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.
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.
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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.
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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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.
Industry
Related News
Feb 16th, Schneider Electric
announced the introduction of Masterpact MTZ, a one of a kind next-gen high
power low voltage circuit breakers, which was assembled in the Indian market.
The Masterpact MTZ circuit breaker will offer customers with enhanced and
superior performance with optimal security and reliability.
Feb 19th, Leviton announced the
introduction of its next generation product Leviton Load Center, which is an
internet-connected system that transmits real-time monitoring data to the users
and customization notifications to their smart devices. The Leviton Load Center
will welcome the new generation of intelligent and smart circuit breakers.
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