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.
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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Research Future:
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