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this “Arc Flash Protection-Global Market Track and Analysis” Report has been added to ResearchAndMarkets.com supply.
During the COVID-19 crisis, the global arc flash protection market in 2020 is estimated to be USD 2.1 billion and is expected to reach a revised USD 3 billion by 2027, growing at a CAGR of 5.2% during the 2020 analysis period-2027.
The arc flash control system is one of the market segments analyzed in the report, and is expected to grow at a compound annual growth rate of 5.4% by the end of the analysis period, reaching USD 1.7 billion. After an early analysis of the business impact of the pandemic and the economic crisis it caused, the growth of the arc flash detection system division was re-adjusted to a revised compound annual growth rate of 4.9% for the next 7 years. This segment currently accounts for 26.8% of the global arc flash protection market.
In 2020, the United States accounted for more than 27% of the global market, while China is expected to grow at a compound annual growth rate of 8.4% from 2020 to 2027
The U.S. arc flash protection market is estimated to be USD 562.9 million in 2020. The country currently accounts for 26.96% of the share…
The full story on Benzinga.com
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