Explosion Proof Equipment Market by Industry Vertical (Pharmaceutical, Manufacturing, Marine, Mining,Food Processing, Signaling Devices, Others ), By Applicable System Type (Cable Glands,Junction Boxes & Enclosures, Lifting & Material Handling, Automation System, others), By Equipment Type (Explosion proof, Explosion Prevention, Explosion Segregation) Industry Trends, Estimation & Forecast, 2016 – 2024

 

Explosion Equipment Market was valued at $5 billion in 2016, and is projected to reach $10 billion by 2024, having a CAGR of 9.2 % during the forecast period of 2017 to 2024.In 2016, oil & gas industry segment generated the highest revenue share in the terms of global explosion proof equipment market.In 2016, oil & gas industry segment generated the highest revenue share in the terms of global explosion proof equipment market.

The explosion is defined as a sudden, abrupt and extreme increase in the energy of a system, which can be nuclear or mechanical in an uncontrolled amount resulting in a sudden increase in temperature and evacuation of gases. There are various causes responsible for the explosions, such as increased pressure, nuclear reactions, leakage of gases and dust. For preventing these explosions, numerous preventive measures are being taken into account during the designing phase of products used for electrical, mechanical, nuclear and chemical applications and these devices/products are termed as explosion proof equipment. Explosion proof equipment can be termed as those equipment/devices which have protection means for the isolation of casing, making the casing enough robust that none of the external environmental factors can affect that.

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Market Dynamics
Extreme conditions in manufacturing firms caused by presence of chemicals, toxic paints, and other combustible dusts result in extreme temperatures, and hence adoption of explosion proof equipment is increasing. The major drivers of global explosion proof equipment market have increased the adoption of explosion proof equipment in oil & gas industries, exploration of new mining sites and a steep rise in the demand of explosion proof equipment in automation sector. Newly formed, stringent safety regulations for hazardous areas is also a key factor, driving the growth of global explosion proof equipment market. However, lack of standardization, floundering of mineral and mining industries globally are becoming the key restraint for the global explosion proof equipment market.

Market segmentation

The segmentation of the explosion proof equipment is done on the basis of Industry Vertical, equipment type, applicable system type and geography. On the basis of industry vertical, the market is segmented as pharmaceuticals, manufacturing, marine, food processing, oil & gas, mining and others. By equipment type, the market is segmented into explosion prevention, explosion segregation and explosion proof equipment. On the basis of applicable system type, the market is segmented as cable glands, junction boxes and enclosures, lighting systems, material handling systems, automation systems, surveillance and monitoring, signaling systems and others. Geographically the market is segmented as North America, Europe, Asia-Pacific and Rest of World. North American region generated the highest revenue in terms of explosion proof equipment market in 2016, owing to emerging manufacturing industries in the region.
Some major market players are Adalet, Intertek Group Plc, Extronics Ltd, Bartec Group, R. Stahl AG, Pepperl+FuchsGmbh, Siemens AG, Rockwell Automation, Inc., Cooper Industries (Eaton), ABB Group, BCom Solutions, Inc. and Honeywell International Inc.

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EXPLOSION PROOF EQUIPMENT MARKET SEGMENTATION
By Industry Vertical

  • Pharmaceutical
    • Manufacturing
    • Marine
    • Mining
    • Food Processing
    • Oil and Gas
    • Others

By Applicable System Type

  • Cable Glands
    • Junction Boxes & Enclosures
    • Lifting & Material Handling System
    • Lighting System
    • Automation System
    • Surveillance and Monitoring System
    • Signaling Devices
    • Others

By Equipment Type:

  • Explosion proof
    • Explosion Prevention
    • Explosion Segregation

By Geography

  • North America
    • Europe
    • Asia-Pacific
    • Rest of World

KEY MARKET PLAYERS

  • Adalet
    • Intertek Group Plc
    • Extronics Ltd
    • Bartec Group
    • R. Stahl AG
    • Pepperl+FuchsGmbh
    • Siemens AG
    • Rockwell Automation, Inc.
    • Cooper Industries (Eaton)
    • ABB Group
    • BCom Solutions, Inc.
    • Honeywell International Inc.

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