Exploring the Explosion-proof Lighting Market: Linear and Flood Light Segments
The Explosion-proof Lighting Market Size 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," the market is expected to grow significantly between 2021 and 2026, with a compound annual growth rate of 6.7%. The market is expected to reach USD 471 million by 2026 from USD 340 million in 2021. The increasing need for explosion-proof lighting across a range of industries to guarantee worker safety in dangerous environments is what is fueling this expansion. Lighting that is explosion-proof is essential for avoiding fires in areas where there are dust, vapours, or flammable gases present. The market is growing as a result of the use of cutting-edge lighting technologies like LEDs, which have a longer lifespan and more energy efficiency than conventional fluorescent lights.
Moreover, the need for strong and dependable explosion-proof lighting solutions is being driven by strict safety laws and standards in sectors including manufacturing, mining, oil and gas, and chemicals. High bay and low bay, linear, and flood lighting are among the types of market segmentation that are included to meet various application needs. Due to the region's rapid industrialization and the opening of new production facilities, the Asia-Pacific area is expected to grow significantly, which will increase demand for explosion-proof lighting systems.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202357576
A number of important reasons are driving the explosion-proof lighting market's expansion. First off, demand is being greatly increased by rising investments in the infrastructure development and project expansion plans of the chemical and pharmaceutical industries, as well as the oil and gas sector. To maintain safety in potentially dangerous locations, these businesses need reliable lighting solutions. Furthermore, governments all over the world are emphasising energy conservation, which is hastening the adoption of lighting systems with higher efficiency. The quick switch from standalone light systems to networked lighting solutions, which provide more efficiency and management, is another factor bolstering this trend. The growing popularity of LED-based explosion-proof lighting fixtures is another important factor. Compared to traditional light sources, LEDs have many benefits, including greater energy economy, a longer lifespan, improved durability, and less maintenance costs.
Explosion-proof Lighting Companies:
- Eaton (Ireland),
- ABB (Switzerland),
- Hubbell (US),
- Emerson (US),
- Signify (Netherlands),
- GE Current (US),
- Glamox (Norway),
- Phoenix Lighting (US),
- R. STAHL (Germany),
- Larson Electronics (US).
Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=202357576
Every process industry in the world, including mining, oil and gas, chemical and pharmaceutical, energy and electricity, and food and beverage, is required to follow strict safety regulations. Along with numerous additional certifications for items used in hazardous situations, these measures are developed by organisations like the European Committee for Electrotechnical Standardisation (CENELEC), the 1996 National Electrical Code, and the Increased Safety "Ex e." Industries employ effective and efficient explosion-proof lighting equipment in order to comply with these laws. These goods are essential to upholding safety regulations and guaranteeing the efficient operation of these sectors' operations. The market for explosion-proof lighting is expanding due in large part to the requirement for dependable lighting solutions and the observance of these safety regulations.
LED lights to dominate the explosion-proof lighting market, by light source
The most energy-efficient lighting solutions on the market are LEDs, which drastically lower industrial buildings' total running expenses. When comparing the total cost of ownership, they are 4-5 times more economical than fluorescent lamps. Additionally, compared to other lighting technologies, LEDs are less sensitive to temperature changes, which enables them to perform well in both extremely hot and cold conditions. Because of their adaptability, LEDs are perfect for a variety of industrial uses. Furthermore, it is anticipated that as industrial facilities proliferate, so will the use of LEDs for explosion-proof lighting, which will further impact market penetration.
Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/explosion-proof-lighting-market-202357576.html
Explosion-proof lighting market for chemical & pharmaceutical industry estimated to be the fastest growing segment, by end-user industry during the forecast period
In developing nations like China and India, the chemical and pharmaceutical sectors are expanding quickly and drawing large investments. For example, a Business Standard report stated that investments totaling about USD 1.7 billion were made in India's pharmaceutical sector in 2020, and even quicker growth is anticipated in the years to come. In addition, Invest India projects that the nation's petrochemical and chemical industries will generate USD 300 billion in revenue by 2025. The need for explosion-proof lighting in the chemical and pharmaceutical industries is anticipated to be driven by these large investments and strong growth estimates, which will strengthen the overall market momentum.
North America is projected to hold the largest share of explosion-proof lighting market in 2026
Explosion-proof lighting has found its most promising market in North America thanks to rising oil and gas industry investments. A number of large-scale projects, with projected investments of over USD 45 billion and USD 24.5 billion, respectively, are scheduled for the forecast period. These projects include the Corpus Christi LNG project in Texas and the Alaska LNG project in Alaska. While the Alaska LNG project is scheduled for completion in 2025, the Corpus Christi LNG project is anticipated to begin operations in 2022. Because of the significant financial risks involved in potential explosions and asset destruction, the oil and gas industry is one of the main end users of explosion-proof lighting.
News Covered:
Comments
Post a Comment