Global Explosion Proof Motors Market Analysis & Forecast (2018-2022): Trends, Drivers and Challenges - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 13, 2018--The “Global Explosion Proof Motors Market 2018-2022” report has been added to ResearchAndMarkets.com’s offering.
The Global Explosion Proof Motors Market is projected to grow at a CAGR of 3.99% during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend affecting this market is the emergence of compact explosion proof motors. The implementation of stringent regulations on the safety of equipment operated in harsh environments has pushed vendors to increase the safety of their explosion proof motors. Vendors are focusing on offering compact explosion proof motors that can be integrated with the direct online (DOL) and variable frequency drive (VSD) operations.
According to the report, one driver influencing this market is the growth in investments in chemical and petrochemical industry. The demand for explosion proof motors from the chemical and petrochemical industry increased in 2017. This was due to the growth in investments, significant number of projects in developing countries such as India, Indonesia, and Brazil, and the increasing number of M&A.
Further, the report states that one challenge affecting this market is the fluctuating prices of raw materials. Instability in the prices of raw materials affect the cost of production. Hence, many key vendors have long-term contracts with suppliers to reduce the impact of the fluctuation in the prices of raw materials on their businesses. However, small vendors do not have such contracts. Hence, such fluctuations affect their business.
Key VendorsABB General Electric Rockwell Automation Siemens WEG
Key Topics Covered
1. Executive Summary
2. Scope of the Report
3. Research Methodology
4. Market Landscape
5. Market Sizing
6. Five Forces Analysis
7. Customer Landscape
8. Market Segmentation by End-User
9. Regional Landscape
10. Decision Framework
11. Drivers and Challenges
12. Market Trends
13. Vendor Landscape
14. Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/b6n8wm/global_explosion?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180613005888/en/
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SOURCE: Research and Markets
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PUB: 06/13/2018 12:10 PM/DISC: 06/13/2018 12:10 PM