DUBLIN--(BUSINESS WIRE )--The "Explosion Proof Equipment - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Explosion Proof Equipment market accounted for $7.09 billion in 2019 and is expected to reach $12.55 billion by 2027 growing at a CAGR of 7.4% during the forecast period.
While the factors like increased oil, investments in emerging markets, are some of the major factors driving the market growth. However, the lack of standardization is hampering market growth.
Explosion-proof equipment refers to commodities that limit any source of explosion within its housings. This equipment relies on different principles of protection, such as explosion avoidance, and explosion isolation. While explosion-proof equipment utilizes a strong, protective housing, to contain any explosion within itself, explosion segregation equipment isolates the source of an explosion inside a protective medium.
Based on the end user, the oil & gas segment is estimated to have a lucrative growth due to the extensive adoption of explosion-protected products in this sector as a preventive measure against explosive areas. The adoption of spark-resistant enclosures, thermocouples, and sensors in dangerous areas of oil & gas industry eliminate the release of potentially toxic and flammable substances.
5 Global Explosion Proof Equipment Market, By Group
5.3 Group D: Petrochemicals (Includes Methane)
5.5 Group B: Hydrogen and Manufactured Gases Containing Hydrogen
6 Global Explosion Proof Equipment Market, By Protection Principle
7 Global Explosion Proof Equipment Market, By Flammable Substance
7.2 Class I (Gas and Vapor)
7.4 Class III (Fibers and Flying's)
8 Global Explosion Proof Equipment Market, By Explosion Protection
9 Global Explosion Proof Equipment Market, By Zone
10 Global Explosion Proof Equipment Market, By Temperature Class
11 Global Explosion Proof Equipment Market, By Product
11.8 Visual & Audible Combination Units
12 Global Explosion Proof Equipment Market, By Connectivity Service
13 Global Explosion Proof Equipment Market, By Application
13.6 Panel Boards & Motor Starters
13.11 Heating, Ventilation, and Air Conditioning (HVAC)
14 Global Explosion Proof Equipment Market, By End User
15 Global Explosion Proof Equipment Market, By Geography
16.1 Agreements, Partnerships, Collaborations and Joint Ventures
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900