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ARC Fault Circuit Interrupter (AFCI) - Global Market Trajectory & Analytics

  • ID: 5140430
  • Report
  • February 2022
  • Region: Global
  • 306 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Ltd
  • Eaton Corporation
  • Legrand SA
  • Santon Holland BV
  • Schneider Electric SE
  • Siemens Corporation

Global ARC Fault Circuit Interrupter (AFCI) Market to Reach $4.8 Billion by 2026


Electrical arcing is a phenomenon that occurs when electrical current jumps between two electrodes or a gap in the circuit. Such arching has the potential to produce arc flash that can cause electricity to flow or discharge over unintended path. These flashes are capable of igniting particulates in the environment including gas or gas. With arcing temperatures capable of exceeding 10,000 degrees F, there is potential for electrical fires to emerge due to the arc flashes. Arc flashes can occur wherever there is flow of electrical current. About 35% of arc flashes are known to occur in electrical enclosures and panels, mainly because of the varying types of circuits, connections and buses contained by the panel. Arcing generally occurs due to overloading and overheating of the circuit. The overheating is not just attributed to the circuit breaker but also due to it being connected to the bus. Damage can cause circuit breaker to malfunction and allow electricity to continue flowing between the connections rather than trip. While a circuit breaker is intended to break or trip the circuit connection until the resolution of the issue, a damaged circuit breaker causes continues flow of electricity, raising the threat of arcing.

Amid the COVID-19 crisis, the global market for ARC Fault Circuit Interrupter (AFCI) estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$4.8 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Branch/Feeder, one of the segments analyzed in the report, is projected to grow at a 4.9% CAGR to reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Combination segment is readjusted to a revised 5.3% CAGR for the next 7-year period. This segment currently accounts for a 31.4% share of the global ARC Fault Circuit Interrupter (AFCI) market.



The U.S. Market is Estimated at $1.2 Billion in 2021, While China is Forecast to Reach $364 Million by 2026


The ARC Fault Circuit Interrupter (AFCI) market in the U.S. is estimated at US$1.2 Billion in the year 2021. The country currently accounts for a 33.87% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$364 Million in the year 2026 trailing a CAGR of 6.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR while Rest of European market (as defined in the study) will reach US$389.2 Million by the close of the analysis period.

A key factor driving demand for AFCIs is the growing concern about safety of electrical equipment in residential sector. Arc faults are identified as a major cause of fire incidents in homes, and can cause considerable damage to property, and injuries to people. With the recent years witnessing a surge in number of such fire incidents attributed to arc faults, few countries have adopted mandatory requirements for deployment of AFCIs, given the role of such components in reducing risk posed for fire incidents. In addition to residential sector, demand for AFCIs is also anticipated to grow in the commercial buildings and houses, as concerns grow over safety of such facilities due to fault electrical wiring or equipment. Some countries like the US, Germany and Canada have adopted mandatory regulations that are aimed at ensuring adoption of AFCIs in ongoing as well as upcoming construction projects. Such regulations, aimed at ensuring safety of residential and commercial spaces, are likely to ensure sustained growth in the global AFCI market. By application, residential segment is expected to witness high growth over the analysis period led by the growing adoption of AFCIs in the sector and propelled by the mandatory regulatory compliances of governments that will fuel adoption.

By End-Use, Residential Segment to Reach $3 Billion by 2026


Global market for Residential (End-Use) segment is estimated at US$2.2 Billion in 2020, and is projected to reach US$3 Billion by 2026 reflecting a compounded annual growth rate of 5.2% over the analysis period. United States constitutes the largest regional market for Residential segment, accounting for 32.6% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.5% over the analysis period, to reach US$276.5 Million by the end of the analysis period.

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
Frequently Asked Questions about the Global Market for ARC Fault Circuit Interrupter (AFCI)

What is the estimated value of the Global Market for ARC Fault Circuit Interrupter (AFCI)?

The Global Market for ARC Fault Circuit Interrupter (AFCI) was estimated to be valued at $3.6 Billion in 2020.

What is the growth rate of the Global Market for ARC Fault Circuit Interrupter (AFCI)?

The growth rate of the Global Market for ARC Fault Circuit Interrupter (AFCI) is 4.9%, with an estimated value of $4.8 Billion by 2026.

What is the forecasted size of the Global Market for ARC Fault Circuit Interrupter (AFCI)?

The Global Market for ARC Fault Circuit Interrupter (AFCI) is estimated to be worth $4.8 Billion by 2026.

Who are the key companies in the Global Market for ARC Fault Circuit Interrupter (AFCI)?

Key companies in the Global Market for ARC Fault Circuit Interrupter (AFCI) include ABB Ltd, Eaton Corporation, Fonrich (Shanghai) New Energy Technology Co., Ltd., Legrand SA, Leviton Manufacturing Company, Inc., Santon Holland BV, Schneider Electric SE and SolarBOS.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd
  • Eaton Corporation
  • Legrand SA
  • Santon Holland BV
  • Schneider Electric SE
  • Siemens Corporation

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 16 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

UNITED STATES

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Poised for Decline Amidst the COVID-19 Pandemic
  • Current Negative Trend in the Residential Construction Sector Discourages the Market
  • Key Indicators for US Residential Construction Market
  • As Electrical Faults Emerge as a Key Reason of Home Fires, AFCI Installations Become Imperative
  • Home Fires Attributed to Electrical Failure/ Malfunction by Type of Equipment Causing Ignition for the Period 2012-2016
  • Type of Electrical Distribution or Lighting Equipment in Home Fires for 2012-2016
  • Electrical Codes and Standards

CANADA

JAPAN

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • ARC Fault Circuit Interrupter (AFCI) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 16
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • 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
Note: Product cover images may vary from those shown