Circuit Breaker Market Scenario
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 Circuit
Breaker Market Share 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.
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).
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. A major factor identified as the key driver of the
market is the positive regulatory shift towards the replacement & retrofit
of the conventional electrical equipment with advance units. With an aim to
curb down the curtailment rate in their Western Transmission Network,
regulators of the US have framed various plans in 2018 to invest close to USD
10 billion in developing and improving the domestic electric infrastructure.
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.
Industry Related News
Feb
16th, Schneider Electric announced the introduction of Masterpact MTZ, a one of
a kind next-gen high power low voltage circuit breakers, which was assembled in
the Indian market. The Masterpact MTZ circuit breaker will offer customers with
enhanced and superior performance with optimal security and reliability.
Feb
19th, Leviton announced the introduction of its next generation product Leviton
Load Center, which is an internet-connected system that transmits real-time
monitoring data to the users and customization notifications to their smart
devices. The Leviton Load Center will welcome the new generation of intelligent
and smart circuit breakers.
