Arc Flash Protection Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Equipment (Arc Flash Detection & Control System, and Personal Protection Equipment), End-User (Utilities, Manufacturing & Processing Industries, Oil & Gas, and Others), and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa)

Market Snapshot

Arc Flash Protection Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >5 %

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Market Overview

The arc flash protection market is expected to grow at a CAGR of around 5% during the forecast period. Factors such as increasing investment in the electrical networks, growing manufacturing sector, and various fire safety regulations set by the Occupational Safety and Health Administration (OSHA) and National Fire Protection Association (NFPA) of the United States are expected to drive the market across the world. Although several regulations and efforts have been made to minimize electrical accidents and to have a high adoption of arc flash protection system, but factors such as high product and maintenance costs are likely to act as a barrier for the market to grow during the forecast period.

  • The utility sector is likely to witness significant growth during the forecast period, owing to increasing uses of safety electrical and electronic equipment to maintain international safety standards.
  • The government of the United Arab Emirates (UAE) is concentrating on having a higher share of the manufacturing sector in its country’s GDP. With its shrinking prospects for investment in the oil & gas industry, the country is planning to diversify its business to other business segments, such as manufacturing. For instance, the Abu Dhabi Economic Vision 2030 aims to grow the non-oil sector by more than 7.5% annually to help the UAE achieve a neutral non-oil trade balance. Thus, the initiative is expected to create an opportunity for the arc flash protection market growth in the near future.
  • North America is likely to dominate the market during the forecast period, with the majority of the demand coming from the United States and Canada.

Scope of the Report

The arc flash protection market report includes:

Equipment
Arc Flash Detection & Control System
Personal Protection Equipment
End-User
Utilities
Manufacturing & Processing
Oil & Gas
Others
Geography
North America
Asia-Pacific
Europe
South America
Middle-East and Africa

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Key Market Trends

Utility Sector to Witness Significant Growth

  • Arch flash protection system consists of relays, breakers, and fault current limiters. The system controls the flow of current to the electrical equipment and protects it from any electrical accident that may arise due to flaws in a network.
  • From power generation to transmission and distribution, the utility sector puts huge investment and workforce to maintain and to operate a power grid. Safety being a prior concern of prevention from having an unnecessary incident, so the installation of an arc flash protection system is very much necessary within a power grid.
  • To prioritize the safety of industry and workforce, an organization such as OSHA (Occupational Safety and Health Administration), and NFPA (National Fire Protection Association) has set different codes and standards for flames and electric arcs and is a mandate in many countries to abide by it, to have clearance for project development and installation.
  • In 2018, global electricity generation was around 26614.8 terawatt-hours. Of the total electricity production, utility sectors such as fossil fuel and renewable have different contribution shares. With the growing concerns regarding environmental impacts, renewable sectors such as solar and wind are expected to grow further, increasing the use of safety protection equipment such as arc flash during the coming years.
Arc Flash Protection Market - Electricity Generation

North America to Dominate the Market

  • The growing industrial safety norms and energy projects are expected to significantly drive the arc flash protection market in the region, mainly due to the United States being an early adopter of industry standards.
  • The region is the second leading manufacturing hub after China, which contributes nearly 16.6% of the global manufacturing output. With high manufacturing and mandate safety standards, the region is estimated to have a high installation of arc flash protection systems.
  • Additionally, the region has a significant presence in the oil and gas industry. With 135 operating refineries and the highest crude and natural gas production in the United States during 2018, it is estimated to have the highest number of arc flash protection system in the country.
  • There is significant penetration of smart commercial buildings or infrastructure in North America, owing to the growing security concerns and awareness in energy conservation. The technological advancements in safety electrical devices and the adoption of those devices in infrastructure are expected to act as opportunities for the arc flash market in the region.
  • As of 2019, nearly 19 gigawatts of wind projects are under construction in the United States. Commissioning of these projects, along with the power grid from transmission and distribution, is likely to install electrical safety and protection equipment, which is expected to boost the arc flash protection market during the upcoming years.
Arc Flash Protection Market -Geography

Competitive Landscape

The arc flash protection market is moderately fragmented. Some of the key players in the market include Schneider Electric SE, DuPont de Nemours Inc., ABB Ltd, General Electric Company, Siemens AG, Arcteq Relays Ltd, Eaton Corporation Plc, Larsen & Toubro Limited, Littlefuse Inc, and NR Electric Co. Ltd.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitute Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Equipment

      1. 5.1.1 Arc Flash Detection & Control System

      2. 5.1.2 Personal Protection Equipment

    2. 5.2 End-User

      1. 5.2.1 Utilities

      2. 5.2.2 Manufacturing & Processing

      3. 5.2.3 Oil & Gas

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Asia-Pacific

      3. 5.3.3 Europe

      4. 5.3.4 South America

      5. 5.3.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Schneider Electric SE

      2. 6.3.2 DuPont de Nemours Inc

      3. 6.3.3 ABB Ltd

      4. 6.3.4 General Electric Company

      5. 6.3.5 Siemens AG

      6. 6.3.6 Arcteq Relays Ltd

      7. 6.3.7 Eaton Corporation Plc

      8. 6.3.8 Larsen & Toubro Limited

      9. 6.3.9 Littlefuse Inc

      10. 6.3.10 NR Electric Co. Ltd.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Arc Flash Protection Market market is studied from 2016 - 2026.

The Arc Flash Protection Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Schneider Electric SE, DuPont de Nemours Inc., ABB Ltd, General Electric Company, Siemens AG are the major companies operating in Arc Flash Protection Market.

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