Electrical Safety Products Market: Introduction
Transparency Market Research delivers key insights on the global electrical safety products market. In terms of revenue, the global electrical safety products market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global electrical safety products market.
The global electrical safety products market is affected by several factors, including rising concerns regarding employee safety across various end-use industries and development of the power utility sector. Thus, expanding application of electrical safety products in different sectors is propelling the global market for electrical safety products.
Electrical Safety Products Market: Prominent Regions
Asia Pacific dominates the global electrical safety products market with China in the dominating position despite market slowdown. The U.K is an attractive market in Europe, while Germany is expected to be the largest market. In South America, Mexico is opening doors for new opportunities. The electrical safety products market in Middle East & Africa is set to grow at a moderate rate due to various global events lined up in the upcoming years. The electrical safety products market is projected to be driven by increasing safety concerns coupled with large scale projects in all geographies.
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Asia Pacific is the biggest and fastest growing market for electrical safety products. Asia Pacific being a mix of developed and developing countries is likely to provide better opportunities for the electrical safety products market during the forecast period. Economic growth and high demand for electricity has increased the demand for offshore exploration and production in the region.
Germany is the largest electrical safety products market in Europe and is set to maintain its dominance during the forecast period. Germany’s power grid ranks among the most reliable in the world despite rapid expansion of renewables. Germany has planned to install new transmission lines between northern and southern Germany, which is expected to be completed by 2025.
The primary energy demand in Middle East & Africa is likely to rise at an annual rate of 1.9% through 2035, requiring a significant increase in generating capacity. The consumption of electricity in Saudi Arabia has been increasing steadily since the last few decades. The electricity market in Saudi Arabia is showing an accelerated growth rate, which can be attributed to higher consumption rates in commercial, industrial, and private sectors. Initiatives to upgrade existing infrastructure and development of smart grids is projected to drive the electrical safety products market in the region during the forecast period.
Electrical Safety Products Market: Competition Landscape
Detailed profiles of providers of electrical safety products have been given in the report to evaluate their financials, key product offerings, recent developments, and strategies. Key players operating in the global electrical safety products market are Aktywizacja, Ansell Ltd., BSD GmbH, Bulwark, Charnaud, Chicago Protective Apparel, Cintas Corporation, COFRA S.r.l., Dupont, Emdesa, Enespro PPE, Fameca/SF Electric,