Ex equipment protects not only the safety of human workers in hazardous areas, but also the finances of the operating company, a newly published market research report notes.

Explosion Proof Equipment Market: Global Industry Analysis and Opportunity Assessment 2016-2026 from Future Market Insights highlights the dual benefits of ex equipment for hazardous areas.

“Today explosion proof equipment is used in almost all industries for the protection of finances as well as lives,” the report states.

Like other recent reports, the study identifies several major markets for the coming years, including increased adoption of ex equipment in oil and gas industries, new mining exploration, and rising demand for automation applications.

It adds that stiffer safety regulations are also leading to greater uptake of ex equipment for hazardous areas in all sectors and industries as companies comply with newly introduced legislation.

The report breaks ex equipment down into individual types of equipment, for example ex cable glands, switchgear, surveillance systems, material handling, lifting systems, and power generation and distribution.

It also points out the different purposes of explosion proof equipment, from devices that prevent ignition, to enclosures designed to contain a blast if one occurs.