Selbyville, Delaware, April 28, 2020 (GLOBE NEWSWIRE) -- The global electrical explosion proof equipment market recorded a remuneration of USD 6,834.6 million in 2019 and is further estimated to accrue considerable gains over 2020-2026. The electrical explosion proof equipment is a protection measure well known to avert explosions from occurring in hazardous areas for instance, an unanticipated rise in energy of the system, lined with an abrupt increase in temperature and release of toxic gases.
The report offers a detailed bifurcation into type and applications. Further, it also lays focus on the exhaustive geographical analysis of overall electrical explosion proof equipment market. Additionally, the research report includes the impact of ongoing coronavirus spread on the overall market in the upcoming years.
Moreover, this analysis is expected to potentially support the producers in manufacturing of these equipment by guiding them with the information pertaining to ongoing technological trends, current market valuation, current and predicted growth rates, and future prospects.
It is evident that ongoing COVID-19 virus spread has disrupted the global economy over the last few months. The disease has spread to over more than 100 countries as of today, while claiming millions of lives worldwide. Apparently, this spread is touted to significantly affect the electrical explosion proof equipment market in 2020, owing to its massive demand in ongoing pandemic. It has been predicted that over the next five years, the global consumption of explosion proof equipment would witness an upward trend with a revenue scale being pegged at USD 7,655.52 million in 2022.
Electrical explosion proof equipment market is fragmented into vivid types, applications, regions, and industry rivals. Based on the type segmentation, the overall electrical explosion proof equipment market is sub-segmented into flame-proof, intrinsic safety, sand filled, oil-immersed, and various others. This segment in particular, is expected to grow at a prodigious pace in the upcoming years.
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Electrical explosion proof equipment finds application in mining, oil and gas, manufacturing processing, chemical and materials, and other sectors.
Although sales of explosion proof equipment have introduced ample opportunities for new entrants, technology and cost paired with competition problems remain the fundamental challenges for the market growth. However, attributing to the clear global recovery trends, investors are still looking forward to making an entry in the market with new investments.
Competitive landscape:
The global electrical explosion proof equipment marker is highly consolidated and boasts the presence of prominent companies like Emerson, Eaton, Pepperl+Fuchs, ABB, Bartec, Siemens, and several others. According to this report, Eaton seized an overall revenue share of 8.72% in 2016 in the overall market, followed by Emerson capturing a share of 6.52%, R.Stahl with 4.95% revenue share, and Siemens with a revenue share of 4.45%.
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The worldwide electrical explosion proof equipment market is divided on the basis of types, applications, regions, and competitive landscape:
Electrical Explosion Proof Equipment Market Type Analysis (Revenue, USD million, 2015-2026)
- Flame-proof Type
- Increased Safety Type
- Intrinsic Safety Type
- Positive-pressure Type
- Oil-immersed Type
- Sand Filled Type
- Others
Electrical Explosion Proof Equipment Market Application Analysis (Revenue, USD million, 2015-2026)
- Oil and Gas
- Mining
- Chemical & Material
- Manufacturing Processing
- Others
Electrical Explosion Proof Equipment Market Regional Analysis (Revenue, USD million, 2015-2026)
- US
- Canada
- China
- Japan
- Germany
- UK
- France
- Russia
- Brazil
- Turkey
- Taiwan
- Thailand
- Vietnam
- South Korea
- Others
Electrical Explosion Proof Equipment Market Competitive Landscape Analysis (Revenue, USD million, 2015-2026)
- Eaton
- Emerson
- R.Stahl
- Siemens
- Pepperl+Fuchs
- ABB
- Bartec
- GE
- Toshiba
- WEG
- Wolong
- Jiamusi Electric Machine
- Dianguang Technology
- Feice
- Er'Le Electrical Technology
- Bada Electric
- Shlmex
- Helon
- Huaxia
- Warom
Related Report:
Electrical Safety Personal Protective Equipment (PPE) Market Share & Forecast, 2019- 2025
Electrical Safety PPE Market is set to surpass USD 20 billion by 2025; according to a new research report. Rising safety concerns at hazardous occupational environment supported by growing incidences of electrical injuries will have positive impact on electrical safety PPE market. Strict regulatory standards by OSHA and EU Commission for occupational safety supported by timely assessments and inspection has led to mandatory compliance which will drive industry growth.
Electrical safety PPE market from transmission application may witness significant gains over the forecast timeframe. Rising electrification ratio owing to rapid industrialization and urbanization mainly in China and India will accelerate industry growth. Increasing number of working personnel on transmission lines for maintenance, repair and tower building will further support product demand over the projected timeline.
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