AFCI Receptacle Market Forecasts to 2030 - Global Analysis By Type (Combination AFCI (CAFCI), Branch/Feeder AFCI and Other Types), Application (Industrial Sector, Residential Sector, Commercial Sector and Other Applications) and By Geography

According to Stratistics MRC, the Global Arc Fault Circuit Interrupter (AFCI) Receptacle Market is accounted for $4,205.0 million in 2023 and is expected to reach $6,743.5 million by 2030 growing at a CAGR of 7.0% during the forecast period. An electrical safety device called an arc fault circuit interrupter (AFCI) Receptacle is intended to guard against electrical fires brought on by arc faults in residential electrical wiring. Arc faults happen when an electrical connection is incorrect or loose, which can lead to high temperatures and the burning of nearby materials like insulation or wood. Modern electrical safety rules must include AFCIs Receptacle as a key element. Hence, they contribute to making homes less susceptible to electrical fires.

According to the World Bank, cities presently house 56% of the world's population. This trend is predicted to continue, with the urban population more than tripling by 2050, when roughly seven out of ten people would live in cities

Market Dynamics:

Driver:

Growing concerns about fire safety and electrical safety

AFCI receptacles provide enhanced protection by detecting and mitigating arc faults, thereby reducing the risk of fires. The need for AFCI receptacles is being driven by the rising emphasis on electrical safety throughout the residential, commercial, and industrial sectors. Furthermore, the adoption of AFCI receptacles is being driven by rising awareness and concern about fire safety. Therefore, as a preventive precaution to avoid electrical fires, homeowners, businesses, and facility managers are progressively investing in AFCI receptacles.

Restraint:

High cost

The cost of AFCI receptacles is often more than the cost of normal receptacles, which may put some customers off, particularly in price-sensitive regions. Additionally, the rising price of AFCI receptacles may prevent widespread use, especially in residential and commercial buildings with limited funding. Therefore, these aspects hinder the market expansion.

Opportunity:

New innovations with strict rules

The efficiency and dependability of AFCI receptacles have been enhanced through developments in AFCI technology. The creation of combined AFCI (CAFCI) devices, which offer protection against both arc faults and ground faults, is one of these innovations. Moreover, the precision and efficiency of AFCI outlets have been improved by the integration of cutting-edge sensing technologies and intelligent circuitry, to guarantee public safety, governments and regulatory agencies are enforcing strict electrical codes and rules. Hence, the market for AFCI receptacles is significantly driven by compliance with these requirements.

Threat:

Lack of knowledge and compatibility

Despite increased awareness of electrical safety, it's possible that customers, contractors, and even some building professionals still lack a thorough understanding of AFCI technology and its advantages. Lack of knowledge and instruction concerning AFCI containers may limit market expansion. Furthermore, it's possible that not all electrical devices and systems are compatible with AFCI receptacles. They might sometimes end in nuisance tripping, in which the AFCI circuit abruptly cuts off power as a result of false alarms brought on by particular electrical load patterns. Thus, compatibility problems might be troublesome and pose a challenge to the use of AFCI receptacles.

COVID-19 Impact

Lockdowns, supply chain interruptions, and a decrease in investment in infrastructure projects all had an impact on the construction sector, which is a major driver of demand for AFCI receptacles. Moreover, the installation of AFCI outlets was slowed considerably by project cancellations and construction delays. In addition, the pandemic's economic downturn resulted in budget restrictions for many home and business projects, which decreased spending on electrical safety equipment. Therefore, the expansion of the market was adversely impacted by the general uncertainty and market volatility during the epidemic.

The combination AFCI (CAFCI) segment is expected to be the largest during the forecast period

The combination AFCI (CAFCI) segment is estimated to hold the largest share. In both residential and commercial settings, CAFCIs-advanced electrical safety devices-offer protection against arc faults and ground faults. These outlets are made to recognize hazardous electrical arcs and cut power to stop fires, improving overall electrical safety. Furthermore, the demand for CAFCI receptacles is being driven by increased awareness of the fire risks caused by arc faults as well as the growing importance of electrical code compliance. Hence, CAFCI segment is growing due to the incorporation of modern technology and increased product efficiency.

The industrial sector segment is expected to have the highest CAGR during the forecast period

The industrial sector segment is anticipated to have highest CAGR during the forecast period, due to their capacity to identify and reduce electrical arc faults, which pose severe fire dangers, AFCI receptacles are becoming more popular in industrial settings. Moreover, strong electrical safety precautions are needed in the industrial sector, which includes manufacturing plants, warehouses, and other heavy-duty applications. Moreover, by anticipating probable arc faults and cutting off electricity to stop fires, AFCI receptacles provide an additional level of security. Thus, the use of AFCI receptacles in the industrial sector is being driven by the growing emphasis on worker safety, adherence to electrical rules, and the requirement for dependable electrical systems in industrial settings

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to the demand for electrical safety devices is fuelled by the area's high population, increasing urbanization, and expanding construction sector. Adoption of AFCI receptacles is also influenced by rising fire risk awareness and strict electrical regulations. Additionally, there are prospects for AFCI receptacle installations in manufacturing facilities and other industrial applications due to the region's growing industrial sector, notably in nations like China and India. Therefore, the expansion of the market in the Asia Pacific is also aided by rising disposable income and rising living standards in the area.

Region with highest CAGR:

North America is expected to witness highest CAGR over the projection period, owing to a number of causes, such as the development of the construction sector, strict laws governing electrical safety, and increased knowledge of the dangers of electrical fires, is what motivate this demand. A technologically advanced infrastructure that places a strong emphasis on electrical safety solutions helps to further improve the region's strong demand for AFCIs. Furthermore, the incorporation of AFCIs is encouraged by the uptake of smart homes and building automation systems in North America. Thus, these elements, coupled with a robust regulatory environment, place North America in the position of being a market that is both attractive and has long-term growth potential for AFCI makers and stakeholders.

Key players in the market:

Some of the key players in the Arc Fault Circuit Interrupter (AFCI) Receptacle Market include: Siemens, Schneider Electric, Eaton, Asea Brown Boveri(ABB), General Electric(GE), Leviton Manufacturing Co., Inc., Hubbell Incorporated, Legrand, Carlon, Lutron Electronics Co., Inc. and Pass & Seymour.

Key Developments:

In August 2023, Siemens AG has signed an agreement to acquire Heliox, a Netherlands-based technology leader in fast charging solutions, serving e-Bus and e-Truck fleets and passenger vehicles.

In August 2023, Siemens launched a new generation of line monitoring relays. The SIRIUS 3UG5 line monitoring relays combine proven technology with new functions and applications

In February 2023, Leviton announced availability of five new OPT-X global fiber optic systems for customers worldwide. These globally available fiber systems broaden Leviton's ability to service multinational businesses with consistent global performance, support and product offerings.

In January 2023, Leviton, a leading provider in residential electric vehicle supply equipment (EVSE) and wireless smart home technology, announced the launch of EV Series Charging Stations with My Leviton app compatibility, available in Q1 2023. The new series includes 32, 48 and 80 Amp Level 2 charging stations that can power any electric vehicle in North America.

Types Covered:

• Combination AFCI (CAFCI)
• Branch/Feeder AFCI
• Other Types

Applications Covered:

• Industrial Sector
• Residential Sector
• Commercial Sector
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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