Rising Demand in the Explosion Proof Equipment Industry

The explosion proof equipment market size is projected to grow from USD 7.4 billion in 2020 to USD 9.9 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. Factors such as the increasing industrial safety measures and rising energy requirements are driving the explosion proof equipment industry.

 

The explosion proof equipment market for wireless connectivity services is expected to grow at a higher rate during the forecast period

During the forecast period, the market for wireless connectivity services is expected to rise at a rapid pace. The segment's growth can be ascribed to its lower installation costs, the need for cable-free operations, and the reduction in area and weight occupied. Wireless devices can reduce the number of devices placed, as well as the amount of cabling and other installation equipment required, resulting in lower installation costs and labour costs. 

 

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The cable glands & accessories segment held the largest share of the explosion proof equipment market in 2019

The 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 RoW is projected to grow at the highest CAGR during the forecast period

Due to the existence of the world's major oil and gas production, mining, and energy & power industries, which are extremely prone to explosions, the Rest of the World is predicted to develop at the fastest CAGR during the forecast period.
Manufacturers certified their goods for use in explosive atmospheres in response to the growing need for protection in the oil and gas industry. 

 

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Key Market Players

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).