A thermostat is a device, which senses and maintains a system at a constant temperature by switching the devices on or off when needed. A thermostat is a component of a control system. It serves as a control unit to heat or cool the system or a component of heaters or air conditioners. There are thermostats that are specially designed for hazardous location temperature control known as hazardous location thermostats. It controls the heating, cooling, or ventilation systems with an adjustable knob for easy and convenient adjustments.
Rapid technological innovation with the growing number of industries such as petrochemical plants, oil refineries, grain elevators, pulp & paper mills, and others have led to a vigorous demand for the hazardous location thermostats market. Also, the growing safety measures stimulate the demand for the market. However, the high cost of installation is one of the major challenges faced by the market.
The market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into line-voltage thermostats and low-voltage thermostats. On the basis of zone, the market is segmented into zone 0, zone 1, and zone 2. On the basis of class, the market is segmented into class I, class II, and class III. On the basis of application, the market is segmented into coal preparation plants, sewage, treatment plants, paint storage areas, oil refineries, grain elevators, chemical storage & handling facilities, petrochemical facilities/oil rigs, and others. Geographically, it has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the market include Pentair Ltd., Johnson Controls, Inc., R. Stahl, Inc., Honeywell International, Inc., Watlow Electric Manufacturing Company, Schneider Electric SA, Emerson Industrial Automation, Tempco Electric Heater Corporation, ABB Ltd, and Indeeco.
- Porters five forces model helps analyze the potential of buyers & suppliers and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.
- It outlines the current trends and future scenario of the market from 2016 to 2023 to understand the prevailing opportunities and investment pockets.
- This report provides an in-depth analysis of the hazardous location thermostats market to identify potential investment pockets.
- The key drivers, restraints, opportunities, and their detailed impact analyses have been elucidated…