Explosion-proof Lighting Market Emerging Trends and Forecasts to 2026

Posted December 1, 2022 by avinashgogawale14

By 2026, the Explosion-proof Lighting Market is projected to have grown from USD 2.3 billion in 2021 to USD 6.6 billion, at a CAGR of 23.2%.
The Explosion-Proof Lighting Market is anticipated to increase from USD 340 million in 2021 to USD 471 million by 2026, growing at a CAGR of 6.7% during that time. Increased investments in the oil and gas, chemical, and pharmaceutical industries for infrastructure development and project expansion plans, as well as consumer adoption of LED-based explosion-proof lights to replace conventional lights and help reduce energy and revenue losses, are the main factors driving the growth of this market. These factors are complemented by government initiatives to phase out halogen and incandescent light fixtures in industrial lighting environments.

Key international market leaders such as Eaton (Ireland), ABB (Switzerland), Hubbell (US), Emerson (US), Signify (Netherlands), GE Current (US), Glamox (Norway), Phoenix Lighting (US), R. STAHL (Germany), and Larson Electronics (US) dominate the explosion-proof lighting market. To increase their position in the market, these businesses put a lot of effort into implementing both organic and inorganic growth strategies, including new launches and developments, contracts, and acquisitions.

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In 2020, Eaton (Ireland) owned the largest market share for explosion-proof lighting worldwide. According to the International Electrotechnical Commission (IEC) and European Union (IECEx and ATEX) regulations, the company is a global leader in the design and production of precise LED light fixtures for a variety of lighting applications in hazardous situations. The company enjoys a solid reputation among the biggest oil and gas producers in the globe, which enabled it to post strong sales in 2020. With a broad product line of energy-efficient lighting solutions and a focus on a variety of industry verticals, including oil & gas, chemicals & pharmaceuticals, energy & power, food & beverage, marine & shipbuilding, and mining, Hubbell (US) came in second. These companies' markets have expanded quickly as connected lighting solutions quickly replaced conventional lighting systems.

In the market for explosion-proof lighting, Eaton (Ireland) is a market leader. It focuses on product innovation and regularly expands its line of offerings. The business unveiled a number of new products, including the CEAG ExLin linear LEDs for Zone 1 and 2 hazardous environments, the HRL Series LED, and the HPLN Ex LED, that promise excellent luminous efficacy and significant cost savings over conventional fluorescent fixtures. In order to interact with its consumers and promote the quicker circulation of goods in the market, the company has also built a highly integrated distribution network.

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Hubbell is a significant competitor in the market for explosion-proof lighting (US). The company is excited to combine both domestic and foreign innovation energy to keep up with market and industry trends, take advantage of chances for further development, and develop specialised products. In addition, the business is concentrating on doing domain research to enhance the performance of its products and create new applications. The company has consistently introduced new products to diversify its product line for a range of applications. Recently, Protecta X LED and Luna LED Floodlights, which provide exceptional illumination and lamp lifespan, were introduced by Chalmit, a division of the Hubbell Group.

To achieve continuous and sustainable development, other significant players in the explosion-proof lighting market are primarily concentrating on growing their regional presence and introducing new products.

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Last Updated December 1, 2022