Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Arc Flash Protection Market Poised to Touch $2.41 Billion by 2022

Author: Siddhant Dongare
by Siddhant Dongare
Posted: Jul 15, 2019

The arc flash protection market is projected to grow from an estimated USD 1.85 Billion in 2017 to USD 2.41 Billion by 2022, at a CAGR of 5.38% from 2017 to 2022. The market in North America is estimated to be the largest markets for arc flash protection system and equipment, followed by the market in Europe. This trend is expected to continue till 2022. The growth of the arc flash protection market is driven by increasing investments in electrical networks and growth of the manufacturing sector in South-East Asia.

North America: The leading market for arc flash protection

The market in North America is expected to dominate the global arc flash protection market, given the increasing awareness to reduce the electrical risk hazards at workplace in order to create a safer environment for personnel as well as the equipment. Growth in industries such as food & beverage, infrastructure and transportation, utility, and mining, is also expected to increase capital spending on safety equipment by major manufacturers. All these factors are expected to drive the North American arc flash protection market.

The arc flash protection market in the Middle East is projected to grow at the fastest rate from 2017 to 2022. Increasing investment in the electrical infrastructure and key focus on electrical safety issues will be driving the growth of the arc flash protection market in the region during the forecast period. The region also witnessed investment in the transportation and infrastructure segment, which are also driving the arc flash protection market.

The utilities segment in the arc flash protection market is expected to be the largest market. Growing demand for electricity has resulted in significant capital spending on electrical networks to boost power generation and improve transmission and distribution quality. Increase in expenditure on electrical networks from China, India, and countries in the Middle East would drive the utilities segment.

The upgradation of existing safety equipment installed across applications in switchgears, distribution boards, motor control centers, and panel boards is expected to create new opportunities for arc flash protection equipment companies. Moreover, governments in most of the countries are investing in renewable energy-based power generation to match up with the growing energy demand. The companies are focusing on deploying High Voltage Direct Current (HVDC) systems as they are efficient for long-distance power transmission. All these factors will drive the arc flash protection market during the forecast period.

The arc flash protection market is dominated by a few global players. Key players operating in the market include ABB, Ltd. (Switzerland), General Electric (U.S.), Schneider Electric (France), Eaton Corporation (Ireland), Siemens AG (Germany), and Littelfuse, Inc. (U.S.) among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: newsletter@marketsandmarkets.com

Content Source: https://www.marketsandmarkets.com/PressReleases/arc-flash-protection.asp

About the Author

Currently working as a Senior Research Associate with hands on experience in Market Research, Business Research, Consumer Research and Process Research

Rate this Article
Leave a Comment
Author Thumbnail
I Agree:
Comment 
Pictures
Author: Siddhant Dongare

Siddhant Dongare

Member since: Feb 06, 2019
Published articles: 108

Related Articles