Explosion Proof Equipment Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 9.79 Billion |
| Market Size (2029) | USD 13.85 Billion |
| CAGR (2024 - 2029) | 7.18 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Explosion Proof Equipment Market Analysis
The Explosion-proof Equipment Market size is estimated at USD 9.79 billion in 2024, and is expected to reach USD 13.85 billion by 2029, growing at a CAGR of 7.18% during the forecast period (2024-2029).
The explosion-proof equipment market is poised to grow owing to the increasing demand for integrated systems, technological advancements in automation, expanding industrial sectors, and stringent government regulations concerning hazardous zones.
- Explosion-proof equipment, both electrical and non-electrical, is engineered to prevent and withstand explosions. This equipment, encased in specialized housing, is designed to withstand specific gas or vapor explosions. As the demand for energy increases, so does the need for secure fuel and energy delivery. Given their critical role in preventing explosions during electricity generation from natural resources, the demand for explosion-proof equipment is rising. With coal remaining essential in global energy production, new coal reserves are being explored.
- Explosion-proof equipment is utilized across various industries, including aerospace, construction, HVAC, manufacturing, mining, and oil extraction. Lighting, surveillance, and signaling equipment are particularly favored in these sectors. Driven by a rise in workplace accidents and mine explosions, regulatory bodies like OSHA are tightening protection protocols to protect workers and the environment. Recognizing the environmental sensitivity of oil and shale reserves, governments are enacting stringent regulations, especially in the oil and gas exploration sector.
- Given their prevalence in capital-intensive sectors like aerospace, manufacturing, and defense, explosion-proof devices command a premium. This results in higher safety device costs for these industries. Additionally, numerous tier 2 and tier 3 manufacturers are producing both single-phase and three-phase explosion-proof AC and DC motors. Low-voltage explosion-proof motors, widely used in the market, find applications in pumps, compressors, and blowers, particularly in the oil and gas sector. The anticipated increase in onshore and offshore oil and gas activities is set to significantly boost the demand for low-voltage motors.
- The absence of standardized laws poses challenges for producers and end-users in designing, testing, and installing explosion-proof equipment. These hurdles, coupled with increased installation costs, are likely to impede the market's growth. The oil and gas, along with the petrochemical sectors, have faced significant challenges due to the COVID-19 pandemic, including a sharp decline in demand, plummeting prices, and storage issues. Notably, the Asia-Pacific region witnessed a sharp decline in oil and gas demand during its lockdown phases, leading to varied impacts on the demand for explosion-proof equipment across different end-user industries.
Explosion Proof Equipment Market Trends
The Mining Industry is Expected to Hold a Significant Share in the Market
- Explosions in underground mines and processing plants are often triggered by the accumulation of toxic and flammable gases alongside combustible dust. Mining sites, with their numerous hazardous zones, pose significant health and safety risks to workers, compelling the industry to adopt explosion-proof equipment extensively. According to the May 28, 2024, Daily Fatality Report from the United States Department of Labor, 40 fatalities were reported in underground (UG) and surface (S) mines across the United States by the end of 2023. The data highlights the urgent necessity for the mining industry to bolster safety measures and regulatory compliance, safeguard workers, and minimize risks.
- Given the prevalence of flammable gases, combustible dust, and other ignitable materials in mining environments, the industry's move toward explosion-proof equipment is not just a trend but a necessity. This proactive stance is set to solidify the mining sector's market dominance in the coming years. Despite global efforts to enhance safety measures, mining remains one of the most perilous professions, with a disproportionately high fatality rate. Many companies are now investing in advanced equipment to detect leaks and avert disasters.
- Regulatory bodies are continuously updating standards to keep pace with the evolving nature of hazardous substances. As developing nations unearth significant mineral deposits, the mining sector, in tandem with these regulations, is witnessing substantial growth. The demand for enclosures in flameproof equipment is on the rise, driven by heightened mining activities globally and the increasing automation in various industries. This trend is bolstering the market's growth trajectory.
- Industrial firms and mining refineries are dedicating resources to equip their personnel and facilities against explosions. Bodies, like IECEx and OSHA, play pivotal roles in setting and upholding these operational and safety benchmarks.
Asia-Pacific is Expected to Witness a Significant Share in the Market
- The market for explosion-proof equipment is anticipated to be driven by the industrialization of Asian nations, particularly India and China. The Indian mining sector is expanding under a pro-industry government, while regions like the South China Sea and the Arabian Sea, known for their oil wealth, are increasingly turning to explosion-proof technology as regulations tighten.
- In the Asia-Pacific, the chemical and petrochemical industries handle the manufacture, processing, transportation, and storage of combustible materials. This often leads to the release of gases, vapors, or mists, creating an explosive atmosphere that poses risks to workers and equipment. Given that the chemical sector commonly deals with fine solids, such as dust, it is especially prone to explosions. With foreign businesses rapidly expanding their manufacturing facilities, the demand for explosion-proof equipment is set to rise.
- China has emerged as a prominent global leader in the manufacturing of equipment and machine tools. The country's manufacturing boom over the past decade has not only increased equipment production but also influenced the adoption rate of explosion-proof technology.
- India's processed food market is witnessing a surge in demand, driven by consumers' gravitation toward higher-value food categories. Meeting this demand necessitates technologically advanced processing equipment. As the adoption of explosion-proof equipment gains momentum, these trends are set to continue during the forecast period.
- Asia-Pacific's growing economies are poised to benefit from the rising demand for integrated systems, automation advancements, and stricter government regulations, especially in hazardous handling areas. To ensure worker and infrastructure safety, many organizations have set specific equipment standards. The Occupational Safety and Health Administration (OSHA) plays a pivotal role in setting and upholding workplace safety standards.
- With the increasing need for energy extraction, particularly in countries like India, where coal remains a primary energy source, the demand for explosion-proof equipment is rising. This equipment is crucial in preventing explosions from natural resources during power generation.
- As the oil and gas industry, especially in the Asia-Pacific, continues to expand, the adoption of explosion-proof equipment in Zone 0 is expected to grow. Furthermore, the industry's heightened focus on automation tools for monitoring gas storage and pipelines, coupled with rising safety concerns, is further bolstering the demand for explosion-proof technology.
Explosion Proof Equipment Industry Overview
The market for explosion-proof equipment is thriving, primarily driven by the significant presence of electrical product manufacturers. This has led to a semi-concentration ratio in major industry verticals, responding to the escalating safety demands. The demand for explosion-proof equipment is exceptionally high in industries such as oil and gas, mining, and chemicals, where the risk of explosions is substantial. Additionally, stringent government regulations and safety standards further propel the market's growth. Companies are increasingly investing in advanced technologies to enhance the safety and reliability of their products, thereby contributing to the market's expansion.
- In May 2024, Axis Communications, a prominent player in network video solutions, unveiled the industry's pioneering explosion-protected thermometric camera. This cutting-edge device is tailor-made and certified for deployment in zone and division 2 hazardous environments. Notably, it boasts a detection range that even covers the more critical zone and division 1 areas, allowing for enhanced operational efficiency through remote temperature monitoring.
- In January 2024, RealWear Inc. launched its explosion-proof smart glasses, RealWear Navigator Z1 smart glasses. The unveiling took place at the Consumer Electronics Show (CES), sparking significant interest in both the tech and industrial domains. Notably, the Navigator Z1 stands out with its Intrinsically Safe (IS) certification, a feature achieved through a strategic partnership with i.safe MOBILE, a leading expert in developing IS products.
Explosion Proof Equipment Market Leaders
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R. STAHL AG
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Marechal Electric Group
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RAE Systems (Honeywell)
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Pepperl+Fuchs GmbH
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Intertek Group PLC
*Disclaimer: Major Players sorted in no particular order
Explosion Proof Equipment Market News
- April 2024: ScanReach, a wireless IoT networking company, unveiled a strategic partnership with BARTEC. Together, they aim to introduce an explosion-proof node tailored for seamless sensor data integration in EX zones, specifically targeting the maritime sector. This innovative node, designed for hazardous environments, seamlessly integrates with ScanReach's OWC (Onboard Wireless Connectivity) network, enabling wireless data ingestion and sharing.
- May 2024: FANUC America, a global leader in automation, introduced the CRX-10iA/L Paint collaborative robot at the Automate event in Chicago, held from May 6-9. Positioned at booth #1250, this unveiling marked a significant milestone. FANUC's CRX-10iA/L Paint Cobot stands out as the world's first collaborative paint robot, engineered to be explosion-proof, setting a new standard in safety. This innovation is poised to democratize automation, particularly benefiting companies in the painting, powder coating, and gel coating with fiberglass reinforcement sectors. Notably, the CRX-10iA/L Paint Cobot is tailored not only to enhance various paint operations, including those in high-mix, low-volume scenarios, but also to meet the rigorous explosion-proof safety mandates prevalent in the United States.
Explosion Proof Equipment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Stricter Regulations for Handling Hazardous Areas and Substances
- 5.1.2 Increasing Energy Requirements Drives the Demand for Exploration of New Mines and Oil and Gas Resources
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5.2 Market Restraints
- 5.2.1 Slow Economic Activity Directly Affects the Market
- 5.2.2 Safety Regulations Vary Across Different Geographies
6. MARKET SEGMENTATION
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6.1 By Method of Protection
- 6.1.1 Explosion Proof
- 6.1.2 Explosion Prevention
- 6.1.3 Explosion Segregation
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6.2 By Zone
- 6.2.1 Zone 0
- 6.2.2 Zone 20
- 6.2.3 Zone 1
- 6.2.4 Zone 21
- 6.2.5 Zone 2
- 6.2.6 Zone 22
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6.3 By End-user
- 6.3.1 Pharmaceutical
- 6.3.2 Chemical and Petrochemical
- 6.3.3 Energy and Power
- 6.3.4 Mining
- 6.3.5 Food Processing
- 6.3.6 Oil and Gas
- 6.3.7 Other End Users
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6.4 By System
- 6.4.1 Power Supply System
- 6.4.2 Material Handling
- 6.4.3 Motor
- 6.4.4 Automation System
- 6.4.5 Surveillance System
- 6.4.6 Other Systems
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6.5 By Geography
- 6.5.1 North America
- 6.5.1.1 United States
- 6.5.1.2 Canada
- 6.5.2 Europe
- 6.5.2.1 United Kingdom
- 6.5.2.2 Germany
- 6.5.2.3 France
- 6.5.2.4 Rest of Europe
- 6.5.3 Asia-Pacific
- 6.5.3.1 China
- 6.5.3.2 Japan
- 6.5.3.3 India
- 6.5.3.4 Rest of Asia-Pacific
- 6.5.4 Rest of the World
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles*
- 7.1.1 R. STAHL AG
- 7.1.2 Marechal Electric Group
- 7.1.3 RAE Systems (Honeywell)
- 7.1.4 Pepperl+Fuchs GmbH
- 7.1.5 Intertek Group PLC
- 7.1.6 Adalet Inc.
- 7.1.7 Bartec GmbH
- 7.1.8 Alloy Industry Co. Ltd
- 7.1.9 Cordex Instruments Ltd
- 7.1.10 G.M. International SRL
- 7.1.11 Extronics Limited
- 7.1.12 ABB Ltd
- 7.1.13 Eaton Corporation PLC
- 7.1.14 MAM Explosion-proof Technology (Shanghai) Co. Ltd
- 7.1.15 CZ Electric Co. Ltd
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Explosion Proof Equipment Industry Segmentation
Explosion-proof equipment refers to products that can internally withstand any internal explosion, any sparks generated internally, and prevent these sparks from igniting any vapors, gases, fibers, or dust in the surrounding environment.
The scope of the study focuses on the market analysis segmented by the method of protection (explosion proof, explosion prevention, and explosion segregation), zone (zone 0, zone 20, zone 1, zone 21, zone 2, and zone 22), end user (pharmaceutical, chemical, and petrochemical, energy and power, mining, food processing, oil and gas, other end users), system (power supply system, material handling, motor, automation system, surveillance system, and other systems), and geography (North America, Europe, Asia-Pacific, and rest of the world). The market sizes and forecasts are provided in terms of value in (USD) for all the above segments.
| By Method of Protection | Explosion Proof | |
| Explosion Prevention | ||
| Explosion Segregation | ||
| By Zone | Zone 0 | |
| Zone 20 | ||
| Zone 1 | ||
| Zone 21 | ||
| Zone 2 | ||
| Zone 22 | ||
| By End-user | Pharmaceutical | |
| Chemical and Petrochemical | ||
| Energy and Power | ||
| Mining | ||
| Food Processing | ||
| Oil and Gas | ||
| Other End Users | ||
| By System | Power Supply System | |
| Material Handling | ||
| Motor | ||
| Automation System | ||
| Surveillance System | ||
| Other Systems | ||
| By Geography | North America | United States |
| Canada | ||
| By Geography | Europe | United Kingdom |
| Germany | ||
| France | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Rest of Asia-Pacific | ||
| By Geography | Rest of the World |
Explosion Proof Equipment Market Research FAQs
How big is the Explosion Proof Equipment Market?
The Explosion Proof Equipment Market size is expected to reach USD 9.79 billion in 2024 and grow at a CAGR of 7.18% to reach USD 13.85 billion by 2029.
What is the current Explosion Proof Equipment Market size?
In 2024, the Explosion Proof Equipment Market size is expected to reach USD 9.79 billion.
Who are the key players in Explosion Proof Equipment Market?
R. STAHL AG, Marechal Electric Group, RAE Systems (Honeywell), Pepperl+Fuchs GmbH and Intertek Group PLC are the major companies operating in the Explosion Proof Equipment Market.
Which is the fastest growing region in Explosion Proof Equipment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Explosion Proof Equipment Market?
In 2024, the Asia Pacific accounts for the largest market share in Explosion Proof Equipment Market.
What years does this Explosion Proof Equipment Market cover, and what was the market size in 2023?
In 2023, the Explosion Proof Equipment Market size was estimated at USD 9.09 billion. The report covers the Explosion Proof Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Explosion Proof Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Explosion Proof Equipment Industry Report
Statistics for the 2024 Explosion Proof Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Explosion Proof Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
