Arc Flash Protection Market to reach $2.41 Billion by 2022
The arc flash protection market is expected to grow from an estimated USD 1.85 Billion in 2017 to USD 2.41 Billion by value by 2022, at a CAGR of 5.38%. Equipment with installed arc flash protection devices provides improved equipment reliability while ensuring safety of personnel working in the vicinity. The global market is set to witness growth, due to increasing investments in electrical networks and growth of the manufacturing sector in South-East Asia.
Utilities is the largest segment in the arc flash protection market
With regard to the end-user segment, the utilities segment in the arc flash protection market is expected to be the largest market in 2017. 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.
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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.
Some of the top players in the arc flash protection market includes ABB, Ltd. (Switzerland), Arcteq Relays, Ltd. (Finland), General Electric (U.S.), Schneider Electric (France), Eaton Corporation (Ireland), Siemens AG (Germany), Larsen & Toubro, Ltd. (India), Littelfuse, Inc. (U.S.), NR Electric Co., Ltd. (China), Oberon Company div Paramount Corporation (U.S.), Hazchem Safety (U.K.), DuPont (U.S.), Grainger, Inc. (U.S.), LSH Industrial Solutions Pte, Ltd. (Singapore), PowerPoint Engineering, Ltd. (Ireland), I-Guard Corporation (Canada), G&W Electric Company (U.S.), Mors Smitt (U.S.), Rittal GmbH & Co. KG (Germany), Salisbury (U.S.), AJ Charnaud & Co. (Pty) Ltd (South Africa), AGO Industries, Inc. (U.K.), Clydesdale, Ltd. (U.K.), Chicago Protective Apparel (U.S.), and Pentair (U.S.) among others.
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