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Explosion Proof Equipment Market Outlook to 2027 Profiling Prominent Players Hubbell, R.STAHL, Extronics, CORTEM, BARTEC, EATON, Emerson Electric, ABB, Rockwell Automation, Siemens

05-09-2019 12:25 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
Explosion Proof Equipment Market Worth USD 14.33 Billion by 2027 | CAGR of 6.7%

Explosion Proof Equipment Market Worth USD 14.33 Billion by 2027 | CAGR of 6.7%

The global explosion proof equipment market accounted to US$ 8.1 Bn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 – 2027, to account to US$ 14.33 Bn by 2027.

Protection Method Explosion Proof Equipment Market Insights:-

The global explosion proof equipment market by protection method is segmented into explosion prevention, explosion containment, and explosion segregation. Explosion prevetion segment dominates the explosion proof equipment market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. In the explosion prevention method, the intrinsically safety and equipment prevents an explosion by restricting the release of sufficient electrical energy to ignite explosive gases.

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Geographically, the explosion proof equipment market is segmented into North America, APAC, Europe, MEA, and SAM regions. Europe leads the oilfield communication market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. Increase in the number of ferrous and non-ferrous metal production and processing, petroleum, coal, chemicals, cement, pharmaceuticals, aerospace, passenger and commercial vehicles, rail transportation equipment, industrial equipment, construction equipment, shipbuilding, electronics and telecommunications equipment, electrical power equipment, F&B, paper and textile industries in the region is fueling the explosion proof equipment market in Europe. North America is the second largest market in the explosion proof equipment market. Apart from Europe and North America, APAC remains the third largest geographic segment, as with the support of the government in funding in Asian countries, the explosion proof equipment market in APAC is progressing. Moreover, on a continuous basis, the oil & gas industry of Asia is growing driven by rising demand and investment activities which makes the region to observe a high number of oil & gas projects.

Global Explosion Proof Equipment Market Key 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

Explosion Proof Equipment Market Insights:-

Robust development in the evolution of Oil & gas industry:

The explosion proof equipment play a crucial role in oil & gas industry. The US has huge network of oil rigs in the North American continent as well as globally. This fact has helped propel the market over the years. The processing facilities of oil & gas are unsafe owing to the presence of hazardous compounds during the operations. The explosion proof equipment systems are deployed for preventing the ignition of spark from the electrical equipment. Also, the existence of dangerous compounds in the facilities of oil and gas denote several safety challenges for the workers. For instance, the hydrocarbon processing including ethane, fossil fuels, methane and propane, is a critical process that needs to be carried out under stable atmospheres. However, the processing plants of oil and gas are far from stable pertained to the exposure to hazardous and flammable compounds

Enormous escalation in construction industry:

The construction sector is witnessing a decent growth rate in the recent time. The trend is foreseen to continue over the years, thereby, creating a huge space for industrial and commercial constructions. Governments of various countries are undertaking initiatives with a motive to support the construction industry. The growth in the construction of commercial buildings is anticipated to provide prosperous opportunities to the market to grow in the region thus, positively impacting the explosion proof equipment market.

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System Explosion Proof Equipment Market Insights:-

The explosion proof equipment market by the system is further segmented into junction boxes & enclosures, lighting system, monitoring system, signalling devices, automation system, cable glands, hvac systems, and others. Cable galnds dominates the explosion proof equipment market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The cable glands perform various significant roles in the cable management. Depending upon application or location, the cable glands needs specific quality to suit the environment of the explosion proof equipment market.

Explosion Proof Equipment Industry Insights:-

The explosion proof equipment market by communication network technology is segmented into pharmaceutical, mining, oil & gas, manufacturing, food processing, energy & power, chemical & petrochemical, and others. The explosion proof equipment market by oil & gas segment led the market in 2018 with the maximum market share and is expected to continue its dominance during the forecast period. The explosion proof equipment is widely used in refineries, drilling rigs, maintenance of wire rope hoists for a natural gas liquefaction plants (LNG plants) to prevent occureence of explosions.

Explosion Proof Equipment Market Strategic Insights:-

Market Initiatives was observed as the most adopted strategy in the global explosion proof equipment market. Few of the recent market initiatives are listed below:

2019: ABB Ltd. announced an investment of US$ 150 Mn in Shanghai, China. The investment is aimed to build most advanced, automated and flexible robotics factory. This production line will focus on machine learning, digital and collaborative solutions, and the R & D team will focus on AI research.

2018: Simotics XP Chemstar is a customized solution designed for chemical & petrochemical industries and oil & gas. These are the explosion proof low-voltage motors which are provided with a preconfigured industry-specific option packages customized with requirements of the process industry.

2017: Hubbell has completed an acquisition of Aclara Technologies LLC, which is an affiliate of the Sun Capital Partners, Inc. The acquisition combined Aclara and Hubbell Power Systems’s strength and has offered an opportunity to integrate smart infrastructure solutions and strong customer relationships of Aclara into the portfolio of Hubbell.

2016: MR3000 DMS is one of tailor-made solution, developed for dam monitoring. The integrated OVP (Over Voltage Protection), AC/DC converter, internal battery, and terminals projects MR3000 DMS as a perfect stand-alone unit. Moreover, through Fiber Optic lines, it enable motion recorders to monitor and locate every strong motions on the multiple locations of the dams.

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GLOBAL EXPLOSION PROOF EQUIPMENT MARKET SEGMENTATION

Global Explosion Proof Equipment Market – By Type
• Explosion Prevention
• Explosion Containment
• Explosion Segregation

Global Explosion proof equipment Market - By System
• Junction Boxes & Enclosures
• Lighting System
• Monitoring System
• Signalling Devices
• Automation System
• Cable Glands
• HVAC Systems
• Others

Global Explosion proof equipment Market - By Industry
• Pharmaceutical
• Mining
• Oil & Gas
• Manufacturing
• Food Processing
• Energy & Power
• Chemical & Petrochemical
• Others

Global Explosion proof equipment Market - By Geography
• North America
o U.S.
o Canada
o Mexico

• Europe
o France
o Germany
o Italy
o Russia
o UK
o Rest of Europe

• Asia Pacific (APAC)
o South Korea
o China
o India
o Japan
o Australia
o Rest of APAC

• Middle East & Africa (MEA)
o South Africa
o Saudi Arabia
o UAE
o Rest of MEA

• South America (SAM)
o Brazil
o Argentina
o Rest of SAM

Key Benefits to Purchase this Research:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global explosion proof equipment market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global in explosion proof equipment market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com
Website: https://www.theinsightpartners.com/reports/explosion-proof-equipment-market/?Opr-pK

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