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Hazardous Location Thermostats Market

Hazardous Location Thermostats Market Forecasts to 2028 – Global Analysis By Hazardous Zone (Zone 0, Zone 1, Zone 2), Application (Coal Mines, Paint Storage Areas, Sewage), Channel (Direct, Indirect) and By Geography

4.4 (60 reviews)
Published: May 2021 ID: SMRC20637
4.4 (60 reviews)
Published: May 2021 ID: SMRC20637

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Hazardous Location Thermostats Market is accounted for $0.78 billion in 2020 and is expected to reach $1.65 billion by 2028 growing at a CAGR of 9.7% during the forecast period. Rapid technological innovation and the growing number of industries such as petrochemical plants, oil refineries, grain elevators, pulp & paper mills, and others are the major factors driving the market growth. However, high installation cost is restraining the market growth.

A thermostat is a device which sense and keep a system at a constant temperature by switching the devices on or off when needed. A thermostat is a part of a control system. It provides as a control unit to heat or cool the system or a component of heaters or air conditioners. Hazardous location thermostats are specially designed for hazardous locations temperature control. It controls the ventilation systems, cooling and heating with an adjustable knob for easy and convenient adjustments.

Based on type, the line-voltage thermostats segment is estimated to have a lucrative growth, owing to its use for electric space heaters, including a direct-wired electric furnace, baseboard heater, or any other heater. By geography, Asia Pacific is going to have high growth during forecast period due to the technological advancements and reduction in the cost of the product in the region and acceptance of the thermostats in various industry verticals. There is huge potential for the vendors of thermostats for some of the major developing countries like China, India and Japan.

Some of the key players profiled in the Hazardous Location Thermostats Market include Pentair Ltd, Johnson Controls Inc, R. Stahl Inc, Honeywell International Inc, Emerson Industrial Automation, Watlow Electric Manufacturing Company, Tempco Electric Heater Corporation, Stego Elektrotechnik GmbH, SSHC Inc, Schneider Electric SA, Thermon, Indeeco, Supermec, STEGO and ABB Company.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 0.78billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

9.7%

Predicted 2028 Value:

USD 1.65 billion

Forecast Years:

2021-2028

Tables, Graphs & Figures

161

Chapters Covered:

Type, Class, Hazardous Zone, Application, Sales Channel, and Region

Core Drivers and Opportunities:

  • Rapid technological innovation
  • Growing number of industries such as petrochemical plants, oil refineries

Restraining Factors & Market Threats:

  • High installation cost


Types Covered:
• Line-voltage Thermostats
• Low-voltage Thermostats

Class Covered:
• Class I
• Class II
• Class III

Hazardous Zones Covered:
• Zone 0
• Zone 1
• Zone 2

Applications Covered:
• Chemical Storage & Handling Facilities
• Coal Mines
• Coal Preparation Plants
• Grain Elevators
• Hospital Operating Rooms Clients
• Oil Gas & Mining
• Paint Storage Areas
• Petrochemical Facilities/Oil Rigs
• Pulp and Paper Mills
• Sewage
• Treatment Plants

Sales Channels Covered:
• Direct Marketing
• Indirect Marketing

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years (2019, 2020, 2021, 2025, and 2028)
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Hazardous Location ThermostatsMarket is majorly driven by rapid technological innovation and the growing number of industries such as petrochemical plants, oil refineries, grain elevators, pulp& paper mills.

The line-voltage thermostatssegment is growing at a highest CAGR owing to its use for electric space heaters including a direct-wired electric furnace.

North America dominated with a significant market share due to increasing investments in shale gas exploration along with growth in the manufacturing sector in the region.

Asia Pacific market is growing at a highest CAGR owing to the technological advancements and reduction in the cost of the product in the regions.

Key players in Hazardous Location Thermostats Market include Pentair Ltd, Johnson Controls Inc, R. Stahl Inc, Honeywell International Inc, Emerson Industrial Automation, Watlow Electric Manufacturing Company, Tempco Electric Heater Corporation, StegoElektrotechnik GmbH, SSHC Inc, Schneider Electric SA, Thermon, Indeeco, Supermec, STEGO and ABB Company.

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