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. A detailed analysis report of COVID-19
impact on Circuit Breaker Market Analysis is provided with the
report.
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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