Global Arc Flash Protection Market

Dublin, August 16, 2024 (GLOBE NEWSWIRE) — The report “Arc Flash Protection – Global Strategic Business Report” has been added to The Offer.

The global Arc Flash Protection market is valued at USD 2.2 billion in 2023 and is expected to reach USD 3.2 billion by 2030, growing at a CAGR of 5.0% between 2023 and 2030. This comprehensive report offers in-depth analysis of market trends, drivers, and forecasts to help you make informed business decisions.

Growth in the arc flash protection market is driven by several factors, including tightening regulations and safety standards, rising awareness of workplace safety, and technological advancements in safety equipment. Regulatory bodies worldwide are tightening safety requirements to prevent occupational hazards associated with electrical work, forcing industries to adopt more effective arc flash protection measures. This regulatory pressure is coupled with a growing awareness among companies of the benefits of ensuring workplace safety, which not only helps comply with laws but also increases productivity and reduces accident-related downtime.

Technological innovations such as smarter protective equipment and more sophisticated electrical monitoring systems are also key market drivers. These technologies are improving the effectiveness of arc flash protection systems and increasing their use in various industries, including manufacturing, energy, and construction. Additionally, as companies increasingly value sustainability and ethical practices, they are increasingly adopting practices that ensure employee safety, driving further growth in the arc flash protection market.

Key findings:

• Market Growth: Understand the significant growth curve of the arc control systems segment, which is expected to reach $1.8 billion by 2030, at a CAGR of 5.3%. The arc detection systems segment is also expected to grow at a CAGR of 4.7% during the analysis period.

• Regional Analysis: Gain insights into the US market, estimated to reach $597.8 million in 2023, and China, which is forecast to grow at an impressive CAGR of 7.6% per year to reach $317.9 million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and Asia Pacific.

Reporting features:

• Comprehensive market data: Independent analysis of annual sales and market forecasts in millions of US dollars from 2023 to 2030.

• Detailed Regional Analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, Middle East and Africa.

• Company Profiles: Coverage of major players such as Honeywell International, Inc., ABB Ltd., Eaton Corporation PLC and more.

• Free Updates: Get free report updates for one year to stay informed of the latest market developments.

Main features:

MARKET OVERVIEW

• Insights into the influencer market

• World market development

• An introduction to arc flash protection

• Thermal effects of arc temperatures: A snapshot

• Arc protection: current market scenario and outlook

• Industrial regions remain the most important revenue generators

• Great growth opportunities in emerging regions

• Product segment analysis

• Arc control systems: The dominant segment

• Increasing demand for arc detection accelerates market expansion

• Personal protective equipment against arc flashes remains of great importance

• Global Economic Outlook: GDP Growth and Arc Flash Protection Market

• Arc protection – Percentage market share of the most important competitors worldwide in 2024 (D)

• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)

MARKET TRENDS & DRIVERS

• Dynamics in the global manufacturing sector promote expansion in the arc protection market

• Utilities remain major consumers of arc flash protection equipment

• Increasing investment in utilities in the face of rising electricity demand promotes growth

• Global electricity generation in billion kWh for the years 2010, 2020, 2030, 2040 and 2050

• China and India lead the global increase in electricity demand: Change in gross electricity demand in TWh for 2017-50

• The market benefits from the critical importance of electrical safety in the oil and gas sector

• Continued opportunities in the transport and infrastructure sector

• Global construction spending (in billion US dollars) for 2018, 2022 and 2025

• Arc regulations control the overall dynamics of the market

• NFPA 70E Standards

• Requirements for PPE with arc protection: A snapshot

Focus on selected players (Total 33 presented)

• ABB (Switzerland)

• Arcteq Oy (Finland)

• DuPont de Nemours, Inc. (USA)

• Eaton Corporation Inc. (USA)

• G&W Electric Co. (USA)

• Larsen & Toubro Limited (India)

• Littelfuse, Inc. (USA)

• Mors Smitt Technologies Inc. (USA)

• PowerPoint Engineering, Ltd. (Ireland)

• Rittal GmbH & Co. KG (Germany)

• Schneider Electric SE (France)

• Siemens AG (Germany)

For more information about this report visit https://www.researchandmarkets.com/r/lahdc1

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