North America Hazardous Location Thermostats Market - By Types, Class, Divisions, Hazardous Zones, Applications, Countries and Vendors - Market Trends and Forecasts (2015 - 2020)
The North America hazardous location thermostats market is estimated to be worth $0.183 billion in 2015 and is projected to grow at a CAGR of 7.20% during the forecast period. The North American hazardous location thermostats market is estimated to be worth $0.183 billion in 2015 and is projected to grow at a CAGR of 7.20% during the forecast period to reach $0.258 billion by 2020. Improving economic conditions after the recession of 2008 and increasing investments in shale gas exploration along with growth in manufacturing sector will drive the market for thermostats market for hazardous location in North America.
Rapid technological innovation and growing number of industries have been a powerful impact on the hazardous location thermostats market in the region. From petrochemical plants to oil refineries and from grain elevators to pulp and paper mills, all these industries has led to a robust demand for hazardous location thermostats market in the region. Hazardous location thermostats are specially designed for hazardous location temperature control i.e., it controls the heating, cooling, or ventilation systems with an adjustable knob for easy and convenient set point adjustments. Thermostats are the devices/components of a control system, which senses and maintains a system at a constant temperature by switching the devices on or off as per the need. It serves as a control unit for heating or cooling the system or as a component part of a heater or air conditioner.
There are different types of thermostats used in different hazardous location consisting of different zones and classes. The different zones are zone 0, zone 1 and zone 2, whereas the classes are divided into class I, class II and class III. These different zones and classes, identify the physical characteristics of the hazardous materials present, whereas the thermostats used here, are for temperature control of heaters or low-temperature alarms in enclosures that are used in explosion-prone areas such as in oil refineries, grain elevators, munition plants, hospital operating rooms, coalmines and other hazardous locations.
The hazardous location thermostats market is broadly segmented based on their types, classes, divisions, hazardous zones, applications and geographies. Based on types, the hazardous location thermostats market is divided into line-voltage thermostats and low-voltage thermostats. The countries segmented for hazardous location thermostats market are United States of America, Canada and others.
Some of the market players mentioned in the report are Pentair Ltd., Johnson Controls, Inc., R. Stahl, Inc., Honeywell International, Inc., Watlow Electric Manufacturing Company, Schneider Electric SA and Emerson Industrial Automation.
Drivers: Rapid technological advancement, increasing applications in the industrial sector and growing safety measures are some of the major drivers stimulating the growth of this segment.
Challenges: Cost of installations is one of the major challenges faced by hazardous location thermostats market.
What the report offers:
Market Definition for the hazardous location thermostats along with identification of key drivers and restraints for the market Market analysis for the North America hazardous location thermostats market, with region specific assessments Identification of factors instrumental in changing the market scenarios and offering prospective opportunities Identification of key companies, which can influence the North American market on the regional scale Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares Identification and analysis of the Macro and Micro factors that affect the North America hazardous location thermostats market on the regional scale
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