Global Explosion Proof Equipment Market to Reach $8,217 Million, by 2022Marine Electric ContractorsUpdated on May 8, 2017 View more like this | Visit United States Minor Outlying Islands, UN | Contact Yesh Jadhav |
Explosion Proof Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to $8,217 million, registering a significant CAGR of 9.3% during the period 2016 - 2022.North America is expected to dominate the global market throughout the analysis period, registering a notable CAGR of 8.4%.
The market is driven by factors such as increased safety concerns, growth in industrial sector, rise in automation sector, and stringent government regulations. However, lack of standardization restricts the market growth.
The usage of spark-resistant devices, automated systems, monitoring and signaling devices among others prevents sparks in explosion-prone industries including oil & gas, manufacturing, and others. Therefore, some of the top-notch players, such as R. Stahl AG, BARTEC Group, and Extronics Ltd. among others have focused on manufacturing equipment using non-flammable materials for heavy industries to reduce sparks generated by friction.
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The explosion-prone industries based out in North America need to comply with the NEC standard, which defines the design and development of equipment on the basis of class, division, and group system. Similarly, ATEX or IEC standards are followed in Europe, which segregates an area on the basis of zone. These systems follow a similar modus operandi, and demarcate hazardous areas that are prone to explosive materials apart from assigning the category of equipment that need to be used in such locations. An ATEX-compatible HVAC system offered by Intertek ensures high safety of labor and automatic climate control system. The system is best suited for oil & gas refineries, petrochemical, and manufacturing plants, as it regulates the atmospheric pressure to prevent the entry of dust or gas.
Exposure to flammable gases, contact with harmful substances, and release of hydrocarbon are some of the factors that make oil & gas industry one of the most hazardous sectors. Therefore, the oil & gas sector generated the highest revenue share of 18% in 2015, owing to high adoption of ignition-resistant products and equipment, and is estimated to grow at a prominent CAGR of 10.3% during the forecast period.
Industrial automated products, such as media converters, managed & unmanaged Ethernet switches, industrial monitors, programmable automation controllers (PACs), and automation computers are designed and installed to prevent accidental explosion in harsh conditions. Therefore, automation systems contributed more than 17% share of total revenue in 2015, and is projected to grow at a significant CAGR of 10.8% during the forecast period.
After a massive success of other ignition-resistant products, Larson Electronics launched an explosion-proof analog camera in September 2016 for use in a vessel or tanker to monitor internal operations. The camera features an infrared LED range that assures nocturnal visibility and remote maneuverability from a control room, to save time and money apart from providing safety at workstations.
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Protection methods including explosion containment, explosion prevention, and explosion isolation are implemented to permit safe operations of electrical apparatuses in ignition-prone environment. Explosion prevention or intrinsic safety segment is the leading revenue contributor to the global market, and is anticipated to grow with the highest CAGR of 10.1% during the forecast period.
Based on geography, North America generated the maximum revenue in the global market, accounting for over 31% share in 2015, owing to high adoption and production of ignition-proof automated solutions. However, the adoption of explosion-resistant devices in the Middle East has witnessed significant growth over the years, owing to the abundance of oil refineries in the region. Moreover, the use of cost-effective equipment in LAMEA region would create lucrative opportunities for the market. The region is expected to witness a notable growth with a prominent CAGR of 10.4% during the forecast period.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
Sona Padmanabhan
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1–800–792–5285
UK: + 44–845–528–1300
The market is driven by factors such as increased safety concerns, growth in industrial sector, rise in automation sector, and stringent government regulations. However, lack of standardization restricts the market growth.
The usage of spark-resistant devices, automated systems, monitoring and signaling devices among others prevents sparks in explosion-prone industries including oil & gas, manufacturing, and others. Therefore, some of the top-notch players, such as R. Stahl AG, BARTEC Group, and Extronics Ltd. among others have focused on manufacturing equipment using non-flammable materials for heavy industries to reduce sparks generated by friction.
Request Free Sample Report@ https://www.alliedmarketresearch.com/request-free-sample/1728
The explosion-prone industries based out in North America need to comply with the NEC standard, which defines the design and development of equipment on the basis of class, division, and group system. Similarly, ATEX or IEC standards are followed in Europe, which segregates an area on the basis of zone. These systems follow a similar modus operandi, and demarcate hazardous areas that are prone to explosive materials apart from assigning the category of equipment that need to be used in such locations. An ATEX-compatible HVAC system offered by Intertek ensures high safety of labor and automatic climate control system. The system is best suited for oil & gas refineries, petrochemical, and manufacturing plants, as it regulates the atmospheric pressure to prevent the entry of dust or gas.
Exposure to flammable gases, contact with harmful substances, and release of hydrocarbon are some of the factors that make oil & gas industry one of the most hazardous sectors. Therefore, the oil & gas sector generated the highest revenue share of 18% in 2015, owing to high adoption of ignition-resistant products and equipment, and is estimated to grow at a prominent CAGR of 10.3% during the forecast period.
Industrial automated products, such as media converters, managed & unmanaged Ethernet switches, industrial monitors, programmable automation controllers (PACs), and automation computers are designed and installed to prevent accidental explosion in harsh conditions. Therefore, automation systems contributed more than 17% share of total revenue in 2015, and is projected to grow at a significant CAGR of 10.8% during the forecast period.
After a massive success of other ignition-resistant products, Larson Electronics launched an explosion-proof analog camera in September 2016 for use in a vessel or tanker to monitor internal operations. The camera features an infrared LED range that assures nocturnal visibility and remote maneuverability from a control room, to save time and money apart from providing safety at workstations.
Purchase Inquiry Request @ https://www.alliedmarketresearch.com/purchase-enquiry/1728
Protection methods including explosion containment, explosion prevention, and explosion isolation are implemented to permit safe operations of electrical apparatuses in ignition-prone environment. Explosion prevention or intrinsic safety segment is the leading revenue contributor to the global market, and is anticipated to grow with the highest CAGR of 10.1% during the forecast period.
Based on geography, North America generated the maximum revenue in the global market, accounting for over 31% share in 2015, owing to high adoption and production of ignition-proof automated solutions. However, the adoption of explosion-resistant devices in the Middle East has witnessed significant growth over the years, owing to the abundance of oil refineries in the region. Moreover, the use of cost-effective equipment in LAMEA region would create lucrative opportunities for the market. The region is expected to witness a notable growth with a prominent CAGR of 10.4% during the forecast period.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
Sona Padmanabhan
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1–800–792–5285
UK: + 44–845–528–1300
