Ground Fault Circuit Interrupter Market Size, Share & Industry Analysis, By Product Type(Receptacle, Portable, Cord Connected, Others), By Application (Power Generation, Construction, Electric Service Components, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105667 | Status : Ongoing

KEY MARKET INSIGHTS

The ground fault circuit interrupter (GFCI) is a fast-acting circuit breaker that is designed to shut off electric power during ground faults event electrical shock hazard in a short time. It occurs when there is a break in resistance and works by comparing the amount of current going and returning from the equipment.

Based on the product type, the market is segmented into receptacle, portable, cord-connected, and others. the portable GFCI type is expected to dominate the market owing to its compact design for plug-in and easy transport factor. Moreover, the portable type is incorporating the no-voltage release devices which disconnect power to the outlet if any conductor supply is open.

Based on the application, the market is segmented into power generation, construction, electric service components, and others. The power generation application is anticipated to dominate the market due to the increasing power demand across various locations, resulting in the need for power distribution and transmission equipment, directly impacting the ground fault circuit interrupter market.

One of the major drivers for the ground fault circuit interrupter market is the surging crashes and events caused due to electrical circuits. Moreover, the government has started initiatives and campaigns for increasing awareness about electrical incidents across various workspaces, communities, residential, which in turn has fueled up the ground fault circuit interrupter demand.

However, the adaption of new technologies or network protection systems such as underground transmission lines hinders market growth in the long run.

Key Market Driver -

The crashes in electric safety and growing awareness for electric safety in residential and utility

Key Market Restraint -

The adaption of new technologies associated with network protection

Key players covered:

Some of the major companies that are present in the ground fault circuit interrupter market are Eaton Corporation, ABB, Leviton, Hubbell, Molex, LEX Products, Emerson, Tower Manufacturing Corporation, NEMA, and Legrand.

Regional Analysis:

The ground fault circuit interrupter market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia Pacific is expected to hold a significant market in terms of demand for circuit interrupter due to the higher electric power demand in nations like India, China, and Indonesia. Following Asia-Pacific, North America and Europe have implemented stringent laws to reduce emissions & are more focused on renewable energy projects and energy-efficient sectors. This has led to new transmission & distribution lines being set up along with new production units. Further, the rise in commercial and industrial development has led to the expansion of power distribution networks across the region, enhancing the market landscape of circuit interrupter positively.

The Latin American circuit interrupter market is anticipated to grow in the coming years due to foreign investment in infrastructure and expansion plans for the electric network. This will drive the power grid installation to support electrification transportation across the region. In the Middle East and Africa, the expenditure on renewable energy infrastructure, and the replacement of power infrastructure are expected to be significant drivers for the ground fault circuit interrupter market.

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Segmentation

ATTRIBUTE	DETAILS
By Product Type	Receptacle Portable Cord Connected Others
By Application	Power Generation Construction Electric Service Components Others
By Geography	North America (the USA and Canada) Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe) Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

Key Industry Developments

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., a leading manufacturer of fiber optic. This acquisition will solidify Leviton as the single source manufacturer of the end-to-end system in connectivity and cables.

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Ground Fault Circuit Interrupter Market Report

PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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