Global Arc Flash Protection Market
The Global Arc Flash Protection Market was valued at USD 1.82 billion in 2016 and is projected to reach USD 2.90 billion by 2025, growing at a CAGR of 5.41% from 2017 to 2025.
An Arc Flash is the light and heat produced as part of an arc fault, a type of electrical explosion or discharge that results from a low-impedance connection through air to ground or another voltage phase in an electrical system. Benefits of arc flash protection include - ensures your electrical system is safe, provides a baseline for ongoing maintenance, and ensures a safe work environment.
1. Market Drivers
1.1 Upgradation of arc flash protection devices
1.2 Hvdc transmission in renewable power generation
1.3 Regulation from Nfpa and Osha to promote arc flash safety
1.4 Rising investment in electrical networks
2. Market Restraints
2.1 High competition due to easy reproducibility of technology
2.2 High cost of installation
2.3 Poor regulations
The Global Arc Flash Protection Market is segmented on the end user, equipment, and region.
1. End User:
1.1 Oil & Gas
1.3 Transportation and Infrastructure
1.4 Manufacturing and Processing
2. By Equipment:
2.1 Arc Flash Control System
2.2 Personal Protective Equipment
2.3 Arc Flash Detection System
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Eaton Corporation, PLC
2. Schneider Electric Se
3. Larsen & Toubro Limited
4. Arcteq Relays, Ltd.
5. NR Electric Co., Ltd.
6. Mors Smitt Technologies, Inc.
7. ABB, Ltd.
8. General Electric Company
9. Siemens AG
10. Littelfuse, Inc.
11. G&W Electric Company
12. Rittal GmbH & Co. Kg
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Arc Flash Protection Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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