Global Explosion-Proof Motor Market Forecasted to Reach $5.5 Billion by 2034 with 4.4% CAGR
Newark, Delaware – The explosion-proof motor market is poised for significant growth, with an anticipated increase in size from US$ 3,602.2 million in 2024 to US$ 5,540.8 million by 2034. This surge is driven by the rising demand for these motors in the oil & gas exploration sector. As exploration efforts expand into more challenging environments and encounter explosive atmospheres, the need for equipment that can operate safely in such conditions becomes crucial. Technological advancements …