Explosion Proof Motor Industry Global and Regional Analysis
Globally, market is predicted to generate massive revenue over next five years, providing numerous opportunities for market players to invest for research and development in the explosion proof motors market. The global explosion proof motor market is expected to display higher growth rate over the next five years. Rapid surge in explosion proof motors market is credited to the growing number of initiatives undertaken by local governments to promote use of energy-efficient motors. In addition, rise in number of promotional activities adopted by government as well as private manufacturers is expected to fuel the growth of the market over the forecast period. Globally, market is predicted to generate massive revenue over next five years, providing numerous opportunities for market players to invest for research and development in the explosion proof motors market.
Use of regular motors poses a serious threat, particularly when these motors are operated in industrial atmosphere containing highly flammable or combustible materials. Typically, the cause of highly flammable or combustible materials include arcs, sparks or high temperatures during functioning of a motor. Effects of such combustion rages from minor processing downtime to serious injuries to workers. Avoiding large-scale effects is a matter of choosing specific motor that can function properly in a harsh industrial atmosphere. These factors are fostering market need for explosion proof motors, in the past few years.
Factors responsible for robust growth of the market include growing demand from various end-user industries, increasing number of production lines and soaring demand for energy-efficient motors for different industrial operations. Stringent laws & regulation by regional governments are forcing end-use industries to adopt energy-efficient equipment, thus propelling market demand, in the recent years.
Growing number of energy-intensive industries is expected to generate high-end demand for energy-efficient motors over the forecast period. Furthermore, development of improved designs and formation of contemporary explosion proof encapsulation that averts the entry of vapor, duct, or gas in the motor causing explosion is anticipated to play major role in the market growth over the coming years.
The market is broadly categorized into four major segments based on the application type such as oil & gas industry, chemicals & petrochemicals sector, mining & metal industry, and energy & power generation sector. The oil & gas industry segment is growing rapidly in the explosion proof motors industry with substantial revenue generation in the last few years. Growing popularity of explosion proof motors in the oil & gas segment is attributed to the rising number of production lines and higher market penetration. The chemicals & petrochemicals segment has also witnessed substantial growth owing to the increasing occurrence of on-site explosion and growing use of highly flammable materials.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in manufacturing sector, surge in number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is estimated to hold major share in the explosion proof motors market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, increasing number of manufacturing activities, rising number of production lines, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the explosion proof motors market are ABB Group, Schneider Electric SE, Brook Crompton Holdings, General Electric Company, Rockwell Automation, Inc., Siemens AG and WEG Industries.
Firma: Million Insights
Ansprechpartner: Tom Clark
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