GLOBAL HAZARDOUS LOCATION THERMOSTATS MARKET 2018 | Outlook, Growth By Top Companies, Regions, Types, Applications, Drivers, Trends & Forecasts by 2022
Thermostat is a device which can sense and maintain a system at a constant temperature by switching the gadgets/devices on or off when required. It is a component of a control system. It assists as a control unit to cool or heat the system or a component of air conditioners or heaters.
Thermostats that are particularly designed for hazardous location temperature control are known as hazardous location thermostats. It controls the cooling, heating, or ventilation systems with an adjustable knob for easy and convenient adjustments.
The analysis of the market shows that the major drivers of the growth in the market are expected to be:
–> Rapid technological advancement
–> Increase in applications in the industrial sector
–> Growing safety measures
However, cost of installation may act as a roadblock to the growth of the Hazardous Location Thermostats market.
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The Hazardous Location Thermostats market can be segmented based on the type, the application, zone, class and the geography.
Segmentation based on type:
–> Line-voltage thermostats
–> Low-voltage thermostats
Segmentation by Zone:
–> Zone 0
–> Zone 1
–> Zone 2
Segmentation by Class:
–> Class I
–> Class II
–> Class III
Segmentation based on the application of Hazardous Location Thermostats is done into the following:
–> Oil refineries
–> Grain elevators
–> Munitions plants
–> Hospital operating rooms
–> Coal mines
The market can also be segmented based on Geography into North America, Europe, APAC, Middle East and Africa and South America.
The economic crisis of 2008 hit hard the Eurozone. It impacted the investments and afterwards the market for thermostats. However, major economies are in progress to returning to pre-crisis levels, the economic activity is yet to get back. The thermostats market will observe moderate growth over the prediction period.
APAC market with some of the major economies like India, Japan, and China, has a huge potential for the players in thermostats market. The growing manufacturing sector and the growth in energy demand will lead to new investments and development in energy, manufacturing, and mining industries. This will lead to a healthy demand for thermostats in the APAC region.
After the recession of 2008, improvements in economic conditions and increase in investments in shale gas exploration accompanied by growing manufacturing sector will spur the market for thermostats in North America.
MENA being the world’s chief hub for oil and gas sector, has an enormous potential for thermostats market. While, regional conflicts may weaken the growth, the existence of the some of the world\’s biggest firms in the sector will spur the investment towards this market.
Brazil and Mexico are the chief markets in Latin America, with the majority of the revenues being made by these countries. Growing oil & gas sector, in addition to shale gas opportunities will bring about increase in demand for thermostats in the region.
The Global Hazardous Location Thermostats market entails of different international, regional, and local vendors. The competition is projected to grow higher with increasing innovations and M&A events in the future. Moreover, many local and regional vendors are offering specific application products for diverse end-users. The new vendor entrants in the market are finding it difficult to compete with the international vendors based on quality, reliability, and innovations in technology.
Major Key Players are:
Leading vendors in the market are – Pentair Ltd., R. Stahl, Inc., Johnson Controls, Inc., Honeywell International, Inc., Schneider Electric SA, Wat low Electric Manufacturing Company, Emerson Industrial Automation. Temp co Electric Heater Corporation, Indeeco, ABB Ltd
>> US and Canada
>> Mexico, Brazil, Argentina and Rest of Latin America
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
>> Rest of Eastern Europe
>> Australia and New Zealand
>> Rest of Asia Pacific
Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
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