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

September 2017

 Pages: 116

 ERC 8691

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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.

A sudden, abrupt and vigorous increase in the energy of a system, which could be either nuclear or mechanical, in an uncontrolled amount resulting in a sudden increase in temperature and evacuation of gases, is called as an explosion. There are various causes which could generate explosions, such as increased pressure, nuclear reactions, leakage of gases and dust. In order to avoid these explosions, numerous preventive measures are being taken into account during the designing phase of products used for electrical, mechanical, nuclear and chemical applications. These very devices/products are called 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.

Market Dynamics

As a result of extreme conditions in manufacturing and production firms generated by presence of chemicals, toxic paints, and other combustible dusts, extreme temperatures has led to an increased adoption of explosion proof equipment. These factors 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. Stringent safety regulations emphasized by various governments in hazardous areas is also a key factor which is driving the growth of global explosion proof equipment market. On the other hand, lack of standardization, floundering of mineral and mining industries globally are emerging out as the key restraint for the global explosion proof equipment market.

EXPLOSION EQUIPMENT MARKET DETERMINANTS-IMPACT ANALYSIS, 2016 Vs. 2024

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 bifurcated into pharmaceuticals, manufacturing, marine, food processing, oil & gas, mining and others. By equipment type, the market is categorized as 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+Fuchs Gmbh, Siemens AG, Rockwell Automation, Inc., Cooper Industries (Eaton), ABB Group, BCom Solutions, Inc. and Honeywell International Inc.

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

Explosion Proof Equipment Market Key Players

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

 

 

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    What Information does this report contain?

    What was the market size of the Explosion EquipmentMarket in 2016 and the expected market size by 2024, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period (2016 - 2024)?
    • Which are the leading companies in the Explosion Equipment Market Market and their competitive positioning on the basis of their market share, product portfolio, strategic attempts and business focus?

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