[Research Report] The explosion-proof equipment market size is expected to grow from US$ 7.96 billion in 2022 to US$ 12.95 billion by 2030; it is estimated to record a CAGR of 6.3% from 2022 to 2030.Explosion-Proof Equipment Market Analyst Perspective:Strong economic conditions and low rates of housing loan interest will help maintain the expansion of construction activities in the world. Scandinavia is expected to show a slightly subdued growth, supported by improved construction sector conditions in various countries, allowing better residential and infrastructural spending. Swedish companies have a reputation for their methods and use of innovative technologies in the field of green buildings and infrastructure. Wooden building technology and low-energy housing solutions are areas where Sweden is at the forefront. These factors are boosting commercial and residential housing constructions, thereby increasing the need for explosion-proof equipment in buildings. For instance, BMarko Structures Inc. provides blast-resistant modular buildings. These blast-resistant modules are explosion-proof portable buildings designed to withstand blast loads. Thus, the growth of the construction sector is anticipated to create opportunities for the explosion-proof equipment market growth because of the need for explosion-proof equipment solutions in commercial and residential buildings.Explosion-Proof Equipment Market Overview:Explosion-proof equipment includes the products, devices, and solutions installed to inhibit sparks that can lead to an explosion. Installing these products in hazardous locations ensures better productivity and increased safety. Incorporating automation and monitoring systems ensures efficient tracking and detection, along with monitoring the functioning of the equipment. Therefore, these components help detect leaks of hazardous gases, accidental explosions, or any other complications during production. This provides added safety to the personnel, machinery, and surroundings. The designing and examination of explosion-proof equipment are controlled as per the NEC and ATEX/IEC standards, which create the production of equipment on the basis of the zone/class/group/division.The global explosion-proof equipment market is segmented based on protection method, type, and industry. Based on systems, the market is classified into junction boxes & enclosures, lighting systems, monitoring systems, signaling devices, automation systems, cable glands, HVAC systems, and others.  Based on protection method, the explosion-proof equipment market is segmented into explosion prevention, containment, and segregation. In terms of industry, the explosion-proof equipment market is segmented into manufacturing, pharmaceutical, mining, oil & gas, food processing, chemical & petrochemical, energy & power, and others.Strategic InsightsExplosion-Proof Equipment Market Driver:Growth in Oil & Gas IndustryAccording to an article published by CEIC Data in December 2022, Denmark's crude oil production was reported at 64.633 barrels/day in December 2022. Norway's crude oil production was reported at 1,685.121 barrels/day in December 2022. Between June 2022 and May 2023, Sweden's crude oil production remained stable at around 10 thousand barrels per day. With the growing oil & gas industry, the demand for explosion-proof equipment is also increasing to ensure the safety of all operators and workers working in oil & gas plants.Explosion-proof equipment play a crucial role in the oil & gas industry. In this industry, flammable liquids, gases, vapors, or combustible dust exist in sufficient quantities; hence, the safety of workers is the top priority. Generally, refineries, oil plants, and offshore facilities are constantly exposed to flammable substances. To combat the high potential for ignition, manufacturers must produce and rigorously test explosion-proof assets. For instance, in September 2020, the Scandinavian Sugar Mill Plant employed IEP technologies for explosion protection solutions. IEP Technologies proposed a solution that could be seamlessly incorporated into the existing equipment design parameters.Explosion-Proof Equipment Market Report Segmentation and Scope:The global explosion-proof equipment market is segmented based on systems, protection method, Industry, and geography. The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the explosion-proof equipment market is also segmented on the basis of protection methods offered by the leading participants in the industry in order to understand widely used market-specific terminologies. Thus, we have incorporated the segments of the research and have finalized the market segmentation.Explosion-Proof Equipment Segmental Analysis:Based on industry, the Explosion-Proof Equipment Market is segmented into Pharmaceutical, Mining, Oil & Gas, Manufacturing, Food processing, Energy & Power, Chemical & Petrochemical, Others. Explosion-Proof Equipment Market Regional Analysis:North America consists of several countries, including the US, Canada, and Mexico. In North America, countries such as the US and Canada are known for adopting advanced technologies, high standards of living, and developed infrastructure. High disposable incomes and technological advancements have been propelling the growth of the explosion-proof equipment market as every type of industry, either SMEs or large enterprises, is focusing on deploying explosion-proof equipment in their factories. North America is expected to dominate the explosion-proof equipment market share as it has the highest number of manufacturing facilities and oil & gas industries. For instance, according to the American Manufacturing Statistics report of May 2021 published by Propel PLM Inc., there were 292,825 manufacturing factories in the US, and ~12.2 million people were employed in the US manufacturing industry in 2021. Similarly, for the oil & gas industry, a total of 22 companies were producing oil & natural gas in Mexico, with another two projected to join the list in 2020, according to the local oil and gas association—Amexhi. In Canada, 1,334 companies are producing oil & gas; in the US, there are ~9,000 independent oil & natural gas producers. Thus, with the growth of manufacturing and oil & gas industries in the region, the need to employ a greater number of workers and maintain the safety of workers and operators present in the factories is also increasing. Hence, there is an increased demand for explosion-proof equipment in these hazardous areas. Therefore, several industries (including oil & gas and manufacturing) are implementing explosion-proof equipment to maintain the safety of the operators and workers.Explosion-Proof Equipment Market Key Player Analysis:BARTEC Gmbh, Intertek Group PLC, R. STAHL AG, ABB Ltd., Emerson, Extronics Ltd., Marechal Electric Group, Eaton Corporation, Siemens AG, and Rockwell are among the key explosion-proof equipment market players operating in the report.Explosion-Proof Equipment Market Recent Developments: Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies operating in the explosion-proof equipment market. A few recent key explosion-proof equipment market developments are listed below: In 2022, ARCHON Industries, Inc. announced the launch of its new explosion‐proof light. The EX20‐100 luminaire has been designed to continuously illuminate process vessels, tanks, distillation columns, and other industrial items in hazardous (Haz‐Loc) and non‐hazardous areas. Approved hazardous operating environments are Class I Division I Group C&D and Class I Division II Group C&D locations only.In 2022, Ben Buchele Elektromotorenwerke GmbH launched a new ATEX/IECEx explosion-proof motor, the dKD280, designed especially for the marine and offshore markets.