Flame Arrestors Market with statistics and Growth Prediction 2017 to 2023

The global flame arrestors market was valued at USD 677.1 million in 2017 and is projected to reach USD 924.7 million by 2023, at a CAGR of 5.31% during the forecast period. Stringent industrial safety norms and regulations and increasing oil & gas activities in North America are driving the flame arrestors market globally.

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Objectives of the Study

• To define, describe, and forecast the flame arrestors market by type, application, end-user, and region
• To provide detailed information about the major factors influencing the growth of the flame arrestors market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the flame arrestors market with respect to individual growth trends, future projections, and the contribution of each segment to the market
• To track and analyze competitive developments such as contracts & agreements, new product launches, investments and expansions, mergers & acquisitions, and partnerships and collaborations in the flame arrestors market
• To profile key players and comprehensively analyze their market ranking and core competencies

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The points given below explain the research methodology.

• Study of the annual revenue and market developments of major players that provide flame arrestors
• Assessment of future trends and growth of end-users
• Assessment of the flame arrestors market with respect to the type of module used by different end-users
• Study of contracts and other developments related to the flame arrestors market by key players across different regions
• Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chain, and annual revenues of companies offering flame arrestors across the globe

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Rapid growth of manufacturing sector in the Asia Pacific region

The growth of the manufacturing sector in the Asia Pacific region is one of the biggest opportunities for the flame arrestors market. Countries such as China, India, and Indonesia are witnessing rapid growth in the manufacturing sector, especially, petrochemical, pharmaceutical, textiles, and heavy industries. China, the largest economy of the region, has a robust manufacturing sector, which contributed almost 30% toward the country’s GDP in 2016. The International Monetary Fund (IMF), in 2017, upgraded China’s economic growth rate to 6.5%, from an earlier estimate of 6.2%. The growth of the manufacturing sector in these regions provides tremendous opportunities for the hazard protection equipment such as flame arrestors, particularly in the pharmaceutical and chemical industries.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues