Explosion Proof Equipment Market: Future Opportunities, Demand Analysis and Outlook To 2027
In 2018, Europe is accounted for the largest share in the explosion proof equipment market and the APAC region is expected to be the fastest growing region in the explosion proof equipment market. The demand for explosion proof equipment is anticipated to be robust, pertaining to rise in the number of hazardous locations. These equipment ensures better productivity and increased safety.
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In the recent few years, explosion proof equipment market has noticed noteworthy M&A and partnership activity. Some of the significant deals include, in 2017 Hubbell Inc. has completed the acquisition of iDevices of Avon. The acquisition would help the Hubbell to strengthen its way to in the field of innovation with the expertise of iDevices in Internet of Things.
Another initiative in respect to contractual alliance, is undertaken by Cortem Group consolidated its presence in Saudi territory by signing an exclusive contract with SPF, Safety and Protection Factory. This new exclusive contract signed with the SPF company for the assembly, production and distribution in Saudi Arabia and new management in charge for the Sister Company in Dubai supports Cortem Group to strengthen its presence in Middle East in 2018.
Merger and acquisition are expected to be the key growth strategy to be adopted by players for the next two-three years. However, this strategy could impact competition; it is also expected to generate new market as well as product opportunities as recently combined companies will thrive to maintain position and profitability.
Some of the key players operating in the explosion proof equipment market are
- ABB Ltd.
- BARTEC GmbH
- CORTEM S.P.A
- EATON Corporation
- Extronics Ltd.
- Emerson Electric Co.
- Hubbell Inc.
- Rockwell Automation, Inc.
- R.STAHL AG
- Siemens AG