Market Size of MEA Hazardous Location Connectors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.44 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Hazardous Location Connectors Market Analysis
The hazardous location connectors market is expected to grow at a CAGR of 3.44% over the forecast period (2022 - 2027). The various safety standards incorporated by the governments have made hazardous location connectors obligatory in almost all the industrial sectors.
- Increasing industrial safety measures are driving the market's growth. The tools and equipment used in manufacturing can generate heat and flame, therefore increasing the risk of fire, especially in class I locations, because connectors play an essential role in preventing these types of explosions.
- Fiber optic connectors are in trend, as the use of fiber optic communications is becoming more common in improving safety and productivity. It substitutes hard-wiring methods, allowing users to safely make and break optic cables by providing wide operating temperature ranges, including sub-zero operation in the field with minimum downtime during the hazardous time.
- Increasing applications in the industrial sector are accelerating the market growth, as every application requires different connector designs, owing to the industry's need to withstand vibrations, extreme temperatures, and shocks.
- High-quality flexible connectors are used in the oil sectors by properly connecting all metallic non-current carrying equipment to prevent shock. At the same time, waterproof electrical connectors that are rubber molded are used in the wastewater treatment facility.
- Higher product installation and maintenance costs hinder the market's growth, as the PCB-mounted or wire-terminated connector has an additional cost associated with them that makes the set-up cost high.
