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Global Explosion Proof Equipment Market Rising Trends, Growth, Demand, Top Company, Region, Applications, Drivers- 2027




May 14, 2019



The global explosion proof equipment market accounted to US$ 8.1 Bn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 – 2027, to account to US$ 14.33 Bn by 2027.

 

Geographically, the explosion proof equipment market is segmented into North America, APAC, Europe, MEA, and SAM regions. Europe leads the oilfield communication market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. Increase in the number of ferrous and non-ferrous metal production and processing, petroleum, coal, chemicals, cement, pharmaceuticals, aerospace, passenger and commercial vehicles, rail transportation equipment, industrial equipment, construction equipment, shipbuilding, electronics and telecommunications equipment, electrical power equipment, F&B, paper and textile industries in the region is fueling the explosion proof equipment market in Europe. North America is the second largest market in the explosion proof equipment market. Apart from Europe and North America, APAC remains the third largest geographic segment, as with the support of the government in funding in Asian countries, the explosion proof equipment market in APAC is progressing. Moreover, on a continuous basis, the oil & gas industry of Asia is growing driven by rising demand and investment activities which makes the region to observe a high number of oil & gas projects.

 

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Global Explosion proof equipment Market – Company Profiles

  • ABB Ltd.
  • BARTEC GmbH
  • CORTEM S.P.A
  • EATON Corporation
  • Extronics Ltd.
  • Emerson Electric Co.
  • Hubbell Inc.
  • Rockwell Automation, Inc.
  • R.STAHL AG
  • Siemens AG

 

Robust development in the evolution of Oil & gas industry

The explosion proof equipment play a crucial role in oil & gas industry. The US has huge network of oil rigs in the North American continent as well as globally. This fact has helped propel the market over the years. The processing facilities of oil & gas are unsafe owing to the presence of hazardous compounds during the operations. The explosion proof equipment systems are deployed for preventing the ignition of spark from the electrical equipment. Also, the existence of dangerous compounds in the facilities of oil and gas denote several safety challenges for the workers. For instance, the hydrocarbon processing including ethane, fossil fuels, methane and propane, is a critical process that needs to be carried out under stable atmospheres. However, the processing plants of oil and gas are far from stable pertained to the exposure to hazardous and flammable compounds

 

Enormous escalation in construction industry

The construction sector is witnessing a decent growth rate in the recent time. The trend is foreseen to continue over the years, thereby, creating a huge space for industrial and commercial constructions. Governments of various countries are undertaking initiatives with a motive to support the construction industry. The growth in the construction of commercial buildings is anticipated to provide prosperous opportunities to the market to grow in the region thus, positively impacting the explosion proof equipment market.

 

Protection Method Insights

The global explosion proof equipment market by protection method is segmented into explosion prevention, explosion containment, and explosion segregation. Explosion prevetion segment dominates the explosion proof equipment market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. In the explosion prevention method, the intrinsically safety and equipment.

 

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.

 

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