Arc Flash Protection Market Analysis
The 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 indeed is a necessity in all electrical switchboards
for operator safety, and, above all, minimizing the damages related to arc
flash events. Adapting to the recent novel COVID-19 pandemic, the impact of the
COVID-19
on Arc Flash Protection Market is included in the present report.
Various factors are pushing the growth of the arc
flash protection 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 market, and stringent rules laid down by the
governments to promote arc flash safety in various end user industries.
On the contrary, high maintenance cost coupled with
the high product, and installation cost are factors that may deter arc flash
protection market growth over the forecast period.
Arc Flash Protection 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 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, worldwide development in the
electrical component manufacturing market, 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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NOTE: Our team of researchers are studying
Covid19 and its impact on various industry verticals and wherever required we
will be considering covid19 footprints for a better analysis of markets and
industries. Cordially get in touch for more details.
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