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The hazardous location connectors market share is expected to increase by USD 2.33 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.18%.
This hazardous location connectors market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hazardous location connectors market segmentation by end-user (oil and gas, food and beverage, pharmaceutical, wastewater treatment, and others) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The hazardous location connectors market report also offers information on several market vendors, including ABB Ltd., Adobe Inc., American Connectors, Amphenol Industrial Products Group, Atkore International Group Inc., Bulgin Ltd., Eaton Corp. Plc, Elcom International Pvt. Ltd, Emerson Electric Co., Freudenberg SE, TURCK India Automation Pvt. Ltd., HARTING Technology Group, Hubbell Inc., ITT BIW Connector Systems, Pepperl+Fuchs SE, R. Stahl AG, Sonepar Group, Steck Connections, WAGO GmbH and Co. KG, and Warom Technology Incorporated Co. among others.
Download Report Sample to Unlock the Hazardous Location Connectors Market Size for the Forecast Period and Other Important Statistics
Rising industrial safety measures are notably driving the hazardous location connectors market growth, although factors such as lack of skilled human resources may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the hazardous location connectors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hazardous Location Connectors Market Driver
Key Hazardous Location Connectors Market Trend
Key Hazardous Location Connectors Market Challenge
This hazardous location connectors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hazardous location connectors market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hazardous location connectors market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the hazardous location connectors market encompasses successful business strategies deployed by the key vendors. The hazardous location connectors market is fragmented, and the vendors are deploying growth strategies such as price, brand /image, quality, service, and technical expertise to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The hazardous location connectors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hazardous location connectors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for hazardous location connectors market in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.
The growing number of oil and gas E&P activities will facilitate the hazardous location connectors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the restrictions imposed to curb the spread of COVID-19 negatively impacted the regional market. However, in 2021, with the introduction of vaccines, the number of COVID-19 cases declined in the region, which led to the lifting of COVID-19-related restrictions. This resulted in the resumption of operations of several oil and gas pipeline projects, which will further propel the market growth during the forecast period.
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The hazardous location connectors market share growth in the oil and gas segment will be significant during the forecast period. Natural gas is extremely flammable and explosive, and there is a high chance of fatalities near natural gas extraction and production sites. Thus, explosion-proof hazardous location connectors should be installed at such sites to reduce the chances of fatal incidents. For instance, the mechanical grounding connectors from Thomas and Betts are flexible connectors that are quite effective because they connect all metallic non-current carrying equipment at oil and gas facilities, which greatly reduces the potential for electric shocks and explosions. This, in turn, will boost segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hazardous location connectors market size and actionable market insights on the post-COVID-19 impact on each segment.
Hazardous Location Connectors Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.18% |
Market growth 2022-2026 |
$2.33 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.58 |
Regional analysis |
North America, Europe, APAC, the Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., American Connectors, Amphenol Industrial Products Group, Atkore International Group Inc., Bulgin Ltd., Eaton Corp. Plc, Elcom International Pvt. Ltd, Emerson Electric Co., Freudenberg SE, TURCK India Automation Pvt. Ltd., HARTING Technology Group, Hubbell Inc., ITT BIW Connector Systems, Pepperl+Fuchs SE, R. Stahl AG, Sonepar Group, Steck Connections, WAGO GmbH and Co. KG, and Warom Technology Incorporated Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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