Explosion Proof Equipment Market – Overview, Industry Size and Share, Opportunities

Explosion proof equipment market report size is projected to reach to USD 9.9 billion by 2025, at a CAGR of 5.9% during the forecast period. Factors such as the increasing industrial safety measures and rising energy requirements are driving the explosion proof equipment industry.

The major players in the explosion proof equipment market are Siemens (Germany), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), and Eaton Corporation Plc (Ireland).

Honey well International is a multinational company, founded in 1906 and headquartered in New Jersey, US. The company offers a variety of commercial and consumer products and engineering services.

Founded in 1988 and headquartered in Zurich, Switzerland, ABB Ltd. is a multinational company founded after the merger of Allmanna Svenska Elektriska Aktiebola – ASEA (Sweden) and Brown, Boveri & Cie – BBC (Switzerland). ABB Ltd. is a global leader in power and automation technologies.

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The explosion proof equipment market for wireless connectivity services is projected to grow at a high growth rate during the forecast period. The growth of the segment can be attributed to its lower installation cost, requirement for cable-free operations, and reduction in space occupied and weight. Wireless devices can minimize the number of devices installed, such as cabling and other installation equipment leading to low installation expenditure and low labor costs.

The explosion proof equipment market for cable glands & accessories segment held the largest share of the market in 2019. Cable glands and accessories are increasingly used for mechanical retention, strain relief, and earth continuity.

The explosion proof equipment market in Rest of the World is expected to grow at the highest CAGR during the forecast period, due to the presence of the world’s largest oil & gas production, mining, and energy & power industries, which are highly prone to explosions in the region. The rising demand for protection in the oil & gas industry led the manufacturers to certify their products for use in explosive atmospheres.

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