The global explosion-proof motor market size is forecast to increase from US$ 3,602.2 million in 2024 to US$ 5,540.8 million by 2034. Over the assessment period, global demand for explosion-proof motors is projected to surge at a CAGR of 4.4%.
Exploration efforts are stepping into more difficult environments and coming across explosive atmospheres as the world’s energy needs rise. This means that specific equipment that can endure these kinds of circumstances is needed in order to prioritize safety and maintain operational continuity.
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With the oil & gas exploration sector expanding, the demand for stainless steel flame-proof pumps is on the rise due to their ability to operate safely in hazardous conditions.
As exploration ventures push into more challenging environments to meet growing energy demands, the necessity for specialized equipment capable of withstanding harsh conditions becomes paramount. This ensures both safety and uninterrupted operational performance in the face of adversity.
Key Companies
- ABB
- Regal Beloit
- Siemens
- Auma Gmbh
- Emerson Electric Co.
- Rotork plc
- Exlar Corp
- Nidec
- Toshiba
- WEG
- Welco
- Bernard Controls
- Schneider Electric
- Nanyang Explosion Protection
- Jiamusi Electric Machine
- Xianda Explosion-proof
- Dazhong Electric Motor
Competitive Landscape
The global explosion-proof motor market is consolidated, with leading players accounting for about 40% to 45% share. ABB Group, Regal Beloit, Siemens, Auma GmbH, Emerson Electric Co., Rotork plc, Exlar Corp, Nidec, and Toshiba are the leading manufacturers and suppliers of explosion-proof motors listed in the report.
Key explosion-proof motor vendors are investing in continuous research for producing new products and increasing their production capacity to meet end-user demand. They are also showing an inclination toward adopting strategies, including acquisitions, partnerships, mergers, and facility expansions, to strengthen their footprint.
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Recent Developments in Explosion-proof Motor Market-
- In August 2022, BEN BUCHELE Elektromotorenwerke its new dKD280. It can be utilized across those industries that have an explosive gas atmosphere. The product can power radial and axial fans for air conditioning & ventilation, hydraulic power units, mooring winches, and pumps.
- In December 2022, Kollmorgen, a renowned motion control system manufacturer, declared that its explosion-proof Goldline EBH 480 Vac servo motor bagged IECEx/cETLus listing and ATEX certification. The approvals will enable the company to cater to the growing demand from end-users and offer in-motion control features.