Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "ARC Fault Circuit Interrupter (AFCI): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for ARC Fault Circuit Interrupter (AFCI) estimated at US$3.9 Billion in the year 2022, is projected to reach a revised size of US$6 Billion by 2030, growing at a CAGR of 5.6% over the analysis period 2022-2030.
Branch/Feeder, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$2.5 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Combination segment is readjusted to a revised 5.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 7% CAGR
The ARC Fault Circuit Interrupter (AFCI) market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$474.7 Million by the year 2030 trailing a CAGR of 7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$483 Million by the year 2030.
Select Competitors (Total 16 Featured) -
- ABB Ltd
- Eaton Corporation
- Fonrich (Shanghai) New Energy Technology Co., Ltd.
- Legrand SA
- Leviton Manufacturing Company, Inc.
- Santon Holland BV
- Schneider Electric SE
- Siemens Corporation
- SolarBOS
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 306 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.9 Billion |
| Forecasted Market Value (USD) by 2030 | $6 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
- World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- An Introduction to ARC Fault Circuit Interrupter (AFCI)
- Types of Arc Fault Circuit Interrupters
- Global Market Prospects & Outlook
- Developed Regions Lead Global AFCI Market
- Recent Market Activity
- ARC Fault Circuit Interrupter (AFCI) - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Risk of Fire Incidents Attributed to Faulty Electrical Wiring or Equipment Drives Focus onto AFCIs
- Number of Fire Incidents in the US for 2009-2018
- Common Causes of Electrical Fire
- Leading Causes of Residential Building Fires in the US (in %) for 2018
- Leading Causes of Non-Residential Building Fires in the US (in %) for 2018
- Rising Concerns over Safety of Electrical Equipment and Need to Prevent Fire Incidents in Residences Drives Market
- Surging Demand for Electricity and the Consequent Pressure on Electrical Systems & Wiring Enhances Fire Risk, Fueling Need for AFCIs
- Global Electricity Generation in Billion kWh for the Years 2010, 2020, 2030, 2040 and 2050
- China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
- Mandatory Regulations for Implementation of Arc Fault Circuit Interrupters in Construction Projects to Fuel Market Prospects
- NEC Requirements Related to AFCIs
- Rising Prominence of AFCIs in Commercial Buildings
- Role of AFCI in Protecting Solar PV Systems in Buildings
- COVID-19 Impact on Solar Industry: Solar PV Capacity Additions (in GW) by Sector for 2019 and 2020
- Solar PV Capacity Additions (in GW) by Sector for China, Europe, USA and India: 2019
- Introduction of Analysis Tools for Identifying Tripping Type for Reducing Risk of AFCI Incidents Drives Growth
- AFCI and GFCI Dual Combinations in Single Unit Presents Growth Opportunity
- AFCI Not a Replacement to GFCI
- Construction Industry: A Vital Determinant of Growth in AFCI Market
- World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
- Investments in Infrastructure Projects
- Projected Infrastructure Investment Needed (in US$ Trillion) by Region Over the Period 2016-2040
- Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
- Challenges Facing Arc Fault Circuit Interrupters (AFCIs) Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ms6k7l
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