The explosion proof equipment market accounted to US$ 8.1 Bn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 – 2025, to account to US$ 14.33 Bn by 2025.
North America is expected to dominate the global market during the analysis period, with an average annual growth rate of 8%. Explosion protection equipment is used in a variety of industries to prevent ignition from hazardous substances that could lead to an explosion.
In general, explosion-proof products can withstand internal blowouts. They must be certified by appropriate national standards such as Atmosphères Explosives (ATEX), an accredited testing agency. The ATEX guidelines describe the process of evaluating product designs by group and category.
Growing demand for integrated systems, investment in emerging markets, the rise of the automation sector, growth in the industrial sector and stringent government regulations are expected to fuel market growth globally. However, the lack of standardization is expected to limit market growth.
A full report of Explosion Proof Equipment Market is available at: https://www.orionmarketreports.com/explosion-proof-equipment-market/42710/
Explosion Proof Equipment Market Segmentation
By applicable system explosion proof equipment is segmented into following segments such as
Switchgear
• surveillance & monitoring systems
• material handling systems
• lifting systems
• cable glands
• power generation
• distribution systems
• others.
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Key Questions Answered by Explosion Proof Equipment Market Report
• What was the Explosion Proof Equipment Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
• What will be the CAGR of Explosion Proof Equipment Market during the forecast period (2019-2025)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2019-2025)?
• Which manufacturer/vendor/players in the Explosion Proof Equipment Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
