Explosion Proof Equipment Market Size Worth USD 10.77 Billion by 2027 | CAGR of 5.5%: Emergen Research

VANCOUVER, BC, Oct. 26, 2020 /PRNewswire/ -- The Global Explosion Proof Equipment Market is forecast to be worth USD 10.77 Billion by 2027, according to a current analysis by Emergen Research. The explosion proof equipment market is projected 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 market growth. Besides, the increasing concern for preventing explosions among several industries is also expected to boost the market growth.

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However, over the forecast timeline, the lack of standardization and increased cost of security systems poses as a market hindrance for explosion proof equipment.

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Key Highlights From The Report

    --  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.
    --  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, gas explosion protection is 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.
    --  The cable glands segment is speculated to grow significantly over the
        forecast period since cable glands perform significant functions in
        managing cables.
    --  Over the forecast period, the oil & gas industry is anticipated to hold
        the largest market, as the explosion proof equipment is widely used in
        Liquefied Natural Gas plants and oil refinery.
    --  Due to the rising number of production and processing of ferrous and
        nonferrous materials in this region, Europe is expected to dominate the
        market over the forecast period. Moreover, the rapid expansion of the
        pharmaceutical, oil & gas, and chemical industry is a major factor in
        Europe's market growth.
    --  Key participants include 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.

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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

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Regional Outlook (Revenue, USD Billion; 2017-2027)

    --  North America
        1. U.S.
        2. Canada
        3. Mexico
    --  Europe
        1. Germany
        2. U.K.
        3. France
        4. BENELUX
        5. Rest of Europe
    --  Asia Pacific
        1. China
        2. Japan
        3. South Korea
        4. India
        5. Rest of APAC
    --  Latin America
        1. Brazil
        2. Rest of LATAM
    --  Middle East & Africa
        1. Saudi Arabia
        2. UAE
        3. Rest of MEA

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