Explosion-proof Lighting Market

GMI Research analysis indicates that the Explosion-proof Lighting Market is slated to register a CAGR of 6.1% over the forecast period, till 2029.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global Explosion-proof Lighting market include increasing investments in oil & gas exploration and development projects, government policies regarding employee safety in hazardous workplaces, the rapid shift from traditional light systems to connected lighting systems, and surging adoption of LED-based explosion-proof light fixtures in industrial facilities. The oil & gas industry is the major end-user industry of explosion-proof lighting as any loss or damage to assets because an explosion can lead to increased costs. Moreover, with several upcoming oil & gas projects worldwide, the demand for this lighting system is expected to increase, which will contribute to the growth of the market. For instance, the Johan Castberg Field in Norway, Corpus Christi LNG in the US, and Petronas Floating LNG 2 in Malaysia are some of these projects.

Restraint in the Explosion-proof Lighting Market

However, the high initial cost associated with the installation of explosion-proof LED light fixtures is a major restraining factor hampering the growth of the explosion-proof lighting market.

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Light Source – Segment Analysis

Based on the Light Source, the LEDs segment is expected to grow at a higher CAGR during the forecast period. This can be attributed owing to the rising emphasis of governments worldwide on energy conservation which is a major factor influencing market growth. The governments in countries like Thailand, China, Brazil, and the US have imposed stringent regulations mandating LEDs for home applications. Moreover, these regulations also direct manufacturers of thrusting fixtures to comply with minimum standards of lighting efficiency. This is surging the demand for explosion-proof LED light fixtures and therefore contributing to the high market growth for these fixtures.

End-User Industry – Segment Analysis

Based on the End-User Industry, the Oil & Gas segment is expected to grow at a higher CAGR during the forecast period. The in the oil & gas industry is highly susceptible to explosives, and the use of lighting solutions with such an environment needs to be explosive-protected with all the necessary built-in safety standards. The rising developments in the industry are expected to raise the demand for these light fixtures during the forecast period. For instance, many companies are focusing on the exploration of oil & gas assets worldwide. In 2019, Kuwait signed an offshore exploration contract with Halliburton (US) worth USD 600 million, which can increase Kuwait’s oil production capacity by approximately 100,000 barrels of oil per day.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. This can be attributed owing to the rising investments in the oil & gas, chemical & pharmaceutical, marine & shipbuilding industries and mining. For example, according to Invest India, the chemical & petrochemical sector in India is predicted to grow to USD 300 billion by 2025. Moreover, the increase in mining infrastructure development activities in India is surging the demand for explosion-proof light fixtures. In this region, there are a number of industrial facilities rising considerably as raw materials are easily available in the countries such as India and China. All these factors are proliferating the growth of the explosion-proof lighting market in these regions.

Top Market Players

Various notable players operating in the market include Eaton, Hubbell, Emerson Electric Co, ABB, Current Lighting Solutions, LLC, OSRAM SYLVANIA Inc., Philips Lighting Holding, Larson Electronics, Shenzhen Lighting Inc., TREVOS, a.s., among others. 

Key Developments:

• • In 2021, Larson Electronics announced the launch of the EPL-EMG-LB-50LED-RT-CM, an explosion-proof high bay LED light fixture for the application in Class I, Division 1 hazardous locations. Also, this LED fixture comes with an emergency battery backup and provides 7,000 lumens of light output while drawing only 50 watts.
  • In 2020, Eaton launched HPLN Ex LED explosion-proof lighting, developed to deliver reliable performance in difficult operating conditions in Zone 1 and 2 hazardous locations.

Segments covered in the Report:

The global Explosion-proof Lighting market has been segmented on the basis of Type, Light Source, Safety Rating, End-User Industry and regions. Based on Type, the market is segmented into High Bay & Low Bay, Linear and Flood. Based on Light Source, the market is segmented into LED, Fluorescent and Others. Based on Safety Rating, the market is segmented into Class 1, Class 2 and Class 3. Based on End-User Industry the market is segmented into Oil & Gas, Chemical & Pharmaceutical, Food & Beverage, Mining, Energy & Power and Others. 

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Key questions answered in this research report:

• • At what pace is global Explosion-proof Lighting market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Explosion-proof Lighting market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Explosion-proof Lighting market?
  • Which Type generated maximum revenues in 2021 and identify the most promising Type during the forecast period?
  • What are the various Light Source areas of global Explosion-proof Lighting market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD Million
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Light Source, By Safety Rating, By End-User Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Eaton, Hubbell, Emerson Electric Co, ABB, Current Lighting Solutions, LLC, OSRAM SYLVANIA Inc., Philips Lighting Holding, Larson Electronics, Shenzhen Lighting Inc., TREVOS, a.s., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Explosion-proof Lighting Market by Type

• • High Bay & Low Bay
  • Linear
  • Flood

Global Explosion-proof Lighting Market by Light Source

• • LED
  • Fluorescent
  • Others

Global Explosion-proof Lighting Market by Safety Rating

• • Class 1
  • Class 2
  • Class 3

Global Explosion-proof Lighting Market by End-User Industry

• • Oil & Gas
  • Chemical & Pharmaceutical
  • Food & Beverage
  • Mining
  • Energy & Power
  • Others

Global Explosion-proof Lighting Market by Region

• • North America Explosion-proof Lighting Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Light Source
    • By Safety Rating
    • By End-User Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Explosion-proof Lighting Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Light Source
    • By Safety Rating
    • By End-User Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Explosion-proof Lighting Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Light Source
    • By Safety Rating
    • By End-User Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Explosion-proof Lighting Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Light Source
    • By Safety Rating
    • By End-User Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Explosion-proof Lighting (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Eaton
  • Hubbell
  • Emerson Electric Co
  • ABB
  • Current Lighting Solutions, LLC
  • OSRAM SYLVANIA Inc.
  • Philips Lighting Holding
  • Larson Electronics
  • Shenzhen Lighting Inc.
  • TREVOS, a.s.