Global Arc Flash Protection Equipment Market 2017-2021: Geographical Segmentation and Forecasts by Technavio
The global
arc flash protection equipment market is expected to grow
at a CAGR of more than 4% during the forecast period, according to
Technavio’s latest market research.
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Technavio has published a new report on the global arc flash protection equipment market from 2017-2021. (Graphic: Business Wire)
In this market research report, Technavio
covers the market outlook and growth prospects of the global arc
flash protection equipment market for 2017-2021.
The market is further categorized into four end-user segments, including
the power, construction, oil and gas, manufacturing, and other
industries.
“The arc flash protection equipment will gain significantly due to
the growth in the construction industry during the forecast period. Arc
flash protection equipment is used in the construction industry as
workers are in continuous contact with the electric circuitry of
machines, tools, appliances, or light fixtures,” says Neelesh
Prakash Singh, a lead power
research expert from Technavio.
Technavio’s research analysts segment the global arc flash protection
equipment market into the following regions:
Arc flash protection equipment market in Americas
The demand for arc flash protection equipment in the Americas is driven
by the stringent regulations imposed by regulatory bodies such as OSHA.
Also, the growth of the construction industry will contribute to the
market's growth. The residential construction in Canada has seen a
positive shift since 2015 in its real estate market while creating new
opportunities for investors due to the low exchange rate of the Canadian
dollar. In 2015, in Latin America, the infrastructure construction
sector recorded positive performance and is expected to grow during the
forecast period.
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Arc flash protection equipment market in APAC
APAC is witnessing growth in power generation capacity owing to the
rapid installation of natural gas-powered plants in countries such as
China, the Philippines, Indonesia, India, Thailand, and Vietnam. The
region is also witnessing large-scale investments in the automotive
industry. For instance, First One Mile Mobility (FOMM), a Japanese
electric vehicle (EV) development company signed a joint venture
agreement in Thailand to set up a production plant in 2016. This is
expected to transform the automotive industry and make the country an EV
manufacturing hub. All these factors will influence the growth of the
automotive industry in the region, which will have an impact on the arc
flash protection equipment market. The construction industry in APAC
will witness the fastest growth from developing economies such as China
and India, which augurs well for the arc flash protection equipment
market.
Arc flash protection equipment market in EMEA
In EMEA, Europe is a hub for manufacturing innovation. The Horizon 2020
R&D funding program, which aims to increase innovations in various
industries in Europe, plans to transform the manufacturing operations in
the region by taking advantage of advanced computing, sensor
technologies, and robotics, especially in the automotive sector.
“The construction industry is expected to play a significant role in
the growth of arc flash protection equipment market. There has been a
marked increase in the investments in buildings and public
infrastructure across the Middle East, especially in Qatar, Saudi
Arabia, and the UAE. For instance, Qatar is investing billions of
dollars to develop its infrastructure to host the FIFA 2022 World Cup,” says
Neelesh.
The top vendors in the global arc flash protection equipment market as
highlighted in this market research analysis are:
-
Honeywell International
-
Lakeland
-
MSA
-
National Safety Apparel
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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