NEW YORK , Jan. 11, 2023 /PRNewswire/ -- According to Technavio, the global electrical explosion-proof equipment market size is estimated to grow by USD 9,607.98 million from 2022 to 2027. The market is estimated to grow at a CAGR of 12.28% during the forecast period. Moreover, the growth momentum will progress. APAC will account for 57% of the growth of the global market during the forecast period.

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Global electrical explosion-proof equipment market - Five forces The global electrical explosion-proof equipment market is fragmented, and the five forces analysis covers –

The threat of new entrants

For an interpretation of Porter's five forces model – buy the report!

Global electrical explosion-proof equipment market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global electrical explosion-proof equipment market - Segmentation assessment

Segment overview Technavio has segmented the market based on application (industrial and non-industrial) and type (flame-proof type, increased safety type, intrinsic safety type, positive-pressure type, and others).

The industrial segment will grow at a significant rate during the forecast period. The adoption of electrical explosion-proof equipment across various industries is expected to increase, with the growth of industrial automation and the need for safety measures at workplaces. The rising adoption of industrial automation in the power, electronics, and automotive industries will drive the growth of this segment during the forecast period.

Geography overview Based on geography, the global electrical explosion-proof equipment market is segmented into APAC, North America , Europe , Middle East and Africa , and South America . The report provides actionable insights and estimates the contribution of all regions to the growth of the global electrical explosion-proof equipment market.

APAC is estimated to account for 57% of the growth of the global market during the forecast period. APAC is densely populated, which has increased the demand for automobiles. The growth of the automotive industry is expected to increase the adoption of industrial automation, which will require safety devices. This necessity, in turn, is expected to drive the growth of the electrical explosion-proof equipment market in the region during the forecast period.

Global electrical explosion-proof equipment market – Market dynamics Key factor driving market growth

The increasing demand for safety in industrial operations is driving the growth of the market. 

Industries are taking steps to improve process safety and work efficiency. Hence, there is a need to focus on occupational safety.

With Industry 4.0 and the Internet of Things, the introduction of new machines has increased, which are highly expensive and need to be protected.

These factors will drive the growth of the market in the region.

Leading trends influencing the market 

The rising focus on explosion prevention is a trend in the market.

The need to improve the safety of industrial areas has increased the adoption of explosion protection devices.

The electronics industry uses explosion-proof equipment to protect expensive equipment and reduce downtime on job sites, as electrical explosions can cause sparks or arc flashes.

Major challenges hindering market growth

Fluctuating prices of raw materials challenging the electrical explosion-proof equipment market growth.

Enclosures, encapsulations, and conduit and cable seals require materials such as iron, aluminum, and steel for production. However, the prices of these raw materials vary throughout the year due to price wars between raw material suppliers or changes in the suppliers' export and import regulations.

To solve the challenges caused by price volatility, manufacturers are looking for long-term alliances with raw material suppliers. However, many small producers cannot afford such contracts.

These factors will hinder the growth of the global market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this electrical explosion-proof equipment market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the electrical explosion-proof equipment market between 2022 and 2027

Precise estimation of the size of the electrical explosion-proof equipment market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the electrical explosion-proof equipment market across APAC, North America , Europe , Middle East and Africa , and South America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of electrical explosion-proof equipment market vendors

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The predicted growth of the intrinsically safe equipment market size will be USD 1.25 billion at a progressing CAGR of 7.19% between 2021 and 2026. This report extensively covers segmentation by end-user (oil and gas, mining, power, chemical and petrochemical, and others) and geography (North America , Europe , APAC, South America , and Middle East and Africa ).

Electrical Explosion-Proof Equipment Market Scope

Accelerate at a CAGR of 12.28%

APAC, North America, Europe, Middle East and Africa, and South America

US, China, India, Germany, and Russia

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

ABB Ltd., Atexxo Manufacturing BV, BARTEC Top Holding GmbH, Eaton Corp. Plc, Emerson Electric Co, Extronics Ltd., Flexpro Electricals Pvt. Ltd, Honeywell International Inc., Miretti Srl, Patlite Corp., Pepperl and Fuchs SE, Potter Electric Signal Co LLC, R&M Electrical Group Ltd., R Stahl AG, Rockwell Automation Inc., Siemens AG, Supermec Pvt. Ltd., TRI FLP Engineers Pvt Ltd, VIMEX, and WEG SA

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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3.4 Market outlook: Forecast for 2022-2027

4.1 Global electrical explosion proof equipment market 2017 - 2021

4.2 By Application Segment Analysis 2017 - 2021

4.3 By Type Segment Analysis 2017 - 2021

6.3 Industrial - Market size and forecast 2022-2027

6.4 Non-industrial - Market size and forecast 2022-2027

7.3 Flame-proof type - Market size and forecast 2022-2027

7.4 Increased safety type - Market size and forecast 2022-2027

7.5 Intrinsic safety type - Market size and forecast 2022-2027

7.6 Positive-pressure type - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 India - Market size and forecast 2022-2027

9.12 Russia - Market size and forecast 2022-2027

10.3 Impact of drivers and challenges

13.3 Currency conversion rates for US$

About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/

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