Energia
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. 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.
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.
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 CAGR of 6.1% from 2019 to 2026, owing to growth in the paint, chemical, and textile industries in the UK.
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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