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Explosion Protection Equipment Market in UK to Reach $112.5 Mn by 2026 at 4.5% CAGR: Allied Market Research

Rise in demand for location lighting, strict government regulations, and the growth of pharmaceutical and food & beverage industries fuel the growth of the UK explosion protection equipment market

PORTLAND, Oregon, Oct. 28, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "UK Explosion Protection Equipment Market by Industry Vertical (Pharmaceutical, Manufacturing, Marine, Food Processing, Oil & Gas, Mining, and Others), Applicable System (Cable Gland, Junction Box, Lighting System, Lifting & Material Handling System, Automation System, Surveillance & Monitoring System, Signaling System, and Others), and Protection Method (Explosion Prevention, Explosion Containment, and Explosion Segregation): Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the UK explosion protection equipment industry generated $78.4 million in 2018, and is expected to reach $112.5 million by 2026, registering a CAGR of 4.5% from 2019 to 2026.

Allied_Market_Research

Drivers, restraints, and opportunities

Rise in demand for location lighting, strict government regulations, and the growth of pharmaceutical and food & beverage industries fuel the growth of the UK explosion protection equipment market. However, slow economic activity after Brexit and staggering of mining industries in the UK hinder the market growth. On the other hand, focus on explosion proof equipment for aerospace and defense industries present new opportunities in the market.

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The oil & gas segment to maintain its dominant share during the forecast period

Based on industry verticals, the oil & gas segment held the largest share in the UK explosion protection equipment market in 2018, contributing to nearly one-fourth of the total share, and is projected to maintain its dominant share during the forecast period. This is due to increase in adoption of explosion-proof enclosures and their ability to protect electrical equipment and prevent sparks that set flammable substances on fire. On the other hand, the food processing segment is expected to grow at the fastest CAGR of 5.6% from 2019 to 2026, owing to the expansion of food industry and rise in urbanization.

The automation system segment to maintain its lead position by 2026

Based on applicable system, the automation system segment held nearly one-fifth of the total market share in terms of revenue of the UK explosion protection equipment market in 2018, and will maintain its lead position by 2026. This is due to surge in adoption of explosion proof cable glands in oil refineries owing to stringent regulations. However, the cable glands segment is expected to grow at the highest CAGR of 6.1% from 2019 to 2026, owing to growth in the paint, chemical, and textile industries in the UK.

The explosion segregation segment to maintain its leadership status during the forecast period

Based on protection method, the explosion segregation segment accounted for the highest market share, accounting for more than two-fifths of the UK explosion protection equipment market in 2018, and will maintain its leadership status during the forecast period. This is attributed to rise in demand in for explosion segregation equipment in refining plants, plastic manufacturing, and oil & gas industries for taking preventive measures against explosive substances. On the other hand, the explosion prevention segment would register the highest CAGR of 5.0% from 2019 to 2026. This is due to the adoption of spark-resistant relays, fuses, and other equipment for preventing of explosion in critical areas.

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Leading market players

  • ABB Group
  • Adalet
  • Bartec GmbH
  • Eaton Corporation Inc.
  • Emerson Electric Co.
  • Extronics Ltd.
  • Pepperl+Fuchs GmbH
  • R. Stahl Aktiengesellschaft
  • Rockwell Automation, Inc.,
  • Siemens AG

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:
Explosion Proof Cable Glands Market Projected to Reach $269.4 Million by 2024

Explosion Proof Equipment Market to Reach $8,217 Million, Globally, by 2022

Explosive Detector Market Expected to Reach $8,208 Million, Globally, by 2023

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
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+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
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© 2019 PR Newswire
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