Global Arc Flash Protection Equipment Market 2017-2021: Geographical Segmentation and Forecasts by Technavio
20 Juni 2017 - 1:23AM
Business Wire
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
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in customized consulting and business research assignments across
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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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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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