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Explosion Proof Equipment Market Drivers Increasing Usage of Explosion Proof LED Lights in Various Industry Verticals.

HYDERABAD, TELANGANA, INDIA, February 14, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Explosion Proof Equipment Market size is forecasted to reach US$10.1 billion by 2027, growing at a CAGR of 6.1% from 2022 to 2027. The growing adoption of integrated systems in manufacturing facilities and increasing safety concerns due to the rising incidence of various accidents in hazardous working environments are the major factors driving the Explosion Proof Equipment Industry forward. Technological advancements have brought new innovations such as explosion proof industrial control panels, strobe beacons, tone generators and cable glands to tackle explosive situations in hazardous environments. Process instruments that control variables such as conductivity, moisture, temperature and so on are also being explosion proofed, allowing a safer environment after any explosion or malfunction of process instruments. Additionally, the rising demand for the use of robots in hazardous area applications, as well as the use of cable glands in robots, is analyzed to positively influence the Explosion Proof Equipment Industry Outlook over the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/109/Explosion-Proof-Equipment-Systems-Market-Report.html

Key takeaways:

1. In the Explosion Proof Equipment market report, the lighting systems segment is analyzed to grow at a significant CAGR of 6.3% due to increased demand for safety in a hazardous environment and increasing LED-based explosion-proof light fixtures in industrial facilities.

2. The Oil and Gas industry had the highest share in the Explosion Proof Equipment Market, owing to factors such as the increasing number of accidents in the oil and gas industry and various applications of the equipment in the industry.

3. The North American region had the largest share in the global Explosion Proof Equipment Market size, owing to factors such as government regulations towards safety standards and increasing R&D investments by major manufacturers.

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Segmental Analysis:

1. Based on application, the lighting systems segment in the Explosion Proof Equipment Market report is analyzed to grow with the highest CAGR of 6.3% during the forecast period 2022-2027.

2. Based on the end-use industry, the Oil and Gas Industry had the highest share of around 21% in 2021. It is also analyzed to have the highest CAGR in the Explosion Proof Equipment Market during the forecast period 2022-2027.

3. According to the Pipeline and Hazardous Materials Safety Administration, over the last 30 years, the U.S. oil and gas industry has experienced over 9,000 significant pipeline-related incidents, resulting in over 2500 injuries, 548 fatalities and over $8.5 billion in financial damages, thus creating a demand for Explosion Proof Equipment.

4. North America dominated the global market for Explosion Proof Equipment with a market share of 38% in 2021. It is also analyzed to have significant growth over the forecasting period.

Competitive Landscape:

The top 5 players in the Explosion Proof Equipment industry are -

1. Siemens AG

2. ABB Ltd

3. Rockwell Automation Inc

4. Eaton Corporation plc

5. BARTEC Group

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Related Reports:

A. Explosion Proof Lighting Market
https://www.industryarc.com/Report/15610/explosion-proof-lighting-market.html

B. Explosion Proof Equipment in Automation & Control Systems Market
https://www.industryarc.com/Report/158/Explosion-Proof-Equipment-Automation-Control-Systems-Market.html

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