PUBLISHER: Value Market Research | PRODUCT CODE: 1288904
PUBLISHER: Value Market Research | PRODUCT CODE: 1288904
The global demand for Arc Fault Circuit Interrupter Market is presumed to reach the market size of nearly USD 10.82 BN by 2030 from USD 6.54 BN in 2022 with a CAGR of 6.5% under the study period 2023 - 2030.
AFCIs are utilized in residential and commercial/industrial applications to detect dangerous arcs and reduce risks. Circuit breakers that protect against fires caused by sparks or arcing are called arc fault circuit interrupters (AFCI). Arcing issues, wire bracing, shorted wires, overheated or stressed electrical cables, cords, broken wires, and other concerns can all be caused by poor connections. An arc fault circuit interrupter is a circuit breaker that detects an electric arc in the circuit it is designed to protect and shut it down to prevent electrical fires. An AFCI distinguishes between a harmless arc (occurring naturally when switches, plugs, and brushed motors are turned on) and a potentially dangerous arc (that can happen, for example, in a lamp cord that has a broken conductor).
Many house fires are caused by arc faults, resulting in injuries and property damage. As a result of the increasing frequency of these instances, obligatory AFCI installation regulations have been passed, likely limiting the incidence of such incidents. This specific factor is boosting market growth. Mandatory rules requiring arc fault circuit interrupters in new and ongoing construction projects have been given in various countries, thereby driving the arc fault circuit interrupters market growth in the coming years. Increased government support for home safety standards is one of the key factors driving the market's growth. On the other hand, arc fault circuit interrupter manufacturing defects are impeding the market's growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of arc fault circuit interrupter. The growth and trends of arc fault circuit interrupter industry provide a holistic approach to this study.
This section of the arc fault circuit interrupter market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Arc Fault Circuit Interrupter market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the arc fault circuit interrupter market include Eaton Corporation, General Electric, Fuze Inc., Leviton Manufacturing Co., Inc., Siemens Industry, Inc., Schneider Electric, and Legrand. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies