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May 17, 2019 4:22 AM ET

Intrinsically Safe Equipment Market 2019 Global Industry Company Profile, Brief Analysis by Regions, Growth Prospects, Future Scope and Trends by Forecast 2023

Intrinsically Safe Equipment Market 2019 Global Industry Company Profile, Brief Analysis by Regions, Growth Prospects, Future Scope and Trends by Forecast 2023

iCrowd Newswire - May 17, 2019

GlobalIntrinsically Safe Equipment Market 2019Industry Research Report is a professional and in-depth study on the current Market state of the Global Intrinsically Safe Equipment industry withCAGRstatus8.21% 2019-2023. This report studies the Intrinsically Safe Equipment market size by players, regions, product types and end industries, and forecast data 2019-2023; Report also includes the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.

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For competitor segment, the Intrinsically Safe Equipment Market report includes global key players of fixed anode Intrinsically Safe Equipment as well as some small players.

The information for each competitor includes:

Description of Intrinsically Safe Equipment Market: 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 (2019 – 2023). The scope of the report includes insights into the solutions offered by major players, including providers of hardware and associated professional services. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The study also emphasizes on segmentation by zone. Intrinsic safety refers to the measures as well as materials put in place to prevent explosions in potentially hazardous environments, caused either by an electric spark or dissipation of thermal energy. Intrinsically safe equipment prevents catastrophic occurrences by maintaining the electrical and thermal energy of the apparatus at optimum in potentially hazardous environments.Factor Driving the Intrinsically Safe Equipment MarketEnsuring safety while handling hazardous substances in industrial areas has been a major concern for all stakeholders. In the wake of such related accidents in the oil and mining sector, government agencies and various trade bodies in all major economies have urged for stringent regulations. The certifying bodies for intrinsically safe equipment mainly include Underwriters Laboratories, Canadian Standards Association, National Fire Protection Agency, and Mine Safety and Health Administration. The regulations developed by these organizations are centered on the use of intrinsically safe equipment across all industry verticals. All the major electrical product manufacturers have revamped their operations to account for changes in safety regulations.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. Regulation is usually imposed by a governmental agency; trade units must comply with the prescribed regulations while standards are the desirable mode of operations and are not strictly enforced due to differences in compliance frameworks around the world. In the United Kingdom, the Dangerous Substances and Explosive Atmospheres regulation (DSEAR) has been commissioned to prescribe safety regulations for industrial areas in a potentially hazardous environment.To create better awareness among all stakeholders in the intrinsically safe equipment market, regulatory frameworks and standards are periodically updated to take cognizance of changes in the composition of hazardous substances and to remain relevant in a highly dynamic environment.Hazardous Conditions and its Classification as per Industry NormsClass I locations/hazardous areas contain various flammable gases or vapors in quantities sufficient to pose the risk of explosion or ignition; examples include compounds of hydrogen and carbon that requires very little oxygen to ignite and explode. Hydrocarbons such as acetone and ether serve as potentially flammable liquids due to low flash points, which make them evaporate even at room temperatures and form explosive atmosphere at their surface.Some of the locations that come under Class I include petroleum/oil refineries, wastewater/sewage treatment plants, offshore oil rigs, spray booths, solvent extraction plants, and paint warehouses. Class I Division I are the locations that consist of flammable materials present under normal operating conditions. Some of the examples are gas generator rooms, fuel storage locations, cleaning and dyeing plants; normally locations where flammable liquids are used. Class I Division II are the locations where flammable materials are handled and confined within closed containers or systems. Examples of Class I Division II locations typically include areas that store compressed gas or flammable liquid in sealed containers.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 United States is the Largest Market in North AmericaThe 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 and 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. Also, the companies face the challenge of getting the equipment certified from the local authority set by the government to look in these affairs. This makes it difficult to follow one global standard of certification standards.

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Global Fixed anode Intrinsically Safe Equipment Market Report 2019 – Market Size, Share, Price, Trend, and Forecast is a professional and in-depth study on the current state of the global fixed anode Intrinsically Safe Equipment industry. The key insights of the report:

  • The report provides key statistics on the market status of the fixed anode Intrinsically Safe Equipment manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
  • The Intrinsically Safe Equipment Market report provides a basic overview of the industry including its definition, applications and manufacturing technology.
  • The report presents the company profile, product specifications, capacity, production value, and 2013-2019 Intrinsically Safe Equipment market shares for key vendors.
  • The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
  • The Intrinsically Safe Equipment Market report estimates 2019-2023 market development trends of fixed anode Intrinsically Safe Equipment industry.
  • Analysis of upstream raw materials, downstream demand and current market dynamics is carried out.
  • The Intrinsically Safe Equipment Market report makes some important proposals for a new project of fixed anode Intrinsically Safe Equipment Industry before evaluating its feasibility.
  • Reasons to Purchase the Report

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    Major Points from Table of Contents for Intrinsically Safe Equipment Market 2019:

    Part 1 Industry Overview1.1 Intrinsically Safe Equipment Industry1.1.1 Intrinsically Safe Equipment Market Development1.1.2 Terminology Definition in the Report1.1.2.1 Production1.1.2.2 Intrinsically Safe Equipment Industry Demand1.1.2.3 Intrinsically Safe Equipment Market Sales Revenue1.1.2.4 Ex-factory Price and Sales Price1.1.2.5 Cost1.1.2.6 Intrinsically Safe Equipment Market Gross Margin1.2 Intrinsically Safe Equipment Market Products and Services Scope1.3 Industry Chain1.4 Industry Dynamics and Regulations1.5 Global Market Overview

    Part 2 Upstream and Production2.1 Raw Materials / Components2.2 Procurement Methods and Channels2.3 Intrinsically Safe Equipment Market Cost Structure and Manufacturing2.4 Industry Capacity2.5 Intrinsically Safe Equipment Market Production Distribution by Geography2.5.1 Production in Major Regions / Countries2.5.2 Trade Flow Overview

    Part 3 Product Segment3.1 Introduction by Type3.2 Intrinsically Safe Equipment Market Status

    Part 4 Application / End-User Segment

    4.1 Introduction by Application4.1.1 Pharmaceuticals4.1.2 Additives4.1.3 Scientific Research4.2 Market Status

    Part 5 Regional Market

    Part 6 Intrinsically Safe Equipment Market Subdivision

    6.1 Regional Production6.1.1 Production by Type

    6.2 Regional Demand

    6.2.1 Demand by Type

    6.2.2 Demand by Application

    6.2.3 Additives Demand by Region6.2.4 Scientific Research Demand by Region

    Part 7 Intrinsically Safe Equipment Market Forecast7.1 Global Forecast7.2 Forecast by Type7.3 Forecast by Application7.4 Forecast by Region


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