DUBLIN--(BUSINESS WIRE)--The "Explosion Proof Equipment Market to 2027 - Global Analysis and Forecasts by Protection Method; Type; and Industry" report has been added to ResearchAndMarkets.com's offering.
The global explosion proof equipment market was valued at US$ 8.10 Bn in 2018 and is expected to reach US$ 14.33 Bn by 2027 with a CAGR growth rate of 6.7% in the forecast period from 2019 to 2026.
Explosion proof equipment includes the devices, products, and solutions that are installed for the prevention of sparking that can lead to a blast. The installation of these products in hazardous locations ensures better productivity and increased safety. The incorporation of monitoring and automation systems provides efficient detection and tracking, along with monitoring the functioning of the equipment. Therefore, these components help in detecting accidental explosions, leak of hazardous gases, or any other complications during the production. It provides additional safety to the machinery, personnel, and surroundings.
Global certification for the use of equipment and devices in a hazardous location is essential to compete in the present modern world. A player operating in the market can accelerate its global product acceptance by bundling services. Combining hazardous locations services can help in attaining access to the worldwide market, reduce cost, as well as reduce time to market. In the highly competitive explosion proof equipment market, international expansion complicates this task by necessitating manufacturers to identify and comprehend global certification requirements along with applying them to their innovations.
In the global explosion proof equipment market, Asia Pacific is anticipated to grow with the highest CAGR during the forecast period majorly due to industrial growth in the region. Further, growth in the automation sector and stringent government regulations are the factors strengthening the explosion-proof equipment market. Whereas, Europe holds a significant share in the explosion-proof equipment market, followed by North America and the Asia Pacific.
The explosion proof equipment market globally is segmented by type into junction boxes & enclosures, lighting system, monitoring system, signaling devices, automation system, cable glands, HVAC systems, and others. Geographically, the explosion-proof equipment market is divided into five regions including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Explosion Proof Equipment Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
5. Explosion Proof Equipment Market - Key Industry Dynamics
5.1 key market Drivers
5.1.1 Growth in Oil & Gas Industry
5.1.2 Favourable Government Regulations
5.2 Key Market Restraints
5.2.1 High Capital Requirement
5.3 Key Market Opportunity:
5.3.1 Growth in the Construction Sector
5.4 Key Future Trends
5.4.1 Integration with IoT
5.5 Impact Analysis
6. Explosion Proof Equipment- Global Market Analysis
6.1 Global Explosion Proof Equipment Market Overview
6.2 Global Explosion Proof Equipment Market Forecast and Analysis
6.3 Market Positioning/Market Share
7. Global Explosion-Proof Equipment Market Analysis - By Systems
7.2 Global Explosion-Proof Equipment Market Breakdown, By Systems, 2018 & 2027
7.3 Junction Boxes & Enclosures
7.4 Lighting System
7.5 Monitoring System
7.6 Signaling Devices
7.7 Automation System
7.8 Cable Glands
7.9 HVAC Systems
8. Global Explosion-Proof Equipment Market Analysis - By Protection Method
8.2 Global Explosion-Proof Equipment Market Breakdown, By Protection Method, 2018 & 2027
8.3 Explosion Prevention
8.4 Explosion Containment
8.5 Explosion Segregation
9. Global Explosion-Proof Equipment Market Analysis - By Industry
9.2 Global Explosion-Proof Equipment Market Breakdown, By Industry, 2018 & 2027
9.5 Oil & Gas
9.7 Food Processing
9.8 Energy & Power
9.9 Chemical & Petrochemical
10. Explosion Proof Equipment Market - Geographical Analysis
11. Industry Landscape
11.1 Merger & Acquisition
11.2 Market Initiative
11.3 New Development
12. 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
For more information about this report visit https://www.researchandmarkets.com/r/1nmbyx