The Global Intrinsically Safe Equipment market is valued at USD 1.86 billion in 2016 and is expected to reach a value of USD 3.006 billion by the end of 2022 , growing at a projected CAGR of 8.33 % during the forecast period of 2017 – 2022 . Government regulations and general concernes on safety and security in workplace are driving the demand for Intrinsically Safe Equipment Market across industry verticals . These equipments can be detectors , transmitters , switches , LED lights and sensors . The market is expected to grow at an exponential rate with the increase in focus on safety and cost benefits .
Intrinsic Safety refers to the measures as well as materials put into place to prevent explosions in potentially hazardous environments caused by either electrical spark or thermal energy . Intrinsically safe equipment will do so by limiting both the electrical and thermal energy of the apparatus to a minimum in potentially hazardous environments . The global standards differ between geographical regions . All standards and certifying bodies are discussed in detail in the report .
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An intrinsically safe equipment is safe by its own inherent design and does not require any external source . Installation of such equipment is easy and they have low maintenance cost . The report discusses key factors that will impact the industry and profiles of leading suppliers like Fluke , OMEGA Engineering , Eaton , Pepperl + Fuchs , R . STAHL , and CorDEX Instruments .
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WHAT THE REPORT OFFERS : 1 . Market Definition for the Intrinsically Safe Equipment Market along with identification of key drivers and restraints for the Asia Pacific Market . 2 . Market analysis for the Intrinsically Safe Equipment Market , with country specific assessments and competition analysis on a global and regional scale . 3 . Identification of factors instrumental in changing the market scenarios , rising prospective opportunities and identification of key companies which can influence the market . 4 . Extensively researched competitive landscape section with profiles of major companies along with their share of markets . 5 . Identification and analysis of the Macro and Micro factors that affect the Intrinsically Safe Equipment Market on regional scale .
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