Portable Ground Fault Circuit Interrupter (GFCI) Market Size, Share, Growth, and Industry Analysis, By Type (Cord-set GFCIs Type & Non-GFCI Outlets Type), By Downstream Industry (Construction Sites & Industrial), and Regional Forecast to 2032

Updated On: 22 November 2024

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PORTABLE GROUND FAULT CIRCUIT INTERRUPTER (GFCI) MARKET OVERVIEW

The Portable Ground Fault Circuit Interrupter (GFCI) Market Size was US$ 319.06 Mn in 2023 and is projected to touch US$ 505.55 Mn By 2032, Exhibiting a CAGR of 4.71% During the Forecast Period.

A portable ground fault circuit interrupter or simply GFCI, is used for electrical shock protection. This technology monitors the current in a given circuit and in under a second, it disconnects the said circuit in case it detects any variation that points to the current flowing where it is not supposed to. For example, water or a human being.

The global market for portable ground fault circuit interrupters (GFCIs) is poised for growth due to a rise in the enforcement of safety standards and an increase in public awareness about electric hazards. Thus, it is projected that companies will focus more on developing superior and user-friendly products to meet the needs of both consumers and regulators. In recent times, there has been a focus on improving safety measures, especially increasing the sensitivity and reducing the response times in tripping devices. This is critical especially in places where water is likely to be used such as building sites or outdoors.

GLOBAL CRISES IMPACTING PORTABLE GROUND FAULT CIRCUIT INTERRUPTER (GFCI) MARKET - COVID-19 IMPACT

"Increased Construction Safety Protocols After Pandemic Increased Demand in the Market"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The outbreak of the COVID-19 epidemic took the safety measures of the construction sector to another level and as a result, the demand for Portable Ground Fault Circuit Interrupters (GFCIs) went up significantly. As such, with most job sites requiring more stringent measures to keep electrical hazards at bay, the use of portable GFCIs became increasingly necessary. Amid increased health concerns, this rise in demand was mainly attributed to the emphasis on electrical safety. Also, the rise of home improvement projects during such lockdowns, as individuals sought to improve safety at home, contributed to the expansion of the market.

LATEST TREND

"The Integration of Smart Technology is on the Rise to Drive Market Growth"

One major force propelling the market is the proliferation of integrated smart technology in Portable Ground Fault Circuit Interrupters (GFCIs). The smart version of GFCIs has Wi-Fi/Bluetooth connectivity, which enables users to manage their electrical usage and obtain alerts about potential threats to their safety through an application. This added function enhances safety and attracts both end-users and professionals looking for advanced offerings. The increasing concern for electrical safety is anticipated to raise acceptance for the smart GFCIs making them the product of choice in household and commercial environments.

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PORTABLE GROUND FAULT CIRCUIT INTERRUPTER (GFCI) MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Cord-set GFCIs Type & Non-GFCI Outlets Type

• Cord-set GFCIs Type: Cord-and-plug GFCIs are available within the body of the tool or extension cord which provides an in-built ground fault protection. They are self powered and very ideal for outdoor, construction and other electric hazard prone areas.

• Non-GFCI Outlets Type: Non-GFCI Outlets refers to standard wall non-ground-fault circuit-interrupter protection. Although ground fault circuit interrupters are not used in any way, these outlets are usually combined with ground fault circuit interrupters to provide additional protection in wet or dirty situations.

BY DOWNSTREAM INDUSTRY

Based on downstream industry, the global market can be categorized into Construction Sites & Industrial

• Construction Sites: Due to the elevated prospects of electrical risks in such settings, the construction industry is a major end-user of portable GFCIs. Moreover, the growing safety regulations and the need to ensure the safety of workers are the factors which add to the need for easily transportable cord-set GFCIs across any work sites.

• Industrial: In workplaces, specially constructed portable GFCI and GFCI reels are very useful for safety protection of workers using electric power tools and equipment in wet or unsafe areas. Manufacturing and construction activities, as well as warehouse operations incorporate the use of GFCI devices for the avoidance of electric shock and ensure safety measures are to the highest level.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

DRIVING FACTORS

"Enforcement of Safety Regulations Worldwide to Boost the Market"

A factor in the portable ground fault circuit interrupter (GFCI) market growth is the enforcement of safety regulations worldwide. In order to safeguard workers and consumers against electrical risks, especially in challenging environments such as construction sites or outdoor activities, businesses and regulatory authorities are in turn adopting tougher electrical safety requirements. Such regulations require the installation of GFCIs, therefore increasing demand as companies seek to adhere. The increasing attention towards safety not only improves the understanding of the GFCIs in the market but also inspires the manufacturers to broaden their GFCIs range, thus contributing to the growth of the market.

"Increased Awareness About Electrical Safety to Expand the Market"

The increased awareness about electrical safety is another key aspect of the portable ground fault circuit interrupter (GFCI) market. As a result of consumers and businesses alike showing a growing sensitivity to electrical hazards, the need for GFCIs increases. This is due to public campaigns, safety education programs, and increased media focus on the accidents caused by electrical faults. Home owners, construction sites, and even industries are installing GFCIs to avoid electrical shocks as well as adhere to safety regulations, thereby driving growth and development in the GFCI market.

RESTRAINING FACTOR

"GFCIs may not be Compatible With Older Electrical Systems to Potentially Impede Market Growth"

A restraining element within the growth of the portable ground fault circuit interrupter (GFCI) market is the GFCIs may not be compatible with older electrical systems. Several GFCIs incorporate the need for modern wiring and electrical layouts, hence their installation in older structures is difficult. Retrofitting these systems could be expensive and sophisticated and thus discourages residential and commercial use of GFCIs. This drawback may hinder growth prospects of the market especially in countries where the infrastructure is old.

OPPORTUNITY

"Increasing Adoption of Renewable Energy Systems To Create Opportunity for the Product in the Market"

The rising implementation of energy sources such as solar and wind power, which demand more sophisticated electrical safety measures, is giving birth to opportunities in the portable Ground Fault Circuit Interrupter (GFCI) market. The recent rise in home improvement projects by homeowners, more so during and after the pandemic, has also elevated the need for GFCIs. Furthermore, the growing construction activities in emerging countries, where there is increased enforcement of safety regulations, presents a huge market opportunity.

CHALLENGE

"Higher Initial Cost Compared to Standard Electrical Outlets Could Be a Potential Challenge for Consumers"

There are other challenges which may hinder the growth of the GFCI market for consumers, especially regarding the portable version of the device. This is due to the replacement device being more costly than the normal electrical outlets. In price sensitive regions particularly those with low disposable income, GFCI installations may be costly leading to minimal market penetration. The situation may also be different in such regions where the electrical concerns are not emphasised and GFCIs are viewed as luxuries rather than necessities. In these cases, lack of understanding of the dangers that GFCIs help to avoid and their advantages may cause specific segments of the market to stagnate.

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PORTABLE GROUND FAULT CIRCUIT INTERRUPTER (GFCI) MARKET REGIONAL INSIGHTS

NORTH AMERICA (U.S. COMPULSORY)

North America holds the lion's share of the Portable GFCI market owing to the safety regulation enforcement and electric safety practices more known by the population. In the United States portable ground fault circuit interrupter (GFCI) market construction industry, GFCIs are often used due to  guidelines which advocate for the safety of the workers. Furthermore, the region is witnessing growth due to increase in demand for home enhanced products and the presence of major market players.

EUROPE

The Portable GFCI industry in Europe is gradually expanding thanks to the stringent electrical safety and sustainability measures. Nations such as Germany, the UK, and France represent core markets because of the continuous growth in infrastructure development and industrial change. Heightening knowledge about occupational health and safety, as well as the government's commitment towards minimising electrical-related accidents, is facilitating the use of GFCIs in construction and manufacturing industries.

ASIA

The market of Portable GFCI is experiencing growth in Asia due to rising urbanisation, construction activities and industrialisation. Emerging economies such as China, India and Southeast Asian nations are being highlighted as regions where safety regulations are being implemented increasingly. Given the rise in infrastructural projects, the demand for portable GFCIs is expected to grow, particularly in the construction and manufacturing sectors. Nevertheless, in some regions of Asia, low electrical safety awareness may act as a market deterrent.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The rising demand for the Portable Ground Fault Circuit Interrupters (GFCI) market is expected to be supported by key players through innovation and market expansion strategies. With the ever-changing demand of the consumers, companies have developed modern GFCIs with improved smart technologies and smaller sizes for easy use. Besides, these companies are undertaking partnerships, mergers, and acquisitions that enable them to promote their products more effectively in the target markets. These companies are also tackling the market in ways that address the growing need for electrical safety solutions by prioritising product enhancement and adhering to regulatory standards.

LIST OF TOP PORTABLE GROUND FAULT CIRCUIT INTERRUPTER (GFCI) COMPANIES

• Tower Manufacturing (U.S.)
• MOLEX (U.S.)
• Emerson (U.S.)
• Eaton (Ireland)
• Lex Products (U.S.)

KEY INDUSTRY DEVELOPMENT

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.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The Portable Ground Fault Circuit Interrupters (GFCIs) market is poised for a continued boom pushed by enforcement of safety regulations worldwide and increased awareness about electrical safety. Despite challenges, which include higher initial cost compared to standard electrical outlets. Key industry players are advancing via technological upgrades and strategic marketplace growth, enhancing the supply and attraction of Portable Ground Fault Circuit Interrupters (GFCIs). As customer choices shift towards smart technology options, the Portable Ground Fault Circuit Interrupters (GFCIs) market is expected to thrive, with persistent innovation and a broader reputation fueling its destiny prospects.