In 2016, the construction industry accounted for 25.396% of the world’s total GDP, according to the World Bank. This is attributable to a gamut of construction activities happening across the globe, and the construction industry will continue to surge as it will play a significant role in fulfilling the sustainable development goals of the United Nations (UN). The construction sector utilizes air conditioners, which are categorized as hazardous location explosion proof equipment air conditioners. The categorization is due to the fact that a construction site is susceptible to safety incidents, and therefore, special explosion proof air conditioners are used. The surge in construction activities worldwide will lead to lucrative growth prospects in the hazardous location air conditioners market, which is poised to attain an impressive valuation of $436.85m by the end of 2023, as the market will experience an increment in demand at a CAGR of 2.3% during the forecast period 2018-2023.
The hazardous location air conditioners market report titled “Hazardous Location Air Conditioners Market: By Type (Central Air Conditioner, Dehumidifiers, Ductless Split Systems, Portables, Packaged Terminal AC, Room, Thru-The Wall, Vertical Units); By Location ( Class, Division, Group, Zones); By Temperature ( T1, T2, T3, Others); By End user (Oil and Gas, Food processing, Textiles, Mining, Others) & By Geography- Forecast (2018-2023)” contains information about the growth prospects for the vendors in various end-user industries along with the facts, figures, and statistics that will help one to know the dynamics of the market. Furthermore, the report also describes the challenges, trends, and opportunities that will create disruption in the hazardous location air conditioners market during the forecast period.
Hazardous Location Air Conditioners Market: Geographical Analysis & Leading Segments
Americas held the greatest hazardous location air conditioners market share in 2017, and the regional market was valued to be $107.81m in that year. This is attributable to the opportunities offered by countries such as Mexico, the U.S., Canada, and Brazil, where end-user industries such as construction, chemicals, and manufacturing are making strides. The upcoming years will witness APAC becoming a prominent hazardous location air conditioners marketplace because of the growing construction and manufacturing sector. For instance, India is experiencing impressive growth in the pharmaceutical and oil & gas industry. According to the Indian Brand Equity Foundation (IBEF), the Indian pharmaceutical exports were evaluated at $17.27 billion in FY18. Similarly, the oil & gas industry is poised to grow. These manufacturing sectors that are booming in India and other countries such as China, Indonesia, Malaysia, and others will lead to a demand influx in the hazardous location air conditioners market.
The key application segment in the hazardous location air conditioners market is found to be the oil & gas industry, and it will grow at a steady CAGR of 1.89% through 2023. This is because of the growing demand for energy, which is quite evident from the fact that the total energy demand will increase from 276 mboe/d in 2015 to 339.4 mboe/d in 2030. A significant amount of this energy requirement is attributed to the demand for oil & gas. This will lead to an expansion of the oil & gas industry worldwide, and there will be an increase in the number of production plants, which will be incorporated with hazardous location air conditioners, thereby increasing the hazardous location air conditioners market revenue.
Hazardous Location Air Conditioners Market: Trends and Growth Drivers
· Aerospace & Defense Sector Creating Demand Influx –
According to the International Air Transport Association (IATA), the air transport industry is set to grow, and 39,000 aircraft will be produced by 2027. Subsequently, there will be a demand influx in the hazardous location air conditioners market as these aircraft will be equipped with air conditioners.
· The Mining Industry Creating Opportunities –
The global mining industry is progressing rapidly, and it can be further fathomed by the growing mining equipment market. According to the National Mining Association, in 2016, the U.S. alone produced raw materials worth $74.6 billion. Similarly, China, India, Russia, Mexico, and a few other countries are mining hubs. These mining industries are hazardous and need explosion proof air conditioners. The growing mining industry is creating a sustainable hazardous location air conditioners marketplace.
Hazardous Location Air Conditioners Market: Competitive Landscape
Some of the key companies identified in the hazardous location air conditioners market intelligence report that are striving to capitalize on the customer-base are Safeair, Kooltronics, Mattiks, EIC Solutions, Thermal Edge, and others.
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a) HVAC Equipment Market
b) Explosion Proof Equipment Market
c) Explosion Proof Equipment in Automation & Control Systems Market
d) Mechanical Explosion Proof Equipment Market
What can you expect from the report?
The hazardous location air conditioners market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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