Explosion Proof Lighting Market Market Outlook - 2030
The global explosion proof lighting market is experiencing a significant growth and is expected to grow considerably in the next few years. Intrinsically safe lights and hazardous location lights are two terms used to describe explosion proof lighting. Explosion proof lightening is designed to provide ample illumination while isolating sparks within the unit to prevent explosions from escaping in the hazardous workplace.
It also reduces the risk of an explosive reaction spreading or igniting volatile substances in the area during an explosive reaction. LED lighting, high-intensity discharge (HID) lighting, and fluorescent lighting are the light sources used in this explosion proof lighting.
The global explosion proof lighting market is segmented on the basis of type, light type, industry vertical, and region. Based on type, the market is divided into general lighting, floodlights, compact lights, others. In terms of light type, the market is categorized into led light, fluorescent light, incandescent light, and HID light. On the basis of industry vertical, the market is divided into oil & gas, chemical & pharmaceutical, food & beverage, mining, energy & power, others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global explosion proof lighting industry include AtomSvet LLC, Cortem S.p.A., Eaton Corporation Plc., Emerson Electric Co., General Electric, Glamox AS, Hubbell Inc., Larson Electronics LLC, LDPI Inc., and NORKA Lighting. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global explosion proof lighting market.
COVID-19 Scenario Analysis
The worldwide quarantine imposed in response to the COVID-19 outbreak has resulted in an economic catastrophe that has thrown practically every business into disarray. End-user sectors such as oil & gas, chemical & pharmaceutical, food & beverage, mining, energy & power, and others use explosion-proof lighting equipment supplied by firms. COVID-19 had an impact not only on the operations of explosion proof lighting market players, but also on the operations of businesses.
Governments throughout the world have reduced expenditure in a variety of areas to focus more on upgrading healthcare infrastructure; as a result, demand for explosion-proof lighting products and solutions from national oil & gas projects is likely to decline. In addition, because industrial facilities in most regions of the world will be operating at reduced capacity in 2021, industrial facilities may face a delay in modernizing their lighting infrastructure. All of these reasons are projected to have a detrimental influence on the market for explosion-proof lighting.
The COVID-19 outbreak and subsequent lockdown have resulted in the closure of activities, as well as e-commerce and retail stores, putting supply chains at risk and widening the gap between demand and supply. In response of COVID-19's long-term implications, governments are attempting to address the problem by enacting beneficial initiatives and policies such as financial packages, lower interest rates, and tax exemptions. Despite the world's efforts to find a COVID-19 breakthrough, the explosion proof lighting market is expected to rebound to a great level during the forecast period.
Top Impacting Factors
Stringent regulations pertaining to worker safety in remote and dangerous locations, improved safety and productivity in harsh and hazardous areas, and rise in number of offshore oil & gas stations drive the growth of the explosion proof lighting market. Furthermore, increased demand from expanding end-use industries in emerging nations, such as chemicals, oil & gas, marine, mining, food & beverages, industrial, military bases, airports, and other sectors, propels the worldwide explosion proof lighting market forward.
The presence of combustible compounds is common in the chemical and pharmaceutical industries, and any reaction of the substances with sparks within the luminaire could result in an explosion. As a result, the sector employs lights with thick glass coverings and an explosion-proof housing. Furthermore, the industry in emerging nations like India and China is quickly expanding and garnering significant investment.
During the projected period, however, continued progress in wireless explosion proof lighting and integration of LEDs in wireless data transfer is likely to generate significant potential prospects. On the other hand, raw material price instability, expensive implementation and equipment costs, and a lack of industry standardization are stifling its market expansion.
Rapid Growth in the Demand of LED Light
The systems are a suitable choice for difficult and hazardous applications because to their low maintenance costs, energy efficiency, and low cost in contrast to their conventional counterparts. During the projection period, key producers of explosion proof lighting are likely to surge the demand for LED expulsion proof lighting by creating wireless control platforms for LEDs. Governments around the world are increasingly focusing on energy saving, which is fueling market growth.
Governments in Thailand, China, Brazil, and the U.S. have enacted strict rules requiring the use of LEDs in lighting applications. Manufacturers of thrusting fixtures are likewise required to meet minimum lighting efficiency criteria under these laws. As a result, there is a strong demand for explosion-proof LED light fixtures, which contributes toward high market growth.
Increase in Demand of Oil & Gas Sector
As the oil & gas industry's atmosphere is prone to explosives, lighting solutions used in this environment must be explosive-resistant and include the necessary built-in safety features. During the projected period, ongoing industrial innovations are expected to boost demand for explosion-proof light fixtures. For example, a big number of businesses are concentrating their efforts on the development and production of oil & gas assets all over the world.
Oil & gas have stringent requirements, including extremely high levels of illuminance, contrast, and color rendition. In addition, the oil & gas industry's requirement for explosion proof lighting in processing facilities, drilling rigs, offshore platforms, and petroleum refineries is likely to boost the demand for explosion proof lighting during the projection period.
Key Benefits of the Report
- This study presents the analytical depiction of the global explosion proof lighting market share along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, and restraints, along with detailed analysis of the explosion proof lighting market trends.
- The current market is quantitatively analyzed to highlight the explosion proof lighting market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed explosion proof lighting market analysis based on competitive intensity and how the competition will take shape in coming years.
- The report contains explosion proof lighting market forecast considering 2020 as a base year.
- The report presents information on the explosion proof lighting market opportunities to track potential regions and country.
- The explosion proof lighting market outlooks the future scope and estimates the percentage growth.
Questions Answered in the Explosion Proof Lighting Market Market Research Report
- What are the leading market players active in the explosion proof lighting market size?
- What the current trends will influence the explosion proof lighting market in the next few years?
- What are the driving factors, restraints, and opportunities in the explosion proof lighting market?
- What are the projections for the future that would help in taking further strategic steps?
Explosion Proof Lighting Market Report Highlights
| Aspects | Details |
 By Type |
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 By Light Type |
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 By Industry Vertical |
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 By Geography |
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 Key Market Players | Emerson Electric Co., Eaton Corporation Plc., NORKA Lighting., General Electric, Larson Electronics LLC, Hubbell Inc., AtomSvet LLC, Glamox AS, LDPI Inc.,, Cortem S.p.A. |
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