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Global Arc Flash Protection System Market by Type, by Mechanism, by Application, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2018 – 2023
Global Arc Flash Protection System Market Research Report-Forecast To 2023
Currently, the arc flash protection market is in the growth stage. This is due to the increase in demand for power, and in protection device for safe transmission and distribution, worldwide growth in the use more renewable and non-conventional energy sources, the global need to upgrade transmission & distribution grids (both grounded & undergrounded) boost the global arc flash protection market.
The market is mainly driven by increasing investment in electrical network, global growth in electrical component manufacturing market and stringent regulation from associations such as, NFPA and OSHA to promote arch flash safety in the end user industries. The North-America region is the leading market for arc flash protection market and is followed by Asia-Pacific.
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Key Players
The key players of global arc flash protection market are ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric Company (USA), Larsen & Toubro, Ltd. (India), Toshiba Corporation (Japan), Basler Electric Company. (USA), Mitsubishi Electric Corporation (Japan), Schweitzer Engineering Laboratories, Inc. (USA), Littelfuse, Inc. (USA), Schneider Electric SA (France), DuPont (USA) and Eaton Co. Plc. (Ireland).
Global Arc Flash Protection Market Information Report by Equipment (Arc Flash Detection & Control System and Personal Protective Equipment), by End User (Utilities, Manufacturing & Processing Industries, Oil & Gas and Transportation & Infrastructure) and by Region - Global Forecast To 2023
Market Scenario
An arc flash is the heat and light produced from an electric arc which is supplied through enough electrical energy to cause substantial damage, fire, harm or injury. Also, an arc flash is a phenomenon where a flashover of electric current leaves its intended path and travels through the air from one conductor to another, or to ground. The results are often violent and when a human is in close proximity to the arc flash, serious injury and even death can occur.
The arc flash detection & control system holds the largest share in the arc flash protection market, by equipment type during the forecast period. Arc flash detection & control system comprises of relays, breakers, and fault current limiters. Arc flash control system maintains the flow of current to the electrical equipment. The growing cost of smart arc flash control devices such as relays and current limiters, outside the electrical equipment is expected to boost the arc flash detection & control system. The constant need for electricity and the unstable electricity supply situation in most developing countries will aid in the growth of the arc flash protection market over the forecast period.
The expensive power distribution system and its infrastructure needs a protection from potential hazard which is given by the arc flash protection. Also, stringent government regulation to promote arc flash protection in the major end-use industries. However, the high product cost and high maintenance cost of arc flash protection will restrain the market to some extent.
The global arc flash protection market is expected to grow at a CAGR of more than 5% during the forecast period.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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