Hazardous Location Air Conditioners Market: Introduction
- Hazardous locations are the areas susceptible to explosion or fire hazards due to vapors, flammable gases, combustible dust, flammable liquids, or ignitable fibers. Air conditioners are installed in hazardous locations to tackle these explosion threats. Whereas, air conditioners in hazardous locations are designed to reduce heat accumulation within electrical enclosures, so as to maintain a safe operating temperature in these areas.
- The COVID-19 outbreak has led to the decline of industries, as governments of developed and developing economies have imposed lockdown, due to which the working of industries such as oil & gas, food & beverages, and chemicals have paused. This, in turn, has impacted production and manufacturing, and adversely affected the global economy. Thus, demand for hazardous location air conditioners has also been impacted.
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Global Hazardous Location Air Conditioners Market: Dynamics
Global Hazardous Location Air Conditioners Market: Key Drivers
- The growing mining industry is leading to a sustainable hazardous location air conditioners marketplace. For instance, in 2016, according to the National Mining Association, the U.S. alone produced raw materials worth US$ 74.6 Bn, which in turn, has created the demand for hazardous location air conditioners in mining industries.
- The increasing demand for energy across the globe to complement the need for better equipment control in energy and the utility sector is expected to fuel the growth of the hazardous location air conditioners market.
- Increasing installation of basic industrial air conditioners and industrial portable air conditioners for workers safety in manufacturing plants is projected to enhance the demand for hazardous location air conditioners. This is likely to boost the market during the forecast period.
- Growing adoption of hazardous location air conditioners in petroleum refining processes, metallurgical processes, carbon handling processing operations, and magnesium & aluminum powder processing, among others, is expected to trigger the growth of the hazardous location air conditioners market.
- The rising need for hazardous location air conditioners in various industries such as petrochemicals, oil & gas, paint and varnish, chemical, and food & beverages, is expected to accelerate the growth of the market. The hazardous working environments in these industries enhances the demand for hazardous location air conditioners.
- A growing aerospace and defense sector is set to drive the growth of the hazardous location air conditioners market in the upcoming years due to rising demand for air conditioning systems in various applications of the aerospace and defense sector that includes tent cooling, rocket launching, and missile silos.
Middle East & Africa to Account for Major Share of the Global Hazardous Location Air Conditioners Market
- In terms of region, the global hazardous location air conditioners market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- The Middle East & Africa region accounts for major market share across the globe, due to presence of oil & gas and petrochemical industries in the region.
- The hazardous location air conditioners market in Asia Pacific is projected to witness the fastest growth due to growing adoption of hazardous location air conditioners in various applications. This is a result of growing energy demand, and high demand for integrated control systems. Growth in mining and chemical industry across developing countries such as China and India is also expected to enhance the demand for hazardous location air conditioners.
- North America is anticipated to hold a significant share of the global hazardous location air conditioners market due to growth of the oil & gas sector, which is one of the major factors driving market growth.
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Global Hazardous Location Air Conditioners Market: Competitive Landscape
Key Players Operating in the Global Hazardous Location Air Conditioners Market
Companies operating in the hazardous location air conditioners market are increasingly investing in research and development to develop new and innovative techniques to manufacture hazardous location air conditioners. Manufacturers are also focusing on offering highly-efficient and reliable hazardous location air conditioners with advanced technology such as IoT (Internet of Things). The hazardous location air conditioners market is highly fragmented with the presence of numerous manufacturers, primarily in developing regions. Furthermore, manufacturers are striving to gain a competitive edge by increased product differentiation. Key players operating in the global hazardous location air conditioners market are:
- Aegex Technologies LLC.
- Atex Delvalle
- EIC Solutions
- Ice Qube, Inc.
- Johnson Controls.
- KACECO Engineering CO., LTD.
- Nance International.
- Rittal GmbH & Co. KG
- Shield Air Solutions, Inc.
- Thermal Edge
Global Hazardous Location Air Conditioners Market: Research Scope
Global Hazardous Location Air Conditioners Market Segmentation, by Type
- Central Air Conditioners
- Ductless Split Systems
- Vertical Units
- Packaged Terminal Air Conditioners (PTAC)
Global Hazardous Location Air Conditioners Market, by Distribution Channel
- Direct Sales (OEM)
- Indirect Sales
Global Hazardous Location Air Conditioners Market Segmentation, by End-user
- Oil & Gas
- Food & Beverage
- Others (energy & utilities, paint and varnish)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?