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(USGovernment-News.Com, July 07, 2024 ) As per Maximize Market research, Explosion Proof Equipment size was valued at US$ 8.77 Bn. in 2023 and the total revenue is expected to grow at 5.1% through 2024 to 2030, reaching nearly US$ 12.43 Bn.
Europe held 33.6% market share of Explosion Proof Equipment Market I 2023. Increased manufacturing cost, purification of ferrous and non-ferrous metals, and leading oil business are growth factors responsible for this. Middle East saw growth driven by the leading oil business in the region.
The market experiences growth by increased industrial explosions, safety regulations, advancements in various sectors, rise in energy consumption, sector advancements, and toxic gas management as per government regulations. Volatility of the mining sector and safety risks remain few of the major hurdles.
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Global Automotive Retail Market size was valued at USD 3.66 trillion in 2023 and the total Global Automotive Retail revenue is expected to grow at a CAGR of 7.15 % from 2024 to 2030, reaching nearly USD 6.22 trillion.
Automotive Manufacturing Equipment Market size is valued at USD 7.5 Billion in 2023 and is forecast to grow at a CAGR of 11.3% from 2024 to 2030, reaching nearly USD 15.87 Billion
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