Europe Explosion-Proof Equipment Market Forecast to 2030 - Regional Analysis - By Systems, Protection Method, and Industry

The Europe explosion-proof equipment market is expected to grow from US$2.03 billion in 2022 to US$2.99 billion by 2030. It is estimated to grow at a CAGR of 4.9% from 2022 to 2030.

Growth in the Construction Sector Fuel Europe Explosion-Proof Equipment Market

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 instance, according to the Russian news agency, the commissioning of housing in Russia increased by 28.4% in the first five months of 2021 compared to the previous year. In May 2021, 5 million square meters of housing was built, which was ~31% more than in May 2020. Governments have taken initiatives to support the housing industry. For instance, safety policies enable the reuse of construction products in the Nordics. In an era of increasing environmental consciousness, adopting sustainable practices is more vital than ever. The construction sector stands at the forefront among the various industries that play a significant role in shaping our planet's ecological footprint. As the demand for construction continues to rise, so does the need for innovative solutions prioritizing resource efficiency, waste reduction, and the circular economy. In collaboration with the consulting company Norion Consult, the European and Nordic policy initiatives have significant positive or negative impacts on the possibility of reusing construction products. Thus, rising residential and residential housing constructions and growing government initiatives in housing construction are influencing the demand for explosion-proof equipment. 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. 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.

Europe Explosion-Proof Equipment Market Overview

The explosion-proof equipment market in Europe is segmented into the UK, Germany, Italy, France, Russia, and the Rest of Europe. The region is expected to dominate the explosion-proof equipment market because of the growth in the mining industry. Firstly, there are several mining industries present in the region, including Leonhard Nilsen & Sonner, Complexul Energetic Oltenia, Czech Coal, Hellenic Copper Mines, Boliden, Government of Federation of Bosnia and Herzegovina, and JP Elektroprivreda BiH, among others. These mining industries have executed several mining projects in the region. For instance, The Kvannevann Iron Ore Mine is owned by Leonhard Nilsen & Sonner and located in Nordland, Norway; its brownfield mine produced approximately 6.717 Mt (megaton) of ROM (run-of-mine) in 2020. It recorded a production of ~1.447 mtpa (metric tons per annum) of iron ore in 2020. Similarly, The CSA Mine is a coal mine located in Moravian-Silesian, Czech Republic; it is owned by Czech Coal, and its greenfield project produced an estimated 4.482 Mt of ROM in 2020. The mine had an approximate production of 3.406 mtpa of coal in 2020 and continued to operate till 2022. The Boliden Area Mines (located in Vasterbotten, Sweden) is a gold mining development project owned by Boliden; it is expected to operate until 2028. Its brownfield mine produced an estimated 2.1 Mt of ROM in 2021. Therefore, the growth in the mining industry due to a rise in ongoing mining projects requires explosion-proof equipment for safety purposes. The need for explosion-proof equipment is important in these hazardous areas as this equipment helps maintain the safety of workers as well as the operators present in the factories. Therefore, the mining industry and many other industries are implementing explosion-proof equipment to maintain the safety of the operators as well as workers.

Moreover, Europe has many manufacturers of explosion-proof equipment, including ABB Ltd, BARTEC Group, Cortem S.p.A., Eaton Corporation plc, Extronics Ltd, R. STAHL AG, and Siemens AG, among others. The presence of such well-known explosion-proof equipment market players in the region is fueling the growth of the market.

Europe Explosion-Proof Equipment Market Segmentation

The Europe explosion-proof equipment market is segmented into systems, protection method, industry, and country.

Based on systems, the Europe 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 Europe explosion-proof equipment market in 2022.

In terms of protection method, the Europe 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 Europe explosion-proof equipment market in 2022.

Based on industry, the Europe explosion-proof equipment market is segmented into pharmaceutical, mining, oil & gas, manufacturing, food processing, energy & power, chemical & petrochemical, and others. The oil & gas segment held the largest share of the Europe explosion-proof equipment market in 2022.

By country, the Europe explosion-proof equipment market is segmented into Germany, the UK, France, Italy, Russia, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania, Finland, and the Rest of Europe. Germany dominated the Europe explosion-proof equipment market in 2022.

ABB Ltd, Cortem S.p.A., Eaton Corp Plc, Emerson Electric Co, Rockwell Automation Inc, Siemens AG, Pepperl+Fuchs SE, MoistTech Corp LAB Denmark ApS, and FABRIKA AS are some of the leading companies operating in the Europe explosion-proof equipment market.