Explosion-proof Lighting Market estimated to be worth USD 471 Million by 2026 - PowerPoint PPT Presentation

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Explosion-proof Lighting Market estimated to be worth USD 471 Million by 2026


Explosion-proof Lighting Market with COVID-19 impact analysis by Type (High Bay & Low Bay, Linear, Flood), Light Source (LED, Fluorescent), Safety Rating, Hazardous Location, End-user Industry, and Region – Global Forecast to 2026 – PowerPoint PPT presentation

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Title: Explosion-proof Lighting Market estimated to be worth USD 471 Million by 2026

MarketsandMarkets Presents
The Explosion-proof Lighting Market is estimated
to be USD 471 million by 2026 (forecast year)
from USD 340 million in 2021 (estimated year), at
a CAGR of 6.7 between 2021 to 2026. Factors
attributing to the growth of the market include
increasing investments in the oil gas and
chemical pharmaceutical industries for
infrastructure development and project expansion
plans, growing focus of governments towards
energy conservation, rapid transition from
traditional light systems to connected lighting
solutions, and surging adoption of LED based
explosion-proof light fixtures owing to several
advantages over conventional light sources.
MarketsandMarkets Presents
Globally, every process industrysuch as oil
gas, chemical pharmaceutical, mining, energy
power, and food beverageis required to follow
safety measures formulated by the 1996 National
Electrical Code, the European Committee for
Electrotechnical Standardization (CENELEC), and
the Increased Safety Ex e, along with various
other certifications for products used in
hazardous environments. These measures are
followed by installing effective and efficient
explosion-proof lighting products that maintain
safety standards and allow smooth functioning of
processes in the above-mentioned industries. Get
PDF Sample _at_ https//www.marketsandmarkets.com/pdf
MarketsandMarkets Presents
LED Lights to dominate the Explosion-Proof
Lighting Market, by Light Source LEDs are the
most energy-efficient lighting options and can be
used to drastically reduce the overall operating
cost in industrial facilities. They are 45x
times cheaper as compared to fluorescent lamps
while considering the total cost of ownership.
Additionally, LEDs are not as sensitive to
temperature as other lighting technologies and
therefore can be easily operated in extreme hot
and cold environments. Furthermore, the
increasing number of industrial facilities is
expected to influence the penetration of LEDs for
Explosion-Proof Lighting Application.
MarketsandMarkets Presents
Explosion-Proof Lighting Market for Chemical
Pharmaceutical industry estimated to be the
fastest growing segment, by End-User Industry
during the forecast period The Chemical
Pharmaceutical Industry in emerging economies
such as India and China are growing rapidly and
attracting high investments. For instance,
according to an article published by Business
Standard, the pharmaceutical industry in India
attracted investments of approximately USD 1.7
billion in the year 2020 and is expected to grow
faster in the years to come. Moreover, according
to Invest India, the chemical petrochemical
industry in India is expected to grow to USD 300
Billion by 2025. All these factors are expected
to strengthen the growth momentum of
Explosion-Proof Lighting in the Chemical
Pharmaceutical Industry.
MarketsandMarkets Presents
North America is projected to hold the largest
share of Explosion-Proof Lighting Market in
2026 North America has emerged as the worlds most
promising market for Explosion-Proof Lighting.
The region is witnessing increasing investments
in the oil gas industry, with a number of
projects lined up during the forecast period. The
Alaska LNG project in Alaska and the Corpus
Christi LNG project in Texas are expected to have
investments of approximately USD 45 billion and
USD 24.5 billion, respectively. The Corpus
Christi LNG project is expected to start its
operations in 2022, and the Alaska LNG project in
2025. Oil gas is the major end-user industry of
explosion-proof lighting since any damage to
assets due to explosion can lead to a high
financial loss. This has triggered the
installation of robust Explosion-Proof Lighting
across the region.
MarketsandMarkets Presents
Key Players The report profiles key players,
including Eaton (Ireland), ABB (Switzerland),
Hubbell (US), Emerson (US), Signify
(Netherlands), GE Current (US), Glamox (Norway),
Phoenix Lighting (US), R. STAHL (Germany), and
Larson Electronics (US). These companies focus on
adopting both organic and inorganic growth
strategies, such as product launches and
developments, contracts, and acquisitions to
strengthen their position in the market. Browse
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