Implementation of new safety regulations for hazardous areas, exploration of new mining sites, growth in automation sector, growing concerns pertaining to safety of industrial plants, and increasing adoption of wireless communication will collectively define the direction that the global explosion proof equipment market takes in the upcoming years according to a business intelligence report published by analysts at IndustryARC. As per the report, the global explosion proof equipment market revenue will swell up to $7,906.7 million by the year 2023, expanding at a compound annual growth rate (CAGR) of 5.25% over the forecast period of 2019 to 2025.
The report is titled ‘Explosion Proof Equipment Market: By Protection Principle (Explosion Prevention Energy, Explosion Proof & Explosion Segregation); By Explosion Protection(Dust Explosion Protection, Fas Explosion Protection); By American Standards(Class, Division) By Zones; By Temperature Class; By Applicable System ( Cable Glands, Junction Boxes & Enclosures, Lifting Systems, Lighting Systems, Material Handling Systems, Panel Boards & Motor Starters, Switches & Sockets, Surveillance & Monitoring Systems, Signaling Systems, Switchgear, HVAC, Others); By End-User (Mining, Oil & Gas, Military Bases, Power Plants, Pump Stations, Aerospace & Aircraft, Food Processing, Marine Industry, Construction Manufacturing, Waste Management, Pharmaceuticals, Others); By Geography - Forecast (2019-2025).’ This report is equipped with a multitude of imperative market information including consumer trends, market forces, market entropy, and others, statistically researched and published by automation experts at IndustryARC.
Global Explosion Proof Equipment Market: Regional Analysis
According to the report, the global explosion proof equipment market is present in five major regions: Americas, Europe, APAC, Middle East, and Africa. Major industries that drive the market growth in these regions are oil and gas industry, chemical industry, manufacturing industry, food processing industry, and others. Since the most industrially developed region in the world is Europe, it inadvertently leads the market with an evaluated revenue share of $2,358.20 in the year 2018. German aerospace industry has contributed massively to the market and helped it attaining profitable growth. Since these industry caters to technologies required to explore the solar system, explosion proof equipment market has experienced considerable growth here.
Disruptive Trends In The Explosion Proof Equipment Market
Due to rising requirement for safety in industrial plants, this market has experienced considerable innovation in the past few years. According to the report, from June 2013 to June 2018, there were fifty-three product-related developments included product launches and upgradation. All these products are equipped with the latest industrial technologies. Warning Signals LLC, A leading company of this market had 11 product launches in the same period. There were several newer technologies will serve as disruptive trends in the market and will be adopted by other key explosions proof equipment market players.
- Eaton launched Halo Home, a brand new product that is a Bluetooth mesh and has a smart lighting system which allows homeowners to control lighting using a mobile device.
- XLF LED Floodlight was launched by ABB Ltd. This is an impressive technology that is used in hazardous areas. It is available in wide and narrow beam with an approximate lifespan of 50,000 hours.
- Eaton also introduced Lumark Night Falcon which is available in multiple wattages. It replaces high-intensity discharge products of 70 watts to up to 1000 watts. This technology will help in energy and maintenance savings for up to 75%.
Global Explosion Proof Equipment Market: Competitive Landscape
The explosion proof equipment market has experienced considerable growth over the years with key market players playing their part including Eaton Corporation PLC, Emerson Electric Co., Rockwell Automation, Inc., R. Stahl AG, Pentair PLC, ABB Ltd., PepperL+Fuchs GmbH, Siemens AG, E2S Warning Signals LLC, Adalet Inc., Pelco Corporation, General Electric Company, Extronics Ltd., Hawke International, AB Controls and Technology, Bartec GmbH, Cortem SPA, KH Industries, and MHE Demag, Marechal Electric SA.
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