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A report on Arc Flash Protection Markets System Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Arc Flash Protection Markets System Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
The Global Arc Flash Protection Market was valued at USD 1.82 billion in 2016 and is projected to reach USD 2.90 billion by 2025, growing at a CAGR of 5.41% from 2017 to 2025.
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An Arc Flash is the light and heat produced as part of an arc fault, a type of electrical explosion or discharge that results from a low-impedance connection through air to ground or another voltage phase in an electrical system. Benefits of arc flash protection include – ensures your electrical system is safe, provides a baseline for ongoing maintenance, and ensures a safe work environment.
Market Dynamics:
1. Market Drivers
1.1 Upgradation of arc flash protection devices
1.2 Hvdc transmission in renewable power generation
1.3 Regulation from Nfpa and Osha to promote arc flash safety
1.4 Rising investment in electrical networks
2. Market Restraints
2.1 High competition due to easy reproducibility of technology
2.2 High cost of installation
2.3 Poor regulations
Market Segmentation:
The Global Arc Flash Protection Market is segmented on the end user, equipment, and region.
1. End User:
1.1 Oil & Gas
1.2 Utilities
1.3 Transportation and Infrastructure
1.4 Manufacturing and Processing
1.5 Others
2. By Equipment:
2.1 Arc Flash Control System
2.2 Personal Protective Equipment
2.3 Arc Flash Detection System
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Eaton Corporation, PLC
2. Schneider Electric Se
3. Larsen & Toubro Limited
4. Arcteq Relays, Ltd.
5. NR Electric Co., Ltd.
6. Mors Smitt Technologies, Inc.
7. ABB, Ltd.
8. General Electric Company
9. Siemens AG
10. Littelfuse, Inc.
11. G&W Electric Company
12. Rittal GmbH & Co. Kg
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Arc Flash Protection Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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