Electrical explosion-proof equipment market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 11, 2023 /PRNewswire/ -- According to Technavio, the global electrical explosion-proof equipment market size is estimated to grow by USD 9,607.98 million from 2022 to 2027. The market is estimated to grow at a CAGR of 12.28% during the forecast period. Moreover, the growth momentum will progress. APAC will account for 57% of the growth of the global market during the forecast period. 

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Global electrical explosion-proof equipment market - Five forces
The global electrical explosion-proof equipment market is fragmented, and the five forces analysis covers – 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes

For an interpretation of Porter's five forces model – buy the report!

Global electrical explosion-proof equipment market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global electrical explosion-proof equipment market - Segmentation assessment

Segment overview
Technavio has segmented the market based on application (industrial and non-industrial) and type (flame-proof type, increased safety type, intrinsic safety type, positive-pressure type, and others). 

• The industrial segment will grow at a significant rate during the forecast period. The adoption of electrical explosion-proof equipment across various industries is expected to increase, with the growth of industrial automation and the need for safety measures at workplaces. The rising adoption of industrial automation in the power, electronics, and automotive industries will drive the growth of this segment during the forecast period.

Geography overview
Based on geography, the global electrical explosion-proof equipment market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electrical explosion-proof equipment market.

• APAC is estimated to account for 57% of the growth of the global market during the forecast period. APAC is densely populated, which has increased the demand for automobiles. The growth of the automotive industry is expected to increase the adoption of industrial automation, which will require safety devices. This necessity, in turn, is expected to drive the growth of the electrical explosion-proof equipment market in the region during the forecast period.

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Global electrical explosion-proof equipment market – Market dynamics
Key factor driving market growth

• The increasing demand for safety in industrial operations is driving the growth of the market. 
• Industries are taking steps to improve process safety and work efficiency. Hence, there is a need to focus on occupational safety.
• With Industry 4.0 and the Internet of Things, the introduction of new machines has increased, which are highly expensive and need to be protected.
• These factors will drive the growth of the market in the region.

Leading trends influencing the market 

• The rising focus on explosion prevention is a trend in the market. 
• The need to improve the safety of industrial areas has increased the adoption of explosion protection devices. 
• The electronics industry uses explosion-proof equipment to protect expensive equipment and reduce downtime on job sites, as electrical explosions can cause sparks or arc flashes. 
• Therefore, industries are focusing on adopting ways to prevent explosions, which is expected to boost the growth of the global electrical explosion-proof equipment market during the forecast period.

Major challenges hindering market growth

• Fluctuating prices of raw materials challenging the electrical explosion-proof equipment market growth. 
• Enclosures, encapsulations, and conduit and cable seals require materials such as iron, aluminum, and steel for production. However, the prices of these raw materials vary throughout the year due to price wars between raw material suppliers or changes in the suppliers' export and import regulations.
• To solve the challenges caused by price volatility, manufacturers are looking for long-term alliances with raw material suppliers. However, many small producers cannot afford such contracts.
• These factors will hinder the growth of the global market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this electrical explosion-proof equipment market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electrical explosion-proof equipment market between 2022 and 2027
• Precise estimation of the size of the electrical explosion-proof equipment market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the electrical explosion-proof equipment market across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electrical explosion-proof equipment market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electrical explosion proof equipment market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global electrical explosion proof equipment market 2017 - 2021 ($ million)

• 4.2 By Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – By Application Segment 2017 - 2021 ($ million)

• 4.3 By Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – By Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Industrial - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

• 6.4 Non-industrial - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Non-industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Non-industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Non-industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Non-industrial - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Flame-proof type - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Flame-proof type - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Flame-proof type - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Flame-proof type - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Flame-proof type - Year-over-year growth 2022-2027 (%)

• 7.4 Increased safety type - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Increased safety type - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Increased safety type - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Increased safety type - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Increased safety type - Year-over-year growth 2022-2027 (%)

• 7.5 Intrinsic safety type - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Intrinsic safety type - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Intrinsic safety type - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Intrinsic safety type - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Intrinsic safety type - Year-over-year growth 2022-2027 (%)

• 7.6 Positive-pressure type - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Positive-pressure type - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Positive-pressure type - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Positive-pressure type - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Positive-pressure type - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 67: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027 
• Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 Russia - Market size and forecast 2022-2027 
• Exhibit 109: Chart on Russia - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Russia - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Russia - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Russia - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 ABB Ltd.
• Exhibit 120: ABB Ltd. - Overview
• Exhibit 121: ABB Ltd. - Business segments
• Exhibit 122: ABB Ltd. - Key news
• Exhibit 123: ABB Ltd. - Key offerings
• Exhibit 124: ABB Ltd. - Segment focus

• 12.4 Atexxo Manufacturing BV 
• Exhibit 125: Atexxo Manufacturing BV - Overview
• Exhibit 126: Atexxo Manufacturing BV - Product / Service
• Exhibit 127: Atexxo Manufacturing BV - Key offerings

• 12.5 BARTEC Top Holding GmbH 
• Exhibit 128: BARTEC Top Holding GmbH - Overview
• Exhibit 129: BARTEC Top Holding GmbH - Product / Service
• Exhibit 130: BARTEC Top Holding GmbH - Key offerings

• 12.6 Eaton Corp. Plc
• Exhibit 131: Eaton Corp. Plc - Overview
• Exhibit 132: Eaton Corp. Plc - Business segments
• Exhibit 133: Eaton Corp. Plc - Key news
• Exhibit 134: Eaton Corp. Plc - Key offerings
• Exhibit 135: Eaton Corp. Plc - Segment focus

• 12.7 Emerson Electric Co
• Exhibit 136: Emerson Electric Co - Overview
• Exhibit 137: Emerson Electric Co - Business segments
• Exhibit 138: Emerson Electric Co - Key news
• Exhibit 139: Emerson Electric Co - Key offerings
• Exhibit 140: Emerson Electric Co - Segment focus

• 12.8 Extronics Ltd.
• Exhibit 141: Extronics Ltd. - Overview
• Exhibit 142: Extronics Ltd. - Product / Service
• Exhibit 143: Extronics Ltd. - Key offerings

• 12.9 Honeywell International Inc. 
• Exhibit 144: Honeywell International Inc. - Overview
• Exhibit 145: Honeywell International Inc. - Business segments
• Exhibit 146: Honeywell International Inc. - Key news
• Exhibit 147: Honeywell International Inc. - Key offerings
• Exhibit 148: Honeywell International Inc. - Segment focus

• 12.10 Miretti Srl
• Exhibit 149: Miretti Srl - Overview
• Exhibit 150: Miretti Srl - Product / Service
• Exhibit 151: Miretti Srl - Key offerings

• 12.11 Patlite Corp.
• Exhibit 152: Patlite Corp. - Overview
• Exhibit 153: Patlite Corp. - Product / Service
• Exhibit 154: Patlite Corp. - Key offerings

• 12.12 Pepperl and Fuchs SE
• Exhibit 155: Pepperl and Fuchs SE - Overview
• Exhibit 156: Pepperl and Fuchs SE - Product / Service
• Exhibit 157: Pepperl and Fuchs SE - Key offerings

• 12.13 R Electrical Group Ltd. 
• Exhibit 158: R Electrical Group Ltd. - Overview
• Exhibit 159: R Electrical Group Ltd. - Product / Service
• Exhibit 160: R Electrical Group Ltd. - Key offerings

• 12.14 R Stahl AG
• Exhibit 161: R Stahl AG - Overview
• Exhibit 162: R Stahl AG - Product / Service
• Exhibit 163: R Stahl AG - Key offerings

• 12.15 Rockwell Automation Inc. 
• Exhibit 164: Rockwell Automation Inc. - Overview
• Exhibit 165: Rockwell Automation Inc. - Business segments
• Exhibit 166: Rockwell Automation Inc. - Key news
• Exhibit 167: Rockwell Automation Inc. - Key offerings
• Exhibit 168: Rockwell Automation Inc. - Segment focus

• 12.16 Siemens AG
• Exhibit 169: Siemens AG - Overview
• Exhibit 170: Siemens AG - Business segments
• Exhibit 171: Siemens AG - Key news
• Exhibit 172: Siemens AG - Key offerings
• Exhibit 173: Siemens AG - Segment focus

• 12.17 WEG SA
• Exhibit 174: WEG SA - Overview
• Exhibit 175: WEG SA - Business segments
• Exhibit 176: WEG SA - Key offerings
• Exhibit 177: WEG SA - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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