25 June 2019, The global
explosion proof motor market is expected to display higher growth rate over the next
five years. Rapid surge in explosion proof motors market is credited to the
growing number of initiatives undertaken by local governments to promote use of
energy-efficient motors. In addition, rise in number of promotional activities
adopted by government as well as private manufacturers is expected to fuel the
growth of the market over the forecast period. Globally, market is predicted to
generate massive revenue over next five years, providing numerous opportunities
for market players to invest for research and development in the explosion
proof motors market.
Use of regular motors
poses a serious threat, particularly when these motors are operated in
industrial atmosphere containing highly flammable or combustible materials.
Typically, the cause of highly flammable or combustible materials include arcs,
sparks or high temperatures during functioning of a motor. Effects of such
combustion rages from minor processing downtime to serious injuries to workers.
Avoiding large-scale effects is a matter of choosing specific motor that can
function properly in a harsh industrial atmosphere. These factors are fostering
market need for explosion proof motors, in the past few years.
Factors responsible for
robust growth of the market include growing demand from various end-user
industries, increasing number of production lines and soaring demand for
energy-efficient motors for different industrial operations. Stringent laws
& regulation by regional governments are forcing end-use industries to
adopt energy-efficient equipment, thus propelling market demand, in the recent
years.
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Growing number of energy-intensive
industries is expected to generate high-end demand for energy-efficient motors
over the forecast period. Furthermore, development of improved designs and
formation of contemporary explosion proof encapsulation that averts the entry
of vapor, duct, or gas in the motor causing explosion is anticipated to play
major role in the market growth over the coming years.
The market is broadly categorized into
four major segments based on the application type such as oil & gas
industry, chemicals & petrochemicals sector, mining & metal industry,
and energy & power generation sector. The oil & gas industry segment is
growing rapidly in the explosion proof motors industry with substantial revenue
generation in the last few years. Growing popularity of explosion proof motors
in the oil & gas segment is attributed to the rising number of production
lines and higher market penetration. The chemicals & petrochemicals segment
has also witnessed substantial growth owing to the increasing occurrence of
on-site explosion and growing use of highly flammable materials.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies in manufacturing sector, surge in number of research
& development activities in the region and existence of well-established
industrial infrastructure.
Asia-Pacific region is estimated to
hold major share in the explosion proof motors market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with strong economic growth, increasing number of
manufacturing activities, rising number of production lines, and significant
investment by leading industry players considering potential growth
opportunities in the region. The key players in the explosion proof motors
market are ABB Group, Schneider Electric SE, Brook Crompton Holdings, General
Electric Company, Rockwell Automation, Inc., Siemens AG and WEG Industries.
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