The global explosion-proof lighting market size is

2021-11-16 07:45:48 By : Mr. peter ren

June 8, 2021 10:31 US Eastern Time | Source: ReportLinker ReportLinker

New York, June 8, 2021 (GLOBE NEWSWIRE) - announced the release of the report "Explosion-proof lighting market and COVID-19 impact analysis, by type, light source, safety rating, hazardous location, end user industry and region-to 2026 Global Forecast for the Year"- COVID-19 has brought demand-side and supply-side shocks to the global economy. Leading suppliers of explosion-proof lighting products, such as Eaton (Ireland) and Hubble (USA), have suffered heavy losses due to the pandemic. Both companies reported that their 2020 full-year revenue fell by approximately 10% and 12%, respectively, compared to the previous year. The impact of COVID-19 may continue into 2021. The situation in emerging markets and developed markets is almost similar to that of economies. As of April 2021, India and the United States have become the countries most affected by COVID. Due to the decline in fuel and energy demand in various end-user industries, many oil and gas projects in the aforementioned countries have been postponed. With the reduction of fuel and energy demand, it is estimated that the investment of oil and gas companies in the installation of energy-saving explosion-proof lamps in updated industrial facilities will be minimal. LED: The fastest growing light source segment in the explosion-proof lighting market. LEDs are the most energy-efficient lighting option and can help significantly reduce the overall operating costs of industrial facilities. In addition, compared to other lighting technologies, LEDs are less sensitive to temperature, so they can easily operate in extremely hot and cold environments. In addition, the increase in the number of industrial facilities is expected to affect the penetration rate of LEDs in explosion-proof lighting applications, and will drive growth at the highest rate during the forecast period. Zone 2: The largest part of the explosion-proof lighting market, divided by hazardous locations. Due to the increasing demand for Zone 2 explosion-proof lights in potentially explosive industrial environments such as oil and gas industries, it is expected that the Zone 2 segment of the explosion-proof lighting market will occupy the largest share during the forecast period. Chemicals. During the forecast period, the increase in offshore exploration and expansion projects in several countries including the United States, Canada, the United Kingdom, Norway and Saudi Arabia is expected to create lucrative opportunities for market participants. In addition, increase investment in the chemical industry in Canada, Germany and India to create new growth prospects for the explosion-proof lighting market. North America will dominate the explosion-proof lighting market in 2020, and the global market share will be divided by region in 2020. North America will dominate the explosion-proof lighting market in 2020. For example, Emerson (United States), Hubbell (United States) and GE Current (United States). Together, these participants accounted for more than 30% of the market share. In addition, a large number of companies are focusing on the exploration and production of oil and gas assets in the region. Therefore, as leading oil and gas companies such as Chevron (US) and ExxonMobil (US) are undergoing extensive expansion activities, the demand for explosion-proof lighting is expected to increase. In addition, strict government regulations regarding employee safety and the elimination of traditional lighting systems are driving the demand for expensive explosion-proof LED lighting systems. Breakdown of the profile of the main participants: • By company: Tier 1 = 30%, Tier 2 = 50%, and Tier 3 = 20% • By job title: C-level executive = 35%, Director = 25%, Others = 40% • By region: North America – 40%, Europe – 30%, Asia Pacific – 25% and the world – 5% The main players introduced in this report: The explosion-proof lighting market is dominated by major global companies such as Eaton ( Ireland), ABB (Switzerland), Hubbell (U.S.), Emerson (U.S.), Signify (Netherlands), GE Current (U.S.), Glamox (Norway), Phoenix Lighting (U.S.), R. STAHL (Germany), and Larson Electronics ( US). Research Scope This research report divides the global explosion-proof lighting market according to type (high bay and low bay, linear, floodlight), light source (LED, fluorescent lamp, other), safety level (class 1, 2, 3) Hazardous locations (Zone 1, Zone 2, Others), end-user industries (oil and gas, chemical and pharmaceutical, food and beverage, mining, energy and power, others) and regions (North America, Europe, Asia Pacific and platoons). The report also comprehensively reviewed the market drivers, constraints, challenges and opportunities related to the explosion-proof lighting market, as well as the value chain. The research also includes an in-depth competitive analysis of the major players in the market, as well as their company profiles, key observations related to product and business supply, recent developments, and key market strategies. The main benefits of buying the report The report will help market leaders/new entrants in this market provide the closest information on the overall explosion-proof lighting market and sub-segment revenue figures. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan appropriate listing strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, constraints, challenges and opportunities. Read the full report: About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you can get all the market research you need instantly in one place. __________________________