South & Central America Explosion-Proof Equipment Market Forecast to 2030
South & Central America Explosion-Proof Equipment Market Forecast to 2030 – Regional Analysis – By Systems (Junction Boxes and Enclosures, Lighting System, Monitoring System, Signaling Devices, Automation System, Cable Glands, HVAC Systems, and Others), Protection Method (Explosion Prevention, Explosion Containment, and Explosion Segregation), and Industry (Pharmaceutical, Mining, Oil & Gas, Manufacturing, Food Processing, Energy & Power, Chemical & Petrochemical, and Others)
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Description
Integration with IoT Fuel South & Central America Explosion-Proof Equipment Market
Over the period, IoT has emerged as the most popular trend, which is nearly being associated with every technology. Whether in manufacturing or other industries, IoT is linked to everything. Construction, manufacturing, and agriculture industries tend to have the highest incident/accident rates. There are various risks associated with working in hazardous areas. Moreover, accidents at factories cost millions of dollars in medical expenses, damaged goods, and high insurance premiums every year for operators and workers. Further, factories have multiple interconnected machines and devices working simultaneously, and a minor lapse in judgment can lead to deadly outcomes. Hence, many businesses are now creating IoT-enabled environments to remove the guesswork from manual processes. Smart monitoring allows workers to make correct decisions and, at the same time, stay out of the risk. IoT systems offer multiple benefits for businesses, including improving the use of equipment, reducing incidents due to damaged machinery, and monitoring toxic substances. Firstly, IoT devices allow workers to monitor all industrial processes without coming close to dangerous equipment with the help of deploying several Wi-Fi-enabled beacons attached to the machines. Secondly, IoT detects damaged machinery with the help of implanted sensors. Sensors help in the monitoring and detection of physical parameters of any machinery, including voltage, temperature, and humidity, in real-time. Processes in the manufacturing & construction industry led to the production of toxic substances. Long-term exposure to toxic substances could affect the workers’ health. IoT-enabled smartwear can track parameters to notice the signs of fatigue and nausea, encouraging the worker to take regular breaks and leave the area temporarily if there is a spike in toxic gas activity. Therefore, with the evolution of Industry 4.0, the use of IoT in factories is increasing to provide safety to the workers and operators both. Therefore, the explosion-proof equipment market is growing.
South & Central America Explosion-Proof Equipment Market Overview
The SAM explosion-proof equipment market is segmented into Brazil, Argentina, and the Rest of SAM. The rising construction and developments of commercial and residential buildings in the region are creating the need for explosion-proof equipment such as safety plugs & switches, signaling devices, monitoring systems, and lighting systems. For instance, in January 2020, construction companies started building hotel rooms, making Brazil the leading country in the construction of lodging facilities in SAM. Colombia was the second country in the region with the largest number of hotel rooms under construction, followed by Chile and Peru. The construction industry in the region is expected to grow rapidly, signifying rapid real estate and infrastructure development during the forecast period. With the growing construction activities across the region, the number of construction plants is also increasing, which is propelling the growth of the explosion-proof equipment market in SAM. Moreover, the government of several nations in the region is focusing on the development of residential and commercial buildings. For instance, according to Chile’s National Construction Association, the Cámara Chilena de la Construcción is supporting the government’s estimated US$ 26 billion planned jump-start the industry in 2021. The plan, called the Paso a Paso Chile se Recupera (the Employment and Reactivation Plan), foresees an investment of US$ 13 billion and US$ 13 billion in infrastructure and housing, respectively. Therefore, a surge in the economy and government focus on the construction of commercial and residential buildings is driving the growth of the explosion-proof equipment market in the region.
South & Central America Explosion-Proof Equipment Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Explosion-Proof Equipment Market Segmentation
The South & Central America explosion-proof equipment market is segmented into systems, protection method, industry, and country.
Based on systems, the South & Central America explosion-proof equipment market is segmented into junction boxes & enclosures, lighting system, monitoring system, signaling devices, automation system, cable glands, HVAC systems, and others. The cable glands held the largest share of the South & Central America explosion-proof equipment market in 2022.
In terms of protection methods, the South & Central America explosion-proof equipment market is categorized into large explosion prevention, explosion containment, and explosion segregation. The explosion prevention segment held the largest share of the South & Central America explosion-proof equipment market in 2022.
Based on industry, the South & Central America explosion-proof equipment market is segmented into pharmaceutical, mining, oil & gas, manufacturing, food processing, energy & power, chemical & petrochemical, and others. The energy & power segment held the largest share of the South & Central America explosion-proof equipment market in 2022.
By country, the South & Central America explosion-proof equipment market is segmented into Brazil, Argentina, and the Rest of South America. The Rest of South America dominated the South & Central America explosion-proof equipment market in 2022.
ABB Ltd, Cortem S.p.A., Eaton Corp Plc, Emerson Electric Co, Rockwell Automation Inc, Siemens AG, and Pepperl+Fuchs SE are some of the leading companies operating in the South & Central America explosion-proof equipment market.
Summary Info
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According to the Research Team’ research, the South & Central America explosion-proof equipment market was valued at US$ 161.18 million in 2022 and is expected to reach US$ 194.29 million by 2030, registering a CAGR of 2.4% from 2022 to 2030. Growth in the construction sector, increasing use of explosion proof led lights, and growing industrial safety measures are the critical factors attributed to the South & Central America explosion-proof equipment market expansion.
The construction sector is witnessing a decent growth rate in the recent time. Governments of various countries are taking initiatives to support the construction industry. The increase in the construction of commercial and residential buildings is expected to provide growth opportunities for the market. Residential and commercial housing constructions are continuously growing in the region, majorly in developing countries. For the last few years, industrialization is growing at a significant rate, which has contributed a major share toward the SAM’s economic growth. The expansion of the construction industry in the region with a rise in the number of residential and commercial places is driving the growth of the explosion-proof equipment market in SAM. The increased demand for explosion-proof equipment from the region’s burgeoning nonresidential building and infrastructure development can be ascribed to the region’s expansion. Brazil and Argentina account for most of the demand for construction market in the region, owing to population increase, economic growth, government investments, and the low-cost green building materials demand. Furthermore, owing to cheap labor, trade liberalization, and favorable government regulations, foreign companies are establishing factories and distribution hubs in developing Asia Pacific and South American countries, supporting the explosion-proof equipment market growth in SAM. Thus, the growth of the construction sector is anticipated to create opportunities for the explosion-proof equipment market players because of the need for explosion-proof equipment solutions in commercial as well as residential buildings.
On the contrary, complexities involved in installation and maintenance of explosion-proof equipment hampers the South & Central America explosion-proof equipment market.
Based on systems, the South & Central America explosion-proof equipment market is segmented into junction boxes & enclosures, lighting system, monitoring system, signaling devices, automation system, cable glands, HVAC systems, and others. The cable glands segment held 29.2% share of South & Central America explosion-proof equipment market in 2022, amassing US$ 47.03 million. It is projected to garner US$ 52.41 million by 2030 to expand at 1.4% CAGR during 2022-2030.
In terms of protection method, the South & Central America explosion-proof equipment market is categorized into large explosion prevention, explosion containment, and explosion segregation. The explosion prevention segment held 57.8% share of South & Central America explosion-proof equipment market in 2022, amassing US$ 93.15 million. It is projected to garner US$ 101.50 million by 2030 to expand at 1.1% CAGR during 2022-2030.
Based on industry, the South & Central America explosion-proof equipment market is segmented into pharmaceutical, mining, oil & gas, manufacturing, food processing, energy & power, chemical & petrochemical, and others. The energy & power segment held 23.1% share of South & Central America explosion-proof equipment market in 2022, amassing US$ 37.25 million. It is projected to garner US$ 43.33 million by 2030 to expand at 1.9% CAGR during 2022-2030.
By country, the South & Central America explosion-proof equipment market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that the Rest of South America captured 48.7% share of South & Central America explosion-proof equipment market in 2022. It was assessed at US$ 78.52 million in 2022 and is likely to hit US$ 92.15 million by 2030, exhibiting a CAGR of 2.0% during 2022-2030.
Key players operating in the South & Central America explosion-proof equipment market are ABB Ltd, Cortem S.p.A., Eaton Corp Plc, Emerson Electric Co, Rockwell Automation Inc, Siemens AG, and Pepperl+Fuchs SE, among others.
2022: ABB Ltd (India) has launched flameproof low voltage motors for applications in potentially explosive environments. The flameproof low voltage motors offer considerable benefits including low vibration levels with increased reliability for an extended lifetime and reduced maintenance requirements for a lower cost of ownership.
2022: ABB’s launched a smaller flameproof motor that offers safety and reliability. The new low voltage IEC (LV) flameproof motors are ideal for use in hazardous and explosive environments, typically found in the chemical, mining, and oil & gas industries.
o Highlights key business priorities to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in South & Central America explosion-proof equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Explosion-Proof Equipment Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain:
5. South & Central America Explosion-Proof Equipment Market – Key Industry Dynamics
5.1 Drivers
5.1.1 Growth in Oil & Gas Industry
5.1.2 Increasing use of Explosion Proof LED Lights
5.1.3 Growing Industrial Safety Measures
5.2 Restraints:
5.2.1 Complexities Involved in Installation and Maintenance of Explosion-Proof Equipment
5.3 Opportunity:
5.3.1 Growth in the Construction Sector
5.4 Trends:
5.4.1 Integration with IoT
6. Explosion-Proof Equipment Market – South & Central America Market Analysis
6.1 Explosion-Proof Equipment Market Revenue (US$ Million), 2022 – 2030
7. South & Central America Explosion-Proof Equipment Market Analysis – Systems
7.1 Junction Boxes and Enclosures
7.1.1 Overview
7.1.2 Junction Boxes and Enclosures Market Revenue and Forecasts To 2030 (US$ Million)
7.2 Lighting System
7.2.1 Overview
7.2.2 Lighting System Market Revenue and Forecasts To 2030 (US$ Million)
7.3 Monitoring System
7.3.1 Overview
7.3.2 Monitoring System Market Revenue and Forecasts To 2030 (US$ Million)
7.4 Signaling Devices
7.4.1 Overview
7.4.2 Signaling Devices Market Revenue and Forecasts To 2030 (US$ Million)
7.5 Automation System
7.5.1 Overview
7.5.2 Automation System Market Revenue and Forecasts To 2030 (US$ Million)
7.6 Cable Glands
7.6.1 Overview
7.6.2 Cable Glands Market Revenue and Forecasts To 2030 (US$ Million)
7.7 HVAC Systems
7.7.1 Overview
7.7.2 HVAC Systems Market Revenue and Forecasts To 2030 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others Market Revenue and Forecasts To 2030 (US$ Million)
8. South & Central America Explosion-Proof Equipment Market Analysis – Protection Method
8.1 Explosion Prevention
8.1.1 Overview
8.1.2 Explosion Prevention Market Revenue and Forecasts To 2030 (US$ Million)
8.2 Explosion Containment
8.2.1 Overview
8.2.2 Explosion Containment Market Revenue and Forecasts To 2030 (US$ Million)
8.3 Explosion Segregation
8.3.1 Overview
8.3.2 Explosion Segregation Market Revenue and Forecasts To 2030 (US$ Million)
9. South & Central America Explosion-Proof Equipment Market Analysis – Industry
9.1 Pharmaceutical
9.1.1 Overview
9.1.2 Pharmaceutical Market Revenue and Forecasts To 2030 (US$ Million)
9.2 Mining
9.2.1 Overview
9.2.2 Mining Market Revenue and Forecasts To 2030 (US$ Million)
9.3 Oil and Gas
9.3.1 Overview
9.3.2 Oil and Gas Market Revenue and Forecasts To 2030 (US$ Million)
9.4 Manufacturing
9.4.1 Overview
9.4.2 Manufacturing Market Revenue and Forecasts To 2030 (US$ Million)
9.5 Food Processing
9.5.1 Overview
9.5.2 Food Processing Market Revenue and Forecasts To 2030 (US$ Million)
9.6 Energy and Power
9.6.1 Overview
9.6.2 Energy and Power Market Revenue and Forecasts To 2030 (US$ Million)
9.7 Chemical & Petrochemical
9.7.1 Overview
9.7.2 Chemical & Petrochemical Market Revenue and Forecasts To 2030 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others Market Revenue and Forecasts To 2030 (US$ Million)
10. South & Central America Explosion-Proof Equipment Market – Country Analysis
10.1 South & Central America
10.1.1 South & Central America Explosion-Proof Equipment Market Overview
10.1.2 South & Central America Explosion-Proof Equipment Market, By Key Country – Revenue 2022 (US$ Million)
10.1.3 South & Central America Explosion-Proof Equipment Market Revenue and Forecasts and Analysis – By Countries
10.1.3.1 Brazil Explosion-Proof Equipment Market Revenue and Forecasts to 2030 (US$ Million)
10.1.3.1.1 Brazil Explosion-Proof Equipment Market Breakdown by Systems
10.1.3.1.2 Brazil Explosion-Proof Equipment Market Breakdown by Protection Method
10.1.3.1.3 Brazil Explosion-Proof Equipment Market Breakdown by Industry
10.1.3.2 Argentina Explosion-Proof Equipment Market Revenue and Forecasts to 2030 (US$ Million)
10.1.3.2.1 Argentina Explosion-Proof Equipment Market Breakdown by Systems
10.1.3.2.2 Argentina Explosion-Proof Equipment Market Breakdown by Protection Method
10.1.3.2.3 Argentina Explosion-Proof Equipment Market Breakdown by Industry
10.1.3.3 Rest of South & Central America Explosion-Proof Equipment Market Revenue and Forecasts to 2030 (US$ Million)
10.1.3.3.1 Rest of South & Central America Explosion-Proof Equipment Market Breakdown by Systems
10.1.3.3.2 Rest of South & Central America Explosion-Proof Equipment Market Breakdown by Protection Method
10.1.3.3.3 Rest of South & Central America Explosion-Proof Equipment Market Breakdown by Industry
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
12. Company Profiles
12.1 ABB Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cortem S.p.A.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Eaton Corp Plc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Emerson Electric Co
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Rockwell Automation Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Siemens AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.7 Pepperl+Fuchs SE
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 Word Index
LIST OF TABLES
Table 1. Explosion-Proof Equipment Market Segmentation
Table 2. Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – Systems
Table 3. Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – Protection Method
Table 4. Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – Industry
Table 5. South and Central America Explosion-Proof Equipment Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 6. Brazil Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Systems
Table 7. Brazil Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Protection Method
Table 8. Brazil Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Industry
Table 9. Argentina Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Systems
Table 10. Argentina Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Protection Method
Table 11. Argentina Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Industry
Table 12. Rest of South & Central America Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Systems
Table 13. Rest of South & Central America Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Protection Method
Table 14. Rest of South & Central America Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million) – By Industry
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Explosion-Proof Equipment Market Segmentation, By Country
Figure 2. Ecosystem: Explosion-Proof Equipment Market
Figure 3. Explosion-Proof Equipment Market – Key Industry Dynamics
Figure 4. Explosion-Proof Equipment Market Revenue (US$ Million), 2022 – 2030
Figure 5. Explosion-Proof Equipment Market Share (%) – Systems, 2022 and 2030
Figure 6. Junction Boxes and Enclosures Market Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Lighting System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Monitoring System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Signaling Devices Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Automation System Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Cable Glands Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. HVAC Systems Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Explosion-Proof Equipment Market Share (%) – Protection Method, 2022 and 2030
Figure 15. Explosion Prevention Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Explosion Containment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Explosion Segregation Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Explosion-Proof Equipment Market Share (%) – Industry, 2022 and 2030
Figure 19. Pharmaceutical Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Mining Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Oil and Gas Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Manufacturing Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Food Processing Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Energy and Power Market Revenue and Forecasts To 2030 (US$ Million)
Figure 25. Chemical & Petrochemical Market Revenue and Forecasts To 2030 (US$ Million)
Figure 26. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 27. Explosion-Proof Equipment Market, By Key Country – Revenue 2022 (US$ Million)
Figure 28. Explosion-Proof Equipment Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 29. Brazil Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 30. Argentina Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million)
Figure 31. Rest of South & Central America Explosion-Proof Equipment Market Revenue and Forecasts To 2030 (US$ Million)
The List of Companies – South & Central America Explosion-Proof Equipment Market
1. ABB Ltd
2. Cortem S.p.A.
3. Eaton Corp Plc
4. Emerson Electric Co
5. Rockwell Automation Inc
6. Siemens AG
7. Pepperl+Fuchs SE
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