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Latin America Hazardous Location Thermostats Market - By Types (Line voltage thermostats, Low voltage thermostats), Class (Class I, Class II, Class III), Division (Division 1, Division 2), Hazardous Zones (Zone 0, Zone 1, Zone 2), Application, Industry, Countries, Trends, Forecast - (2017 - 2022)

The Latin America Hazardous Location Thermostats market is valued at USD 0.044 billion in 2016 and is expected to reach a value of USD 0.068 billion by the end of 2022, growing at a projected CAGR of 7.69% during the forecast period of 2017 – 2022. Brazil and Mexico are the major markets for these solutions in the region, with the bulk of the revenues being generated by these two countries. Growth in the oil & gas sector, as well as shale gas opportunities will lead to increased demand for these solutions in the region. Latin 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. Drivers 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. Restraints 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. The segmentation by region includes Brazil, Mexico, Colombia, Chile, and Argentina, among others. 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 Latin America hazardous location thermostats market, along with identification of key drivers and restraints. Market analysis for the Latin 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 Latin 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 Latin America hazardous location thermostats market on both Latin America and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

Published By: Mordor Intelligence
Published Date: Q1 2017

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