LONDON–(BUSINESS WIRE)–The global electrical explosion proof equipment market size is expected to grow by USD 405.48 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates. Healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 4%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on “Electrical Explosion Proof Equipment Market Analysis Report by Type (Enclosures, Encapsulations, and Conduit and cable sales) and Geography (North America, APAC, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024”.
The market is driven by the rising demand for safety in industrial operations. In addition, the emergence of safety regulations is anticipated to boost the growth of the electrical explosion proof equipment market.
Health, safety, and environment have become non-negotiable factors in the operation of industries. Industries are taking steps to enhance process safety and improve the efficiency of the workforce. Some of the reasons driving the need for increased focus on industrial safety include several factors such as safety regulations, industrial operations in remote locations, and the high price of sophisticated machinery. A safety hazard in the workplace escalates to impact nearby equipment and employees, leading to large-scale destruction. In the case of any damage to equipment, the related work may remain stalled for an undesirable number of workhours. This, in turn, keeps other related processes on hold. Thus, improving safety in industries also helps to prevent downtime of operations which further mandates the incorporation of safety devices and equipment. As a result, the demand for electrical explosion proof equipment will increase, thus, driving the growth of the market.
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Major Five Electrical Explosion Proof Equipment Companies:
ABB Ltd. has business operations under various segments, such as electrification, industrial automation, motion, robotics and discrete automation, and corporate and other. The company offers a wide range of electrical explosion proof equipment such as lighting UL, conduit and fittings, and cable glands.
Eaton Corporation Plc
Eaton Corporation Plc operates its business through various segments, such as electrical products, electrical systems and services, hydraulics, aerospace, vehicle, and eMobility. The company offers a wide range of electrical explosion proof equipment such as enclosures, junction boxes, control panels, and union hubs.
Emerson Electric Co.
Emerson Electric Co. has business operations under two segments: automation solutions and commercial, and residential solutions. The company offers a wide range of electrical explosion proof equipment such as enclosures, junction boxes, outlet boxes, and flameproof camera housing.
General Electric Co.
General Electric Co. operates its business through various segments, such as power, renewable energy, aviation, and healthcare. The company offers a wide range of electrical explosion proof equipment such as explosion proof lighting and enclosures.
Honeywell International Inc.
Honeywell International Inc. has business operations under various segments, such as aerospace, Honeywell Building Technologies, performance materials and technologies, and safety and productivity solutions. The company offers a wide range of electrical explosion proof equipment such as hazardous area limit switches and enclosure.
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Electrical Explosion Proof Equipment Type Outlook (Revenue, USD mn, 2020-2024)
- Conduit and cable sales
Electrical Explosion Proof Equipment Regional Outlook (Revenue, USD mn, 2020-2024)
- North America
- South America
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