The global explosion-proof lighting market is anticipated to grow at a CAGR of around 6.7% during the forecast period (2024-2031). The global explosion-proof lighting market is driven by the factors such as growing industrialization across the globe, stringent government regulation towards the installation of explosion-proof lighting in hazardous environments, increasing incentives for oil & gas, chemical & pharmaceutical projects, and customer shift towards the connected lighting solution from traditional lighting. The upcoming oil & gas, and chemical & pharmaceutical projects such as Basra Gas Gathering Project in Iraq and Abu Dhabi Northwest Development Project in UAE are expected to generate the demand for explosion-proof lightings as the conditions under these industries are highly explosive and reactive to the outside environment. Therefore, many companies are now focusing on expanding the production of oil & gas assets by growing their business through the establishment of oil & gas stations globally. For instance, in Moscow, the oil & gas industry is expected to spur by doubling the production of petrochemical to nearly 20 million metric tons/year by 2030. Moreover, 676 projects are set to begin their operation in 2021-2025 in China, under these projects, 512 will be of the petrochemical sector. Whereas, it is expected that, the chemical & petrochemical industry in India will grow to $300 billion by 2025 as per Invest India. Thus, there is a high demand for hazardous lighting in these countries, especially for LED lighting.
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Moreover, the major players are also contributing to the growth of the market by introducing explosion-proof lighting with enhanced features and wireless connectivity. For instance, in November 2020, Eaton launched HPLN Ex LED explosion-proof lighting designed to offer durable performance in hazardous conditions. These new launches can be projected to grow to drive the growth of the market. Considering these, considerable growth can be expected during the forecast period.
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Market Coverage
- Segment Covered-
o By Type
o By Light Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- ABB Ltd, Abtech Ltd, Adolf Schuch GmbH, Eaton Corp PLC, Emerson Electric, GE Lighting LLC, Hubbell Inc., Phoenix Products LLC, Philips Lighting Holding B.V, Unimar Inc., Osram Licht AG, among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Explosion-Proof Lighting Market Report Segment
By Type
- Fixed Lighting
- Mobile Lighting
- Small & Portable Lighting
By Light Type
- Incandescent
- Fluorescent
- LED
- HID
By End-User
- Oil & Gas
- Mining
- Food & Beverage
- Manufacturing & Power Plant
- Chemical & Pharmaceutical
- Others (Transportation, Military Bases)
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