A new market study is released on Explosion-Proof Equipment Market 2021 with data Tables for historical and forecast years represented with Chats & Graphs with easy to understand detailed analysis. The report also sheds light on present scenario and upcoming trends and developments that are contributing in the growth of the market. In addition, key market boomers and opportunities driving the market growth are provided that estimates for Global Explosion-Proof Equipment Market till 2027. The authors of the Explosion-Proof Equipment Market report have piled up a detailed study on crucial market dynamics, including growth drivers, restraints, and opportunities.
Explosion-Proof Equipment Market report carries out research and analysis of the market for a particular product/service which includes the investigation into customer inclinations. It performs the study of various customer capabilities such as investment attributes and buying potential. This market report involves feedback from the target audience to understand their characteristics, expectations, and requirements. The report provides new and exciting strategies for upcoming products by determining the category and features of products that the target audiences will readily accept. The global Explosion-Proof Equipment market research report collects data about the target market such as pricing trends, customer requirements, competitor analysis, and other such details.
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Explosion-proof equipment market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.7% in the forecast period of 2020 to 2027 and expected to reach USD 11,589.33 million by 2027. Some of the factors which are driving the market are growing increasing safety concerns, stringent governmental rules, regulations and standards to operate in hazardous areas.
The explosion-proof equipment requires high capital requirement for installation, maintenance, testing, licensing and other technical labor costs which acts as major restraint factors for the global explosion-proof equipment market.
An explosion is a sudden reaction involving a rapid physical or chemical oxidation reaction, increase in temperature or pressure due to flammable gases, vapors or dusts with the oxygen contained in the air. Explosion-proof equipment are those equipment containing any explosion which originates within the housing due to various hazardous materials and prevent sparks from igniting vapors, gases, dust, fibers or other hazardous materials in the air and environment surrounding it. When dealing with ex-proof equipment, there are two directives namely ATEX and the IECEX which provides standardization to operate under hazardous environments.
There are different explosion-proof equipment for different zones and different hazardous locations. These zones are classified on the basis of intense hazardous materials present in the environment. There are three techniques involved in explosion-proof equipment which are explosion-proof, explosion segregation (isolation) and explosion prevention.
This explosion-proof equipment market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Explosion-Proof Equipment Market Scope and Segmentation:
Explosion-proof equipment market is segmented on the basis of protection type, offering, class, division, temperature classes, zone, connectivity, location and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of protection type, the explosion-proof equipment market is segmented into explosion proof, explosion segregation (isolation) and explosion prevention. In 2020, explosion prevention segment held the largest share in the protection type segment. This is mainly due to vast adoption of intrinsic safe devices which never allow ignition to happen at first place. Moreover, explosion prevention protection is considered as an ideal approach for hazardous locations as it prevents an explosion taking place.
- On the basis of offering, the explosion-proof equipment market is segmented into systems and services. In 2020, systems segment has been accounted for larger market size in the global explosion-proof equipment market. This is mainly attributed to surging installation of explosion-proof systems such as enclosures, cable glands, surveillance and monitoring devices and others which prevent an internal spark from blast.
- On the basis of class, the explosion-proof equipment market is segmented into class I, class II and class III. In 2020, class I segment held the largest share and is also expected to witness the fastest growth in coming years. This is mainly due to higher chances of occurrence of any hazard as flammable vapors and gases are present in the class I locations. As a result, there is increased requirement for explosion-proof equipment, thereby supporting towards the market growth.
- On the basis of division, the explosion-proof equipment market is segmented into division 1 and division 2. In 2020, division 1 segment has been accounted for larger market size which is mainly attributed to increased probability of explosive gas atmosphere in normal operation conditions, mainly in industries such as oil and gas, chemicals and petrochemicals, refining, and others. Additionally, this category also includes hazards which have happened due to frequent equipment failure or maintenance or repair work in factories.
- On the basis of temperature classes, the explosion-proof equipment market is segmented into T1 (> 450 °C), T2 (> 300 °C to < 450 °C), T3 (> 200 °C to < 300 °C), T4 (> 135 °C to < 200 °C), T5 (> 100 °C to < 135 °C) and T6 (> 85 °C to < 100 °C). In 2020, T3 (> 200 °C to < 300 °C) segment held the largest share in the global explosion-proof equipment market due to maximum share of oil and gas and energy applications which are suitable for T3 rating meaning that all the equipment must range in a surface temperature of 200°C to 300°C.
- On the basis of zone, the explosion-proof equipment market is segmented into zone 0, zone 1, zone 2, zone 20, zone 21 and zone 22. In 2020, zone 0 segment has been accounted for maximum share in the market owing to increased level of risk at the location due to the presence of ignitable concentrations of flammable gases, vapors or liquids which are present continuously or for longer period of time under normal operating conditions.
- On the basis of connectivity, the explosion-proof equipment market is segmented into wired and wireless. In 2020, wired segment held larger share in the market mainly due to factors such as reduced number of attacks pertaining to network traffic interruptions, improved consistency and reliability and it also carry high data over longer distances.
- On the basis of location, the explosion-proof equipment market is segmented into indoor and outdoor. In 2020, indoor segment held larger share in the market and is also expected to register high growth due to maximum chances of occurring hazards in indoor industrial plants of oil and gas, mining, chemical, energy and power and other industries.
- On the basis of end user, the explosion-proof equipment market is segmented into mining, energy and power, oil and gas, chemical and petrochemical, pharmaceutical, food processing, manufacturing, refining, marine, military and defense, construction, waste management, aerospace and others. In 2020, oil and gas segment held the largest share in the market which is mainly attributed to stronger prevalence of vapors, high exposure to hazardous chemicals and gases and risky operations such as oil and gas extraction, drilling fluids and others. As a result, it is important to follow all the safety standards and prevent workforce from any kind of industrial incident. Hence, the implementation of explosion-proof equipment is more in the oil and gas industry.
Explosion-Proof Equipment Market Country Level Analysis
- North America (United States, Canada & Mexico)
- Asia-Pacific (Japan, China, India, Southeast Asian Countries & Australia etc.)
- Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands & Belgium etc.)
- Central & South America (Brazil, Argentina, LATAM etc.)
- Middle East & Africa (United Arab Emirates, Qatar, Saudi Arabia, Israel & South Africa etc.)
New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request TOC at @ https://www.databridgemarketresearch.com/toc/?dbmr=global-explosion-proof-equipment-market&Somesh
Leading Key Players Operating in the Explosion-Proof Equipment Market Includes:
The major players covered in the report are Intertek Group plc, R. STAHL AG, Pepperl+Fuchs SE, ALLOY INDUSTRY CO., LTD., G.M. International srl, Eaton, Extronics, Adalet, BARTEC, Honeywell International Inc, ABB, Siemens, Rockwell Automation, Inc, Johnson Controls., MIRETTI, MarechalElectric, CorDEX Instruments., UMEB ELEKTROMOTOREN, Bosch Rexroth AG, WEG, and ZhongTong among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of explosion-proof equipment market.
- In May 2020, Eaton launched New Recessed HRL LED explosion-proof lighting which is suitable for extreme temperature environment and hazardous explosion-proof areas. This product has excellent performance and 50% cost saving and energy consumption capabilities than the traditional and ensure the safety of working conditions. Through this, the company will enhance their product portfolio in the market.
- In January 2020, ABB launched smart sensor for rotating to machines monitor powertrain equipment in hazardous areas. These smart sensors allows customers to see problems earlier and offer more monitoring capabilities, communication range and exceptional battery life certified with ATEX, IECEx and NEC. This has helped the company to enhance their product portfolio and customer base in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for explosion-proof equipment.
What Are The Key Findings of the Report?
- Historical and current year revenue of related Explosion-Proof Equipment Market players analyzed at regional level.
- One by one company profile of prominent stakeholders.
- Analysis of the Market size on the basis of product type and end use type.
- Porter’s five forces analysis highlights the potency of the buyers and the suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global Explosion-Proof Equipment Market industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- Questions answered in the Explosion-Proof Equipment Market research report:
- Who are the leading market players active in the market?
- What would be the detailed impact of COVID-19 on the market size?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the Explosion-Proof Equipment Market industry?
- What are the projections for the future that would help in taking further strategic steps?
Table of Content:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SIZING
PART 07: FIVE FORCES ANALYSIS
PART 08: MARKET SEGMENTATION BY PRODUCT
PART 09: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
PART 10: CUSTOMER LANDSCAPE
PART 11: MARKET SEGMENTATION BY END-USER
PART 12: REGIONAL LANDSCAPE
PART 13: DECISION FRAMEWORK
PART 14: DRIVERS AND CHALLENGES
PART 15: MARKET TRENDS
PART 16: COMPETITIVE LANDSCAPE
PART 17: COMPANY PROFILES
PART 18: APPENDIX
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