Global Circuit Breaker Market Overview
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. Circuit
Breaker is defined as an automatic electric switch that can be used to stop the
flow of current in an electric circuit to protect the electrical system from
damage.
The
basic driver for the global circuit breaker market growth is the growing use of
circuit breakers in commercial, industrial, and residential areas. Circuit
breakers protect the electric appliances from overload, over-current, or short
circuit. The biggest advantage of a circuit breaker is that it does not require
any replacement like a fuse or other safety devices.
Circuit
breakers are cost effective and provide reliable operation of the electric
circuit. Other factors resulting in
market growth include increasing access to electricity in developing countries,
government-sponsored initiatives to develop smart cities all over the world,
and growing investment in the power sector.
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.
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).
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
regional segmentation of the global circuit breaker market can segment the
market into the regional markets known as Asia Pacific, Europe, North America,
South America, and the Middle East & Africa (MEA).
The
Asia Pacific region holds the largest market share due to increasing grid
investments in this region, especially in developing countries like China and
India. Another reason for market growth in this region involves various plans
for electrification in remote areas in countries like Indonesia, the Philippines,
and Vietnam. Other factors enabling the market growth in this region are
upcoming smart city projects by governments and upgrades for aging power
infrastructure. Many key market players are based in the Asia Pacific region.
North
America can be an important (due to massive revenue) but stagnant market
because due to technological advancement, the infrastructure is already
available here, in developed countries like USA and Canada. As Mexico is not
technologically as advanced as the USA and Canada, there can be scope for
market growth here if new investments are made in this country.
In
Europe, the market can grow due to the reasons that are same as in North
America. The urgent country-specific markets in this region are France,
Germany, Russia, and the UK, followed by the remaining countries of Europe.
Some key market players are based in Europe too.
South
America is a small regional market because the availability of advanced
technology is limited in this region. Argentina and Brazil are two important economies
that can rise as lucrative markets in the future. In the MEA region, the market
is small due to developing countries, lack of education, lack of
infrastructure, lack of power generation facilities, lack of skilled
professionals, lack of awareness, and lack of technological advancement.
Browse Complete Research Report @ https://www.marketresearchfuture.com/reports/circuit-breaker-market-921
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