North America Explosion-Proof Equipment Market Forecast to 2031 - Regional Analysis - by Systems, Protection Method, and Industry

Description

List of Tables

The North America explosion proof equipment market was valued at US$ 3,046.17 million in 2023 and is expected to reach US$ 4,893.73 million by 2031; it is estimated to register a CAGR of 6.1% from 2023 to 2031.

Growth in Oil & Gas Industry Fuels North America Explosion Proof Equipment Market

Explosion-proof equipment plays a crucial role in the oil & gas industry. In this industry, flammable liquids, gases, vapors, or combustible dust exist in sufficient quantities; hence, the safety of workers is the top priority. Generally, refineries, oil plants, and offshore facilities are constantly exposed to flammable substances. Manufacturers produce and rigorously test explosion-proof assets to combat the high possibility of ignition. For instance, in November 2023, Mitsubishi Heavy Industries, Ltd. (MHI) carried out autonomous inspections at a refinery using the "ASCENT," a second-generation "EX ROVR" plant inspection robot with explosion-proof features currently under joint development with ENEOS Corporation.

The use of explosion-proof equipment in oil and gas refineries has aided in reinforcing safety measures for unpredictable work environments. Dangerous compounds in oil and gas facilities indicate several safety challenges for the workers. For instance, hydrocarbon processing, including ethane, fossil fuels, methane, and propane, is a critical process that needs to be carried out under stable atmospheres. Additionally, the increasing number of upcoming oil and gas plants in various countries is fueling the requirement for explosion-proof equipment. For instance, in May 2024, Canada's oil and natural gas production hit record-high levels, and the country is amplifying its status as a global oil and natural gas superpower. This expansion of oil production and crude transportation capacities comes simultaneously while Canada is trying to ramp up its natural gas sector. The first phase of the LNG Canada liquified natural gas export facility, the largest private investment in Canadian history, is now reaching completion in Kitimat, British Columbia. The project is expected to fully start in 2025.

Several companies are engaged in increasing oil production. For instance, the International Monetary Fund expects OPEC and its partners to gradually increase oil production from July 2024. Therefore, with the growth of the oil & gas industry, the demand for explosion-proof equipment is also rising to ensure the safety of all operators and workers working in oil and gas plants.

North America Explosion Proof Equipment Market Overview

The North America explosion-proof equipment market consists of several countries, including the US, Canada, and Mexico. In North America, countries such as the US and Canada are known for adopting advanced technologies, high standards of living, and developed infrastructure. High disposable incomes and technological advancements have been propelling the growth of the explosion-proof equipment market as every type of industry, either SMEs or large enterprises, is focusing on deploying explosion-proof equipment in their factories. North America is expected to dominate the explosion-proof equipment market as it has the highest number of manufacturers and oil & gas fields. For instance, according to the National Association of Manufacturers, manufacturers in the US accounted for 10.70% of the total output in the country, employing 8.41% of the workforce. Total output from manufacturing was US$ 2.5 trillion in 2021.

Canada's total refining capacity is approximately 2 million bpd. New clean fuel regulations established by the Canadian federal government require an increasing number of refiners to reach net-zero emissions by 2050. Due to this, various companies in the region are announcing investments in oil and gas plant facilities. For instance, in January 2023, Imperial Oil announced that it was investing US$ 527 million to build the largest renewable diesel facility in Canada. Initial production has already begun at Imperial's Strathcona refinery near Edmonton, Alberta. When the module is commissioned in 2025, it will be able to produce 20,000 bpd from a feedstock of locally sourced canola and soy, as well as blue hydrogen. Tidewater Renewables invested US$ 315 million to build Canada's first stand-alone renewable diesel refinery. The plant, located in Prince George, British Columbia, entered production in mid-2023. With the growth of manufacturing and oil & gas industries in the region, the need to employ a larger number of workers and operators and maintain their safety in the factories is also increasing. Furthermore, in North America, the water and wastewater industry is growing as the governments in the countries are investing in this industry. For instance, in September 2023, the governments of Canada and British Columbia, alongside the municipalities of Burns Lake, Fraser Lake, and the District of Mackenzie, are investing over US$ 10 million into three transformative water and wastewater projects. These initiatives are poised to bring cleaner and more dependable municipal services to the region, marking a crucial step in infrastructure enhancement. Hence, there is an increased demand for explosion-proof equipment in the above industries, which is driving the explosion-proof equipment market is growth in North America.

North America Explosion Proof Equipment Market Revenue and Forecast to 2031 (US$ Million)

North America Explosion Proof Equipment Market Segmentation

The North America explosion proof equipment market is categorized into systems, protection method, industry, and country.

Based on systems , the North America explosion proof equipment market is segmented into junction boxes and enclosures, lighting system, monitoring system, signaling devices, automation system, cable glands, HVAC systems, and others . The cable glands segment held the largest market share in 2023. The monitoring system segment is further sub segmented into cameras, data loggers, sensors, and others.

In terms of protection method , the North America explosion proof equipment market is segmented into explosion prevention, explosion containment, and explosion segregation. The explosion prevention segment held the largest market share in 2023.

By industry, the North America explosion proof equipment market is segmented into oil and gas, manufacturing, mining, chemical and petrochemical, energy and power, pharmaceutical, water and wastewater management, and others. The oil and gas segment held the largest market share in 2023.

By country, the North America explosion proof equipment market is segmented into the US, Canada, and Mexico. The US dominated the North America explosion proof equipment market share in 2023.

ABB Ltd; Cortem S.p.A.; Emerson Electric Co; Pepperl+Fuchs SE; Honeywell International Inc; Xylem Inc.; OMEGA Engineering, Inc.; Spectec Thunderbird International Corp; Motion Sensors, Inc.; BARTEC Top Holding GmbH; Rockwell Automation Inc; Siemens AG; Schneider Electric SE; Detector Electronics, LLC.; and Larson Electronics LLC are some of the leading companies operating in the North America explosion proof equipment market.

Product Code: TIPRE00028745

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Explosion-Proof Equipment Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in Value Chain:

5. North America Explosion-Proof Equipment Market - Key Market Dynamics

5.1 North America Explosion-Proof Equipment Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Growth of Oil & Gas Industry:
- 5.2.2 Increase in Use of Explosion-Proof LED Lights
- 5.2.3 Rise in Industrial Safety Measures
5.3 Market Restraints
- 5.3.1 Complexities Involved in Installation and Maintenance of Explosion-Proof Equipment
5.4 Market Opportunities
- 5.4.1 Growth of Construction Sector
- 5.4.2 Rise in Product Launches and Strategic Initiatives
5.5 Future Trends
- 5.5.1 Stringent Safety Regulations
- 5.5.2 Integration of IoT
5.6 Impact of Drivers and Restraints:

6. Explosion-Proof Equipment Market -North America Market Analysis

6.1 North America Explosion-Proof Equipment Market Revenue (US$ Million), 2021-2031
6.2 North America Explosion-Proof Equipment Market Forecast Analysis

7. North America Explosion-Proof Equipment Market Analysis - by Systems

7.1 Junction Boxes and Enclosures
- 7.1.1 Overview
- 7.1.2 Junction Boxes and Enclosures: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Lighting System
- 7.2.1 Overview
- 7.2.2 Lighting System: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Monitoring System
- 7.3.1 Overview
- 7.3.2 Monitoring System: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
  - 7.3.2.1 Camera
    - 7.3.2.1.1 Overview
    - 7.3.2.1.2 Camera: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
  - 7.3.2.2 Data Loggers
    - 7.3.2.2.1 Overview
    - 7.3.2.2.2 Data Loggers: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
  - 7.3.2.3 Sensors
    - 7.3.2.3.1 Overview
    - 7.3.2.3.2 Sensors: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
  - 7.3.2.4 Others
    - 7.3.2.4.1 Overview
    - 7.3.2.4.2 Others: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Signaling Devices
- 7.4.1 Overview
- 7.4.2 Signaling Devices: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Automation System
- 7.5.1 Overview
- 7.5.2 Automation System: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.6 Cable Glands
- 7.6.1 Overview
- 7.6.2 Cable Glands: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.7 HVAC systems
- 7.7.1 Overview
- 7.7.2 HVAC systems: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
7.8 Others
- 7.8.1 Overview
- 7.8.2 Others: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)

8. North America Explosion-Proof Equipment Market Analysis - by Protection Method

8.1 Explosion Prevention
- 8.1.1 Overview
- 8.1.2 Explosion Prevention: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Explosion Containment
- 8.2.1 Overview
- 8.2.2 Explosion Containment: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Explosion Segregation
- 8.3.1 Overview
- 8.3.2 Explosion Segregation: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)

9. North America Explosion-Proof Equipment Market Analysis - by Industry

9.1 Oil and Gas
- 9.1.1 Overview
- 9.1.2 Oil and Gas: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Manufacturing
- 9.2.1 Overview
- 9.2.2 Manufacturing: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Mining
- 9.3.1 Overview
- 9.3.2 Mining: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Chemical and Petrochemical
- 9.4.1 Overview
- 9.4.2 Chemical and Petrochemical: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Energy and Power
- 9.5.1 Overview
- 9.5.2 Energy and Power: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Pharmaceutical
- 9.6.1 Overview
- 9.6.2 Pharmaceutical: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.7 Water and Wastewater Management
- 9.7.1 Overview
- 9.7.2 Water and Wastewater Management: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
9.8 Others
- 9.8.1 Overview
- 9.8.2 Others: North America Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)

10. North America Explosion-Proof Equipment Market -Country Analysis

10.1 North America
- 10.1.1 North America Explosion-Proof Equipment Market Overview
- 10.1.2 North America: Explosion-Proof Equipment Market - Revenue and Forecast Analysis - by Country
  - 10.1.2.1 North America: Explosion-Proof Equipment Market - Revenue and Forecast Analysis - by Country
  - 10.1.2.2 United States: Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.2.1 United States: Explosion-Proof Equipment Market Breakdown, by Systems
    - 10.1.2.2.2 United States: Explosion-Proof Equipment Market Breakdown, by Monitoring System
    - 10.1.2.2.3 United States: Explosion-Proof Equipment Market Breakdown, by Protection Method
    - 10.1.2.2.4 United States: Explosion-Proof Equipment Market Breakdown, by Industry
  - 10.1.2.3 Canada: Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.3.1 Canada: Explosion-Proof Equipment Market Breakdown, by Systems
    - 10.1.2.3.2 Canada: Explosion-Proof Equipment Market Breakdown, by Monitoring System
    - 10.1.2.3.3 Canada: Explosion-Proof Equipment Market Breakdown, by Protection Method
    - 10.1.2.3.4 Canada: Explosion-Proof Equipment Market Breakdown, by Industry
  - 10.1.2.4 Mexico: Explosion-Proof Equipment Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.2.4.1 Mexico: Explosion-Proof Equipment Market Breakdown, by Systems
    - 10.1.2.4.2 Mexico: Explosion-Proof Equipment Market Breakdown, by Monitoring System
    - 10.1.2.4.3 Mexico: Explosion-Proof Equipment Market Breakdown, by Protection Method
    - 10.1.2.4.4 Mexico: Explosion-Proof Equipment Market Breakdown, by Industry

11. Competitive Landscape

11.1 Heat Map Analysis By Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative

13. Company Profiles

13.1 ABB Ltd
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Cortem S.p.A.
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Emerson Electric Co
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Pepperl+Fuchs SE
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Honeywell International Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Xylem Inc.
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 OMEGA Engineering, Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Spectec Thunderbird International Corp
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Motion Sensors, Inc.
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 BARTEC Top Holding GmbH
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
13.11 Rockwell Automation Inc
- 13.11.1 Key Facts
- 13.11.2 Business Description
- 13.11.3 Products and Services
- 13.11.4 Financial Overview
- 13.11.5 SWOT Analysis
- 13.11.6 Key Developments
13.12 Siemens AG
- 13.12.1 Key Facts
- 13.12.2 Business Description
- 13.12.3 Products and Services
- 13.12.4 Financial Overview
- 13.12.5 SWOT Analysis
- 13.12.6 Key Developments
13.13 Schneider Electric SE
- 13.13.1 Key Facts
- 13.13.2 Business Description
- 13.13.3 Products and Services
- 13.13.4 Financial Overview
- 13.13.5 SWOT Analysis
- 13.13.6 Key Developments
13.14 Detector Electronics, LLC.
- 13.14.1 Key Facts
- 13.14.2 Business Description
- 13.14.3 Products and Services
- 13.14.4 Financial Overview
- 13.14.5 SWOT Analysis
- 13.14.6 Key Developments
13.15 Larson Electronics LLC
- 13.15.1 Key Facts
- 13.15.2 Business Description
- 13.15.3 Products and Services
- 13.15.4 Financial Overview
- 13.15.5 SWOT Analysis
- 13.15.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Word Index