Global Intrinsic Safety Modules Market 2017-2021
About Intrinsic Safety Modules
Intrinsic safety modules are connected with sensors and relays, which are responsible for checking the fluctuations in power supply that may lead to a short circuit in the entire network. Intrinsic safety modules are important because they connect intrinsically safe-rated equipment such as transmitters, solenoids, sensors, and encapsulated assemblies. They are more cost-effective than other technologies used for protection from hazardous operations or other protective devices that are installed.
Technavio’s analysts forecast the global intrinsic safety modules market to grow at a CAGR of 5.81% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global intrinsic safety modules market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intrinsic Safety Modules Market 2017-2021
Technavio recognizes the following companies as the key players in the global intrinsic safety modules market: Eaton, Rockwell Automation, Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: ABB, Pepperl+ Fuchs, OMEGA, Rotork, IMI Sensors, and Extronics.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of intrinsically safe wireless pressure sensors. Wireless pressure sensors feature a rugged metal enclosure with corrosion-resistant construction. Due to the sealed enclosure, they are highly suitable for outdoor applications in harsh environments. The pressure ports and the pressure diaphragm are also made of corrosion-resistant materials to make them resilient in the harshest of process media.”
According to the report, one driver in the market is high demand for process automation in emerging markets. High demand for I/O safety modules, especially from the Middle East and the BRICS (Brazil, Russia, India, China, and South Africa) countries, will act as a major driver for the intrinsic safety modules market. Developed regions such as Europe and North America already possess a large market for these modules, whereas countries like China, India, Vietnam, South Korea, Thailand, and Indonesia and those in Latin America and the Middle East, which are emerging markets, are generating high demand for intrinsic safety modules.
Further, the report states that one challenge in the market is applicable only for low power circuits. The main disadvantage of intrinsic safety modules in offering protection is that they can be only used for low-power circuits; thus, they cannot be used with intrinsically safe motors. Intrinsic safety modules are used mostly in devices like pressure transmitters, small capacity solenoid valves, control valve positioners, and similar devices. The measuring devices named above must be designed as intrinsically safe. Vendors need to do a step-by-step procedure to understand the criticality of the systems and how the process works.
Eaton, Rockwell Automation, Schneider Electric, Siemens, ABB, Pepperl+ Fuchs, OMEGA, Rotork, IMI Sensors, and Extronics.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook