Market Size of Middle East and Africa Intrinsically Safe Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Intrinsically Safe Equipment Market Analysis
The Middle East and Africa Intrinsically Safe Equipment Market is expected to register a CAGR of 7.12% during the forecast period of 2021-2026. The advent of Industry 4.0 is driving enterprises in many end-user industries toward the age of digitization, creating a demand for hardware such as sensors, actuators, and valves, among other things, that can work with IoT gadgets for control and energy management. Such functionality can help in the current COVID-19 circumstance by allowing the device to be controlled remotely, driving the growth of the studied market.
- The intrinsic safety in potentially explosive areas of process automation, which refers to the electronic prevention of sparks through the limitation of electricity, voltage, and wattage in the electric circuit concerned, is becoming increasingly popular in the region. This method makes applying pressure-proof enclosures for the installed equipment and devices in the explosive areas unnecessary.
- Intrinsically safe equipment offers several advantages for operating and maintaining a processing plant, for example, the servicing of devices and systems without a hot work permit.
- Further, the increasing demand for intrinsically safe devices for the Class I environment associated with flammable gasses and vapors, including gasoline, hydrogen, natural gas propane, ethanol, or methane, which exist under normal operating conditions and abnormal operating conditions, is aiding the market growth.
- Moreover, the continuous focus on developing innovative and advanced products creates an opportunity for the market, which results in strengthening the competitive environment. For instance, in July 2021, Pepperl+Fuchs launched the M-LB-2000 system that protects against surge Transients. The one-piece devices can be mounted on a standard DIN mounting rail, are approved for applications up to SIL 3, and are certified per ATEX and IECEx up to Zone 1. The M-LB-2000 is also UL-listed for Division 1 and used in intrinsically safe control loops. The M-LB-2000 can be used as an alternative to standard terminal blocks, as it also features a loop disconnect function.
- Intrinsically safe equipment is typically slightly more expensive than non-intrinsically safe equipment. This results more from obtaining and maintaining the approval than from the cost of additional or uncommon components.
