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Ex equipment market dominated by oil, gas and chemicals

Ex equipment market dominated by oil, gas and chemicals

This entry was posted in Ex Equipment on by .

Hazardous substances drive demand for explosion proof equipment, according to a report from IndustryARC, with the oil and gas sector accounting for 16% of market share and the chemicals business taking the second largest slice of 12%.

Together the sectors amount to more than a quarter of the total demand for Ex equipment and demonstrate the hazardous areas that can occur in the presence of flammable substances like oil and gas, as well as potentially flammable or corrosive chemicals.

Similar risks lead to relatively high demand for Ex equipment in other industries too, for example in aerospace where powerful fuels are commonly present, marine installations like oil rigs and other confined environments at sea, and mining facilities where there may be a risk of releasing hidden gases.

“As the work environments have become more challenging, it is necessary for the manufacturers to provide equally safe work environments,” the study reports.

“In industries such as oil and gas and chemicals, certain processes are carried out in areas that contain flammable gases, dust and other particles … in order to overcome such risks, hazardous area equipment is installed.”

With more and more hazardous areas to protect, the report forecasts compound annual growth of 5% from 2016 to 2021, taking the market for explosion proof equipment to $5.6 billion worldwide.

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Ex equipment market dominated by oil, gas and chemicals