Market Trends of Asia-Pacific Explosion Proof Equipment Industry
This section covers the major market trends shaping the APAC Explosion Proof Equipment Market according to our research experts:
The Oil and Gas Industry to Show a Significant Growth
- In the oil and gas industry, explosion proofing has two requirements: equipment must be manufactured to the appropriate standards, then installed and maintained in accordance with additional standards. Also, employees in the oil and gas industry are frequently required to work in dangerous environments. Safety is significant in situations where flammable liquids, gases, vapors, or combustible dust are present in substantial amounts.
- The market is witnessing various innovations to assist customers in the construction, operation, optimization, and enhancement of their assets daily and providing alternative electrical solutions in more hazardous situations. For instance, in August 2020, KVC Industrial Supplies aided one of Pahang's largest oil and energy businesses in improving their plant's lighting to be 100% explosion-proof. Also, Crouse-Hinds' internationally acclaimed explosion-proof grade LED KVC installed linear light fittings solutions.
- One of the most significant advancements in explosion-proof camera technology is the advent of low voltage IP-based cameras for housings. There are new opportunities afforded by fixed PoE+ cameras that can drastically reduce costs compared to traditional high power 110V AC installations that require additional infrastructure and staff to install them. PoE+ cameras also represent advancements over traditional 24-volt systems that require power supplies and the appropriate explosion-proof boxes to contain them.
- As the industry moves forward, there is a strong desire to install more PoE+ PTZ dome cameras whenever possible, thus, enabling integrators to run a single ethernet cable to the camera and have sufficient distance from the danger zones so that any supporting equipment, such as a PoE+ switches or injectors, can be installed normally in the oil and gas sector.
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China to Hold the Highest Market Share
- China is one of the leading producers and exporters of manufacturing equipment and machine tools worldwide. The surge in manufacturing activities over the last decade increased the production of equipment and tools. Therefore, this growth is impacting the rate of adoption of explosion-proof equipment.
- The increasing adoption of automation in manufacturing processes is further expected to drive the demand for explosion-proof solutions. Additionally, at many industrial and manufacturing plants, personnel periodically perform field inspections by patrolling along defined routes and checking field instruments at specific points along the way to keep facilities and equipment safe and in good working order.
- Due to increasing productivity demands, allied pressure brought about changes to the underlying infrastructure, processes, and technology in the manufacturing industry. Such industry trends are expected to increase the scope of adopting explosion-proof equipment.
- Moreover, according to the IEA, China is expected to account for 280 billion cubic meters of global natural gas demand by 2040. It is also likely to overtake the United States as the top oil consumer, by 2030, with net imports of 13 million barrels per day, by 2040. The country had previously committed to achieving its target in carbon emissions around 2030 and reaching carbon neutrality by 2060, which necessitates a sharp increase in the adoption of clean energy and a reduction in China's reliance on fossil fuels. This indicates an increased number of projects being implemented in the coming years.
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