Explosion Proof Equipment Market By Hazardous Zone (Zone 0, Zone 20, Zone 1, Zone 21, Zone 2, Zone 22), By End-use Vertical (Pharmaceuticals, Oil & Gas, Industrial Manufacturing & Processing, Mining & Energy, Others), By Applicable System Type (Material Handling Systems, Surveillance Systems, Power Supply Systems, Motors, Automation Systems, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The global explosion-proof equipment market is expected to expand at a CAGR of 7.3% during the forecast period from 2018 to 2026. The anticipated growth in demand for explosion-proof systems can be largely credited to their widespread adoption among the oil and gas, energy and mining, and industrial manufacturing verticals. Fire outbreaks, explosions, and resulting casualties and property loss have convinced companies in the aforementioned verticals to install automated solutions for end-to-end explosion control and prevention.

In addition, safety regulations favoring occupational safety and advancements in technology leading to replacement demand bode well for market growth. However, their bulky size and weight, high upfront cost, and difficult installation compared to intrinsically safe systems are factors limiting their adoption worldwide.

Market Synopsis

Regulated Demand from the Oil and Gas Industry to Drive Growth Prospects

Industries such as oil and gas, industrial manufacturing and processing, and energy and mining are prone to explosions and fire outbreaks and hence represent major end-users of explosion-proof equipment. Demand for explosion-proof equipment was highest in the oil and gas sector out of all end-use segments.

Loss or damage to assets may lead to greater costs, and protecting personnel and other equipment has triggered the need for installing robust explosion-proof equipment across downstream, upstream, and midstream operational units in the oil and gas industry. With several upcoming oil and gas projects worldwide, demand for new explosion-proof system installations will remain steady in the oil and gas segment.

North America to Dominate; Asia Pacific to Register Strong Growth

In terms of market value contribution, North America led worldwide sales of explosion-proof equipment in 2017, closely followed by Europe. The value contribution from these two economies was around two-thirds of the global market in the same year. Increasing shale gas exploration, coupled with government mandates promoting workplace safety, is driving the installation of safety systems, including explosion-proof equipment, across industrial facilities. On the other hand, Asia Pacific is estimated to register stronger growth over the forecast period on the back of rapid growth in industrialization and regulated demand from the mining sector.

Key Players:

Some of the major manufacturers profiled in the research report include R. Stahl, Adalet, Bartec GmbH, G.M. International SRL, Rae Systems (Honeywell International Inc.), Marechal Electric Group, Pepperl+Fuchs, Alloy Industry Co. Ltd., Siemens AG, Intertek Group, Extronics Limited, and Cordex Instruments, among others.

Periods of History and Forecast

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2016 to 2026, considering 2017 as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the global market size for explosion-proof equipment in 2016 and 2017?
• What are the estimated forecast and market projections up to 2026?
• Which is the largest regional market for explosion-proof equipment?
• Which end-use vertical has the largest penetration of explosion-proof equipment?
• What are the major trends influencing the global explosion-proof equipment market?
• Which is the most attractive, promising, and less-explored end-use segment in the global explosion-proof equipment market?
• Who are the leading manufacturers of explosion-proof equipment worldwide?
• What are the key strategies adopted by the leading manufacturers in the global explosion-proof equipment market?

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