Arc Flash System Market Analysis
The global arc flash protection 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 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 System Market Segmentation
The Market Research Future report offers a wide segmental
analysis of the arc flash protection 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. Of these, the arc flash detection and control system segment will
have the largest share in the market over the forecast period.
Based on end user, the arc flash protection market is
segmented into transportation and infrastructure, utilities, oil and gas, and
manufacturing and processing industries. Of these, utilities will dominate the
market over the forecast period.
Regional Analysis
Based on the region, the arc flash system 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.
Key Players
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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