The Explosion Proof Lighting Market Size Poised to Touch $606.1 Million by 2027 to grow at 12.3% CAGR during (2019-2027) Driven by European Region at 9.5% CAGR.
PUNE, MAHARASHTRA, INDIA, January 24, 2020 /EINPresswire.com/ — The research thoroughly establishes critical Explosion Proof Lighting Market drivers, well-identified restraints, future opportunities, and ongoing trends of the market with essential statistics to provide precise data in terms of value and volume. Besides, the report highlights the potential opportunities for the market players and future trends of the market by a logical and calculative study of the past and current market scenario.
Europe is leading the explosion proof lighting market with a CAGR of 9.5%. The classification and certification for hazardous locations equipment in Europe are described under ATEX (ATmospheres EXplosibles) Directive, which is derived from standardizations established by CENELEC as well as the European Committee for Electrotechnical Standardization.
The market report highlights top ten companies operation strategy in the market through a descriptive SWOT analysis of each company, business overview, products and services, financial statements of last three years, and key developments and product launches by the company in recent years. The report actively includes informative aspects relating to product developments, launches, and trends, to assist Explosion Proof Lighting Market players, shareholders, and investors in strategic decision making.
The Key Players in the Explosion Proof Lighting Market include:
• NORKA Lighting
• Nuova ASP
• OSRAM Licht AG
• Phoenix Products LLC
• R. STAHL AG
• Rockwell Automation, Inc.
• Shenzhen Lighting Inc.
• Signify Holding
• Technor Italsmea SpA (MARECHAL ELECTRIC)
• TEP Ex
• TREVOS, a.s.
• Unimar Inc.
• VYRTYCH, a.s.
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The major industries in the European region include ferrous and non-ferrous metal production and processing, petroleum, coal, chemicals, cement, pharmaceuticals, aerospace, passenger and commercial vehicles, rail transportation equipment, industrial equipment, construction equipment, shipbuilding, electronics and telecommunications equipment, electrical power equipment, F&B, paper and textiles. Also, APAC is expected to witness the highest CAGR growth in the explosion proof lighting market during the forecast period.
Explosion Proof Lighting Market Strategic Insights and Market Developments:
In the highly competitive explosion proof lighting market, international expansion complicates this task by necessitating manufacturers to identify and comprehend global certification requirements along with applying them to their innovations. For efficiently compete in the explosion proof lighting market, manufacturers require to mitigate risks, innovate safely, and enter global markets. Certain countries of the world may only need a local certification mark for explosion proof lighting; however, other countries of the world may use harmonized certification systems such as the IECEx Systems and ATEX Directive. Few of the recent developments are listed below:
2019: Emerson announced its next-generation Appleton Areamaster LED is certified by the ATEX and the IECEx for Zone 1 encapsulation. The Appleton Areamaster Generation 2 Zone 1 LED is available in six-lumen outputs providing up to 36,000 lumens or the equivalence of 175W to 1500W HID luminaires, yet use 80 percent less energy.
2018: Abtech launched ExLED; a GRP linear LED fully certified, which is designed as a replacement for traditional 36W and 58W fluorescent luminaires, the ExLED is a superior quality LED linear for use in Zone 2 & 22 hazardous areas.
2018: Adolf Schuch GmbH launched Small LED-Light Fittings for hazardous areas in zones 1/21, the most common area for explosive atmospheres. E856 series is an emergency light fitting with an in-built battery that can also be used with a pictogram as a sign or escape light.
The Explosion Proof Lighting Market study also includes the key drivers expected to boost the market growth and restraining factors along with future opportunities during the forecast. The Explosion Proof Lighting Market is likely to showcase symbolic growth opportunities owing to growing demands for Explosion Proof Lighting across the globe.
The equipment approved for use in a hazardous area is regulated by several certifying agencies. For instance, in North America, usually, UL (Underwriters Laboratories) and FM (Factory Mutual) provide standards, testing and certification in the country although CSA (the Canadian Standard Association) provides the same in Canada. Recently, FM, UL, and CSA have all implemented programs enabling certifications to be valid in both countries. The increasing government regulations for worker safety is the key factor propelling the explosion proof lighting market growth.
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The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. It also provides the overview and forecast for the global Explosion Proof Lighting market based on all the segmentation provided with respect to five major reasons.
The primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in this industry.
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Source: EIN Presswire