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Electrical Explosion Proof Equipment Market size is set to grow by USD 12.17 billion from 2024-2028, Increasing demand for safety in industrial operations boost the market, Technavio

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NEW YORK, Aug. 14, 2024 /PRNewswire/ — The global electrical explosion proof equipment market size is estimated to grow by USD 12.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.64%  during the forecast period. Increasing demand for safety in industrial operations is driving market growth, with a trend towards rising focus on explosion prevention. However, planning and inspection challenges related to electrical explosion proofing  poses a challenge. Key market players include ABB Ltd., Atexxo B.V., BARTEC Top Holding GmbH, Eaton Corp. Plc, Emerson Electric Co., Extronics Ltd., Flexpro Electricals Pvt. Ltd., Honeywell International Inc., Miretti Srl, PATLITE Corp., Pepperl and Fuchs SE, Potter Electric Signal Co. LLC, R and M Electrical Group Ltd., R Stahl AG, Rockwell Automation Inc., Siemens AG, Supermec Pvt. Ltd., TRI FLP Engineers Pvt. Ltd., VIMEX, and WEG Equipamentos Eletricos S.A..

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Electrical Explosion Proof Equipment Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.64%

Market growth 2024-2028

USD 12178.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

11.73

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 57%

Key countries

China, US, Germany, India, and Russia

Key companies profiled

ABB Ltd., Atexxo B.V., BARTEC Top Holding GmbH, Eaton Corp. Plc, Emerson Electric Co., Extronics Ltd., Flexpro Electricals Pvt. Ltd., Honeywell International Inc., Miretti Srl, PATLITE Corp., Pepperl and Fuchs SE, Potter Electric Signal Co. LLC, R and M Electrical Group Ltd., R Stahl AG, Rockwell Automation Inc., Siemens AG, Supermec Pvt. Ltd., TRI FLP Engineers Pvt. Ltd., VIMEX, and WEG Equipamentos Eletricos S.A.

Market Driver

The importance of workplace safety in industrial settings has led to a heightened focus on explosion prevention. With the rising number of explosions causing significant damage and costs to industries, the adoption of electrical explosion proof equipment has become essential. Electrical explosions can result from sparks or electric arc flashes, which can cause extensive harm to equipment and result in downtime. To mitigate these risks and protect valuable assets, industries are increasingly investing in explosion proof equipment. This trend is expected to drive the growth of the global electrical explosion proof equipment market during the forecast period. 

The Electrical Explosion Proof Equipment Market is experiencing significant growth due to increasing demands in industries with high risks of explosions, such as petrochemical and mining sites. Installation costs are a key consideration, driving the demand for flameproof enclosures and flameproof low-voltage motors. The mining profession faces a high risk of fatalities, leaks, and toxic substance exposure, making explosion prevention a top priority. Combustible dust, common in the chemical sector, is another major concern. Manufacturing equipment, machine tools, and processed food products in value-added food categories also require explosion-proof solutions. The oil & gas and mining industries are major consumers, with a focus on junction boxes, explosion containment, and flame arrestors. Wireless connectivity services, electrification, motion control, industrial automation, robotics, and discrete automation are also driving market growth. Energy extraction and fuel extraction industries are adopting integrated systems for explosion prevention. 

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Market Challenges

In the industrial sector, installing explosion-proof equipment is a crucial safety measure. For end-users, careful planning is essential. They must determine the appropriate explosion-proof equipment types and coverings based on their specific industrial requirements. Any oversight in planning can lead to incorrect installations and unnecessary expenses. Vendors, too, play a vital role in this process. They must inspect industries to recommend suitable explosion-proof equipment. Negligence in planning or inspection can result in financial consequences for end-users, including the need for new equipment or increased maintenance costs. The challenges of effective planning and inspection continue to pose significant expenses for global electrical explosion-proof equipment market participants and may hinder market expansion during the forecast period.The Explosion Proof Equipment Market caters to industries with potential hazardous environments, such as oil & gas and mining. Challenges include explosion prevention through electrical enclosures, flame arrestors, and explosion containment. Electrification in industries like automation, robotics, and motion requires explosion-proof junction boxes, wirelessly connected services, and integrated systems. Government rules mandate safety devices for handling gas or vapor in hazardous regions. Tier 2 and 3 manufacturers produce electrical and non-electrical fixtures, apparatus, and equipment for various industries, including oil & gas, mining, aerospace, construction, HVAC, lighting, and surveillance. Lack of standardization poses a challenge, but safety devices like AC and DC motors, pumps, compressors, and blowers help mitigate risks from workplace mishaps, such as mine explosions. Industries must prioritize environmental safety and invest in reliable explosion-proof equipment.

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Segment Overview 

This electrical explosion proof equipment market report extensively covers market segmentation by  

Application 1.1 Industrial1.2 Non-industrialType 2.1 Flame-proof type2.2 Increased safety type2.3 Intrinsic safety type2.4 Positive-pressure type2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Industrial-  The global electrical explosion proof equipment market is poised for steady growth in various industries, including power, electronics, automotive, food and beverages, and chemical, due to increasing industrial automation and safety concerns. In the power industry, the rising demand for electricity and the shift towards renewable energy sources are driving the need for electrical explosion proof equipment. The electronics industry’s growing adoption of consumer electronics, such as smartphones and laptops, necessitates the use of explosion-proof equipment for operational safety. In the automotive industry, the expansion of manufacturing plants and the increasing demand for electric vehicles necessitate the implementation of electrical explosion proof equipment to ensure safety. The food and beverages industry requires electrical explosion proof equipment to prevent disruptions caused by unexpected explosions, especially due to the risk of flammable liquids coming into contact with electrical wires. Lastly, the chemical industry, while primarily experiencing chemical and mechanical explosions, still requires electrical explosion proof equipment to mitigate the risk of electrical ignition of flammable gases. Overall, the rising demand for industrial automation and safety measures across various industries will fuel the growth of the electrical explosion proof equipment market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

India’s electrical equipment market is experiencing robust growth, driven by increasing industrialization and urbanization. Key segments include transformers, switchgear, and cables, supported by government initiatives like “Make in India” and the push for smart grids and renewable energy. Major players such as BHEL, Siemens, and ABB dominate the landscape, focusing on innovation and sustainability to meet rising domestic and export demands.

Research Analysis

The Electrical Explosion Proof Equipment (EX Equipment) market caters to industries with potential explosive hazards, ensuring explosion prevention through specialized electrical enclosures, flame arrestors, and explosion containment systems. The oil & gas industries and energy & power sectors are significant consumers due to their hazardous environments. Electrification and automation in industrial sectors further drive market growth. Integrated systems that combine electrical and non-electrical fixtures, along with wireless connectivity services, are gaining popularity. Government rules and regulations in hazardous handling regions mandate the use of EX Equipment in industries such as oil & gas production, pharmaceuticals, and chemicals. EX Equipment includes various apparatus designed to handle gas or vapor explosions, ensuring safety in high-risk applications.

Market Research Overview

The Electrical Explosion Proof Equipment Market caters to industries with potential explosive hazards, focusing on explosion prevention through electrical enclosures, flame arrestors, and explosion containment. Key applications include oil & gas industries, mining, and the automation industry. Wireless connectivity services, electrification, motion control, and industrial automation are driving market growth. Equipment includes junction boxes, generators, integrated systems, and various types of motors, such as AC, DC, and low-voltage motors. Tier 2 and tier 3 manufacturers produce flameproof apparatus for handling gas or vapor, combustible dust, and other hazardous materials in sectors like aerospace, chemical, and manufacturing. Government rules and workplace mishaps, such as mine explosions, necessitate safety devices like flameproof electrical fixtures, non-electrical fixtures, and safety devices. Industries like petrochemical, mining, and the energy extraction sector face challenges like lack of standardization and high installation costs. The market also serves industries dealing with natural resources like coal reserves, and hazardous handling regions in construction sites, HVAC systems, lighting, surveillance, signaling techniques, and various industrial sectors. Safety devices are crucial in preventing workplace accidents, fatalities, leaks, and toxic substance exposure. Equipment includes pumps, compressors, blowers, and various types of motors, such as AC, DC, and low-voltage motors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIndustrialNon-industrialTypeFlame-proof TypeIncreased Safety TypeIntrinsic Safety TypePositive-pressure TypeOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Leoguar Electric Bike Makes Christmas Unforgettable with Exclusive Holiday Offers

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HOUSTON, Dec. 25, 2024 /PRNewswire/ — As the holiday season draws near, Leoguar is excited to offer exclusive deals on their range of electric bikes, bringing families together for memorable moments. With a collection designed to combine fun and fitness, this Christmas is the perfect time to gift an unforgettable experience.

“This Christmas, we’re inviting families to rediscover the joy of outdoor exploration. Our bikes help you bond, stay active, and make the most of every moment,” said the Leoguar COO.

Leoguar’s holiday lineup offers premium e-bikes for every rider, now with unbeatable deals: 

Flippo Folding eBike: A lightweight, foldable ride perfect for urban commutes. Upgrade to the Flippo Pro for enhanced performance with a torque sensor for smoother rides.

Fastron Fat Tire eBikes: Built for rugged terrains, the Fastron features a durable, rugged build, and speeds up to 28 MPH, making it the perfect choice for adventurous riders.

Zephyr Beach Cruiser eBikes: Crafted for effortless coastal cruising, the design combines style and comfort, featuring a comfort saddle that ensures a smooth, seamless ride.

Sprint Utility eBike: A versatile, practical choice featuring a sturdy frame and passenger seat, perfect for errands or leisure.

Trailblazer EMTB: Designed for tough off-road trails, the model features a 500W mid-drive motor, offering powerful performance, extended range, and excellent climbing ability.

To make this holiday gift even sweeter, all Leoguar bikes come with free shipping and a two-year warranty for worry-free riding. Additionally, customers can join the holiday giveaway to win prizes like $59 bottle holders, or even a free e-bike!

Leoguar bikes cater to all experience levels, offering comfort and a seamless riding experience. They promote health benefits like improved fitness and stress relief while creating lasting memories on scenic rides.

“Whether it’s cruising the city streets, riding mountain trails, or relaxing by the beach, a Leoguar electric bike is the ideal Christmas gift,” the COO added. “This holiday season, choose a cycling gift that will last for years to come — there’s no better way to kick off the new year.”

To check out the full collection and take advantage of these limited-time offers, visit www.leoguarbikes.com

About Leoguar:

Leoguar is an eco-conscious e-bike brand founded by Johnny, an engineer with decades of industry expertise. Combining innovation, agility, and power, Leoguar delivers high-quality electric bikes designed for adventure, sustainability, and individuality.

Media contact: lily@leoguarbikes.com 

 

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SOURCE Leoguar Electric Bikes

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2024 Financial Oscars: Waton Securities International Honored as “Outstanding Digital Empowerment Institution” of the Year

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SHENZHEN, China, Dec. 25, 2024 /PRNewswire/ — In early December, at the 18th Huaxia Institutional Investor Annual Conference of 2024, the 18th Golden Cicada Awards were announced. Waton Securities International was awarded the “Outstanding Digital Empowerment Financial Institution of 2024” for its significant achievements in securities brokerage and fin-tech sector.

The selection for the “Outstanding Digital Empowerment Financial Institution” focused on evaluating companies based on financial performance, market competitiveness, customer recognition, digital strategy planning and implementation, digital transformation outcomes, and risk control capabilities. Particularly, it highlighted cases that have made significant strides in digital empowerment.

The evaluation also emphasized the outstanding performance of financial institutions in their own digital transformation and the sound risk control abilities demonstrated during this process, ensuring that while pursuing innovation, companies can effectively manage and control risks. Waton Securities International distinguished itself among the contenders with its sophisticated technology platform, well-defined digital strategy, substantial transformation achievements, and commendable risk control mechanisms.

Established in Hong Kong in 1989, Waton Securities International has steadily grown with a deep understanding of professional financial services and regulatory compliance. It has obtained licenses 1/4/5/9 from the Hong Kong Securities and Futures Commission, becoming a fully licensed brokerage with comprehensive financial service qualifications. Through continuous technological innovation and digital transformation, it has successfully built a one-stop brokerage cloud service platform, promoting advanced digital financial technology globally. Its pioneering SaaS product, “Broker Cloud”, allows corporate clients to independently deploy and operate high-performance digital customer information management and trading systems without their own IT teams. The solution is relatively low-cost and adaptive to industry, which is the core competitiveness of Waton Securities International.

Data reveals that of the 1,100 securities firms in Hong Kong, approximately 600 are actively trading, yet fewer than 50 have developed their own mobile applications. On a global scale, among the 30,000 securities companies, only a handful—less than 300—feature brokerage trading Apps in App stores. This underscores a significant market demand for the digital enhancement of the securities sector.

With the swift growth of technologies like generative AI LLMs, blockchain, big data, and cloud computing, the securities industry can use these tools to streamline trading strategies, assess risks more accurately, and forecast market trends. These technologies also help the industry to move towards more integrated, platform-focused, and digital operations. The main goal of technology in finance is to increase the efficiency of financial institutions. A good starting point for applying technology is to focus on financial services and build a solid technical foundation for these institutions.

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SOURCE Waton Securities

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Mega Matrix Announced that the English Version of “Getting Even: The Secret Prodigy’s Playbook” Now Streaming on FlexTV

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SINGAPORE, Dec. 25, 2024 /PRNewswire/ — The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy’s Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist’s journey of rebirth and empowerment to rewrite her destiny.

Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family’s adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.

Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby’s schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.

FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy’s Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist’s growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.

#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Corp.

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