According to the latest report by IMARC Group, titled “Explosion Proof Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global explosion proof equipment market reached a value of US$ 9,464.0 Million in 2021. Explosion-proof equipment refers to an apparatus enclosed in a case that is capable of preventing and withstanding the unwanted explosion of flammable substances. It is manufactured using cast aluminum, stainless steel, silver, and copper-aluminum alloys, providing high durability and resistance to impact, corrosion, moisture, and humidity. Explosion-proof equipment is widely used in access control systems, circuit breakers, cable glands, communication devices, lighting systems, and panel boards. It is designed to prevent a malfunction in electrical process equipment and is safe and reliable in explosive atmospheres. The equipment also assists in reducing potential damage, improving safety, increasing productivity, and promoting a high standard of service.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Explosion Proof Equipment Market Trends:
The increasing product adoption in several industries due to elevated safety standards is one of the key factors driving the market growth. Explosion-proof equipment is widely used in the mining, chemical, refining, and wastewater treatment industries to prevent fire or explosion hazards due to flammable gases, combustible liquids, and ignitable fibers. In line with this, the rising incidences of industrial fires due to electrical sparks in machines and tools are acting as another growth-inducing factor. Furthermore, stringent policies and regulations by governments across the globe to promote worker safety and environmental protection are providing an impetus to the market growth. Additionally, widespread product adoption in the hazardous areas of the oil and gas industry that eliminates the release of potential toxic and flammable substances is providing a considerable boost to the market growth. Apart from this, the introduction of automated products with spark-resistant devices, signaling systems, media converts, and industrial monitors for applications in harsh conditions is creating a positive outlook for the market. Moreover, the recent development of non-metallic equipment using plastics, wood, leather, and thermoplastic polymers that exhibit high chemical and corrosion resistance is favoring the market growth. Other factors, including increasing product adoption in the automation sector, widespread product utilization in wireless connectivity services, and rising demand for integrated systems, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 13,809.3 Million by 2027, exhibiting a CAGR of 6.20% during 2022-2027.
- On the basis of the protection method, the market has been divided into explosion prevention, explosion containment, and explosion segregation.
- Based on the applicable system, the market has been categorized into cable glands, junction boxes and enclosures, lifting and material handling, lighting, automation, surveillance and monitoring system, signaling devices, and others.
- On the basis of the industry vertical, the market has been classified into oil and gas, pharmaceutical, manufacturing, marine, mining, food processing, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being 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.
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