Press release
Explosion Proof Equipment Market Details: SWOT Analysis, New Project Investment Feasibility, Budget, Solution and Upcoming Project Schedule
The global explosion proof equipment market is estimated to reach $8,217 million, registering a significant CAGR of 9.3% during 2016 to 2022.
North America is expected to dominate the global market throughout the analysis period, registering a notable CAGR of 8.4%.
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The explosion-prone industries based out in North America need to comply with the NEC standard, which defines the design and development of equipment on the basis of class, division, and group system. Similarly, ATEX or IEC standards are followed in Europe, which segregates an area on the basis of zone.
These systems follow a similar modus operandi, and demarcate hazardous areas that are prone to explosive materials apart from assigning the category of equipment that need to be used in such locations. An ATEX-compatible HVAC system offered by Intertek ensures high safety of labor and automatic climate control system. The system is best suited for oil & gas refineries, petrochemical, and manufacturing plants, as it regulates the atmospheric pressure to prevent the entry of dust or gas.
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After a massive success of other ignition-resistant products, Larson Electronics launched an explosion-proof analog camera in September 2016 for use in a vessel or tanker to monitor internal operations. The camera features an infrared LED range that assures nocturnal visibility and remote maneuverability from a control room, to save time and money apart from providing safety at workstations.
Market players have focused on adopting various strategies, such as product launch, acquisition, and product expansion, among others to expand their market outreach. For instance, in August 2016, R. Stahl AG, an explosion-protected products specialist, launched an Ethernet connectivity with remote I/O system, ideal for Zone 1 and Zone 2 hazardous locations. This system ensures reliability of data transfer in an ignition-prone environment.
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The key market players profiled in the report include ABB Group, Rockwell Automation Inc., R. Stahl AG, BARTEC Group, Adalet, Siemens AG, Intertek Group Plc, Pepperl + Fuchs GmbH, and Cooper Industries (Eaton).
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