Explosion panels, most commonly known as explosion vent or rupture panels, are designed to protect buildings or equipment with high combustible dust propagation by pressure relief. Once the pressure reaches its rupture line, the activation panels activate automatically, providing a pathway for deflagration hazards to discharge safely. These panels are suitable for all sizes of vessels as these vents can open with almost no inertial force. Another advantage it provides is that it is easy to replace, reusable, and resistant to negative pressure. All such features surge the demand for industrial safety equipment in the automotive, construction, and oil & gas industries.
As per Business Research Insights, the market size of explosion panels will rise at a CAGR of 11.85% during the forecast period. In 2020, the market value stood at USD 5,735.2 million.
Business Research Insights highlights the top 8 companies.
1. Fike (Italy)
Founded in 1945, Fike is an industrial machinery manufacturing firm that offers various services such as fire alarm systems, fire suppression solutions, and explosion protection intending to provide all safety equipment under one roof. The firm's highly skilled workforce builds precision-engineered designs with an aim to offer comprehensive customized service for businesses worldwide.
2. Vigilex (India)
Vigilex is an Indian-based firm that was founded in 1962 and headquartered in Spain. The company has set its reputation in designing explosion isolation valves and explosion vent panels and serves its technology to almost 60 countries worldwide. The company is equipped with modern-day technologies to overcome all the hazardous activities that happen anytime in a workplace.
3. Elfab (U.K.)
Founded in 1946, Elfab is a privately-held firm established in the U.K. The company is well known for its commitment to serving customers in the areas like explosion vents and burst detection systems and provides consultation services, tailored product design, project support and training, and rupture discs.
4. ZOOK (U.S.)
ZOOK is an American company founded in 1940. It is a global leader in the manufacturing of other pressure relief products and high-quality metal & graphite rupture disks. The firm is very much dedicated to spending on the latest technologies to stay competitive in the marketplace with an aim to offer comprehensive solutions.
5. Donadon SDD (Italy)
Founded in 1950, Donadon SDD is a privately-held firm and a leading manufacturer of explosion panels for safety equipment. Using alloys like titanium, nickel, and stainless steel materials, the firm creates new values to meet customer needs, creating more chances to establish its footprints in the marketplace.
6. IEP Technologies (U.S.)
IEP Technologies is one of the leading explosion panel providers established in America and was founded in 1956. The company provides intelligent combustible dust explosion panels that can detect any fraudulent activity during the operation, which helps in protecting against the threat of devastating explosions.
7. REMBE GmbH (Germany)
REMBE GmbH is a privately held firm that was established in 1973. The firm offers the best safety solutions in a wide range of industries around the world. The company has a team of experts who work on improving product quality to monitor the task's details accurately. The company has introduced the toughest bursting disc, which can handle enormous pressure and create a niche in the market.
8. Oseco (U.S.)
Founded in 1946, Oseco is a privately-held firm established in the U.S. The organization deals in various activities such as fire safety & explosion protection, rupture (bursting) discs, explosion panels (vents), burst detection systems, rupture disc plugs, rupture disc holders, wireless detection systems, pressure relief solutions, pressure management & safety, and chemical processing & petrochemical intending to provide a cleaner and safer world.
Rising Safety Concern in Industrial Operations Fuels the Market Development
Due to the rising prevalence of industrial activities and the growing development and production of oil & gas refineries, the demand for explosion panels rose. Also, advancements in power generation technologies and rise in safety concerns in industrial operations are likely to boost the market's progress. Furthermore, new market opportunities are expected to open up in the healthcare sector due to the rising awareness of such safety devices.