DUBLIN--(BUSINESS WIRE)--The "Global Intrinsically Safe Equipment Market - Segmented by Zone Type (Zone 0, Zone 1, Zone 2), Class Type (Class1, Class 2, Class 3) & Region - Growth, Trends & Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global intrinsically safe equipment market was valued at USD 4.47 billion in 2017, and is expected to reach USD 7.18 billion by 2023, registering a CAGR of 8.21 %, over the forecast period 2018-2023.
Industrial plants and mining refineries have invested time and resources in safety equipment to protect their workforce and manufacturing units from any unwanted catastrophic incidences. Organizations like IECEx, NEC/CEC, and OSHA have played a major role in prescribing safety standards and operational regulations.
Safety issues have been a key concern in all organizations across the globe. Industrial plants, oil and gas refineries, oilfield equipment and services, and other types of facilities all around the world put forth massive effort and investment to prevent safety issues at all costs, especially in hazardous areas and classified locations.
The demand from the oil and gas industry, chemical industry, and the stringent regulations of operations in the industry are the major reasons for making the United States the largest contributor to North America's market share. Manufacturing, pharmaceuticals, food & beverage, and other industries are all dependent on industrial gases for their seamless operations, keeping the demand afloat. The challenge faced by this market is that the demand is not regular and depends more on the end-user needs.
- R. Stahl
- Rae Systems
- Cordex Instruments
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Global Intrinsically Safe Equipment Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Outlook of Intrinsically Safe Equipment Market
For more information about this report visit https://www.researchandmarkets.com/research/ll39bd/global?w=4