Global Arc Flash Protection System Market Size, Share, Trends to 2023
Posted by Anvi on February 5th, 2020
Global Arc Flash Protection System Market Analysis
The Global Arc Flash Protection System Market is predicted to grow at a 5% CAGR over the forecast period (2018-2023), reveals the latest Market Research Future (MRFR) report. Arc flash protection equipment and system are used for detecting and mitigating arc flash hazards, resulting from corrosion or deterioration of equipment, and also other causes such as faulty installations, material failure, and dust. Arc flash protection equipment includes gloves, helmets and visors, polo shirts and waterproof shirts, switching hoods/suits, jackets and trousers, coveralls, and accessories. An arc flash protection system is a necessity in all electrical switchboards for operator safety and, above all, minimizing the damages related to arc flash events.
Various factors are pushing the growth of the arc flash protection system market. These factors, in accordance with the Market Research Future (MRFR) report, include arc flash regulations from OSHA and NFPA, growth of the manufacturing sector in South East Asia, growing investments in the electrical network, and replacement of current electrical safety equipment with smart and modern safety devices. Additional factors pushing the market growth include growing awareness regarding electrical safety, worldwide growth in electrical component manufacturing, and stringent rules laid down by governments to promote arc flash safety in various end user industries.
On the contrary, high maintenance cost coupled with the high installation cost are factors that may deter arc flash protection market growth over the forecast period.
Arc Flash Protection System Market Segmentation
The Market Research Future report offers a wide segmental analysis of the arc flash protection system market based on equipment and end user.
Based on equipment, the arc flash protection market is segmented into arc flash detection and control system, and personal protective equipment.
Based on end user, the arc flash protection market is segmented into transportation and infrastructure, utilities, oil and gas, and manufacturing and processing industries.
Based on the region, the arc flash protection market report covers growth opportunities and the latest trends across North America, Asia Pacific, Europe, and the Rest of the World.
Of these, North America will spearhead the market over the forecast period followed by Asia-Pacific. This is owing to the rise in demand for power, and also in protection devices for distribution and safe transmission, global development in non-conventional and renewable energy sources, and also the need for promoting transmission and distribution grids, which includes both grounded and undergrounded. The arc flash protection market in this region is predicted to be chiefly driven by the increasing investment in the electrical network and the stringent rules and regulations laid down by leading organizations such as OSHA and NFPA to encourage arch flash safety in various end user industries.
The arc flash protection market in the APAC region will have the second largest share in the market over the forecast period, with India, Japan, and China being the key country-specific markets here.
The arc flash protection market in Europe will have the third largest share in the market over the forecast period due to the presence of several key market players in this region. The UK, Germany, and France are the key country-specific markets here.
Leading players profiled in the arc flash protection market include Eaton Co. Plc. (Ireland), Schweitzer Engineering Laboratories, Inc. (USA), Schneider Electric SA (France), Littelfuse, Inc. (the USA), Basler Electric Company. (USA), Mitsubishi Electric Corporation (Japan), Larsen & Toubro, Ltd. (India), Toshiba Corporation (Japan), DuPont (USA), General Electric Company (USA), ABB Group (Switzerland), and Siemens Ltd. (Germany), among others.
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About the AuthorAnvi
Joined: October 25th, 2019
Articles Posted: 461
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