Visions on the Explosion Proof Equipment Global Market to 2027 - at a CAGR of 5.5 % throughout the forecast period
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Market Size – USD 7.20 billion in 2019, Market Growth - CAGR of 5.5%, Market Trends – The rise in the need to improve industrial areas' safety.
VANCOUVER, BC, CANADA, May 4, 2022 /EINPresswire.com/ -- The global Explosion Proof Equipment Market is forecasted to be worth USD 10.77 Billion by 2027, according to a current analysis by Emergen Research. The Explosion Proof Equipment market is forecasted to grow substantially throughout the forecast period due to the growing government policies in labor protection. The rising willingness to improve protection in industrialized areas is expected to further augment the market growth. Besides, The increasing concern for preventing explosions among several industries is also expected to boost the market growth.
However, over the forecast timeline, the lack of standardization and increased cost of the security system poses as a market hindrance for explosion-proof equipment.
The Explosion Proof Equipment report also offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2017-2027. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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Major Players/Manufacturers profiled in the report are:
Honeywell International Inc., Rockwell Automation, Inc., ABB Ltd., Eaton Corporation Plc, Siemens AG, R Stahl AG, Hatch Transformers Inc, Pentair plc, Bartec GmbH, and Cortem S.p.A. among others.
Some Key Highlights from the Report
Throughout the forecast timeframe, the prevention segment is anticipated to hold the largest market with a CAGR of 5.8%. It is the only appropriate protection method for Zone 0, and it functions in the context of Zone 1 or 2.
For the forecast timeframe, the gas explosion protection expected to be the largest market in the Explosion Proof Equipment Market as dangerous areas such as Zone 0, Zone 1, and Zone 2 can be protected by this.
Over the forecast period, the Zone 0 segment is expected to capture the largest market. An explosive atmosphere consisting of a mixture of air and flammable substances, in the form of gas, vapor, or mist, is continuously or regularly present in this zone for a prolonged period.
In October 2020, Rockwell Automation Inc. has announced the acquisition of Oylo, a privately held supplier of industrial cybersecurity systems. In this rapidly developing market, the acquisition of Oylo further increases Rockwell’s global distribution platform and extends the range of cybersecurity services applicable to the industrial market.
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Emergen Research has segmented the global Explosion Proof Equipment Market on the basis of method, protection type, zone, application, end-use, and region:
Method Outlook (Revenue, USD Billion; 2017-2027)
Prevention
Containment
Segregation
Protection Type Outlook (Revenue, USD Billion; 2017-2027)
Gas Explosion Protection
Dust Explosion Protection
Zone Outlook (Revenue, USD Billion; 2017-2027)
Zone 0
Zone 1
Zone 2
Zone 12
Zone 20
Zone 21
Zone 22
Application Outlook (Revenue, USD Billion; 2017-2027)
Lifting Systems
Cable Glands
Lighting Systems
Junction Boxes & Enclosures
Material Handling Systems
Switches & Sockets
HVAC
Panel Boards & Motor Starters
Surveillance & Monitoring Systems
Signaling Systems
Switchgear
Others
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Mining
Pharmaceuticals & Chemicals
Energy & Power
Oil & Gas
Others
Regional Analysis of the Explosion Proof Equipment Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a complete understanding of the Explosion Proof Equipment market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.
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The report offers insightful information about the market dynamics of the Explosion Proof Equipment market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Explosion Proof Equipment market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Explosion Proof Equipment market.
Key Coverage of the Explosion Proof Equipment Market:
Insightful information regarding the global Explosion Proof Equipment market
Identification of growth in various segments and sub-segments of the Explosion Proof Equipment market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision-making process through the availability of the drivers and limitations
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