Arc Flash Protection Relay Market
Arc Flash Protection Relay Market Forecasts to 2030 - Global Analysis By Type (High Pressure Type, Medium Pressure Type, Low Pressure Type and Other Types), Equipment, Application, End User and By Geography
According to Stratistics MRC, the Global Arc Flash Protection Relay Market is accounted for $2.5 billion in 2023 and is expected to reach $4.2 billion by 2030 growing at a CAGR of 7.3% during the forecast period. A specialized device called an Arc Flash Protection Relay is used in electrical systems to identify and lessen the potentially harmful consequences of an arc flash incident. An electrical defect or short circuit can result in an abrupt release of electrical energy that manifests as strong light, heat, and sound, known as an arc flash. These occurrences may be exceedingly dangerous and put nearby people and equipment at serious risk.
According to the Trading Economics study, industrial production in the United States rose by 7.5% in February 2022, the highest increase since June 2021.
Market Dynamics:
Driver:
Compliance with safety standards
Many industries and regions have safety standards and regulations in place to prevent arc flash incidents. Using arc flash protection relays helps companies meet these requirements, avoiding potential legal and regulatory issues. Moreover, they often come with customizable settings, allowing users to set appropriate trip thresholds and time delays to match the specific needs of their electrical systems. These are the factors propelling the growth of the market.
Restraint:
High cost
Arc Flash Defense It can be costly to buy, install, and maintain relays. For firms with tighter resources or smaller enterprises, the expense may provide a substantial obstacle. For the correct installation, programming, and maintenance of these relays, certain expertise and training are needed. Some firms may find it difficult to execute these complicated systems without access to competent individuals. These are the things impeding the market's expansion.
Opportunity:
Enhanced safety
The notable increase in electrical safety is the main benefit of arc flash protection relays. They are made to be able to identify and react to arc flash events in milliseconds, which lowers the possibility of equipment damage and worker harm. Accidents that might be fatal can be avoided by quickly identifying and triggering the faulty circuit. The incident energy emitted during an arc flash occurrence can be decreased using these relays. They decrease the energy released by quickly cutting off the faulty circuit, which lessens the intensity of the arc flash and any potential repercussions. These are the variables affecting the market's expansion.
Threat:
High investment
The organization's budget is severely strained by the hefty initial cost of installing arc flash protection equipment. Small and medium-sized businesses could find it difficult to make these costly expenditures, even though huge firms can afford them. Additionally, companies must update their safety systems since new legislation and technology developments regularly result in changes to safety requirements. Its upgrade calls for further expenditures on safety systems and parts. It is expected that these considerations would limit the equipment sales related to arc flash prevention.
Covid-19 Impact:
COVID-19 restrictions and safety measures may have led to delays in routine maintenance and testing of electrical systems, including arc flash protection relays. The pandemic disrupted global supply chains, which could have affected the availability of replacement parts for arc flash protection relays. Delayed or unavailable components could lead to longer downtime in the event of a malfunction, potentially increasing the risk of arc flash incidents.
The personal protective equipment segment is expected to be the largest during the forecast period
The personal protective equipment segment is expected to be the largest during the forecast period. Accessories such as gloves, visors, helmets, waterproof shirts, pants, and jackets are examples of personal protection equipment. The expansion of power infrastructure, the growth in power generating capacity, and the expansion in the transmission and distribution of energy are all responsible for the growth.
The utilities segment is expected to have the highest CAGR during the forecast period
The utilities segment is expected to have the highest CAGR during the forecast period owing rising investment in electrical networks and increasing demand for electricity from commercial, industrial and residential sectors. A fault current limiter, breaker, and relay make up the Arch flash protection system. The system manages the electrical equipment's current flow and guards against any electrical accidents that could occur from network problems.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. e variables that contribute to a safe working environment for employees are the laws and regulations established by regulatory groups. Moreover, the market is expanding due to a rise in worker safety awareness and increased costs associated with safety equipment purchases made by local businesses.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to growth and urbanization, leading to extensive electrical infrastructure. In the region, where industrial and electrical infrastructure is expanding quickly, arc flash protection relays are essential for protecting people, property, and machinery. Furthermore, energy efficiency and sustainability are becoming more and more important as environmental concerns increase.
Key players in the market
Some of the key players in Arc Flash Protection Relay market include General Electric Company, ABB Ltd, Schneider Electric SE, Siemens AG, DuPont de Nemours Inc., Larsen & Toubro, Toshiba Corporation, Mitsubishi Electric, Basler Electric, Littelfuse, Schweitzer Engineering Laboratories, Eaton, Arcteq and Ansell Limited.
Key Developments:
In August 2023, Siemens has launched a new generation of line monitoring relays. The SIRIUS 3UG5 line monitoring relays combine proven technology with new functions and applications. The relays are the easiest way to monitor standards-compliant grid stability and quality, ensuring proper system operation and a long service life of components such as motors or compressors.
In August 2022, Schneider Electric and Hitachi Energy announced that they have entered into a collaboration to provide greater customer value and accelerate the energy transition.
Types Covered:
• High Pressure Type
• Medium Pressure Type
• Low Pressure Type
• Other Types
Equipments Covered:
• Relays and Circuit Breakers
• Arc-Resistant Switchgear
• Arc Flash Detection Systems
• Optical Arc Flash Sensors
• Arc Flash Labels
• Personal Protective Equipment
• Other Equipments
Applications Covered:
• Power Converters
• Switchgear
• Sensors
• Transformers
• Motor Control Centers
• Other Applications
End Users Covered:
• Manufacturing
• Oil & Gas
• Utilities
• Transportation
• Processing Industries
• Infrastructure
• Construction
• Power
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Arc Flash Protection Relay Market, By Type
5.1 Introduction
5.2 High Pressure Type
5.3 Medium Pressure Type
5.4 Low Pressure Type
5.5 Other Types
6 Global Arc Flash Protection Relay Market, By Equipment
6.1 Introduction
6.2 Relays and Circuit Breakers
6.3 Arc-Resistant Switchgear
6.4 Arc Flash Detection Systems
6.5 Optical Arc Flash Sensors
6.6 Arc Flash Labels
6.7 Personal Protective Equipment
6.8 Other Equipments
7 Global Arc Flash Protection Relay Market, By Application
7.1 Introduction
7.2 Power Converters
7.3 Switchgear
7.4 Sensors
7.5 Transformers
7.6 Motor Control Centers
7.7 Other Applications
8 Global Arc Flash Protection Relay Market, By End User
8.1 Introduction
8.2 Manufacturing
8.3 Oil & Gas
8.4 Utilities
8.5 Transportation
8.6 Processing Industries
8.7 Infrastructure
8.8 Construction
8.9 Power
8.10 Other End Users
9 Global Arc Flash Protection Relay Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 General Electric Company
11.2 ABB Ltd
11.3 Schneider Electric SE
11.4 Siemens AG
11.5 DuPont de Nemours Inc.
11.6 Larsen & Toubro
11.7 Toshiba Corporation
11.8 Mitsubishi Electric
11.9 Basler Electric
11.10 Littelfuse
11.11 Schweitzer Engineering Laboratories
11.12 Eaton
11.13 Arcteq
11.14 Ansell Limited
List of Tables
1 Global Arc Flash Protection Relay Market Outlook, By Region (2021-2030) ($MN)
2 Global Arc Flash Protection Relay Market Outlook, By Type (2021-2030) ($MN)
3 Global Arc Flash Protection Relay Market Outlook, By High Pressure Type (2021-2030) ($MN)
4 Global Arc Flash Protection Relay Market Outlook, By Medium Pressure Type (2021-2030) ($MN)
5 Global Arc Flash Protection Relay Market Outlook, By Low Pressure Type (2021-2030) ($MN)
6 Global Arc Flash Protection Relay Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Arc Flash Protection Relay Market Outlook, By Equipment (2021-2030) ($MN)
8 Global Arc Flash Protection Relay Market Outlook, By Relays and Circuit Breakers (2021-2030) ($MN)
9 Global Arc Flash Protection Relay Market Outlook, By Arc-Resistant Switchgear (2021-2030) ($MN)
10 Global Arc Flash Protection Relay Market Outlook, By Arc Flash Detection Systems (2021-2030) ($MN)
11 Global Arc Flash Protection Relay Market Outlook, By Optical Arc Flash Sensors (2021-2030) ($MN)
12 Global Arc Flash Protection Relay Market Outlook, By Arc Flash Labels (2021-2030) ($MN)
13 Global Arc Flash Protection Relay Market Outlook, By Personal Protective Equipment (2021-2030) ($MN)
14 Global Arc Flash Protection Relay Market Outlook, By Other Equipments (2021-2030) ($MN)
15 Global Arc Flash Protection Relay Market Outlook, By Application (2021-2030) ($MN)
16 Global Arc Flash Protection Relay Market Outlook, By Power Converters (2021-2030) ($MN)
17 Global Arc Flash Protection Relay Market Outlook, By Switchgear (2021-2030) ($MN)
18 Global Arc Flash Protection Relay Market Outlook, By Sensors (2021-2030) ($MN)
19 Global Arc Flash Protection Relay Market Outlook, By Transformers (2021-2030) ($MN)
20 Global Arc Flash Protection Relay Market Outlook, By Motor Control Centers (2021-2030) ($MN)
21 Global Arc Flash Protection Relay Market Outlook, By Other Applications (2021-2030) ($MN)
22 Global Arc Flash Protection Relay Market Outlook, By End User (2021-2030) ($MN)
23 Global Arc Flash Protection Relay Market Outlook, By Manufacturing (2021-2030) ($MN)
24 Global Arc Flash Protection Relay Market Outlook, By Oil & Gas (2021-2030) ($MN)
25 Global Arc Flash Protection Relay Market Outlook, By Utilities (2021-2030) ($MN)
26 Global Arc Flash Protection Relay Market Outlook, By Transportation (2021-2030) ($MN)
27 Global Arc Flash Protection Relay Market Outlook, By Processing Industries (2021-2030) ($MN)
28 Global Arc Flash Protection Relay Market Outlook, By Infrastructure (2021-2030) ($MN)
29 Global Arc Flash Protection Relay Market Outlook, By Construction (2021-2030) ($MN)
30 Global Arc Flash Protection Relay Market Outlook, By Power (2021-2030) ($MN)
31 Global Arc Flash Protection Relay Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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