Global Explosion Proof Motors Market 2024-2028
Explosion Proof Motors Market 2024-2028
The explosion proof motors market is forecasted to grow by USD 427.3 mn during 2023-2028, accelerating at a CAGR of 4.5% during the forecast period. The report on the explosion proof motors market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing number of initiatives to develop energy-efficient motors, growth in investments in chemical and petrochemical industry, and stringent regulations for the use of explosion proof equipment in hazardous environments.
Technavio's explosion proof motors market is segmented as below:
By End-user
- Oil and gas
- Chemicals and petrochemicals
- Metals and mining
- Power
- Others
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the emergence of compact explosion proof motors as one of the prime reasons driving the explosion proof motors market growth during the next few years. Also, high demand for customized explosion proof motors and process industries prone to explosions due to combustible dust will lead to sizable demand in the market.
The report on the explosion proof motors market covers the following areas:
- Explosion proof motors market sizing
- Explosion proof motors market forecast
- Explosion proof motors market industry analysis
The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading explosion proof motors market vendors that include ABB Ltd., Bodine Electric Co., Brook Crompton UK Ltd., General Electric Co., Hoyer Motors, Hyosung Heavy Industries Corp., JIANGSU DAZHONG ELECTRICAL APPLIANCE Co. Ltd., Kollmorgen Corp., Lafert North America Inc., Meidensha Corp., Nidec Corp., Regal Rexnord Corp., Rockwell Automation Inc., Shaanxi Lite Simo Motor Technology Co. Ltd., Siemens AG, TECO-Westinghouse, Toshiba Corp., WEG Equipamentos Eletricos S.A., Wolong Electric Group Co. Ltd., and Wuxi Xian Explosion-proof Motor Co. Ltd.. Also, the explosion proof motors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The companies presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.