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2020-09-01
710
Global
In industries such as petrochemical and mining electrical and other equipment are required to operate in hazardous conditions that can be conducive to explosions or can trigger fire. Most of the fireproofing and explosion proof equipment are intend to protect the application or equipment from external fires. Increased demand for explosion proof equipment in oil and gas industries and manufacturing sector has significantly augmented the growth of explosion proof equipment market growth on the back of rising concern for the operations and workers safety. Moreover, stringent regulation for the safety of workforce in hazardous environments and the mandates for using explosion and fire proof equipment is also subsequently driving the growth of explosion proof equipment market growth.
By Product Type
By Hazardous Area Zones
By End Users
By Geography
Based on product type, the enclosures segment accounted for the major shares of the electrical explosion proof equipment market in 2016 owing to factors such as the growing need for the electrical explosion proof equipment with enclosures in industries such as power & utility, automotive and petrochemical industry will contribute significantly to the growth of this industry segment in the coming years.
On the other hand, Asia pacific region, which occupied about 25% of the market share owing to rapid industrialization and urbanization, Asia Pacific is expected to be the fastest growing region. China and India provides the immense potential for the market growth owing to aggressive persuasion for power generation and to setup industrial facilities in their countries. ]
Geographically, North America region accounted for the largest market share of 35% revenue in global explosion proof equipment market.
The report analyzes and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Explosion Proof Equipment Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
Our global explosion proof equipment market report comprises of the following companies as the key players in the global explosion proof equipment market:
According to the report, major driver in global explosion proof equipment market is growing awareness for the workers safety and accidents at the hazardous working environments. For instance, in U.S and Europe there are stringent regulations and laws for the occupational health and safety, implemented by the organizational safety and health administration (OSHA), which mandates the installation of fire and explosion proof equipment and use of protective equipment for the workers, working nearby arc and flames.
According to our global explosion proof equipment market study on the basis of extensive primary and secondary research, one major trend in the market is the emergence of IoT (Internet of Things) and technological advancements to enhance the safety and to improve cost effectiveness and ease of installation. This is also a business opportunity for IoT device and explosion proof equipment manufacturers to create ‘EX’ rated sensors as installation of any electrical or electronic device in a potentially explosive environment required to be rated as ‘EX’ , also known as ‘intrinsically safe’.
Global Explosion Proof Equipment Market Outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global explosion proof equipment market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global explosion proof equipment market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
The report covers the present ground scenario and the future growth prospects of the explosion proof equipment market for 2017-2025 along with the total revenue of explosion proof equipment industry in every region. We calculated the market size and revenue share on the basis of revenue generated per segment, regional and country level. The revenue forecast is given on the basis of number of explosion proof equipment manufacturers and current growth rate of the market.
Further, the report states that one challenge in global explosion proof equipment market is high cost of explosion proof equipments as compared with conventional explosion and fire proof equipment. Moreover, high maintenance cost is also major challenge for the market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key Questions Answered in this Global Explosion Proof Equipment Market Report
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