Explosion Proof Equipment Market Worth $1.1 Billion By 2020


Posted June 19, 2015 by IARCAutomation

Explosion is defined as an abrupt increase in the energy (chemical, mechanical or nuclear) or volume in an uncontrolled manner accompanied by rise in temperature and release of gases.

 
Explosion Proof Equipment is the systems which have the capability to prevent internal sparks or explosions which may lead to large blast. The equipment find their applications in diverse industries such as aerospace and aircraft maintenance sites, construction sites, HVAC Systems, Manufacturing and Machine Processing units, Mining fields, Oil & Gas Extraction Fields. These are also predominantly incorporated into Automation and Control Systems across such industry verticals.

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The Global Explosion Proof Equipment Market in Automation & Control Systems Report provides detailed analysis of the different type of equipment based on type of protection and type of the component. The automation and control systems are mainly protected by two kinds of equipment from explosions in hazardous areas: explosion proof enclosures and the energy limitation and isolation systems. By component, the report is classified into Control Stations, Actuating elements, Control Panels, Material Handling Systems and others.

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Furthermore, the explosion proof equipment market study across various industries such as manufacturing, oil and gas production and refining, mining, marine industry, pharmaceuticals, food processing, HVAC and others is incorporated in the report. The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.

The market size for 2014 was nearly $730m and as depicted in the above figure, European and North America market hold significant market share with over 60% share in the revenue in 2014. However, South America with the minimum market share in 2014 is estimated to grow at a highest rate of 10% annually. The APAC region is forecast to be the growth segment in this market. In these regions, the growth is mainly driven by countries such as Argentina, Brazil, China, and South Korea. Brazil with its vast untapped offshore oil reserves has initiated a series of projects for extraction that will prove to be beneficial for explosion proof automation and control systems. The country has potential to generate significant market in next four years while China, on the path of becoming leading industrialized economy in the coming years. Furthermore, the evolving manufacturing and food processing industry, increasing adoption of automation and control systems are key market drivers. Also, growth in the pharmaceutical industry and adoption of automation systems into routine operations is helping the market to grow to $1.1 billion by 2020.

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The market is characterized by key manufacturers such as Crouse-Hinds (Cooper Industries), Extronics Ltd., R. STAHL, Inc., Marechal Electric Group and others. These companies are strongly positioned across all the major economies in the world and supplying the products in compliance with the country’s standards apart from the IEC regulations.

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Last Updated July 1, 2015