New York, NY, May 08, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Arc Flash Protection Market by Equipment (Personal Protective Equipment and Arc Flash Detection & Control System) by End Users (Infrastructure, Utilities, Oil & Gas, and Others): Global Industrial Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023”. According to the report, global arc flash protection market was valued at USD 1.86 billion in 2017 and is expected to reach USD 2.50 billion in 2023, growing at a CAGR of 5.1% between 2018 and 2023.
Arc flash protection system and equipment are utilized to detect and moderate the flash hazards, caused by decline or decomposition of equipment, as well as other causes including dust, material failures, and damaged installation. The first option for reducing the frequency and strictness of the incidents can be achieved during complete arc flash hazard estimation. Arc flash should be viewed as the last line of protection and provides protection after an arc flash incident has occurred. Equipment with installed arc flash protection devices provides equipment reliability as ensuring the safety of human resources working in the surrounding area.
Browse through 30 Tables & 30 Figures spread over 120 Pages and in-depth TOC on "Global Arc Flash Protection Market Size & Share 2017: Industry Trends, Growth Analysis and Forecast, 2023”.
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Major driving factors for the growth of arc flash protection market are an increase in the cost of the electrical network, substitution of existing electrical safety equipment and expansions of the developed sector in South East Asia. However, the additional cost of installation could be restraining factors for the arc flash protection market. Furthermore, the global arc flash protection market offers new growth opportunities, due to the substitution of arc flash protection devices in developed region, and to make the electrical system easier and safer to maintain.
The global arc flash protection market is segmented into personal protective equipment, and arc flash detection & control system. Among all, arc flash detection & control system market segment held the largest market share due to immense demand globally. Arc flash control devices such as relay and current limiters installation increasing outside the electrical equipment, which is expected to drive the arc flash control system segment. Moreover, arc flash control system maintains the flow of current to the electrical equipment involve relays, breaker and fault current limiters. Hence, it is likely to augment the growth of the market in the near future years.
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On the basis of end users, the market is segmented into infrastructure, utilities, oil & gas, and others. Utility segment led the arc flash protection market in 2017. It accounted for significant share of the total market. Surging investments and expansion for electricity projects especially in emerging countries is projected to witness lucrative growth over the forthcoming years. Moreover, oil and gas and infrastructure segment are also predicted to exhibit the strong growth of the market between 2018 and 2023.
North America was the largest market for arc flash protection market in 2017. The U.S was the major contributor in the region of the market in 2017 and further, it is expected to be the fastest growing country in the region, following by Canada. Imposition of stringent rules and regulation by Occupational Safety and Health Administration (OSHA) and the National Fire Protection Association (NFPA) is likely to increase in the growth of arc flash protection market in the coming years.
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In the Asia Pacific is predicted to expand at the significant growth of arc flash protection market owing to the current power deficit scenario along with the rise in demand for the power generation in the region. In order to boost the power generation for the growth of electrical distribution in the region is estimated to expand the arc flash protection market. China and India are the major consumers for the arc flash protection market in the region which are expected to witness productive growth in the near future.
Europe was the second largest market of arc flash protection in 2017. It is likely to witness the significant growth in the future years. The strong initiates by European Government and increasing investment and development by multinational companies is likely to positively impact on the demand for arc flash protection in the region over the years to come.
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Latin America and Middle East & Africa accounted for the least market share in 2017 and furthermore it is expected to grow at moderate pace in the coming years. The growing electricity expansion and distribution activities, especially in Brazil, Argentina, Saudi Arabia, UAE, and Africa, is projected to boom the market of arc flash protection over the coming years.
Some of the major players involved in the global arc flash protection market include General Electric Company, Larsen & Toubro Limited, ABB Ltd, Siemens AG, Eaton Corporation, Arcteq Relay Ltd, NR Electric Co Ltd, Rittal GmbH & Co. KG, Schneider Electric SE, G&W Electric Company and Mors Smitt Technologies Inc.
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This report segments the global Arc Flash Protection market as follows:
Arc Flash Protection Market: Equipment Analysis
- Personal Protective Equipment
- Arc Flash Detection & Control System
Arc Flash Protection Market: End Users Analysis
- Infrastructure
- Utilities
- Oil & Gas
- Others
Arc Flash Protection Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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