Latin America Hazardous Location Connectors Market - By Class (Class I, Class II, Class III), Hazardous Zones (Zone 0, Zone 1, Zone 2), Applications (Food and Beverage Processing, Oil and Gas Production, Oil Refineries, Petrochemical Refineries, Pharmaceutical Manufacturing, Wastewater Treatment Facilities), Geography, Trends, Forecast - (2017 - 2022)
The Latin America Hazardous Location Connectors market is valued at USD 0.789 billion in 2016 and is expected to reach a value of USD 1.07 billion by the end of 2022, growing at a projected CAGR of 5.22% during the forecast period of 2017 – 2022. Latin America Hazardous Location Connectors Market-Market Dynamics The various government safety standards have made the use of hazardous environment safe connectors compulsory in almost all the industrial sectors. As per these safety standards, we have the hazardous location safe connectors that are explosion or flame-proof as well as corrosion-resistant. These connectors provide protection to the industrial equipment as well as the personnel and prevent the occurrence of major accidents in the hazardous areas. Thus, awareness about all the parameters that can guide us in choosing the right kind of hazardous location connectors is pivotal. Additionally, this awareness also aids us in avoiding the risk of explosion or fire due to ignitable gases, dust or vapors. Drivers The key factors contributing to the growth of Latin America hazardous location connectors market are the rising industrial safety measures, increasing applications in the industrial sector, reduction in costs, and a growing awareness among the industry personnel. Restraints The complexity of standards and product installation and maintenance costs are the key challenges of the Latin America hazardous location connectors market. The Latin America hazardous location connectors market is broadly segmented by classes, hazardous zones, applications, end-users, and geographies. Based on class, the hazardous location connectors market is segmented into class I, class II, and class III. Similarly, based on the hazardous zones, the market has been segmented into zone 0, zone 1, and zone 2. Further, based on applications, the market is segmented into oil refineries, petrochemical refineries, pulp & paper mills, food & beverage processing, oil & gas production, pharmaceutical manufacturing, wastewater treatment facilities, and others. Some of the key market players mentioned in the report are: American Connectors, Inc. Hubbell-Killark Steck Connections Texcan Thomas & Betts What the Report Offers Market definition for the Latin America hazardous location connectors market, along with identification of key drivers and restraints. Market analysis for the Latin America hazardous location connectors market, with region-specific assessments. Identification of factors instrumental in changing the market scenario and in offering prospective opportunities. Identification of key companies that can influence the market on the Latin America front and also on the 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 Latin America hazardous location connectors market on both the Latin America front and on a regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.