ARC Fault Circuit Interrupter (AFCI)

ARC Fault Circuit Interrupter (AFCI)

Global ARC Fault Circuit Interrupter (AFCI) Market to Reach US$5.9 Billion by 2030

The global market for ARC Fault Circuit Interrupter (AFCI) estimated at US$4.1 Billion in the year 2023, is expected to reach US$5.9 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030. Branch / Feeder AFCI, one of the segments analyzed in the report, is expected to record a 5.1% CAGR and reach US$2.4 Billion by the end of the analysis period. Growth in the Combination AFCI segment is estimated at 5.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.4 Billion While China is Forecast to Grow at 6.4% CAGR

The ARC Fault Circuit Interrupter (AFCI) market in the U.S. is estimated at US$1.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$463.5 Million by the year 2030 trailing a CAGR of 6.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.2% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.

Global ARC Fault Circuit Interrupter (AFCI) Market - Key Trends & Drivers Summarized

An Arc Fault Circuit Interrupter (AFCI) is an advanced electrical device designed to enhance home and building safety by detecting and interrupting dangerous electrical arcs. These arcs can occur due to damaged or deteriorated wires, loose connections, or faulty appliances, potentially leading to electrical fires. AFCIs are capable of distinguishing between normal operational arcs, such as those from switches and motors, and hazardous arcs that could ignite surrounding materials. By promptly disconnecting the circuit when a hazardous arc is detected, AFCIs significantly reduce the risk of electrical fires, thereby protecting lives and property.

The development and adoption of AFCIs have been driven by stringent safety regulations and the increasing awareness of electrical fire hazards. Advances in sensor technology and microelectronics have improved the accuracy and reliability of AFCIs, enabling them to provide comprehensive protection in residential, commercial, and industrial settings. Modern AFCIs are integrated into circuit breakers, making them easy to install and maintain. These devices are now mandated by electrical codes in many countries for specific areas of homes, such as bedrooms and living rooms, where arc faults are more likely to occur. The integration of AFCIs with smart home systems further enhances safety by allowing homeowners to monitor and manage their electrical systems remotely.

The growth in the AFCI market is driven by several factors. Firstly, the increasing stringency of electrical safety regulations worldwide mandates the installation of AFCIs in new and renovated buildings, boosting market demand. Secondly, the rising awareness among consumers about the dangers of electrical fires and the benefits of AFCIs is encouraging widespread adoption. Thirdly, the construction industry`s growth, particularly in emerging economies, is propelling the demand for advanced electrical safety devices. Additionally, technological advancements in AFCIs, such as improved detection algorithms and integration with smart home systems, are enhancing their functionality and appeal. Lastly, the trend towards energy-efficient and smart homes is driving the market, as AFCIs contribute to the overall safety and management of modern electrical systems, aligning with consumer preferences for innovative and secure home environments.

Select Competitors (Total 48 Featured) -

• ABB Ltd.
• Eaton Corporation
• Fonrich (Shanghai) New Energy Technology Co., Ltd.
• I&C Technology Co., Ltd.
• Legrand SA
• Leviton Manufacturing Company, Inc.
• Schneider Electric SE
• Siemens Corporation

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