Global Arc Flash Protection Market to Reach $2.3 Billion by 2024

Arc flash is an electrical accident that creates a loud and high-temperature explosion, due to sudden release of the energy caused by electric arc. Arc temperature can be as high as 35,000°F, four times higher than the temperature on surface of the sun that can vaporize surrounding metal, set fires, and cause fatal burns to people located in the area of the incident. Further, the sound associated with arc flash pressure can be as high as 160 decibels (dB), the exposure to which can instantly rupture human ear drums. Arc flash occurs due to various reasons. Accidental dropping of tools or entry of foreign objects into an equipment, accumulation of dust, faulty equipment, poor maintenance, careless removal or replacement of device and cover, misalignment of moving contacts, and corrosion, dirt contamination or breakdown of dielectric are some of the reasons. Common hazards of arc flash include severe burns, blast injuries, shrapnel wounds, pressure wave injuries, lung blast injuries, blindness, and ruptured eardrums, among others.

Since arc flash, although a rare event, can cause significant loss of life and damage to property in the accident zone, arc flash protection equipment are highly preferred for safety as well as productivity of electrical equipment. Arc flash protection equipment, when deployed in an electrical network, aid in minimizing the shutdown risks, reducing related damage, and optimizing the maintenance effort. These solutions enable passive protection for most switchgear, as well as active protection by combining various sensors to survey arc ignition at any place inside MV or LV switchgear. Furthermore, advanced version arc flash protection tools come with disturbance recording, default discrimination, and IEC 61850 communication capabilities to add new level of efficiency in arc flash protection. In addition, latest range of arc flash protection solutions are being offered in compact designs to ensure quick installation, and in compliance with most stringent global regulations governing arc flash safety.

Amid the COVID-19 crisis, the global market for Arc Flash Protection is projected to reach US$2.3 Billion by 2024, registering a compounded annual growth rate (CAGR) of 5.0% over the analysis period. The United States represents the largest regional market for Arc Flash Protection, accounting for an estimated 27.5% share of the global total. The market is projected to reach US$644.3 Million by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 8.1% over the analysis period. Factors such as sustained expansion in manufacturing sector, progressive growth in power and energy infrastructure deployments, increased spending on oil & gas facilities, and robust investments on infrastructure construction and transportation facilities, have contributed immensely to growth and progress of the arc flash protection equipment market. Increased willingness among enterprises across various industrial sectors towards improving the safety of their electrical assets and wellbeing of workforce promoted significant growth in uptake of these solutions. At the same time, implementation of arc flash regulations by entities such as Occupational Safety and Health Administration (OSHA) and National Fire Protection Association (NFPA) induced healthy trajectory in deployments of arc flash protection tools. Developed regions including the US and Europe have driven momentum in the arc flash protection equipment market over the years. Both the US and Europe collectively account for more than half of total market, and the dominance of these regions is likely to continue through the coming years. On the other hand, developing regions, especially China and other Asia-Pacific countries, continue to exhibit fast paced growth in terms of adoption of arc flash protection equipment. While China is identified as the fastest growing regional market over the review period, Asia-Pacific is projected to exhibit second fastest growth.