NEW YORK, Aug. 30, 2021 /PRNewswire/ — According to the latest market research report on Electrical Explosion Proof Equipment Market from Technavio, the market is expected to expand at a healthy CAGR of 11.13%. The growth can be mainly attributed to the increasing demand for safety in industrial operations.
COVID-19 Impact Analysis on Electrical Explosion Proof Equipment Market can now be gained through our report. Download Free Sample Now!
The pandemic-focused report highlights the impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior during 2020. Technavio analysts have curated the reports extensively through both qualitative and quantitative research methodologies to derive the most industry-relevant and business-relevant outcomes.
Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.
The recovery process involves various phases including:-
- Recognizing the existing business model
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Emerging Opportunities with Key players
The company offers different types of electrical explosion-proof equipment such as hazardous area lighting UL, hazardous area cable glands, and others. The company’s key business segments include electrification, industrial automation, motion, robotics and discrete automation, and corporate and others.
Eaton Corporation Plc
The company offers electrical explosion-proof equipment under the brand name EJB Explosionproof Enclosures. They operate in key business segments including electrical products, electrical systems and services, hydraulics, aerospace, vehicle, and Emobility.
Emerson Electric Co.
The company offers electrical explosion-proof equipment for enclosures and junction boxes. They operate in key business segments including automation solutions, commercial and residential solutions.
Get a report snapshot here to attain market share analysis of market participants during COVID-19 lockdown:
Electrical Explosion Proof Equipment Market 2021-2025: Segmentation
Electrical explosion proof equipment market is segmented as below:
- North America
- South America
The electrical explosion-proof equipment market is driven by increasing demand for safety in industrial operations. In addition, other factors such as preventing loss of work hours due to potential hazards, and emerging safety regulations for explosion proofing of electrical equipment are expected to trigger the electrical explosion proof equipment market toward witnessing a CAGR of over 11.13% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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