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.
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.
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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