Hazardous Location Air Conditioners Market 2024 – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024 – 2030

• Hazardous locations are the areas susceptible to explosion or fire hazards due to vapors, flammable gases, combustible dust, flammable liquids, or ignitable fibers. Air conditioners are installed in hazardous locations to tackle these explosion threats. Whereas, air conditioners in hazardous locations are designed to reduce heat accumulation within electrical enclosures, so as to maintain a safe operating temperature in these areas.
• The COVID-19 outbreak has led to the decline of industries, as governments of developed and developing economies have imposed lockdown, due to which the working of industries such as oil & gas, food & beverages, and chemicals have paused. This, in turn, has impacted production and manufacturing, and adversely affected the global economy. Thus, demand for hazardous location air conditioners has also been impacted.

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Global Hazardous Location Air Conditioners Market: Dynamics

Global Hazardous Location Air Conditioners Market: Key Drivers

• The growing mining industry is leading to a sustainable hazardous location air conditioners marketplace. For instance, in 2016, according to the National Mining Association, the U.S. alone produced raw materials worth US$ 74.6 Bn, which in turn, has created the demand for hazardous location air conditioners in mining industries.
• The increasing demand for energy across the globe to complement the need for better equipment control in energy and the utility sector is expected to fuel the growth of the hazardous location air conditioners market.
• Increasing installation of basic industrial air conditioners and industrial portable air conditioners for workers safety in manufacturing plants is projected to enhance the demand for hazardous location air conditioners. This is likely to boost the market during the forecast period.
• Growing adoption of hazardous location air conditioners in petroleum refining processes, metallurgical processes, carbon handling processing operations, and magnesium & aluminum powder processing, among others, is expected to trigger the growth of the hazardous location air conditioners market.
• The rising need for hazardous location air conditioners in various industries such as petrochemicals, oil & gas, paint and varnish, chemical, and food & beverages, is expected to accelerate the growth of the market. The hazardous working environments in these industries enhances the demand for hazardous location air conditioners.
• A growing aerospace and defense sector is set to drive the growth of the hazardous location air conditioners market in the upcoming years due to rising demand for air conditioning systems in various applications of the aerospace and defense sector that includes tent cooling, rocket launching, and missile silos.

Middle East & Africa to Account for Major Share of the Global Hazardous Location Air Conditioners Market

• In terms of region, the global hazardous location air conditioners market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
• The Middle East & Africa region accounts for major market share across the globe, due to presence of oil & gas and petrochemical industries in the region.
• The hazardous location air conditioners market in Asia Pacific is projected to witness the fastest growth due to growing adoption of hazardous location air conditioners in various applications. This is a result of growing energy demand, and high demand for integrated control systems. Growth in mining and chemical industry across developing countries such as China and India is also expected to enhance the demand for hazardous location air conditioners.
• North America is anticipated to hold a significant share of the global hazardous location air conditioners market due to growth of the oil & gas sector, which is one of the major factors driving market growth.

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Global Hazardous Location Air Conditioners Market: Competitive Landscape

Key Players Operating in the Global Hazardous Location Air Conditioners Market

Companies operating in the hazardous location air conditioners market are increasingly investing in research and development to develop new and innovative techniques to manufacture hazardous location air conditioners. Manufacturers are also focusing on offering highly-efficient and reliable hazardous location air conditioners with advanced technology such as IoT (Internet of Things). The hazardous location air conditioners market is highly fragmented with the presence of numerous manufacturers, primarily in developing regions. Furthermore, manufacturers are striving to gain a competitive edge by increased product differentiation. Key players operating in the global hazardous location air conditioners market are:

• Aegex Technologies LLC.
• Atex Delvalle
• atexxo.com
• EIC Solutions
• Friedrich
• Ice Qube, Inc.
• Inatex.
• Johnson Controls.
• KACECO Engineering CO., LTD.
• Nance International.
• Pentair.
• Rittal GmbH & Co. KG
• Shield Air Solutions, Inc.
• Thermal Edge
• Yumpu.com

Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html