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