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Electrical Explosion Proof Equipment Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 129
  • SKU: IRTNTR44192
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The electrical explosion proof equipment market share is expected to increase by USD 7.68 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 11.13%.

This electrical explosion proof equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electrical explosion proof equipment market segmentations by application (industrial and non-industrial) and geography (APAC, North America, Europe, MEA, and South America). The electrical explosion proof equipment market report also offers information on several market vendors, including ABB Ltd., Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Pepperl+Fuchs SE, R&M Electrical Group Ltd., R. STAHL AG, Rockwell Automation Inc., Siemens AG, and WEG Equipamentos Eletricos SA among others.

What will the Electrical Explosion Proof Equipment Market Size be During the Forecast Period?

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Electrical Explosion Proof Equipment Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for safety in industrial operations is notably driving the electrical explosion proof equipment market growth, although factors such as fluctuating prices of raw materials may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electrical explosion proof equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electrical Explosion Proof Equipment Market Driver

One of the key factors driving the electrical explosion proof equipment market growth is the increasing demand for safety in industrial operations. Health, safety, and environment have become non-negotiable necessities in all industries. Industries are taking steps to enhance the process safety, and in return, are hoping to improve the efficiency of the workforce. Some of the reasons driving the need for increased focus on industrial safety include increasing younger generation workforce, industrial operations in remote locations, and high price of sophisticated machinery. Industries are experiencing a change, wherein old age and experienced employees are being replaced by young and inexperienced personnel. Young employees are more prone to make errors, and consequently get exposed to a hazard. With the advent of Industry 4.0 and IoT, the adoption of new machinery in industries has increased. These machineries are effective and efficient but are priced higher than the conventional ones. The need to protect this high-cost machinery is driving the adoption of industrial safety processes in operations.

Key Electrical Explosion Proof Equipment Market Trend

Another key factor driving electrical explosion proof equipment market growth is the rising focus on explosion prevention and increasing need for emergency response systems and safety sensors. The increasing need to improve the safety in industrial areas has improved the adoption rate of explosion protection devices. The snowballing rise in the number of explosions has prompted industries to increasingly focus on explosion prevention. The need to contain an explosion and to eliminate situations that can create one have emerged as paramount priorities in industries. To protect costly equipment and reduce downtime in workplaces, industries are endorsing electrical explosion proof equipment. Electrical explosions can result due to sparks or electric arc flashes in workplaces. These sparks and arc flashes can cause major damages in industries and add cost to companies. Therefore, industries have increasingly started focusing on adopting ways to prevent explosions. Moreover, the need for emergency response systems and safety sensors has become a major trend in the industry. It is expected that during the forecast period, industrial and non-industrial applications will witness higher implementation of emergency response devices and safety sensors to address asset and incumbent safety.

Key Electrical Explosion Proof Equipment Market Challenge

Fluctuating prices of raw materials is one of the key challenges hindering the electrical explosion proof equipment market growth. The fluctuating price of raw materials used for manufacturing electrical explosion proof equipment will remain a challenge hindering the growth of the market during the forecast period. Enclosures, encapsulations, and conduit and cable seals require materials such as iron, aluminum, and steel for their production. Prices of these raw materials keep fluctuating throughout the year. These variations can be a result of price wars between raw material suppliers or due to change in export and import regulations of the supplying nation. The fluctuation in prices of raw materials is expected to prevail during the forecast period. Manufacturers of electrical explosion proof equipment rely heavily on raw material suppliers and due to volatility in prices they face challenges in terms of the manufacturing cost. To overcome this, most of the manufacturers seek a long-term alliance with raw material suppliers. However, this does not happen in most of the cases. This is because several small-scale manufacturers are financially incapable of forming such contracts with raw material suppliers.

This electrical explosion proof equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global electrical explosion proof equipment market as a part of the global heavy electrical equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electrical explosion proof equipment market during the forecast period.

Who are the Major Electrical Explosion Proof Equipment Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • ABB Ltd.
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • Honeywell International Inc.
  • Pepperl+Fuchs SE
  • R&M Electrical Group Ltd.
  • R. STAHL AG
  • Rockwell Automation Inc.
  • Siemens AG
  • WEG Equipamentos Eletricos SA

This statistical study of the electrical explosion proof equipment market encompasses successful business strategies deployed by the key vendors. The electrical explosion proof equipment market is fragmented and the vendors are deploying growth strategies such as product launches, M&A, divestitures, JVs, and partnerships to compete in the market.

Product Insights and News

  • ABB Ltd. - The company offers different types of electrical explosion proof equipments such as hazardous area lighting UL, hazardous area cable glands, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electrical explosion proof equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electrical Explosion Proof Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electrical explosion proof equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Electrical Explosion Proof Equipment Market?

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58% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for electrical explosion proof equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The urge of major companies to cater to the demand of the rising population in the region will prompt the setting up of an increased number of plants and facilities in APAC during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 hindered the growth of the market. Besides, due to the first mandatory closure of non-essential businesses in countries such as China and India in 2020, manufacturing units were closed, and manufacturers in these countries faced the challenge of surviving amid the declining sales and revenue. The electrical explosion proof equipment industry witnessed a downturn, which, in turn, will affect the growth of the market during the forecast period. However, the electrical explosion proof equipment market is expected to witness considerable growth during the forecast period as the shocks of the pandemic will be temporary. The efforts of governments to promote economic growth through new investments will drive the growth of the market during the forecast period.

What are the Revenue-generating Application Segments in the Electrical Explosion Proof Equipment Market?

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The electrical explosion proof equipment market share growth by the industrial will be significant during the forecast period. The global electrical explosion proof equipment market by industrial applications is expected to maintain a steady growth rate during the forecast period. Growing industrial automation and the need for safety measures at workplaces will contribute to the rise in the adoption of electrical explosion proof equipment across industries.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the electrical explosion proof equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

Electrical Explosion Proof Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11.13%

Market growth 2021-2025

$ 7.68 billion

Market structure

Fragmented

YoY growth (%)

3.60

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 58%

Key consumer countries

China, US, Germany, India, and Russian Federation

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Pepperl+Fuchs SE, R&M Electrical Group Ltd., R. STAHL AG, Rockwell Automation Inc., Siemens AG, and WEG Equipamentos Eletricos SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Electrical Explosion Proof Equipment Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electrical explosion proof equipment market growth during the next five years
  • Precise estimation of the electrical explosion proof equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electrical explosion proof equipment industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electrical explosion proof equipment market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: chain analysis: Heavy electrical equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • 4.2 Bargaining power of buyers
        • Exhibit 09: Bargaining power of buyers
      • 4.3 Bargaining power of suppliers
        • Exhibit 10: Bargaining power of suppliers
      • 4.4 Threat of new entrants
        • Exhibit 11: Threat of new entrants
      • 4.5 Threat of substitutes
        • Exhibit 12: Threat of substitutes
      • 4.6 Threat of rivalry
        • Exhibit 13: Threat of rivalry
      • 4.7 Market condition
        • Exhibit 14: Market condition - Five forces 2020

      5 Market Segmentation by Application

      • 5.1 Market segments
        • Exhibit 15: Application - Market share 2020-2025 (%)
      • 5.2 Comparison by Application
        • Exhibit 16: Comparison by Application
      • 5.3 Industrial - Market size and forecast 2020-2025
        • Exhibit 17: Industrial - Market size and forecast 2020-2025 ($ million)
        • Exhibit 18: Industrial - Year-over-year growth 2020-2025 (%)
      • 5.4 Non-industrial - Market size and forecast 2020-2025
        • Exhibit 19: Non-industrial - Market size and forecast 2020-2025 ($ million)
        • Exhibit 20: Non-industrial - Year-over-year growth 2020-2025 (%)
      • 5.5 Market opportunity by Application
        • Exhibit 21: Market opportunity by Application

      6 Customer landscape

      7 Geographic Landscape

      • 7.1 Geographic segmentation
        • Exhibit 23: Market share by geography 2020-2025 (%)
      • 7.2 Geographic comparison
        • Exhibit 24: Geographic comparison
      • 7.3 APAC - Market size and forecast 2020-2025
        • Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million)
        • Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
      • 7.4 North America - Market size and forecast 2020-2025
        • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
      • 7.5 Europe - Market size and forecast 2020-2025
        • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
        • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
      • 7.6 MEA - Market size and forecast 2020-2025
        • Exhibit 31: MEA - Market size and forecast 2020-2025 ($ million)
        • Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
      • 7.7 South America - Market size and forecast 2020-2025
        • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
      • 7.8 Key leading countries
        • Exhibit 35: Key leading countries
      • 7.9 Market opportunity by geography
        • Exhibit 36: Market opportunity by geography

      8 Drivers, Challenges, and Trends

      • 8.1 Market drivers
        • 8.2 Market challenges
          • Exhibit 37: Impact of drivers and challenges
        • 8.3 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 38: Vendor landscape
            • 9.3 Landscape disruption
              • Exhibit 39: Landscape disruption
              • Exhibit 40: Industry risks

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 41: Vendors covered
            • 10.2 Market positioning of vendors
              • 10.3 ABB Ltd.
                • Exhibit 43: ABB Ltd. - Overview
                • Exhibit 44: ABB Ltd. - Business segments
                • Exhibit 45: ABB Ltd. - Key news
                • Exhibit 46: ABB Ltd. - Key offerings
                • Exhibit 47: ABB Ltd. - Segment focus
              • 10.4 Eaton Corporation Plc
                • Exhibit 48: Eaton Corporation Plc - Overview
                • Exhibit 49: Eaton Corporation Plc - Business segments
                • Exhibit 50: Eaton Corporation Plc - Key news
                • Exhibit 51: Eaton Corporation Plc - Key offerings
                • Exhibit 52: Eaton Corporation Plc - Segment focus
              • 10.5 Emerson Electric Co.
                • Exhibit 53: Emerson Electric Co. - Overview
                • Exhibit 54: Emerson Electric Co. - Business segments
                • Exhibit 55: Emerson Electric Co.- Key news
                • Exhibit 56: Emerson Electric Co. - Key offerings
                • Exhibit 57: Emerson Electric Co. - Segment focus
              • 10.6 Honeywell International Inc.
                • Exhibit 58: Honeywell International Inc. - Overview
                • Exhibit 59: Honeywell International Inc. - Business segments
                • Exhibit 60: Honeywell International Inc. - Key offerings
                • Exhibit 61: Honeywell International Inc. - Segment focus
              • 10.7 Pepperl+Fuchs SE
                • Exhibit 62: Pepperl+Fuchs SE - Overview
                • Exhibit 63: Pepperl+Fuchs SE - Product and service
                • Exhibit 64: Pepperl+Fuchs SE - Key offerings
              • 10.8 R&M Electrical Group Ltd.
                • Exhibit 65: R&M Electrical Group Ltd. - Overview
                • Exhibit 66: R&M Electrical Group Ltd. - Product and service
                • Exhibit 67: R&M Electrical Group Ltd. - Key offerings
              • 10.9 R. STAHL AG
                • Exhibit 68: R. STAHL AG - Overview
                • Exhibit 69: R. STAHL AG - Business segments
                • Exhibit 70: R. STAHL AG - Key news
                • Exhibit 71: R. STAHL AG - Key offerings
                • Exhibit 72: R. STAHL AG - Segment focus
              • 10.10 Rockwell Automation Inc.
                • Exhibit 73: Rockwell Automation Inc. - Overview
                • Exhibit 74: Rockwell Automation Inc. - Business segments
                • Exhibit 75: Rockwell Automation Inc. - Key news
                • Exhibit 76: Rockwell Automation Inc. - Key offerings
                • Exhibit 77: Rockwell Automation Inc. - Segment focus
              • 10.11 Siemens AG
                • Exhibit 78: Siemens AG - Overview
                • Exhibit 79: Siemens AG - Business segments
                • Exhibit 80: Siemens AG - Key news
                • Exhibit 81: Siemens AG - Key offerings
                • Exhibit 82: Siemens AG - Segment focus
              • 10.12 WEG Equipamentos Eletricos SA
                • Exhibit 83: WEG Equipamentos Eletricos SA - Overview
                • Exhibit 84: WEG Equipamentos Eletricos SA - Business segments
                • Exhibit 85: WEG Equipamentos Eletricos SA - Key offerings
                • Exhibit 86: WEG Equipamentos Eletricos SA - Segment focus

              11 Appendix

              • 11.1 Scope of the report
                • 11.2 Currency conversion rates for US$
                  • Exhibit 87: Currency conversion rates for US$
                • 11.3 Research methodology
                  • Exhibit 88: Research Methodology
                  • Exhibit 89: Validation techniques employed for market sizing
                  • Exhibit 90: Information sources
                • 11.4 List of abbreviations
                  • Exhibit 91: List of abbreviations

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                The electrical explosion proof equipment market growth will increase by $7682.89 million during 2021-2025.
                The electrical explosion proof equipment market is expected to grow at a CAGR of 11.13% during 2021-2025.
                Technavio has segmented the electrical explosion proof equipment market by type (Enclosures, Encapsulations, and Conduit and cable sales) ,application (Industrial and Non-industrial) , and geographic (North America, APAC, Europe, South America, and MEA).
                ABB Ltd., Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Pepperl+Fuchs SE, R&M Electrical Group Ltd., R. STAHL AG, Rockwell Automation Inc., Siemens AG, WEG Equipamentos Eletricos SA are a few of the key vendors in the electrical explosion proof equipment market.
                APAC will register the highest growth rate of 58.37% among the other regions. Therefore, the electrical explosion proof equipment market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the electrical explosion proof equipment market growth are:
                • Increasing demand for safety in industrial operations
                The electrical explosion proof equipment market vendors should focus on grabbing business opportunities from the enclosures segment as it accounted for the largest market share in the base year.
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