PORTLAND, Oregon and PUNE, India, November 28, 2016 /PRNewswire/ -- According to a new report published by Allied Market Research, titled, "Explosion Proof Equipment Market by Industry Vertical, Applicable System, Protection Method, Geography - Global Opportunity Analysis and Industry Forecasts, 2014 - 2022," projects that the global explosion proof equipment market is estimated to reach $8,217 million, registering a significant CAGR of 9.3% during 2016 to 2022. North America is expected to dominate the global market throughout the analysis period, registering a notable CAGR of 8.4%. (Logo: http://photos.prnewswire.com/prnh/20140911/647229 ) The market is driven by factors such as increased safety concerns, growth in industrial sector, rise in automation sector, and stringent government regulations. However, lack of standardization restricts the market growth. Summary of the Explosion Proof Equipment MarketReport can be accessed on the website at:https://www.alliedmarketresearch.com/explosion-proof-equipment-market The usage of spark-resistant devices, automated systems, monitoring and signaling devices among others prevents sparks in explosion-prone industries including oil & gas, manufacturing, and others. Therefore, some of the top-notch players, such as R. Stahl AG, BARTEC Group, and Extronics Ltd. among others have focused on manufacturing equipment using non-flammable materials for heavy industries to reduce sparks generated by friction. The explosion-prone industries based out in North America need to comply with the NEC standard, which defines the design and development of equipment on the basis of class, division, and group system. Similarly, ATEX or IEC standards are followed in Europe, which segregates an area on the basis of zone. These systems follow a similar modus operandi, and demarcate hazardous areas that are prone to explosive materials apart from assigning the category of equipment that need to be used in such locations. An ATEX-compatible HVAC system offered by Intertek ensures high safety of labor and automatic climate control system. The system is best suited for oil & gas refineries, petrochemical, and manufacturing plants, as it regulates the atmospheric pressure to prevent the entry of dust or gas. Exposure to flammable gases, contact with harmful substances, and release of hydrocarbon are some of the factors that make oil & gas industry one of the most hazardous sectors. Therefore, the oil & gas sector generated the highest revenue share of 18% in 2015, owing to high adoption of ignition-resistant products and equipment, and is estimated to grow at a prominent CAGR of 10.3% during the forecast period.