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Electrical Safety Products Market Trends

Report ID: GMI8946
Published Date: Apr 2024
Report Format: PDF

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Electrical Safety Products Market Trends

Innovations in electrical safety products, such as arc flash protection devices, ground fault circuit interrupters (GFCIs), and surge protectors, drive market growth. Advancements in materials, design, and integration of smart technologies enhance the effectiveness and functionality of these products, thereby increasing their adoption. For instance, in February 2024, ABB disclosed that Alva, a distribution system operator based in Finland, had embraced ABB's novel touch voltage-based earth-fault current protection method (IFPTOC). This method strikes a delicate equilibrium between supply quality and safety, guaranteeing that the electrical safety thresholds within the network remain unbreeched.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electrical safety products was reached USD 27.1 billion in 2023 and is expected to register 5.9% CAGR from 2024 to 2032, owing to the growing awareness about electrical safety and stringent government regulations mandating the use of safety products in various industries worldwide.

Electrical safety products industry from the construction segment recorded 30% share in 2023 and is expected to register an appreciable CAGR up to 2032, due to heightened awareness of occupational safety and the importance of protecting construction workers from electrical hazards.

North America electrical safety products industry is expected to reach USD 15.2 billion by 2032 due to technological innovation in electrical safety products and investments in research and development to develop advanced safety solutions in the region.

3M Company, Leviton Manufacturing Co., Inc., Milliken & Company, MSA Safety Incorporated, National Safety Apparel, Inc., Oberon Company, Inc., Panduit Corporation, Saf-T-Gard International, Inc, Tyndale Company, Inc., are some of the major electrical safety products companies worldwide.