Portable Ground Fault Circuit Interrupter Gfci Market | Contrive Datum Insights

The global Portable Ground Fault Circuit Interrupter (GFCI) Market is projected value of USD 326.6 Mn in 2022, growing at a CAGR of 4.7% by the end of the 2030.

Global Portable Ground Fault Circuit Interrupter (GFCI) Market Overview:

Most of the time, a ground fault happens when a conductor that carries electricity touches the ground, which causes a leak. A Portable Ground Fault Circuit Interrupter (GFCI) keeps a person from getting a severe electric shock if he or she accidentally steps into the electric path between the source and the ground surface. GFCIs help prevent deadly socks by cutting power to the circuit right away if the amount of energy going into the circuit is different from the amount coming back, which indicates a leak. The main thing that is expected to drive the demand for GFCIs in both residential and commercial settings is the growing use of GFCIs instead of regular receptacles to protect against short circuits and electrocution for anyone who plugs an electrical device into an electrical system.

From 2022 to 2030, the growth of the GFCI market is expected to be driven by government programmes that encourage the installation of GFCIs to protect against serious electrocution risks in a number of residential areas, such as bathrooms, hot tubs, pump rooms, and garages. GFCIs help prevent electrical fires and lessen the severity of other fires by stopping the flow of electricity in a circuit. Many times, GFCIs and AFCIs can be put together to make the most up-to-date technology for protecting circuits.

Portable Ground Fault Circuit Interrupter (GFCI) Market: Driver and Restraint

Rise in Electrical Crashing Spur GFCI Demand

The Electric Safety Foundation International (ESFI) is all about making sure that people in homes and businesses around the world are safe around electricity. National Electrical Safety Month is celebrated in many places, such as workplaces, communities, and schools. For the past few years, ESFI has been in charge of planning and coordinating the event. People are becoming more aware of the many steps they should take to keep themselves safe around electricity, thanks to the government's efforts, which are supported by this campaign.

About 15% of all electrocutions that happen around the world every year are caused by a problem with an electrical circuit. Because of this, it is likely that the number of homes that need GFCIs will grow in the near future. Also, a lot of work is being done to update the grid in both homes and businesses, which is replacing old circuits and creating opportunities for GFCI manufacturers during the given time frame. This is happening both in private homes and in businesses.

New Technologies and Installation Methods to Hinder the Growth of the Market

Portable ground fault circuit interrupters (GFCIs) may have to compete with new ways to things, like underground transmission lines, along with new technologies and network protection solutions, like GFN (Ground Fault Neutralizer).

GFCI compatibility is another problem that is stopping the market from growing. Permanently installed HVAC systems do not need GFCI protection. However, appliances with cords that are used in wet places, like spas and hot tubs, do need GFCIs to keep people safe. This is because GFCIs are made to detect electrical current when it comes in contact with water.

Global Portable Ground Fault Circuit Interrupter (GFCI) Market segmentation:

The global Portable Ground Fault Circuit Interrupter (GFCI) Market has been split up by product type and end user so that a full and detailed analysis of the market can be done. Information about the different types of GFCI on the market, such as portable power outlets, cord sets, and safety switch plug adapters. In this report, there are also facts about the demand for GFCI on Construction Sites, in Industrial Applications, in Commercial Applications, and in Residential Applications. This report also talks about the current market situation and expected demand trends for the above segments, such as end user and product type, in different regions, such as Europe, Asia Pacific, North America, the Middle East and Africa (MEA), and Latin America.

One of the most important factors that is expected to increase the adoption rate of Portable Ground Fault Circuit Interrupter (GFCI) at a large rate from 2022 to 2030 is that consumers are becoming more aware of safety issues related to protecting electrical appliances from fire hazards and preventing electrocution. Electrical Safety Foundation International (ESFI) is all about promoting electrical safety in both business and home settings. In the last few years, EFCI has worked hard to organise a National Electrical Safety Month in places like schools, communities, and workplaces to make people aware of different ways to stay safe around electricity.

Every year, about 15% of electrocutions around the world are caused by a problem with an electrical circuit. This is predictable to make more people want GFCIs in the years to come. A lot of work is being done to update the grid in both commercial and residential areas so that old circuits can be replaced. This is also projected to give GFCI manufacturers a better chance of making money in the near future.

Regional Analysis:

During the time frame of the forecast, North America is expected to have a large share of the global portable GFCI market. The Occupational Safety and Health Administration (OSHA) and the National Electrical Code (NEC) have strict rules and safety standards that have made portable GFCIs more popular in the region. More people working in construction and a growing industrial sector are also likely to help the market grow in this region.

During the forecast period, the portable GFCI market is expected to grow by a large amount in Europe. The growth can be attributed to the growing need for portable GFCIs in the construction and industrial sectors, as well as to the strict safety rules that the European Union has put in place (EU). The market is also expected to grow in this region because more money is being put into renewable energy sources and more charging stations are being built for electric cars.

During the forecast period, the portable GFCI market is expected to grow by a lot in the Asia-Pacific region. The growth can be explained by the fact that countries like China, India, and Japan are putting more money into building up their infrastructure and doing more construction. Also, the International Electrotechnical Commission (IEC) and the Occupational Safety and Health Administration (OSHA) have strict rules that will likely help the market grow in this region.

During the period of the forecast, the portable GFCI market is expected to grow slowly in Latin America. The growth can be attributed to more building being done, more people needing energy, and more money being put into the renewable energy sector. But the lack of knowledge about how important portable GFCIs are and the slow adoption of safety regulations in the region are likely to slow the growth of the market in this area.

During the period of the forecast, the portable GFCI market is expected to grow slowly in the Middle East and Africa. The growth is due to more money being put into the construction industry, more people wanting to use energy, and more attention being paid to worker safety. But the lack of knowledge about how important portable GFCIs are and the slow adoption of safety regulations in the region are likely to slow the growth of the market in this area.

Source Analysis:

Competitive Landscape of the Portable Ground Fault Circuit Interrupter (GFCI) Market Share Analysis:

Our examination of the competitive landscape of the portable Ground Fault Circuit Interrupter (GFCI) market will include a company-by-company examination of the market competition, including an overview, business description, product portfolio, key financials, and other relevant information for each company. We also provide market likelihood scenarios, an analysis of PEST factors, an examination of Porter's five forces, an examination of supply-chain dynamics, and market expansion plans.

The major players covered in Portable Ground Fault Circuit Interrupter (GFCI) Market are:

MOLEX, Leviton Manufacturing Co, Tower Manufacturing, Hubbell, ELEGRP, Eaton, Kaper, Emerson, Legrand, Schneider, NANDAO, Ericson, Elektron Berlin, Lex Products.

Recent Development:

• May 24, 2018 – Leviton said today that its GFCI and Dual Function AFCI/GFCI circuit breakers are the only ones on the market that meet the newly revised UL943 Standard for Ground-Fault Circuit-Interrupters. The UL943 standard was changed to improve auto-monitoring. Permanently connected Ground-Fault Circuit-Interrupters must now offer the same high level of life-safety protection as GFCI outlets. This means that GFCI circuit breakers are no longer exempt from End of Life (EOL) events.In February 2021, Legrand has announced GFCI outlets with USB charging connections. The GFCI outlets will include USB type A and type C charging and adapter fuel support charging and will shut off electric current in any event of a ground fault.
• In September 2020, Leviton has acquired Brek-Tek LLC, which is a top fibre optic maker. With this purchase, Leviton will continue to be the only company that can make the whole system of cables and connections from start to finish.

Global Portable Ground Fault Circuit Interrupter (GFCI) Market segmentation

The portable ground fault circuit interrupter (GFCI) market may be broken down into two categories: Type and Application. The growth that occurs within segments enables precise estimates and forecasts to be made for sales by Type and by Application in terms of volume and value for the period 2017-2028. You may be able to grow your company by targeting specific niche markets that are qualified with the help of this investigation.

By Type:

• Portable Power Outlet
• Cord Sets
• Safety Switch Plug Adapter

By Application:

• Construction Sites
• Industrial Application
• Commercial Application
• Residential Application
• Others

The key market players for global Portable Ground Fault Circuit Interrupter (GFCI) market are listed below:

• MOLEX
• Leviton Manufacturing Co
• Tower Manufacturing
• Hubbell
• ELEGRP
• Eaton
• Kaper
• Emerson
• Legrand
• Schneider
• NANDAO
• Ericson
• Elektron Berlin
• Lex Products