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Explosion Protection Equipment Market in UK Latest Amendments 2019-2026 By: ABB Group, Adalet, Bartec GmbH, Eaton Corporation, Emerson Electric, Extronics

02-17-2020 06:12 PM CET | Industry, Real Estate & Construction

Press release from: allied market research

Explosion Protection Equipment Market in UK Latest Amendments

Rise in demand for location lighting, strict government regulations, and the growth of pharmaceutical and food & beverage industries fuel the growth of the UK explosion protection equipment market. However, slow economic activity after Brexit and staggering of mining industries in the UK hinder the market growth. On the other hand, focus on explosion proof equipment for aerospace and defense industries present new opportunities in the market.

According to the report, the UK explosion protection equipment industry generated $78.4 million in 2018, and is expected to reach $112.5 million by 2026, registering a CAGR of 4.5% from 2019 to 2026.

The automation system segment to maintain its lead position by 2026

Based on applicable system, the automation system segment held nearly one-fifth of the total market share in terms of revenue of the UK explosion protection equipment market in 2018, and will maintain its lead position by 2026. This is due to surge in adoption of explosion proof cable glands in oil refineries owing to stringent regulations.

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The explosion segregation segment to maintain its leadership status during the forecast period

Based on protection method, the explosion segregation segment accounted for the highest market share, accounting for more than two-fifths of the UK explosion protection equipment market in 2018, and will maintain its leadership status during the forecast period. This is attributed to rise in demand in for explosion segregation equipment in refining plants, plastic manufacturing, and oil & gas industries for taking preventive measures against explosive substances. On the other hand, the explosion prevention segment would register the highest CAGR of 5.0% from 2019 to 2026.

The oil & gas segment to maintain its dominant share during the forecast period

Based on industry verticals, the oil & gas segment held the largest share in the UK explosion protection equipment market in 2018, contributing to nearly one-fourth of the total share, and is projected to maintain its dominant share during the forecast period.

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Top Industry Players

ABB Group, Adalet, Bartec GmbH, Eaton Corporation Inc., Emerson Electric Co., Extronics Ltd., Pepperl+Fuchs GmbH, R. Stahl Aktiengesellschaft, Rockwell Automation, Inc., and Siemens AG. Many companies have focused on new product launches to strengthen their presence in the market.

Access Full Report Summary:https://www.alliedmarketresearch.com/uk-explosion-protection-equipment-market

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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