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San Francisco, June 30, 2021/PRNewswire/ - Global Industry Analyst Corporation (GIA), a leading market research company, today released a report entitled "ARC Fault Circuit Interrupter (AFCI)-Global Market Track "New Market Research Report and Analysis." The report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.
Factual overview version: 9; Release time: January 2021 Executive participation: 609 companies: 16-Participants involved include ABB Ltd; Eaton; Fengli (Shanghai) New Energy Technology Co., Ltd.; Legrand ; Leviton Manufacturing Company; Santon Holland BV; Schneider Electric SE; Siemens; SolarBOS, etc. Coverage: All major regions and key market segments. Market segments: type (branch/feeder, combination, other types); end-use (residential, commercial/industrial) geography: world; United States; Canada; Japan; China; Europe; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia ; United Arab Emirates; the rest of the Middle East; Africa.
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The global arc fault circuit interrupter (AFCI) market will reach $4.8 billion by 2026. Arc is a phenomenon that occurs when current jumps between two electrodes or a gap in a circuit. This arching may produce arc flash, which may cause current to flow or discharge through unintended paths. These flashes can ignite particles in the environment, including gases or gases. Since the arc temperature can exceed 10,000 degrees Fahrenheit, an arc flash may cause an electrical fire. As long as there is current flowing, an arc flash occurs. It is known that about 35% of arc flashes occur in electrical enclosures and panels, mainly because the panels contain different circuits, connections, and bus types. Arcing usually occurs due to circuit overload and overheating. The overheating is not only due to the circuit breaker, but also due to its connection to the bus. Damage will cause the circuit breaker to fail and allow current to continue to flow between the connections instead of tripping. Although the circuit breaker is designed to disconnect or trip the circuit connection before the problem is resolved, a damaged circuit breaker can cause continuous current flow, thereby increasing the threat of arcing.
During the COVID-19 crisis, the global market for ARC Failed Circuit Interrupters (AFCI) is estimated to be USD 3.6 billion in 2020 and is expected to reach USD 4.8 billion by 2026, with a compound annual growth rate of 4.9%. Analysis period. Branch/Feeder is one of the market segments analyzed in the report and is expected to grow at a compound annual growth rate of 4.9% by the end of the analysis period, reaching $2.1 billion. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the combined business unit was re-adjusted to a revised compound annual growth rate of 5.3% for the next 7 years. This segment currently accounts for 31.4% of the global ARC fault circuit interrupter (AFCI) market.
The US market in 2021 is estimated to be US$1.2 billion, while China is expected to reach US$364 million by 2026. The US ARC fault circuit interrupter (AFCI) market is estimated to be US$1.2 billion in 2021. The country currently accounts for 33.87% of the global market. China is the world's second largest economy, and the market size is expected to reach US$364 million by 2026, with a compound annual growth rate of 6.1% throughout the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 3.7% and 3.8%, respectively, during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 4.4%, while other European markets (as defined in the study) will reach $389.2 million at the end of the analysis period.
A key factor driving the demand for AFCI is the increasing concern for the safety of electrical equipment in the residential sector. Arc faults have been identified as the main cause of household fire accidents and may cause considerable property damage and personal injury. In recent years, the number of such fire accidents caused by arc faults has increased sharply. In view of the role of such components in reducing the risk of fire accidents, few countries have adopted mandatory requirements for the deployment of AFCI. In addition to the residential sector, the demand for AFCI in commercial buildings and residential buildings is also expected to grow, as people are increasingly concerned about the safety of such facilities due to electrical wiring or equipment failure. Some countries such as the United States, Germany, and Canada have passed mandatory regulations to ensure the adoption of AFCI in ongoing and upcoming construction projects. Such regulations designed to ensure the safety of residential and commercial spaces may ensure the continued growth of the global AFCI market. Through the application, the residential sector is expected to experience high growth during the analysis period due to the increasing adoption of AFCI in the industry, and is driven by the government's mandatory regulatory compliance that will drive adoption.
By end-use, the residential market segment will reach US$3 billion by 2026. The global residential (end-use) market segment in 2020 is estimated to be US$2.2 billion and is expected to reach US$3 billion by 2026, with a compound annual growth rate of 5.2 % During analysis. The United States is the largest regional market in the residential segment, accounting for 32.6% of global sales in 2020. China is expected to achieve the fastest compound annual growth rate of 6.5% during the analysis period, which will reach US$276.5 million during the analysis period by the end of 2020. more
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