Stratistics MRC report, Explosion Proof Lighting Market Forecasts to 2028 – Global Analysis Application, Key Players, Types, End User and By Geography
MARYLAND, GAITHERSBURG, UNITED STATES, November 10, 2021 /EINPresswire.com/ — According to Stratistics MRC, the Global Explosion Proof Lighting Market is accounted for $318.65 million in 2020 and is expected to reach $621.08 million by 2028 growing at a CAGR of 8.7% during the forecast period. The growing adoption of explosion-proof LED light fixtures and increasing investments in major end-user industries are the factors driving the market growth. However, the lack of common open standards is hampering market growth. Some of the key players profiled in the Explosion Proof Lighting Market include ABB Ltd, Abtech Ltd, Adolf Schuch GmbH, Brite Strike Technologies SA, Chamlit Lighting UK, Eaton Corporation Plc, GE Lighting, Hatch Transformers, Hubbell Ltd, Larson Electronics, Nordland Lighting, Osram Sylvania, Philips Lighting Holding, Victor Lighting, and Zhejiang Tormin Electrical Co. Ltd.
Browse the complete report with data tables and figures here: https://www.strategymrc.com/report/explosion-proof-lighting-market
Explosion Proof Lighting market report provides an in-depth study and forecast about the industry covering the complete overview of the market that will assist convey clients and business-making strategies. The industry’s supply chain and market size, in terms of value, have been derived by extensive research methods. Our report enables readers to understand details of the market, latest trends, key drivers and constraints, opportunities, threats, volume and value forecasts, and various investment opportunities for manufacturers operating in the global and regional markets. Explosion Proof Lighting report also offers company profiling with detailed strategies, financials, key products, and recent developments along with SWOT analysis of profiled players and Porters five forces for deep insights.
This report offers market monitoring related to a particular area of clients interest and provides up to date information related to strategic initiatives like mergers, acquisitions, partnerships, expansions, product launches for leading companies on a regional scale depending on the clients subscription period for various industries or markets. Our data is constantly updated and revised by team of research experts so that it always reflects the recent trends and information. We have high experience in research and consulting for different business domains to provide to the necessities of both individual and corporate clients. Our experienced team uses proprietary data sources and different tools and methods to gather and analyze information.
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The Global Explosion Proof Lighting Market is majorly driven by increasing investments in major end-user industries, government regulations regarding employee safety in hazardous environments, and growing focus of governments worldwide on energy conservation. The chemical & pharmaceutical segment is growing at a highest CAGR due to the increasing investments and rapid growth in emerging economies. North America dominated with a significant market share due to the increasing investments in the oil & gas industry and presence of major players in the region. Asia Pacific market is growing at a highest CAGR due to the increase in mining infrastructure development activities in India and increasing investments from various end use industries.
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