Hazardous Location Thermostats Market Size, Growth, Trends 2031
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
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| Report ID :CM-1258
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| 155 Pages
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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.
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Attributes |
Details |
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Report Title |
Hazardous Location Thermostats Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 – 2021 |
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Forecast Period |
2023 – 2031 |
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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) |
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Country |
The US, Canada, and Rest of North America |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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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.
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.
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.
Table Of Content
1. Executive Summary2. 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 (000’ 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.
Methodology
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