The Global Explosion-proof Equipment market is valued at USD 4.46 billion in 2016 and is expected to reach a value of USD 7.16 billion by the end of 2022 , growing at a projected CAGR of 8.23 % during the forecast period of 2017 – 2022 . In the wake of increasing industrial accidents and explosions in mines , regulatory bodies , such as OSHA and others , are initiating the implementation of stricter regulations to ensure worker safety and to also prevent damage to the atmosphere . The new discovery of oil and shale reserves in countries such as Brazil and Greenland , and huge investments in the U . S . towards shale gas exploration are expected to drive the market for explosion-proof equipment even further .
Request for Sample Copy of Global Explosion-Proof Equipment Market Report @ http :// www . orbisresearch . com / contacts / request-sample / 223740
Preservation of the environment is a high priority concern and the governments are cognizant of this issue . This has resulted in the implementation of government regulations particularly in the oil and gas exploration industry . Although the major markets for explosion-proof equipment are the mining and oil & gas industries , they have also found applications in fields like aerospace , construction and other industries . Asia-Pacific and Latin America are expected to be high-growth regions with increasing industrialization and exploration of natural resources .
Explosion protection equipment are used in a wide range of industry verticals to protect devices and products from various hazardous environments . Explosion-proof products are capable of containing an explosion . The term ‘ explosion proof ’ does not indicate that the product is capable of withstanding an internal explosion without allowing flames or hot gases to escape to trigger an explosion in the surrounding atmosphere .
Browse The Complete Report @ http :// www . orbisresearch . com / reports / index / globalexplosion-proof-equipment-market-2017-2022
The term explosion-proof is assigned to those only products , which are certified by national rating agencies , such as Factory Mutual or Underwriters Laboratories after meeting their specifications and passing their tests . Unless certified by one of these agencies , the product does not meet the explosion-proof requirements of the National Electrical Code . The global explosion-proof equipment market has been segmented on the basis of type of substances ( class I , class II , class III ), type of explosion-proof equipment ( flameproof , pressurized , increased safety , intrinsic safety , oil-immersed , others ), hazardous zone classification ( zone 0 , zone 20 , zone 1 , zone 21 , zone 2 ), type of systems ( power supply systems , material handling , motors ,
2