Arc Flash Protection Market to Reach $2.4 Billion by 2022 - Additional Cost of Installation & Lack of Regulatory Implementation Will Slow Growth
DUBLIN, July 20, 2017 /PRNewswire/ --
The "Arc Flash Protection Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global arc flash protection market is projected to grow at a CAGR of 5.38% from 2017 to 2022, to reach a market size of USD 2.41 Billion by 2022. Increasing investments in electrical network, growth of the manufacturing sector in South-East Asia, and arc flash regulations from associations such as NFPA and OSHA will drive the arc flash protection market during the forecast period.
The report segments the arc flash protection market based on equipment into arc flash detection system, arc flash control system, and personal protective equipment. The arc flash control system dominated the equipment segment as it occupies the largest part of the spending, on arc flash protection devices from the cost perspective, as the value of control devices are higher.
Based on end-users, the arc flash protection market is segmented into utilities, manufacturing and processing, oil & gas, transportation and infrastructure, and others. Utilities is the largest segment for the arc flash protection market. Rising investments in electrical networks and consistent growth in demand for electricity from the commercial, residential, and industrial sectors, further results in growing the demand for the arc flash protection system.
In this report, the arc flash protection market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The market in North America is expected to dominate the global arc flash protection market during the forecast period, owing to arc flash regulations from associations, such as, NFPA and OSHA and demand from replacement of safety equipment in the region during the forecast period.
Additional cost of installation and lack of regulatory implementation in some regions is expected to slow down the demand for the arc flash protection market during the forecast period. However, the arc flash protection rental equipment market has potential in replacement and upgradation of arc flash protection devices in developed regions and HVDC transmission in renewable power generation.
Companies Mentioned
- ABB, Ltd.
- Arcteq Relays, Ltd.
- Eaton Corporation, PLC
- G&W Electric Company
- General Electric Company
- Larsen & Toubro Limited
- Littelfuse, Inc.
- Mors Smitt Technologies, Inc.
- NR Electric Co., Ltd.
- Rittal GmbH & Co. KG
- Schneider Electric SE
- Siemens AG
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Premium Insights
6 Arc Flash Protection System Market, By Equipment
7 Arc Flash Protection Market, By End-User
8 Arc Flash Protection Market, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/hrjdmw/arc_flash
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