Hazardous Location Connectors Market by End-user and Geography - Forecast and Analysis 2022-2026

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.

What will the Hazardous Location Connectors Market Size be During the Forecast Period?

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Hazardous Location Connectors Market: Key Drivers, Trends, and Challenges

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

• The rising industrial safety measures are one of the key drivers supporting the hazardous location connectors market growth.
• Industrial safety refers to safety management practices that apply to the industrial sector. These processes are aimed at protecting industrial workers, machinery, plants, structures, and the environment.
• The number of fatalities in the industrial sector across the globe has increased in recent years. For instance, in April 2021, an explosion and fire broke out at a polymer resin plant in a paint factory in Columbus, US, which killed one worker, hospitalized five people, and left four workers with minor injuries. Such incidents increase the adoption of safety measures in different industries. 
• Every nation has introduced industrial safety measures to reduce the number of fatalities. The tools and equipment used in manufacturing industries increase the risk for fires, especially in Class I locations in which hazardous location connectors play an important role in preventing these types of accidents. Thus, rising industrial safety measures will spur the demand for hazardous location connectors across the globe in the forecasted period.

Key Hazardous Location Connectors Market Trend

• Rising global energy demand is one of the key hazardous location connectors market trends contributing to the market growth.
• The consumption of oil and gas is expected to grow during the forecast period due to rising industrialization and rapid urbanization in developing countries such as India and China. 
• The global demand for oil and natural gas is increasing steadily owing to global economic growth. For instance, according to the EIA, global oil consumption is projected to reach 104.1 mb/d by 2026. This will represent an increase of 4.4 mb/d from the 2019 levels. 
• The growth in industrialization, especially in developing countries, will drive the demand for energy during the forecast period. To cater to the increase in energy demand, major oil and gas companies are increasing their oil and gas E&P activities, which will increase the demand for hazardous location connectors.
• Oil and gas refineries are inherently dangerous, with levels of explosive gases and chemicals that are potentially present at all times. Thus, the rising number of oil and gas refineries to meet the increasing demand for energy will spur the demand for hazardous location connectors in the coming years.

Key Hazardous Location Connectors Market Challenge

• The lack of skilled human resources is one of the factors impeding the hazardous location connectors market growth.
• Many sizes and types of hazardous area connectors with different contact configurations can be used on the Amphenol connector series.
• Insert patterns ranging from 2 to 79 contacts, including RF, fiber optic, and coaxial applications, are often used in manufacturing or production sites. The people who use this equipment need to understand the process of operating and installing the equipment correctly. 
• In many instances, end-users are not satisfied with using the connectors if they were not installed, serviced, or calibrated properly. Along with this, a wide variety of connectors are used in hazardous locations, as sometimes, the individual installing the connector does not have technical information about the connectors.
• Due to the COVID-19 outbreak, the market faced a shortage of skilled workers, which led to complex supply chain challenges. This deterred potential buyers from investing in hazardous location connectors. Thus, the lack of skilled human resources will hinder the growth of the market during the forecast period.

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.

Parent Market Analysis

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.

Who are the Major Hazardous Location Connectors Market Vendors?

The report analyzes the market’s competitive landscape and 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
• Warom Technology Incorporated Co.

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.

Product Insights and News

• americanconnectors.com - The company offers hazardous location connectors such as a watertight union pouring chamber and a watertight pouring chamber.
• Amphenol-industrial.com - The company offers hazardous location connectors such as Amphe-EX, a cylindrical, threaded coupling, power and signal connector for harsh and hazardous environments.
• eaton.com - The company offers hazardous location connectors such as eXLink miniature connector systems.

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.

Hazardous Location Connectors Market Value Chain Analysis

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.

Which are the Key Regions for Hazardous Location Connectors Market?

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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.

What are the Revenue-generating End-user Segments in the Hazardous Location Connectors Market?

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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.

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What are the Key Data Covered in this Hazardous Location Connectors Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive hazardous location connectors market growth during the next five years
• Precise estimation of the hazardous location connectors market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the hazardous location connectors industry across North America, Europe, APAC, the Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hazardous location connectors market vendors

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