Explosion Proof Equipment Market Size, Share & Trends Analysis Report By Protection Method (Explosion Prevention, Explosion Containment), By Industry (Mining, Oil & Gas), By System, By Region, And Segment Forecasts, 2023 - 2030

Explosion Proof Equipment Market Size, Share & Trends Analysis Report By Protection Method (Explosion Prevention, Explosion Containment), By Industry (Mining, Oil & Gas), By System, By Region, And Segment Forecasts, 2023 - 2030

Explosion Proof Equipment Market Growth & Trends

The global explosion proof equipment market size is anticipated to reach USD 11.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030, according to a new report by Grand ViewResearch, Inc. The rising industrial activities and the expansion of the energy and power generation sector worldwide are expected to fuel the demand for explosion proof equipment over the forecast period. Moreover, increasing compliance with the strict safety regulations imposed by government regulating bodies across the globe is positively impacting the market growth. To improve the workers’ safety, various companies in the end-use industry are adhering to the rules and regulations and installing explosion proof equipment in their premises.

Mandatory safety regulations established by authoritative agencies like the Occupational Safety and Health Administration (OSHA), and the National Fire Protection Association (NFPA), having presence in the U.S. and Canada, necessitate the utilization of explosion-proof equipment in explosion-prone environments. Among the key components of explosion prevention equipment are electrical enclosures and duct collectors which are meticulously engineered to contain any potential explosions that may occur within them. These enclosures are sealed tightly to prevent the escape of sparks, arcs, or flames.

The increase in mining activities across the globe is another driver of the market as the use of explosion proof equipment in the industry is essential to protect the chances of explosion due to the presence of inflammable gases and oxygen. Explosion proof electrical equipment such as electrical enclosures are used to eliminate the risk of electrical sparks or arcs that could potentially ignite the mixture of flammable gases and oxygen.

Within the explosion proof equipment industry, monitoring systems encompass specialized devices and technologies engineered for overseeing and regulating various safety and operational aspects in hazardous environments. By delivering real-time data they empower operators and safety personnel to promptly and efficiently address potential hazards. With the growth in the industrial corridors in various sectors such as food processing and pharmaceuticals across the globe, the demand for explosion proof equipment to monitor operations is expected to increase.

Explosion Proof Equipment Market Report Highlights

• Based on protection method, the explosion prevention segment held the highest market share of 45.1% in 2022.Explosion prevention equipment is precisely designed to reduce the likelihood of igniting flammable gases, vapors, dust, or fibers, thereby minimizing the risk of explosions
• Based on industry, the mining segment held the highest market share of 21.6% in 2022. Explosion proof control panels and enclosures are used to house the control systems that operate various mining machinery and equipment
• Based on systems, the junction-box segment is expected to show a lucrative CAGR over the forecasted period. These boxes and enclosures are designed to house electrical connections, switches, and other sensitive components while ensuring that, they should not become ignition sources in potentially explosive atmospheres
• Asia Pacific region is anticipated to grow at the fastest CAGR from 2023 to 2030. Increasing mining activities, manufacturing industry, chemical processing industries, and food processing industries are expected to drive the market in the region

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