Oil and gas dominates $3.2bn hazardous area equipment market in Emea region

摘要

In 2012, around 70% of revenues from products designed for use in hazardous areas in the Emea (Europe, Middle East and Africa) region, came from the oil and gas industry. According to a report published last year by the market analyst IHS, the market was worth around $3.2bn in 2013, and will grow to $4.1 bn by 2016 - an annual growth rate of around 8.7%. "Despite the well-known fact that oil and gas is the most important industry for hazardous area equipment, the very high market share it held came as a surprise," says senior IHS automation analyst, John Morse. "The 2009 edition of the report also concluded that oil & gas was the leading market for hazardous area equipment, accounting for around half of revenues at that time. The new report suggests that there has been a significant increase in sales to this industry."