Low-Voltage Circuit
Breakers Market Analysis
The Low-Voltage
Circuit Breakers Market is expected to grow to USD 1,657.2 Mn by the
year 2023. Market Research Future (MRFR) forecasts that the market will exhibit
a compound annual growth rate (CAGR) of 4.54% between 2018 and 2023 to reach
the figure. Low-voltage circuit breakers are used for preventing voltage
fluctuations that damage electrical equipment. Voltage circuit breakers are
vital in situations of overload or interruptions in power flow.
The rising demand for new electrical distribution infrastructure is
likely to be a prime driver for the global low-voltage circuit breaker market.
The reliability and efficiency of modern grid systems is of paramount
importance, leading to a high need for security devices such as low-voltage
circuit breakers.
The growing demand for electricity and widespread grid connectivity in
developing regions is likely to be a major driver for the global low-voltage
circuit breakers market over the forecast period. Several key governments have
taken up long-term projects to provide electricity to all of their citizens,
resulting in a growing demand for electrical components and devices.
Low-Voltage Circuit Breakers Industry Segmental Analysis
The segmental analysis
of the market has been conducted based on application, type and region.
On the basis of
application, the market has been segmented into automatic circuit shutoff, energy
allocation and other.
On the basis of type,
the market has been segmented into air circuit breaker (ACB), miniature circuit
breaker (MCB) and molded-case circuit breaker (MCCB).
Global Low-Voltage Circuit Breakers Market: Regional Analysis
The market has been covered across
Europe, Asia Pacific (APAC), North America, Central and South America and the
Middle East & Africa (MEA). Asia Pacific has emerged as a highly attractive
market for low-voltage circuit breakers. Tremendous economic growth in India
and China remains the primary driver of the market in Asia. Rapid urbanization
is these countries has led to an increased consumption of electricity.
Moreover, use of electricity in urban areas in Asia is expected to growth
further in the forthcoming years. The growing urban population in the region is
creating attractive market opportunities. Efforts are taken to modernize
infrastructure and boost supply capacity in various APAC countries. In 2017,
APAC commands more than 44% share of the global low-voltage circuit. Europe and
North America are the other regions that make significant contribution to the
global low-voltage circuit breakers. Investments is electricity grid infrastructure
upgradation in North America and Europe is in part driving the demand for
low-voltage circuit breakers in these regions.
Global Low-Voltage Circuit Breakers Market: Competition
Analysis
ABB, Schneider Electric, Siemens AG,
Shanghai Liangxin Electrical Co. Ltd., HangShen Electric, Hyundai Electric and
Energy Systems Co. Ltd., Changshu Switchgear Mfg Co. ltd., Mitsubishi Electric
Corporation, Fuji Electric FA Components and Systems Co. Ltd., Hager Group,
Shanghai Electric Co. Ltd. (People’s Electric Appliance Factory), CHINT Group,
Delixi and Eaton are among the leading companies profiled in MRFR’s report.
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