Cable Glands Segment to Dominate Europe Explosion Proof Equipment Market during 2020–2028
According to The Insight Partners market research study on “Europe Explosion Proof Equipment Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by System, Protection Method, and Industry” is expected to reach US$ 4,266.01 million by 2028 from 2,960.34 US$ million in 2021. The market is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report provides trends prevailing in the Europe explosion proof equipment market along with the drivers and restraints pertaining to the market growth. Rising demand of explosion proof LED lights is the major factor driving the growth of the Europe explosion proof equipment market. However, issues associated complexities involved in installation of explosion proof equipment hinders the growth of Europe explosion proof equipment market.
Europe explosion proof equipment market is segmented into system, protection method, industry and country. Based on system, the Europe explosion proof equipment market is sub segmented into junction boxes & enclosures, lighting system, monitoring system, signaling devices, automation system, cable glands, HVAC systems, and others. In 2021, the cable glands segment led the market and accounted for the largest market share. Based on protection method, the Europe explosion proof equipment market is further segmented into explosion prevention, explosion containment, and explosion segregation. In 2021, the explosion prevention segment led the market and accounted for the largest market share. Based on industry, the Europe explosion proof equipment market is sub segmented into pharmaceutical, mining, oil & gas, manufacturing, food processing, energy & power, chemical & petrochemical, and others. In 2021, the oil & gas segment led the market and accounted for the largest market share. Based on country, the Europe explosion proof equipment market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. Germany held the largest market share in 2021.
ABB Ltd, BARTEC Group, Cortem S.p.A., Eaton Corporation plc, Emerson Electric Co., Extronics Ltd, Hubbell Incorporated, R. STAHL AG, Rockwell Automation, Inc., and Siemens AG are among the leading companies in the Europe explosion proof equipment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, ABB Ltd has launched flameproof low voltage motors for applications in potentially explosive environments. The flameproof low voltage motors offer considerable benefits including low vibration levels with increased reliability for an extended lifetime and reduced maintenance requirements for a lower cost of ownership.
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