Press release
North America Explosion Proof Equipment Market Size and Growth Opportunities with COVID19 Impact Analysis | BARTEC Group, Eaton Corporation plc, Emerson Electric Co.
The North America explosion proof equipment market is expected to grow from US$ 2,701.87 million in 2021 to US$ 4,027.90 million by 2028. It is estimated to grow at a CAGR of 5.9% from 2021 to 2028.With continuous expansion in the North America oil & gas industry, the demand for explosion-proof equipment is increasing substantially. According to an article published by the ministry of India in December 2021, crude oil consumption is expected to reach 500 million tons by 2040 from 221.56 million tons in 2017 at a CAGR of 3.6%. According to the US Energy Information Administration data in January 2022, the annual average US crude oil production is anticipated to increase to 11.8 million b/d and 12.4 million b/d in 2022 and 2023, respectively.
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Explosion-proof equipment plays a crucial role in the oil & gas industry as employees in the oil & gas industry have to work at hazardous sites. In areas where flammable liquids, gases, vapors, or combustible dust exist in sufficient quantities, safety is the priority for keeping employees and operators safe. Generally, refineries, oil plants, and offshore facilities are constantly exposed to flammable substances. And, to combat the high potential for ignition, manufacturers must produce and rigorously test explosion-proof assets.
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Major Key players covered in this report:
• ABB Ltd
• BARTEC Group
• Eaton Corporation plc
• Emerson Electric Co.
• Hubbell Incorporated
• R. STAHL AG
• Rockwell Automation, Inc.
• Siemens AG
NORTH AMERICA EXPLOSION PROOF EQUIPMENT MARKET SEGMENTATION
North America Explosion Proof Equipment Market, by System
• Junction Boxes & Enclosures
• Lighting System
• Monitoring System
• Signaling Devices
• Automation System
• Cable Glands
• HVAC Systems
• Others
North America Explosion Proof Equipment Market, by Protection Method
• Explosion Prevention
• Explosion Containment
• Explosion Segregation
North America Explosion Proof Equipment Market, by Industry
• Pharmaceutical
• Mining
• Oil & Gas
• Manufacturing
• Food Processing
• Energy & Power
• Chemical & Petrochemical
• Others
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Further, the usage of explosion-proof equipment in the oil & gas refineries has aided in reinforcing safety measures for unpredictable work environments. The existence of dangerous compounds in oil and gas facilities denotes several safety challenges for the workers. For instance, hydrocarbon processing, including ethane, fossil fuels, methane, and propane, is a critical process that needs to be carried out in stable atmospheres. Therefore, with the growth in the North America oil & gas industry, the demand for explosion-proof equipment is also increasing to ensure the safety of all operators and employees working in oil & gas factories.
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