Circuit Breaker Market Scenario
Circuit breakers are pre-set
values in percentage terms. These are automatically functioning electrical
switches, which are designed to secure electrical networks from being damaged
by the excess current from overload or even short circuit. The primary and the
basic functioning of the circuit breaker is to interrupt the current flow on
detection of any fault. According to the latest study conducted by Market
Research Future (MRFR), the global circuit breakers market is expected to
experience decent growth during the forecast period.
Industry Highlights
Circuit breakers are used in
industrial, commercial, and residential areas. It helps to protect the electric
appliances from over-current, overload, or short circuit. Advantage of circuit
breaker includes that it does not need any replacement like a fuse or other
safety devices. Global circuit breaker market is expected to witness
substantial growth during the forecast period owing to increasing
electrification, growing urban energy conservation program, increasing
industrialization, and shift towards de-centralized power distribution.
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.
Key Players
The key players of global Circuit
Breaker market are ABB (Switzerland), Schneider Electric (France), Siemens
(Germany), Mitsubishi (Japan), Toshiba (Japan), Powell (US), TE Connectivity (Switzerland),
CG Power (India), Tavrida Electric (Switzerland), Larsen & Toubro (India),
Fuji Electric (Japan), and others.
Circuit Breaker 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.
By
end-user, the market comprises
of residential, commercial, and industrial.
By
type, the market divides
into SF6, vacuum, and others.
Regional Industry 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.
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.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The
Study
4 Market Insights
Continued…..
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