Global Explosion Proof Equipment Market Scenario 2020-2027
The global Explosion Proof Equipment Market is forecasted to be worth USD 10.77 Billion by 2027, according to a current analysis by Emergen Research. The Explosion Proof Equipment market is forecasted to grow substantially throughout the forecast period due to the growing government policies in labor protection. The rising willingness to improve protection in industrialized areas is expected to further augment the market growth. Besides, the increasing concern for preventing explosions among several industries is also expected to boost the market growth.
However, over the forecast timeline, the lack of standardization and increased cost of the security system poses as a market hindrance for explosion-proof equipment.
The Global explosion proof equipment Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
Dynamics of the global Explosion-Proof Equipment Market:
The Market is being driven forward by the rising number of explosions in the mining, oil and gas, and other industries, as well as the exposure of people and equipment to a hazardous environment that is prone to explosions and fires. The government has also put tight regulations in place to safeguard infrastructure and human lives.
Fast sector advancement and the automobile industry are other factors that support the market’s expansion. Demand for natural gas and coal rises in tandem with rising energy use. As these gadgets are frequently used to stop explosions during the creation of electricity from natural resources, this energy is the explosion-protection industry. Explosion Proof Equipment Market is anticipated to expand at the fastest rate during the projected period due to rising demand from numerous industry verticals, including industrial, marine, mining, food preparation, and others.
For the businesses involved, managing toxic gas exposure at work has long been a worry. Several governments have implemented stringent regulations regarding the appropriate use of explosion-proof machinery. According to the new rules, all industries have started up again. This feature is anticipated to advance the sector.
Some Key Highlights from the Report:
- In October 2020, Rockwell Automation Inc. has announced the acquisition of Oylo, a privately held supplier of industrial cybersecurity systems. In this rapidly developing market, the acquisition of Oylo further increases Rockwell’s global distribution platform and extends the range of cybersecurity services applicable to the industrial market.
- Throughout the forecast timeframe, the prevention segment is anticipated to hold the largest market with a CAGR of 5.8%. It is the only appropriate protection method for Zone 0, and it functions in the context of Zone 1 or 2.
- For the forecast timeframe, the gas explosion protection expected to be the largest market in the Explosion Proof Equipment Market as dangerous areas such as Zone 0, Zone 1, and Zone 2 can be protected by this.
- Over the forecast period, the Zone 0 segment is expected to capture the largest market. An explosive atmosphere consisting of a mixture of air and flammable substances, in the form of gas, vapor, or mist, is continuously or regularly present in this zone for a prolonged period.
- The segment of cable glands is expected to grow significantly over the forecast period since cable glands perform significant functions in managing cables.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Top competitors of the explosion proof equipment Market profiled in the report include:
Honeywell International Inc., Rockwell Automation, Inc., ABB Ltd., Eaton Corporation Plc, Siemens AG, R Stahl AG, Hatch Transformers Inc, Pentair plc, Bartec GmbH, and Cortem S.p.A. among others.
Emergen Research has segmented the global Explosion Proof Equipment Market on the basis of method, protection type, zone, application, end-use:
Method Outlook (Revenue, USD Billion; 2017-2027)
- Prevention
- Containment
- Segregation
Protection Type Outlook (Revenue, USD Billion; 2017-2027)
- Gas Explosion Protection
- Dust Explosion Protection
Zone Outlook (Revenue, USD Billion; 2017-2027)
- Zone 0
- Zone 1
- Zone 2
- Zone 12
- Zone 20
- Zone 21
- Zone 22
Application Outlook (Revenue, USD Billion; 2017-2027)
- Lifting Systems
- Cable Glands
- Lighting Systems
- Junction Boxes & Enclosures
- Material Handling Systems
- Switches & Sockets
- HVAC
- Panel Boards & Motor Starters
- Surveillance & Monitoring Systems
- Signaling Systems
- Switchgear
- Others
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Mining
- Pharmaceuticals & Chemicals
- Energy & Power
- Oil & Gas
- Others
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Market Overview:
The research report on the explosion proof equipment market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the explosion proof equipment business sphere.
Regional Analysis of the explosion proof equipment Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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