Asia Pacific Explosion Proof Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By System (Junction Boxes & Enclosures, Lighting System, Monitoring System, Signaling Devices, Automation System, Cable Glands, HVAC Systems, and Others

Asia Pacific Explosion Proof Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By System (Junction Boxes & Enclosures, Lighting System, Monitoring System, Signaling Devices, Automation System, Cable Glands, HVAC Systems, and Others), Protection Method (Explosion Prevention, Explosion Containment, and Explosion Segregation), and Industry (Pharmaceutical, Mining, Oil & Gas, Manufacturing, Food Processing, Energy & Power, Chemical & Petrochemical, and Others)       

The explosion proof equipment market in APAC is expected to grow from US$ 2,084.59 million in 2021 to US$ 3,560.25 million by 2028. It is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

With the surge in incidents/accidents happening in industries, such as mining and oil & gas, the focus on industrial safety measures has also increased worldwide. For instance, according to the article published by The Hindu Magazine, in August 2020, the state government of Andhra Pradesh (India) is contemplating bringing in a new industrial safety policy to prevent accidents, which of late, have been taking place at regular intervals. A special drive was being conducted in industries to inspect safety measures. There is pressure on authorities to enforce the new industrial safety policy and include industries' existing safety regulations under its purview.

Similarly, according to the article published by Business Standard, in September 2021, the Department for Promotion of Industry and Internal Trade of India has eased ammonium nitrate and calcium carbide rules to improve their safety measures in storage and transportation. This was done against the backdrop of the lessons learned from the deadly Beirut explosion that killed about 140 people in August 2020. Steps are also being taken to reduce the compliance burden for the industry to ensure industrial safety in critical premises, such as petroleum installations, explosive manufacturing facilities, cylinder filling, and storage premises. Thus, governments in APAC are taking the initiative to implement policies, considering workers' safety.

Further, to reduce the combustion risk, the businesses deploy fixtures with approval ratings of Class 1 Division 1 (C1D1) and Class 1 Division 2 (C1D2) inside the facility. Further, fixtures that are designed for oil refineries come with advanced features, such as water-tightness and corrosion-resistance. This is due to the frequent exposure to abrasive cleaning solutions. The constant exposure to corrosive agents and water may cause the failure of lights, leading to a severe safety hazard, specifically for workers. Thus, introducing better equipment helps reduce the number of incidents in factories worldwide. Therefore, several government policies and increasing full-proof equipment in industries are creating opportunities for the explosion proof equipment market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC explosion proof equipment market at a promising CAGR during the forecast period.

APAC Explosion Proof Equipment Market Revenue and Forecast to 2028 (US$ Million)

APAC Explosion Proof Equipment Market Segmentation

APAC Explosion Proof Equipment Market - By System

Junction Boxes & Enclosures Lighting System Monitoring System Signaling Devices Automation System Cable Glands HVAC Systems Others APAC Explosion Proof Equipment Market - By Protection Method

Explosion Prevention Explosion Containment Explosion Segregation APAC Explosion Proof Equipment Market - By Industry

Pharmaceutical Mining Oil & Gas Manufacturing Food Processing Energy & Power Chemical & Petrochemical Others APAC Explosion Proof Equipment Market, by Country

Australia China India Japan South Korea Rest of APACAPAC Explosion Proof Equipment Market - Companies Mentioned

ABB Ltd BARTEC Group Eaton Corporation plc Emerson Electric Co. Hubbell Incorporated R. STAHL AG Rockwell Automation, Inc. Siemens AG

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC explosion proof equipment market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the APAC explosion proof equipment market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the explosion proof equipment market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution