North America Hazardous Location Thermostats Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Hazardous Location Thermostats Market Analysis
The North America hazardous location thermostats market is projected to grow at a CAGR of 7.20% during the forecast period 2020 to 2025. 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.
- The mining industry is expected to fuel the market for hazarlous location thermostats. For instance, in 2019 the Trump adminsitration sought after a federal strategy to ensure a reliable supply of critical minerals. This stragey led the US department to locate the domestic supplies of critical minerals, start the production of these minerals, and gain permints for the expediton of mineral projects.
- Recently, the largest oil and gas industries in the United States launched an American Energy Renaissance, leading to new natural gas finds and expansion of oil production from reserves that were once deemed unavailable.
- For instance, ExxonMobil, one of the leading oil producers in the country, announced its plans to increase the production activity in the Permian Basin of West Texas, by producing more than 1 million barrels per day (BPD) of oil-equivalent by as early as 2024. This is equivalent to an increase of nearly 80 percent compared to the present production capacity. Similarly, Chevron is expected to increase its net oil-equivalent production to reach 600,000 BPD by 2020 and 900,000 BPD by 2023. Such increasing oilfield activity is expected to drive the demand for hazardous location thermostat adoption.
- Pipeline construction projects, such as Keystone XL Pipeline by TransCanada, Permian Basin to Cushing Pipeline by Plains All American Pipeline LP, and the Cactus II Pipeline in Texas, are some of the ongoing projects. Such projects are expected to create a considerable demand for haxardous location thermostats.
- Mining sites in Canada, the US and around the world have become hotspots for the spread of coronavirus, and approximately 4,000 mine workers in 18 countries have tested positive, according to a report by an international coalition of non-profit groups. New Mexico's Chino copper mine was forced to close indefinitely after a mid-April outbreak when a number of its workers tested positive. Such instances are expected to decrease the usage of hazardous location thermostats in the region, till the virus becomes inactive.
North America Hazardous Location Thermostats Market Trends
This section covers the major market trends shaping the North America Hazardous Location Thermostats Market according to our research experts:
Growing Safety Measures across Industries to Drive the Market Growth
- Various industries, like oil and gas, and mining, are witnessing an increase in the production of materials, owing to the greater consumption of resources across the world.
- In these booming industries, factors, like ever-higher quotas, productivity, and profits, are prioritized over employee safety. Oil rig injuries are often due to the fast-paced nature of the oil business, improperly trained workers, and a lack of proper safety equipment in case of fire. When these elements are combined, they can create a condition for accidents, which is driving the market forward.
- Crosspoint temperature is one of the methods for the determination of susceptibility of the coal samples. A thermostat is used in this method to control the temperature of the furnace. Usually, a linear heating rate is maintained, and can lead to furnace damage or a fire incident if not done so. Thus, this is a major factor driving the market.
North America Hazardous Location Thermostats Industry Overview
North America Hazardous Location Thermostats Market is highly fragmented. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across multiple countries. These companies are leveraging strategic collaborative initiatives to increase their market shares and profitability.
- March 2020- Emerson was named the 2020 Energy Star Partner of the year for its Sensi smart thermostat suite. The comany partnered with HVAC to develop a smart thermostat which helps users to savr upto 23% of HVAC energy consumption by adjusting the temprature using remote acess, flexible scheduling ang geofencing.
North America Hazardous Location Thermostats Market Leaders
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Pentair Ltd
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Johnson Controls, Inc.
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R. Stahl, Inc.
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Honeywell International, Inc.
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Emerson Industrial Automation
*Disclaimer: Major Players sorted in no particular order
North America Hazardous Location Thermostats Market Report - Table of Contents
1. Introduction
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Introduction
-
4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Technology Snapshot
-
4.5 Market Drivers
- 4.5.1 Rapid Technological Developments
- 4.5.2 Increasing Applications in the Industrial Sector and Reducing Costs
- 4.5.3 Growing Safety Measures
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4.6 Market Restraints
- 4.6.1 Regulations & Compliance
- 4.6.2 High Cost of Installation
5. MARKET SEGMENTATION
-
5.1 By Type
- 5.1.1 Line-voltage thermostats
- 5.1.2 Low-voltage thermostats
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5.2 Class
- 5.2.1 Class I
- 5.2.2 Class II
- 5.2.3 Class III
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5.3 Division
- 5.3.1 Division 1
- 5.3.2 Division 2
-
5.4 Zone
- 5.4.1 Zone 0
- 5.4.2 Zone 1
- 5.4.3 Zone 2
-
5.5 Application
- 5.5.1 Oil refineries
- 5.5.2 Petrochemical plants
- 5.5.3 Pulp and paper millers
- 5.5.4 Coal mines
- 5.5.5 Grain elevators
- 5.5.6 Others
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5.6 Country
- 5.6.1 United States
- 5.6.2 Canada
- 5.6.3 Others
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Pentair Ltd
- 6.1.2 Johnson Controls, Inc.
- 6.1.3 R.Stahl, Inc.
- 6.1.4 Honeywell International, Inc.
- 6.1.5 Emerson Industrial Automation
- 6.1.6 Watlow Electric Manufacturing Company
- 6.1.7 Tempco electric Heater Corporation
- 6.1.8 Stego Elektotechnik GmbH
- 6.1.9 SSHC
- 6.1.10 Emerson Climate Technologies, Inc.
- 6.1.11 Magnaflux Corp.
- 6.1.12 Bureau Veritas SA
- 6.1.13 Intertek Group PLC
- 6.1.14 ABB Ltd
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
** Subject To AvailablityNorth America Hazardous Location Thermostats Industry Segmentation
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.
| By Type | Line-voltage thermostats |
| Low-voltage thermostats | |
| Class | Class I |
| Class II | |
| Class III | |
| Division | Division 1 |
| Division 2 | |
| Zone | Zone 0 |
| Zone 1 | |
| Zone 2 | |
| Application | Oil refineries |
| Petrochemical plants | |
| Pulp and paper millers | |
| Coal mines | |
| Grain elevators | |
| Others | |
| Country | United States |
| Canada | |
| Others |
North America Hazardous Location Thermostats Market Research FAQs
What is the current NA Hazardous Location Thermostats Market size?
The NA Hazardous Location Thermostats Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in NA Hazardous Location Thermostats Market?
Pentair Ltd, Johnson Controls, Inc., R. Stahl, Inc., Honeywell International, Inc. and Emerson Industrial Automation are the major companies operating in the NA Hazardous Location Thermostats Market.
What years does this NA Hazardous Location Thermostats Market cover?
The report covers the NA Hazardous Location Thermostats Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the NA Hazardous Location Thermostats Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
NA Hazardous Location Thermostats Industry Report
Statistics for the 2024 NA Hazardous Location Thermostats market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. NA Hazardous Location Thermostats analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
