Explosion-Proof Equipment Market Trends, Growth and Forecast Analysis to 2028
The explosion-proof equipment market is expected to grow from US$ 8,037.29 million in 2021 to US$ 12,272.30 million by 2028; it is estimated to grow at a CAGR of 6.2% during 2021–2028. With the increase in incidents/accidents in various industries (such as mining and oil & gas), the focus on industrial safety measures has also expanded worldwide. According to the article published by The Hindu Magazine, in August 2020, the state government of Andhra Pradesh (India) is contemplating on bringing in a new industrial safety policy to prevent accidents, which of late, have been taking place at regular intervals. A special drive was conducted in industries to inspect the safety measures. The new industrial safety policy should be implemented, and the existing safety regulations need to be under its purview. Similarly, according to the article published by Business Standard, in September 2021, the Department for Promotion of Industry and the Internal Trade of In...