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Arc Fault Circuit Interrupter (AFCI) Market 2023 Upcoming Trends and Forecast to 2028

Due to the COVID-19 pandemic, the global Arc Fault Circuit Interrupter (AFCI) market size is estimated to be worth USD 4.1 billion in 2022 and is forecast to a readjusted size of over USD 4.6 billion by 2028 with a CAGR of 2.0% during the review period.

 

Arc Fault Circuit Interrupter (AFCI) Market – Competitive Analysis:

This article offers a rough analysis supported by reliable statistics on sales and revenue by players for the period 2017-2023. It also includes brief introduction of possible opportunities, market analysis and insights, market segment analysis and main markets as follow..

Attractive Opportunities In the Arc Fault Circuit Interrupter (AFCI) Market:

The Global Arc Fault Circuit Interrupter (AFCI) market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2028. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

The primary function of an Arc Fault Circuit Interrupters (AFCI) is to detect and identify dangerous grounding, parallel, and series Arc faults, and to actuate the device that disconnects the current in time to avoid electrical fire. When an arc fault occurs, because the current intensity is small, lower than the set value of the over current protection widely installed in the power system, especially in the low-voltage distribution field, the installation of AFCI arc fault circuit breaker in the distribution line terminal can detect the arc in time and cut off the circuit, effectively reducing the loss caused by the arc.  At the first beginning, only some luxury apartments builders are adopting AFCI devices to provide the best electrical safety protection, but now it is mandatory product for using at more and more locations in U.S.

Market Analysis and Insights

Fully considering the economic change by this health crisis, Branch/Feeder Type Arc Fault Circuit Breakers accounting for % of the Arc Fault Circuit Interrupter (AFCI) global market in 2021, is projected to value USD million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Residential Sector segment is altered to an % CAGR throughout this forecast period.

The major global fault arc breaker (AFCI) manufacturers include Faith Electric Manufacture are now pushing the sales of the AFCI products.  At present, AFCI is mainly divided into branch/feeder type, combined AFCI (CAFCI) and others, of which combined AFCI (CAFCI) is the main type of AFCI, accounting for about 74% of the global market.

With the popularity of AFCI receptacles in more and more houses, the house owners will realize the importance of electrical protection therefore are willing to pay the additional cost for installing the devices.  This will bring a trend that the house need AFCI receptacles for necessary electrical protection.  The production cost will be lower and lower because of the scale effect, this will promote the applications in more and more placements.

Market Segments Analysis:

This article has explored the key segments: by Type and by Application.

On the basis of Product Type, they can split into :

● Branch/Feeder Type Arc Fault Circuit Breakers
● Combined AFCI (CAFCI)
● Other

On the basis of the End Users/Applications, it comes from

● Residential Sector
● Commercial/Industrial Sector

 

The main markets for the Arc Fault Circuit Interrupter (AFCI):

Region Wise the global trend is analyzed across:

● North America(United States, Canada)

● Europe(Germany, France, U.K., Italy, Russia)

● Asia Pacific(China, Japan, South Korea, Taiwan, Southeast Asia, India, Australia)

● Latin America(Mexico, Brazil)

● Middle East and Africa(Turkey, Saudi Arabia, UAE, Rest of MEA)


Post time: Jan-11-2023