According to a recent market study published by Growth Market Reports titled, “Global Explosion Panels Market by Type, Application, By End-user Industries and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 295.9 Million in 2019 and is expected to grow at a healthy growth rate of 6.8% by the year 2027. The global explosion panels market is anticipated to grow owing to increasing demand for an effective & cost-efficient method of passive explosion protection, rising applications across various end-user industries, and surging demand for explosion vents.

The global explosion panels market is fragmented based on type, application, end-user industries and region. Based on type, the explosion panels market is categorized into VSP explosion panel, VSE explosion panel and VSS explosion panel. On the basis of application, the explosion panels market is segregated into dust explosion, gas explosion, and others. By end-user industries, the explosion panels market is segmented into oil & gas, automobile, chemical, pharmaceutical, food & beverages, and others. Based on region, the global explosion panels market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific region is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

Request a free sample copy: https://growthmarketreports.com/request-sample/59

In year 2020, the explosion panels market is expected to witness the slow growth due to COVID 19 pandemic. The ongoing COVID-19 pandemic has massively disrupted the demand supply chain. Widespread lockdown across major economies such as China, India, and others to curb the pandemic as well as turning large industries into quarantine shelter places for the sick people has shutdown places worldwide. The industries are facing adverse effect of this pandemic on the production cycle and explosion panel manufacturers are one of them. Hence, the global explosion panel market is anticipated to witness a decline in demand for explosion panels as negative effect incurred by this pandemic. However, the market is expected to witness V curve in terms of growth pattern as an effect of market recovery after the pandemic.

As per Growth Market Reports industry analyst Vidya Jadhav, “The simple installation method and long service time of explosion panels are prime factor propelling the demand for these panels. Moreover, the increasing industrial activities across economies such as India, China, and South East Asian countries to drive the explosion panels demand. “

Key Takeaways from the Study:

  • The U.S. based Fike Corporation and Construction Specialties, Inc. held around one fourth of the market share of global explosion panels market in year 2019.
  • The Asia Pacific region accounts for a major share of the market, followed by Europe. The market in North America is projected to expand at significant CAGR during the forecast period.
  • As per fire safety norms imposed on the oil & gas industry, companies need to install various types of devices such as certified explosion panels or vents for explosion protection. These explosion venting systems provide protection from industrial explosion hazards by allowing gases to escape from the panel or vent opening and thus, adopted by the companies operating in the oil & gas industry.
  • Investments by various industries are increasing significantly to improve safety measures. Industrial safety plays a vital role in protecting employees, industrial environment, and equipment & assets. The demand for industrial safety equipment is rising substantially in the oil & gas, automotive, and construction industries.

Report Scope:

Report Metric

Details

Market Value in 2019

USD 295.9 Million

Market Growth Rate (from 2021 to 2027)

6.8%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (USD Million)

Market Segments

By Types, By Applications, By End-user Industries

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

Fike Corporation, Construction Specialties, Inc., Halma plc, BS&B Safety Systems, L.L.C., Continental Disc Corporation, Atex Explosionsschutz GmbH, REMBE, Stif, CV Technology, alle rechten voorbehouden aan Stuvex, Euratex, DonadonSDD Srl, RSBP Ltd., 4B GROUP, ZOOK Enterprises, LLC., CMC Technologies Pty Limited, FDC Co., Ltd., POPDISC, Camfil APC, Flexospan Steel Buildings, Inc.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Explosion panels manufacturers, Explosion Vents Manufacturers, raw material suppliers, primary respondents, and distributors.
  • Demand Side: Oil & gas companies, automobile companies, chemical companies, pharmaceutical companies, and food & beverages companies
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
  • Associations and Industry Bodies: National Fire Protection Association, U.S. Chemical Safety and Hazard Investigation Board, International Trade Organization, Occupational Safety and Health Administration (OSHA), National Safety Council (NSC), American Society for Testing and Materials (ASTM), European Committee for Standardization (CEN), International Organization for Standardization (ISO), and others.