A new report from Zion Market Research (ZMR), “Arc Flash Protection Market by Equipment (Personal Protective Equipment and Arc Flash Detection & Control System) by End Users (Infrastructure, Utilities, Oil & Gas, and Others): Global Industrial Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023,” is predicting big things for this niche in the near future. According to the report, the global arc flash protection market stood at $1.86 billion in 2017. Industry analysts expect that number to reach $ 2.5 billion by the end of 2023.
“Arc flash protection market is predicted to gain traction over the years ahead with rising costs of electrical network systems and replacement of current electrical safety device,” says the author of this study.
Regionally, North America has been leading the worldwide arc flash protection market and is anticipated to continue on the dominant position in the years to come. Mounting focus on protection issues along with massive capital investments to develop robust electrical infrastructure facility are the main factors behind this dominance. For more information and to see the full report, visit the organization’s website.