Explosion Proof Equipment Market Outlook 2031
The Explosion Proof Equipment Market was USD 7.27 Billion in 2022 and is likely to reach USD 9.82 Billion by 2031, expanding at a CAGR of 3.4% during 2023 – 2031. The growth of the market is attributed to Increasing demand for integrated systems and rapid development in the automation sector. Moreover, ongoing innovation in the industrial sector is driving the market growth.
Combustible dust, flammable gases, and mists or vapors can potentially contribute explosive atmospheres in the workplace. Thus, to prevent the explosion, explosion-proof equipment and systems, including control and regulation devices, protective components, equipment and systems are required in the space.
Explosion Proof Equipment Market Trends, Drivers, Restraints, and Opportunities:
- Stringent government regulations to maintain workplace safety is one of the major drivers that is contributing to the growth of the market.
- Increasing consumption of energy is expected to augment the market growth.
- Lack of standardization can restrain the growth of the market.
- The outbreak of COVID-19 has negatively impacted the global explosion proof equipment market. This is due to the supply chain disruption. However, it is expected to recover soon.
- The installation of explosion proof systems & solutions within the various industry verticals is an ongoing trend in the explosion proof equipment market, creating lucrative opportunities for the industry players in the projected timeline.
Scope of Explosion Proof Equipment Market Report
The report on the global explosion proof equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Explosion Proof Equipment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Method of Protection (Explosion Proof, Explosion Prevention, and Explosion Segregation), Hazardous Zones (Zone 0, Zone 20, and Zone 1), End-users (Pharmaceutical, Chemical and Petrochemical, Mining, Energy and Power), Systems (Power Supply Systems, Material Handling, Motor, Automation Systems, Surveillance Systems, and Others)
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Regional scope
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North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ABB Group, Rockwell Automation Inc., R. Stahl AG, Bartec Group, Adalet, Siemens AG, Intertek Group Plc, Pepperl + Fuchs GmbH, and Cooper Industries (Eaton).
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Global Explosion Proof Equipment Market Segment Insights
Explosion proof segment to grow at a rapid pace
Based on method of protection, the market is divided into explosion proof, explosion prevention, and explosion segregation. The explosion proof segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. Explosion proof systems are constructed in such a way that an internal ignition of a flammable atmosphere is not transmitted outside the enclosure, thereby preventing the ignition of surrounding flammables.
Zone 20 segment to hold a major market share
On the basis of hazardous zones, the market is divided into zone 0, zone 20, and zone 1. The zone 20 segment is anticipated to account for a major market share due to the high adoption of explosion proof equipment in hazardous location to increase safety and better productivity. For instance, the explosion proof junction box offered by IPSI is widely used in hazardous locations that connect wells and differential-mode spark gaps on insulating joints.
Mining segment to account a significant market share
In terms of end-users, the market is segregated into pharmaceutical, chemical and petrochemical, mining, and energy and power. The mining segment is anticipated to account for a significant market share due to high risk of fire or explosion hazards. This is owing to presence of flammable gases, combustible liquid–produced vapors, flammable liquid–produced vapors, combustible dusts, and ignitable fibers/ flying particles present in the air in enough quantities to produce explosive mixtures, which may ignite on exposure to extreme conditions of temperature and pressure.
Automation systems segment to dominate the market
Based on systems, the market is divided into power supply systems, material handling, motor, automation systems, surveillance systems, and others. The automation systems is projected to grow significantly owing to availability of various explosion proof applicable systems, such as junction boxes, generation and distribution systems, lifting systems, and lighting systems. There are three explosion protection methods, namely limiting energy, explosion containment, and explosion segregation protection. These methods are used when the explosion is confined to a specific area.
North America to hold a considerable market share
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to account for a considerable market share owing to the presence of multiple pharmaceutical manufacturing facilities. Companies are expected to comply with the strict standards set by FDA and are adopting explosion proof machinery in the hazardous locations.
Segments
The Global explosion proof equipment have been segmented on the basis of
Method of Protections
- Explosion Proof
- Explosion Prevention
- Explosion Segregation
Hazardous Zones
End-users
- Pharmaceutical
- Chemical and Petrochemical
- Mining
- Energy and Power
Systems
- Power Supply Systems
- Material Handling
- Motor
- Automation Systems
- Surveillance Systems
- Others
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
Competitive Landscape
The major players of the market are ABB Group, Rockwell Automation Inc., R. Stahl AG, Bartec Group, Adalet, Siemens AG, Intertek Group Plc, Pepperl + Fuchs GmbH, and Cooper Industries (Eaton).
Companies are investing in research and development, and focusing on engaging in mergers, expansions, acquisitions, and partnerships to expand their market share.