New York, NY -- (SBWIRE) -- 12/11/2018 -- Main objective of a hazard control system is to protect workers from being exposed to occupational hazards. With growing awareness of such hazards, several safety organizations have promoted hazard control system to be a standard practice in workplaces. Hazards occurring in workplace can be controlled by variety of methods depending on type and need for application. Adoption of combination of methods has proven to be more effective which in turn influence growth of the hazard control market. Rapid growth of industrial sector in emerging economies such as China and India has led to surge in the demand for hazard control systems in the recent years.
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Hazard Control Market Participants to Include Strict Regulations
Top players identified in hazard control market such as Siemens AG and Rockwell Automation, Inc. have introduced stringent occupational safety requirements to reduce the number of accidents, especially on construction sites. Hazard control market is gaining high traction for its contribution to the protection of environment. In addition, revamping of mining industry in North America is likely to create lucrative opportunities for the players currently operating in hazard control market. Further, the development of unconventional hydrocarbon resources such as tight oil and shale gas in the region is expected to propel growth of the hazard control market.
Hazard Control Market: Introduction
Hazard control systems comprise of all the systems necessary for the protection of humans against exposure to hazardous materials that include substances, vibration, noise, chemicals, etc. The process of controlling hazards includes the following steps - isolation, substitution, engineering control, elimination, personal protective instrument, engineering management and administrative control. Sensors and detectors are installed in hazard control systems to avoid hotspots, sparks, leakage of harmful substances, etc. On the basis of product type, the hazard control market is divided into following categories – drivers, motors, sensors & actuators, servo walls and others. This segment is expected to register significant growth because of high demand from mining, oil & gas, chemical & aerospace industries. Moreover, globalization, industrialization and technological advancements across the globe has resulted in an increase in concern regarding the safety & security of humans. This has boosted the demand for wireless infrastructure to maintain a safe & secure environment. These factors are estimated to drive the hazard control market across the globe. In addition, increase in the demand for controlling the leakage of harmful substances from oil & gas and chemical industries as well as focus on environmental protection is expected to propel the demand for the hazard control market across the globe. Moreover, stringent rules & regulations by the governments and the ruling authorities regarding industrial safety & the adoption of unconventional processing methods by chemical and oil & gas industries is fueling the global demand for hazard control.
Hazard Control Market: Dynamics
The hazardous effluents discharged during industrial operations is estimated to boost the demand for hazard control over the coming years. Growing economies are witnessing urbanization on huge scale, which is expected to accelerate the demand for transportation, healthcare, residential areas, construction and energy resources. All these factors are estimated to significantly boost the adoption of hazard control systems in the global market. In addition, increase in the demand for energy by various industries to fulfill the need for nuclear fuel, coal, chemical and petroleum is fueling the growth of hazard control systems in developed and developing economies. Conventional sources of energy are depleting, owing to which unconventional methods of generating energy have been adopted across the globe. Moreover, manufacturers are focusing on developing technologically advanced, mechanically sound & efficient hazard systems that can meet the demand of end users by detecting the exact location & the type of fault without undergoing any failure. This is estimated to propel the demand for hazard control systems in the global market.
Hazard Control Market: Segmentation
The hazard control market has been segmented by product type, by application and by protection.
By product type, the hazard control market can be segmented as:
Sensors & Actuators
By application, the hazard control market can be segmented as:
Metal & Mining
Oil & Gas
Chemicals & Pharmaceuticals
By protection, the hazard control market can be segmented as:
Hazard Control Market: Regional Dynamics
Huge potential exists in the growing markets in APAC and MEA because these regions are undergoing developments rapidly, smoothly and consistently. Asia Pacific holds a substantial share of the hazard control market and is expected to grow at significant rate due to rapid urbanization and industrialization. Moreover, increase in the demand for energy in growing economies, such as India and China, is expected to fuel the demand for hazard control in the near future. The hazard control market in North America is estimated to register significant growth over the forecast period followed by the Middle East. Mexico, Canada and the US are investing heavily in oil & gas, mining and food industries to achieve self-sustainability. Moreover, Europe is also estimated to acquire a significant market value share in the global hazard control market over the coming years.
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