Global Arc Flash Protection Market to Reach $2.5 Billion by 2026

SAN FRANCISCO, April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Arc Flash Protection - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 5; Released: February 2022
Executive Pool: 22303
Companies: 33 - Players covered include ABB; Arcteq Oy; DuPont de Nemours, Inc.; Eaton Corporation Inc.; G&W Electric Co.; Larsen & Toubro Limited; Littelfuse, Inc.; Mors Smitt Technologies Inc.; PowerPoint Engineering, Ltd.; Rittal GmbH & Co. KG; Schneider Electric SE; Siemens AG and Others.
Coverage: All major geographies and key segments
Segments: Equipment (Arc Flash Control Systems, Arc Flash Detection Systems, and Personal Protective Equipment); and End-Use (Utilities, Manufacturing & Processing, Oil & Gas, Transportation & Infrastructure, and Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Arc Flash Protection Market to Reach $2.5 Billion by 2026
Arc flash is an electrical accident that creates a loud and high-temperature explosion, due to sudden release of the energy caused by electric arc. Arc temperature can be as high as 35,000°F, four times higher than the temperature on surface of the sun that can vaporize surrounding metal, set fires, and cause fatal burns to people located in the area of the incident. Further, the sound associated with arc flash pressure can be as high as 160 decibels (dB), the exposure to which can instantly rupture human ear drums. Arc flash occurs due to various reasons. Accidental dropping of tools or entry of foreign objects into an equipment, accumulation of dust, faulty equipment, poor maintenance, careless removal or replacement of device and cover, misalignment of moving contacts, and corrosion, dirt contamination or breakdown of dielectric are some of the reasons. Common hazards of arc flash include severe burns, blast injuries, shrapnel wounds, pressure wave injuries, lung blast injuries, blindness, and ruptured eardrums, among others.

Since arc flash, although a rare event, can cause significant loss of life and damage to property in the accident zone, arc flash protection equipment are highly preferred for safety as well as productivity of electrical equipment. Arc flash protection equipment, when deployed in an electrical network, aid in minimizing the shutdown risks, reducing related damage, and optimizing the maintenance effort. These solutions enable passive protection for most switchgear, as well as active protection by combining various sensors to survey arc ignition at any place inside MV or LV switchgear. Furthermore, advanced version arc flash protection tools come with disturbance recording, default discrimination, and IEC 61850 communication capabilities to add new level of efficiency in arc flash protection. In addition, latest range of arc flash protection solutions are being offered in compact designs to ensure quick installation, and in compliance with most stringent global regulations governing arc flash safety.

Amid the COVID-19 crisis, the global market for Arc Flash Protection is projected to reach US$2.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 4.8% over the analysis period. The United States represents the largest regional market for Arc Flash Protection and is projected to reach US$666.7 Million by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 7.6% over the analysis period. Factors such as sustained expansion in manufacturing sector, progressive growth in power and energy infrastructure deployments, increased spending on oil & gas facilities, and robust investments on infrastructure construction and transportation facilities, have contributed immensely to growth and progress of the arc flash protection equipment market. Increased willingness among enterprises across various industrial sectors towards improving the safety of their electrical assets and wellbeing of workforce promoted significant growth in uptake of these solutions. At the same time, implementation of arc flash regulations by entities such as Occupational Safety and Health Administration (OSHA) and National Fire Protection Association (NFPA) induced healthy trajectory in deployments of arc flash protection tools. Growth in the arc flash protection equipment market is likely to remain firm in the coming years, driven by rising investments in electrical network, uptrend in manufacturing sector in many emerging economies, and growing emphasis on compliance with arc flash regulations among enterprises across the board. Utilities segment, which constitutes the largest end user, would continue to steer overall deployments of arc flash protection equipment. Amid sustained growth in demand for electricity from the residential, industrial and commercial sectors, utilities would continue to widen their operations, while extending sustained opportunities to arc flash protection market.

Developed regions including the US and Europe have driven momentum in the arc flash protection equipment market over the years. Both the US and Europe collectively account for more than half of total market, and the dominance of these regions is likely to continue through the coming years. Demand for arc flash protection equipment is poised to remain stable in these regions as a result of market maturity triggered by long established and legislated regulations, strict mechanisms to tackle any lapse in implementation of safety programs and high degree of safety awareness among enterprises and workers. Arc flash protection equipment market in Europe is driven by factors such as established role of safety equipment in industrial workplace environments and stringent regulations in place for worker safety. Although developed regions constitute the major revenue contributors, arc flash protection equipment market has been witnessing fast paced growth in emerging regions including Asia-Pacific, Latin America, and the Middle East. Demand for arc flash protection equipment in these regions is driven by steady momentum in manufacturing sector, massive expansion in power utility landscape, and sustained spending on infrastructure construction projects. Such growth prospects are highly visible in countries including China, India, Thailand, Korea, Taiwan, Malaysia, Mexico, Brazil, and Saudi Arabia, among others. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected] 

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SOURCE Global Industry Analysts, Inc.