Hazardous Location Thermostats Market Size, Growth, Trends 2031

Segments - North America Hazardous Location Thermostats Market by Types (Low-voltage Thermostats, Line-voltage Thermostats), Applications (Coal Mines, Petrochemical Plants, Grain Elevators, Oil Refineries, Pulp and Paper Millers, and Others), and Country (United States, Canada, and Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

North America Hazardous Location Thermostats Market Outlook 2031

The North America hazardous location thermostats market size was valued at USD 220.99 Billion in 2022 and is anticipated to reach USD 413.17 Billion by 2031 expand at a substantial CAGR 7.2% during the forecast period, 2023–2031. The growth of the market is attributed to technological innovation with high usage in the industrial sector. Thermostat is a device which senses the temperature of a physical system and to maintain the temperature of a system it performs various actions.

These are used in the systems that cools or heats to a set-point temperature. Thermostats are used in air conditioners, water heaters, building heating, medical and scientific incubators, central heating, ovens, heating, ventilation, and air conditioning (HVAC) systems, and refrigerators. Thermostats are widely used in various industries due to its accuracy with temperature.

Thermostats specially designed for hazardous location temperature control is known as hazardous location thermostat which helps in controlling the cooling, heating, or ventilation systems. It has an adjustable knob for convenient and easy adjustments or changes. Thermostats comprise roughly 50% of the overall electricity demand in the US. Pipeline construction projects in North America are projected to generate demand for the hazardous location thermostats.

North America Hazardous Location Thermostats Market Trends, Drivers, Restraints, and Opportunities

Growing application in industrial sector due to technological advancement is expected to propel the market in the coming years.
Rapid growth of the mining industry is major factor fueling the market during the forecast period.
Rising safety measures in the industries is boosting the market.
High cost of installation and maintenance is projected to restrict the market expansion.
R&D investment and technological advancement with development of internet of things is estimated to create lucrative opportunities for the market players.

Scope of The North America Hazardous Location Thermostats Market Report

The report on the North America hazardous location thermostats market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Hazardous Location Thermostats Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016 – 2021
Forecast Period	2023 – 2031
Segmentation	Types (Low-voltage Thermostats and Line-voltage Thermostats), and Applications (Coal Mines, Petrochemical Plants, Grain Elevators, Oil Refineries, Pulp and Paper Millers, and Others)
Country	The US, Canada, and Rest of North America
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Emerson Industrial Automation, Pentair Ltd., Schneider Electric S.A., Honeywell International, Inc., Johnson Controls, Inc., Watlow Electric Manufacturing Company, and R. Stahl, Inc.

North America Hazardous Location Thermostats Market Segment Insights:

The low-voltage thermostats segment is projected to account for a key market share

Based on types, the North America hazardous location thermostats market is bifurcated into low-voltage thermostats and line-voltage thermostats. The low-voltage thermostat segment is expected to constitute a key share of the market during the forecast period owing to technological innovation and rising use as a temperature control solution.

On the other hand, the line-voltage thermostat segment is anticipated to expand at a rapid pace during the forecast period due to growing investment toward development of sustainable cooling and heating technologies.

North America Hazardous Location Thermostats Market Types

The oil refineries and coal mines segment is projected to hold a large market share

In terms of applications, the North America hazardous location thermostats market is segregated into coal mines, petrochemical plants, grain elevators, oil refineries, pulp and paper millers, and others. The oil refineries and coal mines segment is expected to represent a key share of the market in the coming years due to rise in the manufacturing of materials owing to high consumption of resources.

In industries injuries are often due to lack of proper safety equipment and inappropriately trained workers which create accidental conditions, this in turn drives the market.

North America Hazardous Location Thermostats Market Applications

The US is expected to dominate the market

On the basis of regions, the North America hazardous location thermostats market is classified as United States, Canada, and Rest of North America. The market of US is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rising investment and growth in the manufacturing sector of the United States. Growing demand from various industries including oil & gas, mining is driving the market in United States.

Segments

The North America hazardous location thermostats market has been segmented on the basis of

Type

Low-voltage Thermostats
Line-voltage Thermostats

Application

Coal Mines
Petrochemical Plants
Grain Elevators
Oil Refineries
Pulp and Paper Millers
Others

Country

United States
Canada
Rest of North America

Key Players

Emerson Industrial Automation
Pentair Ltd.
Schneider Electric S.A.
Honeywell International, Inc.
Johnson Controls, Inc.
Watlow Electric Manufacturing Company
R. Stahl, Inc.

Competitive Landscape

Key players competing in the North America hazardous location thermostats market include Emerson Industrial Automation, Pentair Ltd., Schneider Electric S.A., Honeywell International, Inc., Johnson Controls, Inc., Watlow Electric Manufacturing Company, and R. Stahl, Inc. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

For instance, In March 2020, Emerson Industrial Automation was named as 2020 Energy Star Partner of the year for their Sensi smart thermostat suite. Company collaborated with HVAC to develop a smart thermostat to save up to 23% of HVAC energy consumption.

North America Hazardous Location Thermostats Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hazardous Location Thermostats Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Hazardous Location Thermostats Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Hazardous Location Thermostats Market - Supply Chain
  4.5. Global Hazardous Location Thermostats Market Forecast
     4.5.1. Hazardous Location Thermostats Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Hazardous Location Thermostats Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Hazardous Location Thermostats Market Absolute $ Opportunity
5. Global Hazardous Location Thermostats Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Hazardous Location Thermostats Market Size and Volume Forecast by Types
     5.3.1. Low-voltage Thermostats Line-voltage Thermostats
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Hazardous Location Thermostats Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Hazardous Location Thermostats Market Size and Volume Forecast by Applications
     6.3.1. Coal Mines Petrochemical Plants Grain Elevators Oil Refineries Pulp and Paper Millers Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Hazardous Location Thermostats Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Hazardous Location Thermostats Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Hazardous Location Thermostats Demand Share Forecast, 2019-2026
8. North America Hazardous Location Thermostats Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Hazardous Location Thermostats Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Hazardous Location Thermostats Market Size and Volume Forecast by Types
     8.4.1. Low-voltage Thermostats Line-voltage Thermostats
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Hazardous Location Thermostats Market Size and Volume Forecast by Applications
     8.7.1. Coal Mines Petrochemical Plants Grain Elevators Oil Refineries Pulp and Paper Millers Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Hazardous Location Thermostats Demand Share Forecast, 2019-2026
9. Latin America Hazardous Location Thermostats Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Hazardous Location Thermostats Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Hazardous Location Thermostats Market Size and Volume Forecast by Types
     9.4.1. Low-voltage Thermostats Line-voltage Thermostats
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Hazardous Location Thermostats Market Size and Volume Forecast by Applications
     9.7.1. Coal Mines Petrochemical Plants Grain Elevators Oil Refineries Pulp and Paper Millers Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Hazardous Location Thermostats Demand Share Forecast, 2019-2026
10. Europe Hazardous Location Thermostats Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Hazardous Location Thermostats Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Hazardous Location Thermostats Market Size and Volume Forecast by Types
     10.4.1. Low-voltage Thermostats Line-voltage Thermostats
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Hazardous Location Thermostats Market Size and Volume Forecast by Applications
     10.7.1. Coal Mines Petrochemical Plants Grain Elevators Oil Refineries Pulp and Paper Millers Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Hazardous Location Thermostats Demand Share Forecast, 2019-2026
11. Asia Pacific Hazardous Location Thermostats Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Hazardous Location Thermostats Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Hazardous Location Thermostats Market Size and Volume Forecast by Types
     11.4.1. Low-voltage Thermostats Line-voltage Thermostats
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Hazardous Location Thermostats Market Size and Volume Forecast by Applications
     11.7.1. Coal Mines Petrochemical Plants Grain Elevators Oil Refineries Pulp and Paper Millers Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Hazardous Location Thermostats Demand Share Forecast, 2019-2026
12. Middle East & Africa Hazardous Location Thermostats Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Hazardous Location Thermostats Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Hazardous Location Thermostats Market Size and Volume Forecast by Types
     12.4.1. Low-voltage Thermostats Line-voltage Thermostats
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Hazardous Location Thermostats Market Size and Volume Forecast by Applications
     12.7.1. Coal Mines Petrochemical Plants Grain Elevators Oil Refineries Pulp and Paper Millers Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Hazardous Location Thermostats Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Hazardous Location Thermostats Market: Market Share Analysis
  13.2. Hazardous Location Thermostats Distributors and Customers
  13.3. Hazardous Location Thermostats Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Emerson Industrial Automation Pentair Ltd. Schneider Electric S.A. Honeywell International, Inc. Johnson Controls, Inc. Watlow Electric Manufacturing Company R. Stahl, Inc.