Global Intrinsically Safe Equipment Market is anticipated to grow with a growth rate of more than 7.37% over the forecast period 2023-2030.
Intrinsically safe equipment refers to equipment and wiring that cannot release enough electrical or thermal energy, even under abnormal conditions, to ignite a hazardous air combination at its most easily ignitable concentration. This is achieved by restricting the power available to electrical equipment in the hazardous area to a level that prevents the gases from igniting. The market growth is driven by key factors such as increasing usage in all the hazardous zone and a growing number of causalities and explosions in the industries
According to Statista, In the United States, the number of work-related fatalities in 2021 was 19, lower compared to the previous year. The incidence of fatal injuries in the construction industry dramatically rose during the previous ten years, reaching a peak in 2020. In 2011, there were 781 fatalities in various businesses by 2020, there were 1 034 fatalities. The construction industry of Japan saw around 290 fatal industrial accidents in 2021, followed by the manufacturing sector with 137 fatalities. There were 867 occurrences of work-related deaths in total throughout 2021. Moreover, rising on safety and security and an increasing number of government regulations create lucrative opportunities in the forecast years. However, varying Safety Regulations Across Different Regions and cost and Design Complexity stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Intrinsically Safe Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The government laws and widespread worries about workplace safety and security in North America have led to a market dominance for fundamentally safe equipment. Sensors, LED lights, transmitters, switches, and detectors. The market for intrinsically safe equipment will develop in the area during the forecast period due to the increasing focus on safety and cost benefits. Due to the region's increasing urbanization and industrialization, the market for intrinsically safe equipment is expected to expand significantly in Asia-Pacific.
Major market player included in this report are:
- CorDEX Instruments Ltd.
- Pepperl + Fuchs
- Fluke Corporation
- OMEGA Engineering (Spectris PLC)
- R. Stahl AG
- RAE Systems (Honeywell)
- Eaton Corporation
- Bayco Products, Inc.
- Kyland Technology Co., Ltd.
- Banner Engineering Corp
Recent Developments in the Market:
- In October 2020, with its new Quality Inspection SensorApp and InspectorP62x all-in-one vision sensor, SICK has provided a simple solution for a range of quality assurance applications in industrial automation. The SensorApp is already pre-installed in the whole InspectorP6xx line of 2D vision sensors from SICK, offering flexibility for a range of application requirements.
Global Intrinsically Safe Equipment Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Zone, Class, Product, End User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Zone:
- Zone 0
- Zone 20
- Zone 1
- Zone 21
- Zone 2
- Zone 22
By Class:
By Product:
- Sensors
- Detectors
- Switches
- Transmitters
- Isolators
- LED Indicators
- Others Products
By End User:
- Oil and Gas
- Mining
- Power
- Chemical and Petrochemical
- Processing
- Other End Users
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Intrinsically Safe Equipment Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Intrinsically Safe Equipment Market, by Zone, 2020-2030 (USD Billion)
- 1.2.3. Intrinsically Safe Equipment Market, by Class, 2020-2030 (USD Billion)
- 1.2.4. Intrinsically Safe Equipment Market, by Products, 2020-2030 (USD Billion)
- 1.2.5. Intrinsically Safe Equipment Market, by End User, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Intrinsically Safe Equipment Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Intrinsically Safe Equipment Market Dynamics
- 3.1. Intrinsically Safe Equipment Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing usage in all the hazardous zones
- 3.1.1.2. Growing number of causalities and explosions in the industries
- 3.1.2. Market Challenges
- 3.1.2.1. Varying Safety Regulations Across Different Regions
- 3.1.2.2. Cost and Design Complexity
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising concerns on safety and security
- 3.1.3.2. Increasing number of government regulations
Chapter 4. Global Intrinsically Safe Equipment Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Intrinsically Safe Equipment Market, by Zone
- 5.1. Market Snapshot
- 5.2. Global Intrinsically Safe Equipment Market by Zone, Performance - Potential Analysis
- 5.3. Global Intrinsically Safe Equipment Market Estimates & Forecasts by Zone 2020-2030 (USD Billion)
- 5.4. Intrinsically Safe Equipment Market, Sub Segment Analysis
- 5.4.1. Zone 0
- 5.4.2. Zone 20
- 5.4.3. Zone 1
- 5.4.4. Zone 21
- 5.4.5. Zone 2
- 5.4.6. Zone 22
Chapter 6. Global Intrinsically Safe Equipment Market, by Class
- 6.1. Market Snapshot
- 6.2. Global Intrinsically Safe Equipment Market by Class, Performance - Potential Analysis
- 6.3. Global Intrinsically Safe Equipment Market Estimates & Forecasts by Class 2020-2030 (USD Billion)
- 6.4. Intrinsically Safe Equipment Market, Sub Segment Analysis
- 6.4.1. Class 1
- 6.4.2. Class 2
- 6.4.3. Class 3
Chapter 7. Global Intrinsically Safe Equipment Market, by Products
- 7.1. Market Snapshot
- 7.2. Global Intrinsically Safe Equipment Market by Products, Performance - Potential Analysis
- 7.3. Global Intrinsically Safe Equipment Market Estimates & Forecasts by Products 2020-2030 (USD Billion)
- 7.4. Intrinsically Safe Equipment Market, Sub Segment Analysis
- 7.4.1. Sensors
- 7.4.2. Detectors
- 7.4.3. Switches
- 7.4.4. Transmitters
- 7.4.5. Isolators
- 7.4.6. LED Indicators
- 7.4.7. Others Products
Chapter 8. Global Intrinsically Safe Equipment Market, by End User
- 8.1. Market Snapshot
- 8.2. Global Intrinsically Safe Equipment Market by End User, Performance - Potential Analysis
- 8.3. Global Intrinsically Safe Equipment Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
- 8.4. Intrinsically Safe Equipment Market, Sub Segment Analysis
- 8.4.1. Oil and Gas
- 8.4.2. Mining
- 8.4.3. Power
- 8.4.4. Chemical and Petrochemical
- 8.4.5. Processing
- 8.4.6. Other End Users
Chapter 9. Global Intrinsically Safe Equipment Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Intrinsically Safe Equipment Market, Regional Market Snapshot
- 9.4. North America Intrinsically Safe Equipment Market
- 9.4.1. U.S. Intrinsically Safe Equipment Market
- 9.4.1.1. Zone breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Class breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Products breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End User breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Intrinsically Safe Equipment Market
- 9.5. Europe Intrinsically Safe Equipment Market Snapshot
- 9.5.1. U.K. Intrinsically Safe Equipment Market
- 9.5.2. Germany Intrinsically Safe Equipment Market
- 9.5.3. France Intrinsically Safe Equipment Market
- 9.5.4. Spain Intrinsically Safe Equipment Market
- 9.5.5. Italy Intrinsically Safe Equipment Market
- 9.5.6. Rest of Europe Intrinsically Safe Equipment Market
- 9.6. Asia-Pacific Intrinsically Safe Equipment Market Snapshot
- 9.6.1. China Intrinsically Safe Equipment Market
- 9.6.2. India Intrinsically Safe Equipment Market
- 9.6.3. Japan Intrinsically Safe Equipment Market
- 9.6.4. Australia Intrinsically Safe Equipment Market
- 9.6.5. South Korea Intrinsically Safe Equipment Market
- 9.6.6. Rest of Asia Pacific Intrinsically Safe Equipment Market
- 9.7. Latin America Intrinsically Safe Equipment Market Snapshot
- 9.7.1. Brazil Intrinsically Safe Equipment Market
- 9.7.2. Mexico Intrinsically Safe Equipment Market
- 9.8. Middle East & Africa Intrinsically Safe Equipment Market
- 9.8.1. Saudi Arabia Intrinsically Safe Equipment Market
- 9.8.2. South Africa Intrinsically Safe Equipment Market
- 9.8.3. Rest of Middle East & Africa Intrinsically Safe Equipment Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. CorDEX Instruments Ltd.
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Pepperl + Fuchs
- 10.3.3. Fluke Corporation
- 10.3.4. OMEGA Engineering (Spectris PLC)
- 10.3.5. R. Stahl AG
- 10.3.6. RAE Systems (Honeywell)
- 10.3.7. Eaton Corporation
- 10.3.8. Bayco Products, Inc.
- 10.3.9. Kyland Technology Co., Ltd.
- 10.3.10. Banner Engineering Corp.
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption