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 share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Explosion Proof Equipment Market?
The global explosion proof equipment market size reached US$ 10,145 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 14,555 Million by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
What is Explosion Proof Equipment?
Explosion proof equipment is designed to prevent the ignition of flammable substances or the transmission of sparks or flames in potentially explosive environments. It is built with sturdy materials that can withstand external pressure and prevent the release of sparks or flames. It incorporates cooling systems or other methods to control the operating temperature within safe limits and prevent the overheating of internal components that can potentially ignite surrounding flammable substances.
What are the growth prospects and trends in the explosion proof equipment industry?
Increasing incidences of industrial fires due to electrical sparks in machines and tools represent one of the primary factors driving the demand for explosion proof equipment around the world.
Moreover, governing agencies of numerous countries are implementing stringent regulations to promote the safety of workers and the environment. In addition, the rising use of explosion proof equipment in the oil and gas industry that eliminates the release of potentially toxic and flammable substances is contributing to the market growth. Apart from this, key players are designing explosion proof equipment that can perform various tasks, including crane and hoist operations, iron roughnecks, and drill hydraulics and pneumatics.
Along with this, the advent of automated products with spark-resistant devices, signaling systems, and industrial monitors that can work in harsh conditions is propelling the growth of the market.
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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
Breakup by Industry Vertical:
- Oil and Gas
- Food Processing
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. and Siemens AG.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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