Mechanical Explosion Proof Equipment Market is widely used in segments like nuclear, mining, defense, chemical due to the emission of combustible gases in these functional areas as by-products. Rising awareness of risk management is driving the market. Increased numbers of industries are adopting to playing safe and protecting their employees as well as infrastructure and resources. Damage to huge machines can cause millions of amount loss; thus manufacturers and players are taking increased care of the hazardous zones in manufacturing plants.
Explosion proof equipment basically plays a key role in controlling and preventing explosions triggered by combustible gases. Mechanical equipment such as pumps, conduits and other components form basic parts of other major equipment, and the use of these explosion proof mechanical parts is to be used in hazard prone areas to avoid the damage of equipment.
Growth Insights and Market Potential:
The Report on the Mechanical Explosion Proof Equipment Market by IndustryARC predicts the market to grow in the future. It predicts that the overall market size is estimated to cross the $5 Billion mark in 2017 and continue to increase to reach $5.41 Billion in 2020.
Regional Analysis and Other Scope:
Emerging markets in Asia Pacific and Middle East are expected to be the major contributors due to increased construction activity, manufacturing and toxic waste treatment necessities. Asia Pacific and South America are the fastest growing geographic regions with growth rates of around 12.3% and 11.1% respectively in the period 2015-2020.
The Oil and Gas Industry is a major driver for the Mechanical Explosion Proof Equipment Market and with new oil reserves found in Norway, Italy and Bolivia, the market for Explosion Proof Mechanical Equipment is bound to rise. LED Lighting manufacturers are also inclined to use explosion proof technology in the LED Lighting Systems. Other Industries that are key drivers for the Explosion Proof Equipment are Shipping and Marine.
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Segmentation Overview:
The Mechanical Explosion Proof Equipment Market is segmented in three main segments; by Classification Type, by End User Industries and by Geographic Analysis. The by Classification Type segment is divided into three more sub-segments; by Equipment Type, by Component Type and by Protection Principle. The by End User Industries include Industries like Oil & Gas Production and Refining, Mining Industry, Pharmaceuticals and others. The Geographical Analysis classification is also divided into five main regions; North America, South America, Europe, Asia-Pacific and Middle East and Africa.
Vendors Short Note:
The Key Players section in this market research report includes more than 40 players of the Global Mechanical Explosion Proof Equipment Market with few top ones being:
- WEG Industries,
- R Stahl,
- MHE Demag and
- Bartech among others.
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