Global Arc Fault Circuit Interrupter Market: Snapshot
Arc fault circuit interrupters are a protective equipment against fires that can occur from sparkling or arcing. Arc faults can arise from poor connections, braches in wires, shorted wires, overheated or stressed electrical wires and cords, deteriorated wires, etc. AFCI are implemented in residential and commercial/industrial applications for detecting dangerous arcs and reducing risks.
The global arc fault circuit interrupters market is expected to exhibit a robust 5.1% CAGR between 2017 and 2025, rising from a valuation of US$3.7 bn in 2017 to close to US$5.6 bn by 2025.
The major factor affecting the growth of the global arc fault circuit interrupter market is the rising safety concern regarding electrical equipment in the residential segment. Arc fault are responsible for house fire incidents, leading to injuries and property damage caused by fire. Therefore the increasing number of these incidents has led to the passing of mandatory requirements for the installation of AFCIs, which will likely effectively diminish such incidents. Demand from the AFCI market is anticipated to increase in the near future due to the rising concern for the safety of commercial buildings and houses. In some countries such as the U.S., Canada, and Germany, mandatory regulations have been passed to implement arc fault circuit interrupters in upcoming and ongoing construction projects, ensuring steady growth of the arc fault circuit interrupters market in the coming years.
Branch/Feeder AFCI to Dominate Arc Fault Circuit Interrupter Market
The global arc fault circuit interrupter market has been segmented on the basis of type, fuel type and application. The type segment has further been divided into branch/feeder, outlet, and combination. The branch/feeder segment holds the largest share in the global arc fault circuit interrupter market and is expected to grow at a fast rate in the forecast period. Combination type arc fault circuit interrupters are anticipated to grow at the fastest rate during the forecast period, following the branch/feeder type segment.
On the basis of application, the market has been divided into residential and commercial/industrial. The residential segment is expected to grow at the fastest rate due to the increasing requirement for arc fault circuit interrupters in this application and regulatory compliances made by governments and forums to implement it.
Europe to Emerge as Significant Contributor, North America to Dominate
The global arc fault circuit interrupter market is expected to be driven by the North America region. The regional market was valued at close to US$1.5 bn in 2017, nearly twice as much as any other regional AFCI market, and is likely to exhibit the fastest CAGR of 5.6% till 2025 to emerge with a valuation of close to US$2.3 bn. Europe is estimated to contribute a major share in the overall AFCI market over the 2017-2025 forecast period, closely followed by Asia Pacific. The two markets are expected to exhibit a 5.2% and 4.9% CAGR over the forecast period, respectively, and both are likely to be valued at over US$1 bn by 2025. Meanwhile, South America and the Middle East and Africa are anticipated to grow at a relatively sluggish rate during the forecast period.
Key players profiled in the global arc fault circuit interrupter (AFCI) market include Eaton Corporation, General Electric, Siemens Industry, Inc., Legrand SA, Schneider Electric SE, and Leviton Manufacturing Co.
Several companies are focusing on the advancement of arc fault circuit interrupter devices due to the growing regulatory support to adoption of the same across the residential sector. Further, companies are introducing analysis tools for pinpointing the type of tripping and also offering dual combinations of AFCI and GFCI in a single unit to minimize the risk posed by AFCI mishaps. This is likely to remain a key trend in the global arc fault circuit interrupter market in the coming years.
Global Arc Fault Circuit Interrupter Market: Overview
ARC Fault Circuit Interrupter (AFCI) Market report provides analysis for the period 2015 – 2025, wherein the period from 2017 to 2025 is the forecast and 2016 is the base year. The report covers all the major trends and technologies playing influential role in the ARC Fault Circuit Interrupter (AFCI) market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to impact market’s growth during the said period. The study provides a complete perspective on global ARC Fault Circuit Interrupter market’s evolution throughout the above mentioned forecast period in terms of revenue (in US$ Mn).
The market overview section of the report demonstrates the market dynamics such as the drivers, restraints, and opportunities that influence the current nature and future status of this market, key indicators and trends. Key market indicators included in the report provide significance of the factors which are capable of changing the market scenario. These indicators are expected to define the market position during the forecast period. The key market indicator included in the report provides an overview about the global circuit breaker and fuses market. An attractiveness analysis has also been provided for every segment in the report, in order to provide a thorough understanding of the overall scenario in the ARC Fault Circuit Interrupter (AFCI) market. The report also provides an overview of various strategies adopted by the key players present in the market.
Global Arc Fault Circuit Interrupter Market: Segmentation
The report segments the market on the basis of type and application. The type segment includes branch/feeder, outlet and combination ARC Fault Circuit Interrupter (AFCI). On basis of application, the market is segmented into residential and commercial/industrial. The report provides in-depth segment analysis of the global ARC Fault Circuit Interrupter (AFCI) market, thereby providing valuable insights at the macro as well as micro levels.
This report provides all the essential information required to understand the key developments in the ARC Fault Circuit Interrupter (AFCI) market, growth trend of each segment and companies’ strategies that helps them to efficiently compete in the market. Also, the report provides insights related to trends and its impact on the market. Furthermore, Porter’s Five Forces analysis explains the five forces namely buyers bargaining power, suppliers bargaining power, threat of new entrant, threat of substitute and degree of competition in the ARC Fault Circuit Interrupter (AFCI) market. This report also provides the comprehensive value chain analysis for the ARC Fault Circuit Interrupter (AFCI) market. It explains the various participants including raw material supplier, manufacturers and distribution channel of the value chain operating in the market.
Global Arc Fault Circuit Interrupter Market: Competitive Dynamics
The report also highlights the competitive landscape of the global ARC Fault Circuit Interrupter (AFCI) market, positioning all the major players according to their presence in different regions of the world and recent key developments initiated by them in the ARC Fault Circuit Interrupter (AFCI) market. The comprehensive ARC Fault Circuit Interrupter (AFCI) market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting ARC Fault Circuit Interrupter (AFCI) market growth.
Eaton Corporation, General Electric, Fuze Inc., Leviton Manufacturing Co., Inc., Siemens Industry, Inc., Schneider Electric, and Legrand are some of the major players operating within the ARC Fault Circuit Interrupter (AFCI) market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Global ARC Fault Circuit Interrupter (AFCI) Market