Explosion Proof Equipment Market Size, Industry Growth, Report 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Explosion Proof Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global explosion proof equipment market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Explosion Proof Equipment Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 10,145 Million |
| Market Forecast in 2028 | US$ 14,555 Million |
| Growth rate (2023 to 2028) | CAGR of 5.9% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What are Explosion Proof Equipment?
Explosion-proof equipment is an apparatus that can withstand and prevent the unwanted explosion of flammable materials by monitoring the use of proactive builds and robust materials in hazardous locations. It is enclosed in a case and manufactured using stainless steel, silver, cast aluminum, and copper-aluminum alloys that offer high durability and resistance to moisture, impact, corrosion, and humidity. It is safe and reliable in explosive environments and designed to avoid malfunction in electrical process equipment. It is widely used in lighting systems, access control systems, circuit breakers, communication devices, cable glands, and panel boards. Since it helps reduce potential damage, enhance safety, boost output, and promote a high service standard, explosion-proof equipment is gaining immense traction across the globe.
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What are the growth prospects and trends in the Explosion Proof Equipment Industry?
The global explosion proof equipment market is primarily driven by the increasing product adoption in numerous industries, including mining, chemical, refining, and wastewater treatment, due to rising safety standards. Additionally, the rising incidences of industrial fires due to electrical sparks in machines and tools are positively influencing the market growth.
Moreover, the introduction of automated products with signaling systems, spark-resistant devices, media converts, and industrial monitors for harsh-environment applications is another major growth-inducing factor. Besides this, the implementation of stringent rules and policies by governments of numerous countries to protect the environment and promote worker safety has augmented product demand.
Furthermore, the development of non-metallic equipment that exhibits strong chemical and corrosion resistance and is made using plastics, wood, leather, and thermoplastic polymers is contributing to the market growth. Other factors, including the rising product applications in wireless connectivity services, escalating demand for integrated systems, and surging product adoption in the automation sector, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Protection Method:
- Explosion Prevention
- Explosion Containment
- Explosion Segregation
Breakup by Applicable System:
- Cable Glands
- Junction Boxes and Enclosures
- Lifting and Material Handling System
- Lighting System
- Automation System
- Surveillance and Monitoring System
- Signaling Devices
- Others
Breakup by Industry Vertical:
- Oil and Gas
- Pharmaceutical
- Manufacturing
- Marine
- Mining
- Food Processing
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Adalet, Bosch Rexroth AG (Robert Bosch GmbH)
- Eaton Corporation PLC
- Emerson Electric Co.
- Excalibur Miretti Group LLC
- Extronics Ltd
- Honeywell International Inc.
- Johnson Controls
- Parker Hannifin Corporation
- Pepperl+Fuchs SE
- Rockwell Automation Inc.
- Siemens AG.
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