The
global 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
global low-voltage circuit breakers market is expected to be driven by the
rising demand for electricity worldwide. Development of new grid infrastructure
in emerging economies is also providing tailwinds to the market. Policy makers
in developing countries are increasing their efforts towards making electricity
supply robust and efficient by improving infrastructure. As a result, there is
a sharp rise in demand for electrical devices, components and equipment.
Growth
electricity grids and development of new electricity supply infrastructure has
propelled the market forwards. In addition, increased global consumption of
electricity resulted in development of electricity generation grid. Use of
safer techniques coupled with the advances in grid systems is partly driving
the adoption of low-voltage circuit breakers. Low-voltage circuit breakers have
become a must-have security equipment in modern electricity infrastructure.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/6927
Global Low-Voltage Circuit Breakers Industry
Segmental Analysis
The
Low-Voltage Circuit Breakers Market Research 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. Of these, the automatic circuit shutoff
segment accounts for a significant share of the market in terms of value. It is
projected that the segment will reach a valuation of USD 993 Mn by the end of
the forecast period. Over the years, commercial and residential application of
automatic circuit shutoff has increased significantly.
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).
The MCCB segment is expected to retain its leading position over the forecast
period. In 2017, the MCCB segment commanded more than 50% share of the market in
terms of value. During the forecast period, the segment is expected to exhibit
a CAGR of 4.92% and reach a market valuation of nearly USD 903.5 Mn.
Low-Voltage Circuit Breakers Regional Industry
Analysis
The
Low-Voltage Circuit Breakers 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.
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.
Browse Full Research Report at: https://www.marketresearchfuture.com/reports/low-voltage-circuit-breakers-market-6927
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to
provide the optimum quality market research and intelligence services to our
clients. Our market research studies by Components, Application, Logistics and
market players for global, regional, and country level market segments, enable
our clients to see more, know more, and do more, which help to answer all their
most important questions.
No comments:
Post a Comment