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
The market for wireless connectivity services is projected to
grow at a high growth rate during the forecast period. The growth of the
segment can be attributed to its lower installation cost, requirement for
cable-free operations, and reduction in space occupied and weight. Wireless
devices can minimize the number of devices installed, such as cabling and other
installation equipment leading to low installation expenditure and low labour
costs.
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
The Rest of the World is expected to grow at the
highest CAGR during the forecast period, due to the presence of the world’s
largest oil & gas production, mining, and energy & power industries,
which are highly prone to explosions in the region. The rising demand for
protection in the oil & gas industry led the manufacturers to certify their
products for use in explosive atmospheres.
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