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.
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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.
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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.
