According to the research report titled ‘Global Explosion Proof Equipment Market Production Method study by Industry Vertical (Pharmaceutical, Manufacturing, Marine, Mining, Food processing, Oil & gas and Others), by Application System (Cable Glands, Junction boxes & enclosure, Lifting & Material handling, Lighting system, Automation system, Surveillance & Monitoring system, Signaling Devices and Others) by Production Method (Explosion Containment, Explosion Prevention and Explosion segregation) and Regional Forecasts 2020-2027’, global explosion proof equipment market had reached a valuation of USD 6.99 billion and is expected to grow with a CAGR of 5.90% between 2020 and 2027.
 

Increasing awareness pertaining to benefits of the product coupled with high occurrence of operational hazards in mining and mineral industries are major factors driving the growth of global explosion proof equipment market.
 

For those uninitiated, explosion proof equipment plays important role in explosive atmospheres applications such as gases and fumes that can easily catch fire during mineral extraction or other industrial processes. In this context, rapid expansion of mining industries has impelled the demand for explosion proof equipment, which in turn is stimulating the industry outlook.
 

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According to World Mining Congresses, China is the largest miner across the globe and had excavated around 4.1 billion metric tons of iron, fossil fuels, and non-ferrous metals in the year 2018. China is followed by the U.S. and Russia which had extracted over 2175.7 and 1658.6 million metric tons of minerals respectively in the same year.
 

Likewise, the MAC (Mining Associating of Canada) claims that the mining industry contributed to around USD 97 billion or 5% of the country’s total GDP in the year 2018. Thus, increasing mining activities are propelling the expansion of global explosion proof equipment industry size.
 

Strict regulatory scenario which promotes safe working environment is also stimulating the industry outlook. However, wireless explosion proof equipment can act as a ignition source in harsh environmental conditions, which in turn could hamper the remuneration scale of worldwide explosion proof equipment market.
 

Regionally, North America currently dominates global explosion proof equipment industry in terms of revenue share and is likely to showcase similar growth pattens in the upcoming period, primarily due to strict federal reforms which encourage the use of the product.
 

Meanwhile, Asia-Pacific explosion proof equipment industry is set to record highest CAGR through 2027. Factors such as flourishing oil & gas, food & beverage, and chemicals & pharmaceuticals sector are favoring the regional market outlook.
 

WERMA Signaltechnik GmbH + Co. KG, NHP Electrical Engineering Products, E2S Warning Signals, Patlite Corporation, Emerson Electric Co., Eaton Corporation, Rockwell Automation, Inc., ABB Ltd., Honeywell International Inc., and Siemens AG are the prominent companies operating in global explosion proof equipment market.