The North America hazardous location thermostats market is estimated to be worth USD 0.183 billion in 2016 and is projected to grow at a CAGR of 7.20% during the forecast period to reach USD 0.258 billion by 2021. Improving economic conditions after the recession of 2008 and increasing investments in shale gas exploration along with growth in the manufacturing sector will drive the market for thermostats market for hazardous location in North America.
North America Hazardous Location Thermostats Market-Market Dynamics
Rapid technological innovation and the growing number of industries have had a powerful impact on the hazardous location thermostats market in the region. From petrochemical plants to oil refineries and from grain elevators to pulp and paper mills, all these industries have led to a robust demand for hazardous location thermostats market. Hazardous location thermostats are specially designed for hazardous location temperature control i.e., to control the heating, cooling or ventilation systems with an adjustable set point knob for easy and convenient set point adjustments. Thermostats are the devices/components of a control system that sense and maintain a system at a constant temperature by switching the devices on or off as and when needed. They serve as a control unit for heating or cooling the system or a component part of a heater or air conditioners.
Rapid technological advancement, increasing applications in the industrial sector, and growing safety measures are some of the major drivers stimulating the growth of this segment.
The cost of installation is one of the major restraints faced by the hazardous location thermostats market.
There are different types of thermostats used in different hazardous locations, consisting of different zones and classes. The different zones are zone 0, zone 1 and zone 2, whereas the classes are divided into class I, class II, and class III. These different zones and classes identify the physical characteristics of the hazardous materials present, whereas the thermostats used here are for temperature control of heaters or low-temperature alarms in enclosures that are used in explosion-hazardous areas such as in oil refineries, grain elevators, munitions plants, hospital operating rooms, coal mines, and other hazardous locations.
The hazardous location thermostats market has been broadly segmented on the basis of types, class, divisions, hazardous zones, applications, and geography. On the basis of types, the hazardous location thermostats market has been segmented into line-voltage thermostats and low-voltage thermostats.
Some of the market players mentioned in the report are:
- Emerson Industrial Automation
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Pentair Ltd.
- R. Stahl, Inc.
- Schneider Electric SA
- Watlow Electric Manufacturing Company
What the Report Offers
- Market definition for the North America hazardous location thermostats market, along with identification of key drivers and restraints.
- Market analysis for the North America hazardous location thermostats market, with region-specific assessments.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on an North America and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
- Identification and analysis of the macro and micro factors that affect the North America hazardous location thermostats market on both North America and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1.1 Report Description
1.2 Markets Covered
1.3 Research Methodology
2. Executive Summary
3. Key Findings of the Study
3.1 Market Overview
3.1.1 Market Definition
3.1.2 Market Segmentation
4. Market Dynamics
4.1.1 North America Hazardous Location Thermostats Market Overview
4.2.1 Rapid Technological Developments
4.2.2 Increasing Applications in the Industrial Sector and Reducing Costs
4.2.3 Growing Safety Measures
4.3.1 Regulations & Compliance
4.3.2 High Cost of Installation
4.4 Industry Attractiveness Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products or Services
4.4.5 Competitive Rivalry among Existing Competitors
5. Technology Snapshot
6. Hazardous Location Thermostats Market Analysis & Forecast
6.1 North America Market - Segmented By Types
6.1.1 Line-voltage thermostats
6.1.2 Low-voltage thermostats
6.2 North America Market - Segmented By Class
6.2.1 Class I
6.2.2 Class II
6.2.3 Class III
6.3 North America Market - Segmented By Division
6.3.1 Division 1
6.3.2 Division 2
6.4 North America Market - Segmented By Hazardous Zones
6.4.1 Zone 0
6.4.2 Zone 1
6.4.3 Zone 2
6.5 North America Market - Segmented By Applications
6.5.1 Oil refineries
6.5.2 Petrochemical plants
6.5.3 Pulp and paper millers
6.5.4 Coal mines
6.5.5 Grain elevators
6.6 North America Market - Segmented By Country
6.6.1 United States of America
7. Competitive Intelligence - Company Profiles
7.1 Pentair Ltd
7.1.2 Products and Services
7.1.4 Recent Developments
7.2 Johnson Controls, Inc.
7.2.2 Products and Services
7.2.4 Recent Developments
7.3 R. Stahl, Inc.
7.3.2 Products and Services
7.3.4 Recent Developments
7.4 Honeywell International, Inc.
7.4.2 Products and Services
7.4.4 Recent Developments
7.5 Emerson Industrial Automation
7.5.2 Products and Services
7.5.4 Recent Developments
7.6 Watlow Electric Manufacturing Company
7.6.2 Products and Services
7.6.4 Recent Developments
7.7 Tempco Electric Heater Corporation
7.7.2 Products and Services
7.7.4 Recent Developments
7.8 Stego Elektrotechnik GmbH
7.8.2 Products and Services
7.8.4 Recent Developments
7.9 SSHC, Inc.
7.9.2 Products and Services
7.9.4 Recent Developments
7.10 Emerson Climate Technologies, Inc.
7.10.2 Products and Services
7.10.4 Recent Developments
7.11 ABB Ltd
7.11.2 Products and Services
7.11.4 Recent Developments
7.12 Schneider Electric SA
7.12.2 Products and Services
7.12.4 Recent Developments
7.13.2 Products and Services
7.13.4 Recent Developments
7.14.2 Products and Services
7.14.4 Recent Developments
7.15.2 Products and Services
7.15.4 Recent Developments
8. Investment Analysis
8.1 Recent Mergers and Acquisitions
8.2 Investment Outlook
9. Future of Hazardous Location Thermostats Market