Explosion-proof equipment consists of an explosion inside it. Explosion-proof equipment is designed to prevent malfunction in electronic equipment and to ensure that the equipment is completely safe/explosion-proof. Explosion-proof or flame-proof equipment is properly sealed and rugged to ensure that it does not ignite a spark and create a hazardous atmosphere even after any fire sparks inside it as it is explosive in itself.
COVID-19 Impact & Market Status
The unfolding of the fatal virus COVID-19 in early 2020 caused a large-scale adverse impact on world economies posing a thousand challenges in markets, including the explosion-proof equipment market. The demand and supply sides of the market witnessed a huge disruption due to the low production of explosion-proof equipment. For instance, the construction industry and supply chain were unfavorably influenced due to the imposition of shutdown across cities, which led to the temporary close down of several activities and subsequently affected the manufacturing of explosion-proof equipment across the globe.
Mining Industry to Hold Significant Share
Among the distinctive industry verticals equipped with explosion-proof equipment, the mining industry segment is likely to experience an exponential market share in the industry as there is a high risk of occurrence of fire or blasts in the environment owing to the presence of flammable gases, flammable liquid–produced vapors, combustible vapors produced by liquid, combustible dust or ignitable fibers which fly as tiny particles in the air in sufficient quantities to generate explosive mixtures which might ignite a spark and lead to severe blows up together with of temperature and pressure.
The Zone 0 Segment is anticipated to develop at the highest CAGR
During the projection period, the Zone 0 category is anticipated to develop at the highest CAGR of 5.9%. In this zone, an explosive atmosphere made up of air and combustible materials in the form of gas, vapour, or mist is sustained continuously, for an extended period of time, or on a regular basis. The Zone 1 sector is anticipated to expand steadily during the course of the projection period. This area has an explosive atmosphere made up of a mixture of air and potentially dangerous gases, vapours, or mist that can arise during everyday activities.
The Europe had the greatest market share
In 2021, Europe had the greatest market share in the overall market for explosion-proof gear. Europe is anticipated to dominate the market throughout the projected period as a result of rising production prices and the purification of ferrous and nonferrous metals in this region. Furthermore, the Middle East is anticipated to increase due to the world's largest oil industry.
The global market for explosion-proof equipment size is anticipated to grow to USD 10.3 billion by 2029 from USD 7.4 billion in 2022, at a CAGR of 6% from 2022 to 2029.
The explosion-proof equipment industry for wireless connectivity services is expected to rise at a high growth rate during the review period. The growth of the wireless segment is driven by its lower installation cost, cable-free operations, and less space occupied and weight. Wireless devices are efficient in minimizing the number of devices installed like cabling and other installation equipment leading to low installation charges and low labor costs. Factors such as the ramping industrial safety measures and rising energy requirements are contributing to the prominence of explosion-proof equipment across the globe.
The spike in the demand for integrated systems, robust development in the automation and industrial sectors, and stringent regulations by the government for handling hazard-prone areas are certain to bolster the market growth over the projection period.
It is due to the hiking consumption of energy, fetching energy and fuel has become the need of the hour. This leads to strengthening the global market for explosion-proof equipment. The reason behind this is that explosion-proof equipment is used in every industry to prevent explosions during the generation of power from natural resources. As the world is relying more on coal to meet its huge requirements, new sites are being discovered for reserves of coal.
Explosion-proof devices help many markets with huge as well as machine-intensive markets in avoiding explosions while their operating activities. These industries include aerospace, defense, and manufacturing. Therefore, the cost of these safety devices required in these industries is getting higher.
The explosion-proof motors with Low-voltage are used ubiquitously in the market with several small and large manufacturers who offer off-the-shelf single-phase and three-phase explosion-proof AC and DC motors. These Motors have Low-voltage of power and are generally used in compressors pumps and blowers in the oil and gas industry. The prevalence of motors with low-voltage is likely to grow over time followed by its expanded use in both onshore (shale extraction) and offshore (FPSO and offshore production units) activities of the industries of oil and gas.
The major players in the explosion-proof equipment market are Siemens (Germany), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (the US), and Eaton Corporation Plc (Ireland).
Major developments in Global Explosion Proof Equipment Market: a Snapshot
- In January 2020, R. STAHL Ltd. expanded the range of its lighting by introducing modern explosion-protected systems of lighting with interfaces of DALI in them. Moreover, the new variants of EXLUX correspond to the DALI standard.
- July 2020- Intertek announced its entrance into exclusive services appointment and a cardinal partnership with Bangladesh Export Import Company Ltd (BEXIMCO). Intertek is a leading Explosion-Proof Equipment provider to various industries across the globe. BEXIMCO has been manufacturing and exporting massive amounts of PPE Kits to the USA.
Explosion Proof Equipment Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 10.3 billion|
|Growth Rate||CAGR of 6% during 2021-2028|
|Segment Covered||Product, Zone Classification, Connectivity Service, Industry, Regions|
|Regions Covered||North America, Europe, The Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||Siemens (Germany), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (the US), and Eaton Corporation Plc & among others.|
Key Segments of the Global Explosion Proof Equipment Market
Product Overview, 2022-2029 (USD Billion)
- Cable Glands & Accessories
- Process Instruments
- Industrial Controls
- Strobe Beacons
- Lighting Products
- Bells & Horns
- Fire Alarms/Call Points
- Speakers & Tone Generators
- Visual & Audible Combination Units
Zone Classification Overview, 2022-2029 (USD Billion)
- Zone 0
- Zone 1
- Zone 2
- Zone 20
- Zone 21
- Zone 22
Connectivity Service Overview, 2022-2029 (USD Billion)
Industry Overview, 2022-2029 (USD Billion)
- Oil & Gas
- Chemicals & Pharmaceuticals
- Food & Beverages
- Energy & Power
Regional Overview, 2022-2029 (USD Billion)
- North America
- The US
- Rest of Europe
- The Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa