Chan Ye Xin Xi Wang·2025-07-10 01:38Core Viewpoint - The explosion-proof equipment industry in China is experiencing stable growth driven by increasing demand in the oil, chemical, and coal industries, despite a slowdown in overall economic growth. The industry has matured from initial technological exploration to a stable phase, with a significant number of patents filed, indicating ongoing innovation and market potential [1][6][20]. Group 1: Industry Definition and Classification - Explosion-proof equipment is designed for safe operation in flammable and explosive environments, preventing ignition from internal or external sources [2]. - It can be classified based on explosion-proof principles (e.g., isolation type, increased safety type) and hazardous environments (e.g., gas, dust) [2]. Group 2: Current Industry Status - The global market for explosion-proof equipment reached $7.9 billion in 2022 and is projected to grow to approximately $8.59 billion by 2024 and $8.93 billion by 2025 [4]. - In China, the demand for explosion-proof electrical equipment remains strong, with a total of 824 patents filed from 2016 to 2024, peaking at 151 in 2018 [6][4]. Group 3: Industry Value Chain - The upstream of the explosion-proof equipment industry involves raw materials such as metals and non-metals, while the midstream focuses on research and production [8]. - The downstream applications include sectors like oil and gas, coal mining, pharmaceuticals, and dust processing [8]. Group 4: Competitive Landscape - The competition in the explosion-proof equipment industry is primarily based on product technology, quality, safety records, and after-sales service [10]. - Major companies include Huaron Technology Co., Ltd., Shenzhen Ocean King Lighting Technology Co., Ltd., and Electric Light Technology Co., Ltd., which dominate the market due to their product and technological advantages [11][14]. Group 5: Company Performance - Huaron Technology Co., Ltd. reported a revenue of 2.316 billion yuan and a gross margin of 56.52% in 2024, with a focus on expanding into new markets such as food and pharmaceuticals [16]. - New Dawn Technology Co., Ltd. achieved a revenue of 129 million yuan and a net profit of 53 million yuan in 2024, emphasizing its commitment to technological innovation and safety [18]. Group 6: Future Industry Trends - The explosion-proof equipment industry is expected to continue its stable growth trajectory, with trends moving towards high-end, digital, and intelligent solutions [20].