With the growing concern for safety in
industries such as electric, telecommunication, electronic, and automotive,
circuit breaker devices are growing in popularity. The Circuit Breaker market
is expected to grow at a CAGR of almost 6.5% during the forecast period.
The market is expected to be driven due to
operational safety and the expanding measures undertaken to integrate a
dependable and sustainable electrical infrastructure. As developing regions
across Asian and African nations witness frequent power lags as well as network
failures, the regions hold massive potential in the deployment of effective
electric products. The industry dynamics can also be positively influenced by
the increasing measures to prevent fire hazards, faults in electrical supply,
and relevant operation dereliction.
Market
Segmentation
The global circuit breakers market
segmentation is divided in terms of voltage, type, and end users.
By voltage, the market includes high
voltage, low voltage, and medium voltage segments. The low voltage circuit
breakers are the leading segment in this category. The segment is driven by the
continuing drive of rural electrification as well as regulatory proximities
towards the integration of distributed generation and renewable networks of
stand-alone nature.
By end-user, the market comprises of
residential, commercial, and industrial.
By type, the market divides into SF6,
vacuum, and others.
Regional
Analysis
The geographical segmentation of the
global circuit
breakers market covers 5 key regions, namely North America, Europe,
Latin America, Asia Pacific, and the Middle East & Africa.
The North American market is the leading
region in the global circuit breaker market, primarily due to the fast-paced
expansion in the production base over the years. The market contribution of the
North American region can be attributed significantly to the US. The US region
holds a major hand in the global market and is projected to continue its growth
trajectory in the forthcoming years as well. A major factor identified as the
key driver of the market is the positive regulatory shift towards the
replacement & retrofit of the conventional electrical equipment with
advance units. With an aim to curb down the curtailment rate in their Western
Transmission Network, regulators of the US have framed various plans in 2018 to
invest close to USD 10 billion in developing and improving the domestic
electric infrastructure.
The European region closely follows North
America to stand tall as the second-largest global circuit breakers market. The
Asia Pacific market is projected to experience growth at the fastest pace
during the forecast period. Herein, developing economies like China, Indonesia,
and India pose favorable growth potential as these countries continue to expand
their current power generation capacities and the supply infrastructure to
match up to the rising electricity demand.
Competitive
Landscape
The global circuit breakers market holds a
number of key and prominent players, including STAHL (Netherlands), Honeywell
International Inc. (US), ABB Group (Switzerland), Holley Metering Ltd. (China),
Siemens (Germany), General Electric (US), Schurter Electronics (Switzerland),
and Sensus (US).
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