Explosion vent, also known as rupture panel, is a safety device installed to protect equipment or building premises against the excessive internal, explosion incurred pressures, by the means of pressure relief technique. The explosion vent activates and releases its pressure as soon as its opening pressure exceeds the ambient pressure. Explosion vents are the one of the cost-effective method to mitigate the consequences of gas or dust explosions and are designed for venting of deflagrations.
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Explosion Vents Market: Dynamics
The key driving factor for the global explosion vents market are the continuously evolving power sector and mineral processing sector, which has resulted in an increased demand for explosion vents across all major developing economies. The macroeconomic factors, such as booming industrial activities and upgradation in conventional power generation technology along with an increase in safety procedures and regulations for industries in many countries, which is further enhancing the sales for explosion vents. The significant increase in demand for explosion vents due to the rising safety concerns about safe industrial operations is highly anticipated to drive the global explosion vents market. Prominent industrial sectors such as power, oil & gas, petrochemical and mining needs to comply with safety and environmental regulations, which is further augmenting the sales of explosion vent. The installation of explosion vents can alert personnel, when toxic gas levels are raised beyond approved limits. Furthermore, growing awareness among plant owners and employees about occupational hazards is anticipated to have an optimistic influence on market growth. Safety standards institutes such as, Occupational Safety & Health Administration (OSHA), American Society for Testing and Materials (ASTM), European Committee for Standardization (CEN) and International Organization for Standardization (ISO) promotes & imposes strict regulations over the utilization of fire safety equipment. All these factors are further anticipated to promote the wide scale utilization of explosion vent across all end-use sectors. The key restraining factors, such as high cost and complex installation process of explosion vents may hinder the global explosion vents market growth over the forecast period.
Flat panel explosion vents are held for a maximum share in 2018, whereas, domed explosion vents are expected to grow at a phenomenal rate over the forecast period. On the other hand, among end-use sector segment, the power generation segment is anticipated to see substantial market growth over the forecast period, attributed to increasing power generation and rise in safety awareness across all major power generation sector.
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Explosion Vents Market: Prominent players
Prominent players for the global explosion vents market are Fike Corporation, ZOOK Enterprises, LLC., Elfab Ltd., BS&B Safety Systems, L.L.C., STIF France, Halma plc, Construction Specialties, Inc., Muller Beltex B.V., RSBP Ltd., Euratex, CV Technology, Air Seperation Technologies Inc., REMBE and CMC Technologies Pty Limited, among other key market players. The explosion vents market consists of well-diversified global and regional players with the regional vendors ruling their respective regional market.
The research report presents a comprehensive assessment of the Explosion Vents market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Explosion Vents market report provides analysis and information according to market segments such as product type, size, gasket type, and end use sector.
Explosion Vents Market: Regional Outlook
The global explosion vents market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, and South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, East Asia is projected to account for a noteworthy market share due to presence of significant industries. South Asia is anticipated to witness a high growth in the global explosion vents market owing to the rise in industrial activities. Furthermore, MEA and Latin America is projected to showcase most optimistic growth in the global explosion vents market due to the rise in the industrial activity coupled with a surge in oil & gas exploration & production across the region. Europe and North America are one of the key developed regions that will create worthy opportunity in the global explosion vents market over the forecast period due to the existence of significant core industries and robust infrastructure.
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This post was originally published on Space Market Research