GFCI Receptacles Market Report

Market Insights

Ground fault circuit interrupter (GFCI) primarily occurs when a current-supplying conductor becomes involved with the bottom causing a brief circuit. GFCI is especially accustomed to protecting someone from a harsh shock who accidentally becomes a component of the electrical path stuck between the bottom surface and source.

Significant adoption of GFCI receptacles over traditional receptacles to offer protection from short circuits along with the measures taken by the government to promote the adoption of GFCIs at commercial and residential applications, which augment the market growth in the following years. However, lack of awareness about the installation is the major factor hampering the industry growth during the review period.

The COVID-19 outbreak has moderately affected the GFCI receptacles industry. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Owing to the worsening pandemic situation, the market dynamics have changed to a great extent. The nations’ lockdown and other government restrictions are affecting the economies over the globe.

Segment's Analysis

Application Trends

"The commercial segment accounted for the largest market share."

Based on application, the GFCI receptacles market is categorized into commercial, residential, and industrial. The commercial segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. The extensive grid modernization activity taking place across the commercial sector to replace the old-age circuit is expected to provide a better opportunity for different GFCI manufacturers in the coming years, thereby bolstering the segment growth.

Regional Insights

"Asia Pacific accounted for the largest market share."

By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years. This is mainly ascribed to the strong presence of consumer electronics and semiconductor companies in South Korea, China, Taiwan, and Japan. Also, the growing demand for effective and efficient electrical load management systems from the rapidly growing industrial sector further proliferates the regional market growth.

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Key Players

Key players operating in the GFCI receptacles market are-

• Hubbell (US)
• Leviton (US)
• Pass & Seymour (US)
• Eaton (Ireland)
• Emerson (US)
• Snapconnect (Netherlands)
• Myers Electric (US)
• Bryant Service (US)
• The Reynolds Company (US)
• R&R Supply Company (US).

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s GFCI receptacles market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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• Detailed profiling of additional market players (up to 3 players)
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• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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