Market Research Report
Global Explosion-proof Lighting Market by Type, Light Source, End-user Industry and Hazardous location, Regional Forecasts 2021-2027
|Global Explosion-proof Lighting Market by Type, Light Source, End-user Industry and Hazardous location, Regional Forecasts 2021-2027|
Published: May 7, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Explosion-proof Lighting Market is valued approximately at USD 301.7 million in 2020 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2021-2027. Explosion-proof lights are designed to separate sparks inside the device, preventing fires from spreading. During an explosion, this greatly reduces the risk of the explosive reaction spreading or sparking volatile substances in the environment. Although the products have a thick casing that covers the lamps, it should be noted that they are not airtight. Due to the design of the light, gas is forced to take a long, complicated route through different paths and channels in order to cool down to a safe temperature. Furthermore, increase in government regulations relate to safe lighting and rising investment by end use industries are driving the market growth in upcoming years. The oil and gas industry is the primary end-user of explosion-proof lighting, as any failure or damage to assets caused by an explosion will result in increased costs. The demand for new explosion-proof lighting in the oil and gas industry is expected to increase as a result of several ongoing oil and gas projects around the world, which will drive market growth during the forecast period. For instance, many companies around the world are focused on the exploration and production of oil and gas assets. Moscow, Russia's capital, is taking new measures to encourage the oil and gas industry's development, with the goal of doubling petrochemical output to around 20 million metric tons per year by 2030. Kuwait signed a USD 600 million offshore exploration contract with Halliburton (US) in July 2019, which might raise Kuwait's oil production capacity by 100,000 barrels per day. However, Lack of common open standards, may impede market growth over the forecast period of 2021-2027.
Geographically, Asia-Pacific is expected to account for a significant market share due to the high industrial and infrastructure growth in the region and growing demand for energy-efficient lighting technologies. Major investments have also been made in the oil and gas, chemical and pharmaceutical, mining, and marine and shipbuilding industries in the region. Although raw materials are easily accessible in Asian countries such as India and China, the number of industrial facilities in the APAC region is rapidly growing. Companies from all over the world are looking to invest and develop their industrial bases in the APAC region, as it is one of the world's fastest-growing innovation centres.
Major market player included in this report are:
Phoenix Products Company Inc.
Zhejiang Tormin Electrical Co. Ltd.
R. STAHL, Inc.
Petro Middle East
Brite Strike Technologies SA
Emerson Electric Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
High Bay & Low Bay
By Light Source:
By End use Industries
Oil & Gas
Chemical & Pharmaceutical
Food & Beverage
Energy & Power
By hazardous Location:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Explosion-proof Lighting Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
a. Market Snapshot
b. Market Snapshot
List of figures