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Isolated Barriers Market Size Was Valued At US$ 1,171.4 Million In 2022, And Anticipated To Grow At A CAGR Of 4.4% Over The Forecast Period

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Global Isolated Barriers Market is Growing requirement to comply with government regulations and policies across the globe and Rising number of onshore and offshore oil exploration

The types of control and instrumentation signals that isolated barriers can work with include transmitters, thermocouples, solenoids, NAMUR sensors, valves, and other similar IS rated devices. Major industries installing isolated barriers includes Oil & gas, chemical, energy & power plant, pharmaceuticals, metallurgy and others.

Growing adoption of the intrinsic safety modules among end-users, specifically among oil & gas, energy and chemical industries are likely to boost the growth of the isolated barriers market across the world. This is primarily due to the increasing emphasis on providing safety measures to the workers working in the hazardous areas and plants. However, due to the recent Covid-19 pandemic, these industries are witnessing a slower growth rate in small term and is anticipated to diminish over the forecast period.

The worldwide demand for Isolated Barriers market was estimated at around USD 1,171.4 million in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 2,156.7 Million. The industry players and analysts predict theglobal Isolated Barriers marketgrowth of around 4.4% in terms of CAGR. The Safety Integrity Level (SIL) is one of the key parameter for measuring plant safety, specifically in the field of explosion protection. Hence, rising need to comply with the government regulations and policies is another major factor propelling the growth of the isolated barrier market across the globe.However, high installation cost of Isolated Barriers and high maintenance cost for Isolated Barriers are some of the challenges presented to Isolated Barriers market development and growth.

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Some of the leading and top Isolated Barriers companies in the global Isolated Barriers market include ABB Limited, Rockwell Automation, Yokogawa Electric Corporation, Eaton Corporation, Phoenix Contact, Pepperl+Fuchs, Dwyer Instruments Inc., R. STAHL, Omega Engineering, DRAGO Automation GmbH, Shanghai Chenzhu instrument CO., LTD., Wago Group, G.M. International srl among others. The leading five players such as ABB Limited, Rockwell Automation, Yokogawa Electric Corporation, Eaton Corporation, and Phoenix Contact hold around 35% market share of the global Isolated Barriers market.

On the basis of category, the worldwide Isolated Barriers market can be segmented into 0/4~20mA and 4~20mA, with the '4~20mA' category having the leading market share of about 60 percent, of the worldwide Isolated Barriers market. In terms of end-user, global Isolated Barriers market can be segmented into Oil and Gas, Chemical, Energy and Power Plants, Pharmaceutical, Metallurgy and Others. In terms of geography, North America region held the leading market share of around 30% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global Isolated Barriers market.

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