The global market for ex equipment is growing at a pace of 5% each year, according to IndustryARC, with Europe not only the main geographical region for explosion proof equipment, but also the centre for its manufacture.
According to the analyst, ex equipment will continue to grow worldwide by a compound rate of 5% per year until at least 2021, generating some $5.6 billion in revenue over the coming five years.
This includes products for explosion prevention, explosion proofing and also explosion segregation – protecting explosive materials against heat and sparks, minimising the size of any explosion, and isolating it from surrounding areas.
Products falling into these categories range from ex cable glands to explosion proof lighting, signalling systems for hazardous areas, surveillance systems, HVAC and materials handling.
IndustryARC say Europe emerged as the geographic leader in 2015, accounting for up to 40% of the worldwide market for explosion proof equipment.
Meanwhile, in terms of sectors, chemicals and oil & gas together account for around 40% of revenues – making them the most significant market segments in 2015.
