Intrinsically Safe Equipment Market to Grow

The market for intrinsically safe equipment is projected to grow over the next five years—in some regions more than others— reports a recent market study.

10/14/2002


The market for intrinsically safe equipment is projected to grow over the next five years—in some regions more than others— reports a recent market study.

The specific equipment and wiring researched by Venture Development Corp. (VDC), Natick, Mass., includes devices, such as switches, thermocouples and solenoid valves, which don’t release electrical or thermal energy, and are therefore considered “intrinsically safe” for explosion-prone hazardous areas.

Heading the pack, Asia is expected to see 11.2% compounded annual growth through 2006; the Middle East market is projected to increase 7.3%; 6.5% growth is anticipated for North America; and Europe should see 3.4% growth over this time, according to VDC.

Even though the projected growth rate is lower for Europe, the market was already at $403 million in 2001, as compared to $191 million in North America. The study cites a number of reasons for this disparity, including the fact that intrinsic-safety methods are much more accepted in Europe, whereas in North America, explosion-proof methods are more preferred.

For more information on VDC’s “European and North American Markets for Intrinsically Safe Equipment” study, visit www.vdc-corp.com .





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