North America Explosion-Proof Equipment Market Size (2024 - 2029)

The North America explosion-proof equipment market is influenced by the increasing demand for safe equipment in industries prone to explosion hazards, such as mining and oil and gas. The region's regulatory bodies, including Underwriters Laboratories and the Occupational Safety and Health Administration, contribute to the market's growth by enforcing safety standards that lead to higher replacement rates of existing equipment. Despite the challenges posed by the COVID-19 pandemic, which significantly impacted the oil and gas sectors, the market continues to evolve, particularly as the United States adopts new hazardous location classification systems.

Market Size of North America Explosion-Proof Equipment Industry

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North America Explosion-Proof Equipment Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.80 %
Market Concentration Medium

Major Players

North America Explosion-Proof Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Explosion-Proof Equipment Market Analysis

The North America explosion proof equipment market is expected to register a CAGR of 3.8% during the forecast period 2020 - 2025. Explosion-proof equipment are electrical and non-electrical fixtures that can prevent explosions and withstand them. An explosion-proof equipment has an apparatus enclosed in a case, capable of withstanding an explosion of a specific gas or vapor that may occur within it.

  • Growing energy requirements is a key factor driving the demand for the exploration of new mines and oil and gas resources, which, in turn, demands safe equipment. These are the industries that are prone to explosion hazards. For instance, the mining sector in the United States accounts for significant number of injuries, in the country.
  • In Canada, the mining sector is considered as a pillar of the Canadian economy. The country is one of the leading producers of many useful mineral ores and metals, which includes asbestos, sulfur, titanium, platinum, aluminum, zinc, copper, lead, silver, gold, and other precious metals.
  • The major regulatory bodies in the region are- Underwriters Laboratories(UL), an American safety consulting and certification company, Occupational Safety and Health Administration (OSHA), Factory Mutual - FM3610, National Fire Protection Association(NFPA), etc. Thus the market witnessed an increase in the replacement rates of the existing equipment.
  • However, as compared to the rest of the world, the alternative Zone system of hazardous location classification is still new for the United States, which is further leading to the replacement of existing machinery in the industries.
  • With the outbreak of COVID-19, oil and gas and petrochemical industries have been severely affected due to a drastic decrease in product demand, falling prices, and storage shortages. Oil prices decreased by 50% since January 2020, with US markets observing the worst price drops. The International Energy Agency reported that oil demand decreased by 29 million barrels per day during the month of April 2020 and are expected to further decrease by 23.1 million barrels per day by Q2 2020.

North America Explosion-Proof Equipment Industry Segmentation

Explosion-proof equipment refers to products that limit any source of explosion within its housings. This equipment relies on various principles of protection, such as explosion prevention, explosion proof, and explosion segregation. While explosion-proof equipment utilizes a robust, protective housing, in order to contain any explosion within itself, explosion segregation equipment isolates the source of explosion inside a protective medium. The scope of the market is comprehensive and is limited to North America.

Method of Protection
Explosion Proof
Explosion Prevention
Explosion Segregation
Zone
Zone 0
Zone 20
Zone 1
Zone 21
Zone 2
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
Other Systems
Country
United States
Canada
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North America Explosion-Proof Equipment Market Size Summary

The North America explosion-proof equipment market is driven by the increasing demand for safety in industries prone to explosion hazards, such as mining, oil and gas, and petrochemicals. These sectors require equipment that can prevent and withstand explosions, especially as they explore new resources to meet growing energy demands. Regulatory bodies like Underwriters Laboratories, OSHA, and the National Fire Protection Association play a crucial role in ensuring safety standards, prompting the replacement of outdated equipment. The market is also influenced by the need for compliance with stringent government regulations and the upgrading of industrial infrastructure to enhance safety and reduce energy consumption. The oil and gas industry, despite challenges posed by COVID-19, continues to drive demand for explosion-proof equipment due to the hazardous conditions present in refineries and production facilities.

The market is moderately fragmented, with major players expanding their customer base and engaging in strategic collaborations to enhance their market share. Companies are focusing on product development and obtaining global accreditations to meet international standards. The pharmaceutical industry in the region is also contributing to market growth, as manufacturers adopt explosion-proof machinery to comply with FDA standards. The presence of multiple pharmaceutical plants is expected to further promote market expansion. Recent developments, such as partnerships and the establishment of testing and certification facilities, highlight the ongoing efforts to improve hazardous area control systems and ensure safety in various industrial applications.

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North America Explosion-Proof Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Market Drivers

      1. 1.4.1 Stricter Regulations for Handling Hazardous Areas and Substances

      2. 1.4.2 Growing Energy Requirements Drives the Demand for Exploration of New Mines and Oil and Gas Resources

    5. 1.5 Market Restraints

      1. 1.5.1 Slow Economic Activity Directly Affects the Market

      2. 1.5.2 Safety Regulations Vary Across Different Geographies

    6. 1.6 Assessment of COVID-19 impact on the industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Method of Protection

      1. 2.1.1 Explosion Proof

      2. 2.1.2 Explosion Prevention

      3. 2.1.3 Explosion Segregation

    2. 2.2 Zone

      1. 2.2.1 Zone 0

      2. 2.2.2 Zone 20

      3. 2.2.3 Zone 1

      4. 2.2.4 Zone 21

      5. 2.2.5 Zone 2

      6. 2.2.6 Zone 22

    3. 2.3 End User

      1. 2.3.1 Pharmaceutical

      2. 2.3.2 Chemical and Petrochemical

      3. 2.3.3 Energy and Power

      4. 2.3.4 Mining

      5. 2.3.5 Food Processing

      6. 2.3.6 Oil and Gas

      7. 2.3.7 Other End Users

    4. 2.4 System

      1. 2.4.1 Power Supply System

      2. 2.4.2 Material Handling

      3. 2.4.3 Motor

      4. 2.4.4 Automation System

      5. 2.4.5 Surveillance System

      6. 2.4.6 Other Systems

    5. 2.5 Country

      1. 2.5.1 United States

      2. 2.5.2 Canada

North America Explosion-Proof Equipment Market Size FAQs

The North America Explosion-Proof Equipment Market is projected to register a CAGR of 3.80% during the forecast period (2024-2029)

R. STAHL AG​, RAE Systems (Honeywell)​, Intertek Group PLC​, Pepperl+Fuchs GmbH​ and Bartec GmbH​ are the major companies operating in the North America Explosion-Proof Equipment Market.

North America Explosion-Proof Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)