DUBLIN--(BUSINESS WIRE )--Research and Markets (http://www.researchandmarkets.com/research/48cdk8/global_explosion) has announced the addition of the "Global Explosion Proof Equipment Market (2013-2020) - By Protection Types and by Applications" report to their offering.

The global explosion proof equipment market is expected to grow from $2.85bn in 2013 to around $3.57bn by 2018. Out of the various product segments, lighting systems, surveillance and monitoring systems are expected to drive the market with the highest growth rates of around 8.5% and 13.4% globally. In comparison to these segments the overall explosion proof equipment market is only expected to grow at around 4.6%.

Although the major applicable market for Explosion Proof/Protected Electrical Equipment i.e. Mining & Oil & Gas industry have become matured, this equipment has found a new customer base across residential and government facilities, entertainment areas and home appliances.

With new oil reserves found in Brazil, Italy and Greenland, the market for explosion proof/protected electrical equipment will surge due to the environmental sensitivity in these areas.

With the boom in LED market, manufacturers are steering towards interfacing explosion proof technology in LED lighting systems.

The ever expanding market for explosion proof electrical equipment has made the competition fierce. It can be understood with recent acquisitions and collaborations: Eaton Corp. acquires Cooper Crouse-Hinds while Marechal Electric Group joined hands with TECHNOR ITALSMEA S.p.A. to expand its operation in Oil & Gas industry with turnover of around $135 million.

Lighting and signaling systems are the most prominent factor contributing to the growth of explosion protected/proof electrical equipment. With new regulations stirring up for safety standards, explosion proof equipment market in electrical domain will surge in the future.

For more information visit http://www.researchandmarkets.com/research/48cdk8/global_explosion

Research and Markets Laura Wood, Senior Manager. press@researchandmarkets.com U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Sector: Manufacturing and Industry

Research and Markets Laura Wood, Senior Manager. press@researchandmarkets.com U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Sector: Manufacturing and Industry