July 2022
30 Aug 2024
The global explosion proof lighting market exhibited USD 369.10 billion in 2023 and is predicted to attain around USD 735.63 billion by 2033, growing at a CAGR of 7.14% during the forecast period. The rising demand for industrial lighting is driving the growth of the market.
Explosion-proof lighting is an essential element in the industrial infrastructure, especially in industries with hazardous environments which had flammable gases, alcohol, and dust particles in their air, such as petroleum, pharmaceutical and chemicals, oil and gases, mining, and other manufacturing industries. The explosion-proof lighting is also known as the high-protection lighting fixture that is used to install lights in hazardous locations. These lights are highly resistant to moisture, corrosion, water, and explosion. They are made of durable material and certified with specific safety standards.
The surge in the development of oil refineries is boosting the growth of the explosion proof lighting market
The increasing demand for oil and petroleum globally, due to the rising population and industrialization, drives the demand for energy and oil and gas products from efficient working operations. Industries like oil refineries are hazardous in nature and are more likely to get a spark or ignite by any other source. Explosion-proof lighting is one of the most important parts of the industry for maintaining the proper visibility of the workers for working operations. It also can mitigate the potential risk of ignition and spark, reduce the chances of accidents, and ensure the safety of industrial workers and assets in a hazardous environment.
However, some of the common issues are limiting the expansion of the explosion proof lighting market. With the additional benefits, explosion-proof lighting comes with some common problems, including bulk failure, corrosion, moisture intrusion, wiring problems, electric malfunctions, inadequate lighting, excess heat, power outages, environmental factors, and insufficient maintenance are some of the limiting factors.
Recent Development by Emerson Electric Co. in the Explosion Proof Lighting Market
| Company Name | Emerson Electric Co. |
| Headquarters | Missouri, United States |
| Development | In April 2023, Emerson and NI came into a collaboration in which Emerson acquired NI for $60 per share in cash at an equity value of $8.2 billion. The company Emerson is already the owner of the NI’s 2.3 million shares, representing 2% of outstanding shares acquired at a weighted average price of $36.84. |
Recent Development by Archon Industries in the Explosion Proof Lighting Market
| Company Name | Archon Industries |
| Headquarters | NY, United States |
| Development | In January 2023, ARCHON Industries Inc. introduced the EX20-100, a revolutionary explosion-proof lamp. The EX20-100 luminaire, according to the manufacturer, is made to continuously illuminate industrial objects such as tanks, distillation columns, and process vessels that are situated in both hazardous and non-hazardous environments. |
North America is estimated to grow at the fastest rate during the forecast period. The growth of the market is owing to the higher availability of the industries, and the stringent government policies for maintaining workplace safety are driving the growth of the market. The region is also the producer of a significant amount of oil and energy, and the higher availability of the oil and gas industries in the region is also driving the growth of the explosion proof lighting market across the region.
Asia Pacific dominated the market in 2023. The growth of the market is attributed to the rising population and economic growth in regional countries like China, India, Japan, and others, which are accelerating the industrialization across the region that drives the demand for industrial lighting with higher durability, greater resistance towards heat, and moisture, cost-efficient, and prevent ignition and spark in the environment that is collectively driving the growth of the explosion proof lighting market. Additionally, the rising demand for industries like the pharmaceutical, energy sector, oil and gas, mining, and petroleum industries, which contain more hazardous environments in the industries, is driving the growth of the explosion-proof lighting market in the region.
The rising government intervention in supporting the safety regulations for workplace safety standards
The rising industrialization across the world due to the rising population, economic uplift, disposable income, and surging expenditure on lifestyle maintenance is driving the demand for the various end-use products that drive the growth of industries such as consumer electronics, manufacturing, automobile, healthcare, and others all these industries require bulk amount of man force for the operation and the rising cases in the workplace accidents drive government intervention for creating stringent regulation for maintaining labor safety by the companies with proper utilization of safety infrastructure development that is contributing in the expansion of the explosion proof lighting market.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 395.45 Billion |
| Market Revenue by 2033 | USD 735.63 Billion |
| CAGR | 7.14% |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Segmentation
By Type
By Light Type
By End-Use
Buy this Research Report@ https://www.precedenceresearch.com/checkout/4861
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308
July 2022
May 2024
February 2024
February 2024