Press release
Explosion-proof Lighting Market is predicted to grow at a CAGR of 6.1% between 2022-2029 | Size, Share, & Forecast
Explosion-proof Lighting Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/explosion-proof-lighting-market/
The factors driving the growth of Explosion-proof Lighting Market include increasing demand for explosion-proof lighting systems across industry verticals such as Pharmaceutical, Oil & Gas and Mining, strict regulations imposed by Governments regarding workers safety, rise in the production of LED products around the world. Moreover, growing adoption of advanced technologies by manufacturers, shift from traditional light systems to connected lighting systems, increase in the launch of innovative products, rising focus by enterprises on the development and production of oil & gas assets and improvements in the living standards. In addition, the increasing investments by major corporations on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Explosion-proof Lighting Market is hindered due to high cost of installing explosion-proof LED lights.
The major players operating in the market are OSRAM SYLVANIA Inc., Philips Lighting Holding, Larson Electronics, Eaton, Hubbell, Emerson Electric Co, Shenzhen Lighting Inc., TREVOS, a.s., ABB and Current Lighting Solutions, LLC, among others.
Based on Light Source, the LED segment is predicted to grow at a robust CAGR during the forecast period
As per the Explosion-Proof Lighting Market Research, Government regulations regarding energy conservation, surge in demand for explosion proof lighting systems in the residential areas, are some of the factors responsible for growth of the segment.
Based on End-Use Industry, the Oil & Gas segment is projected to expand at a remarkable CAGR over the forecast period
Increase in the number of oil exploration projects around the world, on-going developments in the oil and gas industry and rising focus by companies on complying with safety standards, are propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
Growing demand for explosion-proof lighting systems across end-use industries such as chemical & pharmaceutical, marine & shipbuilding and oil and gas, rapid urbanization, strict regulations imposed by governing bodies for enhancing workers safety and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
In 2021, Larson Electronics introduced the EPL-EMG-LB-50LED-RT-CM, an explosion-proof high bay LED light fixture for the application in Class I, Division 1 hazardous locations. Also, this LED fixture comes with an emergency battery backup and provides 7,000 lumens of light output while drawing only 50 watts.
In 2020, Eaton developed HPLN Ex LED explosion-proof lighting, developed to deliver reliable performance in difficult operating conditions in Zone 1 and 2 hazardous locations.
Market Segmentation
Segmentation by Type
High Bay & Low Bay
Linear
Flood
Segmentation by Light Source
LED
Fluorescent
Others
Segmentation by Safety Rating
Class 1
Class 2
Class 3
Segmentation by End-User Industry
Oil & Gas
Chemical & Pharmaceutical
Food & Beverage
Mining
Energy & Power
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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