Explosion Proof Equipment Market Worth $9.9 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 22, 2020 /PRNewswire/ -- According to the new market research report on the "Explosion Proof Equipment Market by Product (Cable Glands & Accessories, Industrial Controls, Process Instruments, Sensors, and Signaling Devices), Connectivity Service, Zone Classification, Industry, and Geography – Global Forecast to 2025", published by MarketsandMarkets™, the Explosion Proof Equipment Market size is projected to grow from USD 7.4 billion in 2020 to USD 9.9 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. Factors such as the increasing industrial safety measures and rising energy requirements are driving the explosion proof equipment market.
Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=108397700
"The oil & gas industry holds the largest share of the explosion proof equipment market in 2019."
The oil & gas industry accounted for the largest share of the explosion proof equipment market in 2019 and is expected to grow at a high growth rate during the forecast period. The demand for explosion proof equipment in this industry is high due to its flammable and challenging environmental conditions. These equipment are used across applications such as exploration, drilling, gas lifting/injection, oil & gas pipelines, storage handling, and gas and refinery process.
"The market for wireless connectivity services is projected to grow at a high growth rate during the forecast period."
The market for wireless connectivity services is projected to grow at a high growth rate during the forecast period. The growth of the segment can be attributed to its lower installation cost, requirement for cable-free operations, and reduction in space occupied and weight. Wireless devices can minimize the number of devices installed, such as cabling and other installation equipment leading to low installation expenditure and low labor costs.
Browse in-depth TOC on "Explosion Proof Equipment Market"
101 – Tables
33 – Figures
164 – Pages
Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=108397700
The major players in the Explosion proof equipment market are Siemens (Germany), Honeywell International, Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), and Eaton Corporation Plc (Ireland).
Related Reports:
Signaling Devices Market (Audible & Visual) for Hazardous and Safe Areas, by Product (Strobe Beacons, Lighting and Fire Alarms/Call Points), Connectivity Service (Wired & Wireless), Industry, & Geography - Global Forecast to 2022
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/explosion-proof-equipment-market.asp
Content Source : https://www.marketsandmarkets.com/PressReleases/explosion-proof-equipment.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article