Market Research Report
Explosion Proof Equipment Market by Industry Vertical, Applicable System - Global Opportunity Analysis and Industry Forecast, 2014 - 2022
|Published by||Allied Market Research||Product code||676619|
|Published||Content info||165 Pages
Delivery time: 2-3 business days
|Explosion Proof Equipment Market by Industry Vertical, Applicable System - Global Opportunity Analysis and Industry Forecast, 2014 - 2022|
|Published: September 1, 2016||Content info: 165 Pages||
Explosion Proof Equipment Market by Industry Vertical (Pharmaceutical, Manufacturing, Marine, Mining, Food Processing, Oil and Gas), Applicable System (Cable Glands, Junction Boxes & Enclosures, Lifting & Material Handling System, Lighting System, Automation System, Surveillance and Monitoring System, Signaling Devices) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022.
Explosion protection equipment are used in different industry verticals to prevent ignition from several dangerous environments that can cause a sudden explosion. Explosion proof products are able to withstand an internal explosion. Equipment used in hazardous locations should be certified to an appropriate national standard and marked by an examining organization. ATEX is an authorized testing European organization which outlines procedures to evaluate a product design based on groups and categories. North America was the highest revenue generating region in 2014 and is likely to grow at a CAGR of 8.4% during the forecast period. However, Asia-Pacific is the fastest growing region owing to development in major nations, such as China, India and others. Therefore, this region is expected to grow at a CAGR of 10.5% by 2022.
Increased safety, rise in automation sector, growth in industrial sectors, and stringent government regulations are some of the factors that strengthen the market. However, lack of standardization restricts the market growth. Increased demand for integrated systems and investment in emerging markets would foster the growth of the global market.
Area classification defines the probability of an explosive substance being present at a specific location of an industry. The equipment is produced, designed, and installed as per the laws, regulations, and standards of the legislatures. The European Union formulates the manufacturing of equipment as per the Zone system. Zone 0, Zone 1, Zone 2, Zone 20, Zone 21, and Zone 22 classify the hazardous areas in which the presence of flammable substances is very high, high, and moderately high. While the National Electric Code (NEC) is the standard followed by North America, which includes class, division, and group system. The classes define occurrence of three categories of flammable substance, whereas divisions specify the likelihood of explosive materials in the hazardous environments. The classes and divisions are further divided into seven groups, which define classes by ranking the flammable and critical natures related to other substances.
Explosion proof equipment is segmented into industry vertical, applicable system, protection method, and geography. On the basis of applicable system, the market is divided into cable gland, junction boxes & enclosures, lighting system, lifting & material handling system, automation system, surveillance & monitoring system, signaling devices, and other segments. Based on protection methods, the market is categorized into explosion containment, explosion isolation, and explosion prevention. On the basis of industry vertical, the market is segmented into oil & gas, pharmaceutical, marine, mining, manufacturing, food processing, and other divisions. Across the globe, the market is segmented into the geographical regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
ABB Group, Rockwell Automation, Inc., R. Stahl AG, BARTEC Group, Adalet, Siemens AG, Intertek Group Plc, Extronics Ltd., Pepperl+Fuchs GmbH, and Cooper Industries (Eaton), are some of the key market players that operate in the world explosion proof equipment market.
By Industry Vertical
By Applicable System
By Protection Method