Explosion Proof Equipment Market- Forecast (2018-2023)Posted by Venkatesh on November 14th, 2018 In the report “Explosion Proof Equipment Market:By Protection Types (Explosion Prevention, Explosion Proof, Explosion Segregation); By Applications (Automation Systems, Lighting, Material Handling Systems, Surveillance Systems, Signaling Systems) - (2018 - 2023), published by IndustryARC, the market scenario is highly dependent on the technological developments, increasing application and growing investments. Explosion Containment/ Proof equipment led the market in 2015 contributing to nearly 52.9% of the overall market share. This segment is estimated to grow with CAGR of 5.4% throughout the forecast period. However, explosion prevention/ intrinsically safe equipment is estimated as the fastest growing product segment with a growth rate of 6.5% throughout the forecast period. America with a major share in the Explosion Proof Equipment Market Americas is the largest market for this industry, contributing to nearly 31% of the overall market share, followed by Europe and APAC, contributing to 27% and 24% respectively. The APAC region displays the highest growth rate for this market, growing with CAGR of 7.2% throughout the forecast period. Former safety regulations adopted by various industries, combined with growth in the automation sector, is the major driver for this market. Also, the discovery of new O&G reserves and mineral reserves in various regions such as in Brazil, Africa, and the Arctic region among others, is estimated to further drive this market. Selected Protection Analysis done in the full Report: Global explosion proof market has been modified based on protection type, flammable substance, hazardous area classification, by explosive characteristics and by temperature class in this report. Explosion Containment/ Explosion Proof contributed to almost 53% of the overall market share. This segment is estimated to grow with CAGR of 5.4% through the forecast period, to generate annual revenue of 5 million by 2023. Explosion Prevention/ Intrinsic safety segment displays the highest growth rate, growing with CAGR of 6.5% through the forecast period. Explosion Proof/ Containment equipment is the most preferred type among its counterparts, owing to its reliability. To access/purchase the full report browse the link below https://industryarc.com/Report/109/Explosion-Proof-Equipment-Systems-Market-Report.html Excerpts on Explosion Proof Equipment Market Growth Factors • The world is developing well upon coal to utilize its energy requirements properly. For instance, new sites are being explored and constructed. India ties hand with Australia and New Zealand for providing technical support in exploring new coal mining sites. Thus, advancement in technology is leading to constant growth in the power sector. Key players of the Explosion Proof Equipment Market Eaton Corp PLC, Emerson Electric Co., R.STAHL, ABB Ltd and Rockwell Automation are some of the market players, owning a maximum number of shares. The players vary on the basis of the type of products they offer, and the type of market they provide. Eaton leads the market with a 19% market share, followed by Emerson with a share of around 15%. R.STAHL has a market share of 14%, followed by ABB with 9%. The top five players in the market combined have a market share of around 64%, with the remaining companies contributing 36% currently. Explosion Proof Equipment Market report is segmented as below The Global Explosion Proof Equipment Market `study across various end-user industries is incorporated in the report: A. By Classification Types 1. Protection Principle B. Explosion Proof Equipment Market - By Applicable Systems 1. Cable Glands C. Explosion Proof Equipment Market - By End-User Industries 1. Aerospace & Aircraft D. Explosion Proof Equipment Market by Geography (covers 10+ countries) Companies Cited / Interviewed 1. EATON CORPORATION PLC What can you expect from the report? 1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume) Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services. Media Contact: About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare. Like it? Share it!More by this author |