According to a study conducted by ElectroniCast Consultants, explosion-proof lighting with light-emitting diode (LED) technology is slated to be worth $787.7 million in 2026. The global consumption value will grow at a rate of 2.15 percent and increase to $743.6 million in 2021, up from $668.6 million in 2016.
The study forecasts the growth will then continue at a slower pace (1.16 percent) and hit $787.7 million in 2026. The increase is caused by a faster-rising quantity growth, which is slightly offset by declining average selling prices.
Explosion-proof lights (also known as hazardous location lighting and intrinsically safe lights) are certified in accordance with and compliant to international regulative and safety standard bodies for use in areas where extremely volatile, flammable petrochemical vapors and/or pulverized dust exist or have the potential to exist. All it takes is a single spark to cause an explosion. A variety of lights are considered explosion-proof because they prevent any possible ignition sources from being exposed to the air.
During this market research, ElectroniCast Consultants also studied more than 70 lighting manufacturers with a range of hazardous area lighting products suited to use in high-risk areas.
The market forecast is segmented into product types:
- spot, flood, and general-area;
- linear (tube and string/strip);
- small portable-type (flashlights and wearable headlight); and
- specialty, panel, and miscellaneous.
The specialty, panel, and miscellaneous category is forecast to increase at the fastest pace, with an average annual growth rate of 12.85 percent. “This relatively fast growth is mainly attributed to the fact that we expect manufacturers to react and design a LED-based solution to a lighting situation already served by legacy technology,” stated the report’s authors.