The global explosion proof equipment market is anticipated to grow at a CAGR of 7.26% during the forecast period to reach a total market size of US$10.173 billion by 2023, increasing from US$6.681 billion in 2017. Technological advancements in the industry have led to the intensive use of heavy equipment to carry out the manufacturing processes, most of which involve the emission of inflammable gases and dust particles. This creates an environment prone to explosions and thus, increases the need for explosion proof equipment. Growing chemical industry is further fuelling the demand for explosion proof equipment in order to eliminate the underlying risks of explosions. Stringent governments’ regulations regarding workers’ safety in hazardous working areas will increase the demand for these equipment across various industry verticals, thereby propelling the growth of this market over the forecast period.
North America will witness a significant market growth over the projected period, owing to the discovery of new oil and shale gas reserves in the U.S and Canada. Asia Pacific region will witness the fastest growth rate due to increasing industrialization in this region.
The report provides a brief introduction to the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segments which have been covered as part of the report.
The next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges and opportunities which exist in the current market. This section of the report also provides global and regional regulations which are determining the market growth and industry value chain analysis of the global explosion proof equipment market. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
The major players discussed in this report include CorDEX Instruments, Adalet, Intertek Group plc, Pepperl+Fuchs GmbH, Extronics Ltd, Siemens AG, and Rockwell Automation, Inc. among others.
In the report, the global explosion proof equipment market has been segmented by hazardous zone, equipment, industry, and geography:
By Hazardous Zone
Distribution Boxes and Empty Enclosures
Oil and Gas
The United Kingdom
Middle East and Africa (MEA)
Asia Pacific (APAC)
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