According to analysts at Vantage Market Research, the Hazardous Location Connector Market is expected to reach USD 15.04 Billion by 2028, growing at a CAGR of 5.4% between 2021 to 2028. Rising industrial security is driving the market, as the instruments and hardware utilized in production can produce heat and spark in this way, expanding the danger for heat, particularly in higher zone locations where connectors assume a significant part to avoid these types of blasts. Hazardous location connectors are flexible and very effective by properly connecting all metallic non-current carrying equipment at the oil and gas facility, which greatly reduces the potential for electric shock and explosions.
- The Zone 2 segment is projected to expand at the fastest CAGR exceeding 5.6% over the forecast period owing to the improving industrial safety standards as the tools and equipment utilized in the production of heat and flame.
- The oil and gas production segment held a market share of around 32% in 2020. This share is due to the decreasing manpower and increasing use of inspection robotics in industries.
- Asia Pacific is expected to expand at a CAGR of over 6% from 2021 to 2028. This surge is attributed to the rising demand for hazardous location connector markets in developed economies such as China and India.
Expanding applications in the modern area are growing the market as each application requires diverse connector plans, because of its industry need to outlook shock and outrageous temperatures. In the oil industry, great adaptable connectors are utilized by appropriately associating all metallic non-flow conveying gear to hinder shock, though electrical connectors, it is made of rubber and utilized in the wastewater treatment industry.
North America region is poised to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The hazardous location connectors market is adding to the development by rising industrial safety measures, expanding applications in the modern area, and decreasing expenses, and developing awareness among the industry workforce. The different security norms set somewhere around the public authority have utilized environment-safe connectors compulsory in practically the industrial areas.
Some of the key players in the Hazardous Location Connector Market include Emersion Industrial Automation, Steck Connections, American Connectors, Amphenol Industrial Products Group, Thomas and Betts, Hubbell-Killark, ITT BIW Connector Systems, Texan, Crouse-Hinds (Eaton), among others. The market is comprised of a high degree of competition due to the presence of numerous key players.