The global fire and explosion proof lights market is anticipated to be worth US$ 363.80 Mn in terms of revenue in 2022. The market is projected to expand at a CAGR of 7% to reach a market size of US$ 715.65 Mn by 2032. Huge reliance on petroleum product is creating the new opportunities for off shore oil production which is turn is expected to be a major driver for the global fire and explosion proof lights.
Fire and explosion proof lights are generally used in the oil and gas industry where mostly highly flammable and volatile matters are handled. In fire and explosion proof lights, apparatus is enclosed in the cage, and the cage is capable of withstanding any explosion of gas or vapor that may occur inside it and prevent the surrounding from potential fire. Fire and explosion proof lights find its application in oil field, chemical industry, off shore oil and gas station, petrochemical industry, power station, mining industry, police, military, rescue relief, inspection, etc.
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Global Fire and Explosion Proof Lights: Market Dynamics
Maintaining the off shore oil rig (operating day in and day out) creates the demand for illumination and lighting equipment in harsh condition of marine environment. Furthermore, the presence of highly flammable and volatile petrochemicals creates demand for fire and explosion proof lights. Increasing number of off shore oil and gas stations is expected to drive the demand for fire and explosion proof lights, thus driving the global fire and explosion proof lights market. Replacement of fire and explosion proof lights in existing energy infrastructure is also expected to drive the demand for fire and explosion proof lights.
Recent trend includes incorporation of powder coated aluminum housings, stainless steel, brass, high impact nylon polymers, heat resistant silicone gaskets, and watertight connectors to make fire and explosion proof lights more reliable and safe. Furthermore, manufacturers are using LED for fire and explosion proof lights to make it more energy efficient.
Global Fire and Explosion Proof Lights Market: Segmentation
On the basis of product type, fire and explosion proof lights market can be segmented in to fire and explosion proof string lights, fire and explosion proof hand lamps, fire and explosion proof flash lights, fire and explosion proof tank lights, etc.
On the basis of end use industry, fire and explosion proof lights market can be segmented in to oil and gas industry, power industry, chemical sector, mining industry, and others.
Global Fire and Explosion Proof Lights Market: Regional outlook
Global fire and explosion proof lights market can be segmented into five major geographical regions as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Middle East and Africa is estimated to be the most dominant region in the production of oil and gas and hence, contributes major share to the global fire and explosion proof lights market. Stringent government regulation regarding installation of lighting system in hazardous work place in North America and Europe is anticipated to augment the demand for fire and explosion proof lights in this region.
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Global Players:
Major players identified in the manufacturing of fire and explosion proof light includes Hubbell Ltd, Larson Electronics, Nordland Ligthing, Zhejiang Tormin Electrical Co.,Ltd., R. STAHL, Inc., PETRO MIDDLE EAST, Eaton, Brite Strike Technologies SA among others.
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