Fri. Nov 26th, 2021

Stringent occupational safety requirements, especially on construction sites is acting as a key growth driver for global hazard control system market.

According to TechSci Research report, “Global Hazard Control System Market By Protection Type (Fireproof/Explosion Proof, Intrinsic Safety & Others), By Type (Motors, Servo Valves, Sensors and Actuators, Drives & Others), By End Use (Oil & Gas, Metal and Mining, Chemicals and Pharmaceuticals, Mills, Packaging, Aerospace and Defense & Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to undergo a significant CAGR during the forecast period. Key factors propelling the growth of global hazard control system market are increasing urbanization in growing economies, rapid industrial operations, and rising concern for human resources safety. Moreover, stringent industrial safety norms, development of unconventional hydrocarbons resources and growing awareness towards environmental safety are also creating increasing need for hazard control systems. Apart from this, the rising demand for energy by various industries has led to unconventional oil & gas production which is another major factor fueling the growth of global hazard control system market. With increasing construction activities, especially in developing economies, the market is expected to grow substantially over the forecast period.

Furthermore, the growing need for wireless infrastructure to maintain/monitor safety in various plants is leading to high adoption of hazard control systems. Also, rising demand for control valves from oil and gas industry and enhancement of existing plants are providing lucrative growth opportunities for global hazard control system market. In addition to this, manufactures are undergoing extensive R&D activities and are introducing technologically advanced, mechanically sound & energy efficient hazard systems to meet the growing demand from various end user industries.

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Global hazard control system market is segmented based on protection type, type, end use and region. Based on protection type, the market can be segmented into fireproof/explosion proof, intrinsic safety, and others. Among them, intrinsic safety is expected to undergo high CAGR during the forecast period as they find wide application throughout all industries and in all types of hazardous divisions. Moreover, increasing industrial activities are also creating high demand for intrinsic safety protection type.

Based on type, the global hazard control system market can be categorized into motors, servo valves, sensors and actuators, drives and others. Among them, the sensors and actuator control systems are anticipated to witness fastest growth in the global market during the forecast period on account of their increasing application in various end use industries. Sensors and actuators are high in demand particularly in countries like China and Japan.

Major players operating in the global hazard control system market are ABB Group, AMETEK, Inc., BEI Sensors, Bosch Rexroth AG, Eaton Corporation PLC, Emerson Electric Company, Magnetek, Inc., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Schneider Electric SA and Siemens AG. Leading companies are using new product launches as their key growth strategy. Apart from this, they are also undergoing mergers & acquisitions, partnerships and collaborations to strengthen their position in global hazard control system market.

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“The growing urbanization and industrial activities in countries like India, China and South Korea makes Asia Pacific a highly profitable market for hazard control system manufactures. The region is expected to dominate the global market in terms of revenue during the forecast period. Moreover, the increasing demand for energy is also supporting the growth of hazard control system market in Asia Pacific,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Hazard Control System Market By Protection Type (Fireproof/Explosion Proof, Intrinsic Safety & Others), By Type (Motors, Servo Valves, Sensors and Actuators, Drives & Others), By End Use (Oil & Gas, Metal and Mining, Chemicals and Pharmaceuticals, Mills, Packaging, Aerospace and Defense & Others), By Region, Forecast & Opportunities, 2025 has evaluated the future growth potential of hazard control system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global hazard control system market.

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