iCrowdNewswire Jan 19, 2021 4:12 AM ET
Market Size – USD 7.20 billion in 2019, Market Growth – CAGR of 5.5%, Market Trends – The rise in the need to improve industrial areas’ safety.
The Explosion Proof Equipment market is forecasted to grow substantially throughout the forecast period due to the growing government policies in labor protection. The rising willingness to improve protection in industrialized areas is expected to further augment the market growth. Besides, The increasing concern for preventing explosions among several industries is also expected to boost the market growth.
Key Highlights From The Report
In October 2020, Rockwell Automation Inc. has announced the acquisition of Oylo, a privately held supplier of industrial cybersecurity systems. In this rapidly developing market, the acquisition of Oylo further increases Rockwell’s global distribution platform and extends the range of cybersecurity services applicable to the industrial market.
Throughout the forecast timeframe, the prevention segment is anticipated to hold the largest market with a CAGR of 5.8%. It is the only appropriate protection method for Zone 0, and it functions in the context of Zone 1 or 2.
For the forecast timeframe, the gas explosion protection expected to be the largest market in the Explosion Proof Equipment Market as dangerous areas such as Zone 0, Zone 1, and Zone 2 can be protected by this.
Over the forecast period, the Zone 0 segment is expected to capture the largest market. An explosive atmosphere consisting of a mixture of air and flammable substances, in the form of gas, vapor, or mist, is continuously or regularly present in this zone for a prolonged period.
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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Key participants include Honeywell International Inc., Rockwell Automation, Inc., ABB Ltd., Eaton Corporation Plc, Siemens AG, R Stahl AG, Hatch Transformers Inc, Pentair plc, Bartec GmbH, and Cortem S.p.A. among others.
Method Outlook (Revenue, USD Billion; 2017-2027)
Protection Type Outlook (Revenue, USD Billion; 2017-2027)
Gas Explosion Protection
Dust Explosion Protection
Zone Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Junction Boxes & Enclosures
Material Handling Systems
Switches & Sockets
Panel Boards & Motor Starters
Surveillance & Monitoring Systems
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Pharmaceuticals & Chemicals
Energy & Power
Oil & Gas
Helping you establish a strong foothold in the industry
The Explosion Proof Equipment report highlights set of information related to pricing and the category of customers who are more than willing to pay for certain products and services. The information on opportunities as well as product features, determine which offerings or benefits command sale and identify the communications channels used by the market leaders to create premium positioning strategies as well as attract broadest share.
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The research provides answers to the following key questions:
What is the estimated size of the Explosion Proof Equipment market for the forecast period, 2020 – 2027? What will be the growth rate of the industry during the estimated period?
What are the prominent driving forces likely to impact the progress of the industry across different regions?
Who are the major market players occupying a strong foothold in the Explosion Proof Equipment market? What are the winning strategies adopted by them to stay ahead in the competition?
What are the potential opportunities for the Explosion Proof Equipment market for the forecast period, 2020 – 2027?
What are the key trends expected to shape the development of the industry over the coming years?
What are the key restraints and challenges likely to hinder the growth of the Explosion Proof Equipment market worldwide?
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