The global circuit breaker market reached a value of US$ 7 billion in 2018. The market value is further expected to reach US$ 10 billion by 2024, exhibiting a CAGR of 4.5% during 2019-2024. An electronic device functions through a path which has two or more points to carry the electrical current. This path is called a circuit and the device that interrupts this flow of electrical current is called the circuit breaker. These circuit breakers are used for preventing the fluctuations in the flow of current and protecting other devices that are attached to the circuit. Circuit breakers help in controlling, regulating and mastering electric power efficiently.
Global Circuit Breaker Market Drivers:
- In recent years, the demand for electricity has been increasing day by day. Circuit breakers are beneficial in the transmission and distribution of power supply. Moreover, owing to an emerging need for saving electricity, governments across the globe are introducing numerous initiatives to establish efficient and smart power grids. These factors have contributed towards the growth of the circuit breaker market.
- Safety of kitchen appliances, industrial tools and machinery and IT products have become a matter of chief concern that is playing a major role in the rising demand of circuit breakers. By using circuit breakers, the whole power mechanism can be made safe and protected from the frequent power fluctuations and short circuits.
- An important factor that is responsible for the constant growth in the circuit breaker market is the increasing trend of urbanisation and industrialisation in developing countries. This has caused an improvement in the electricity infrastructure as well as an increase in the power supply to rural areas.
- Low maintenance cost and increasing usage of these devices in locomotive industries are some of the other advantages that are positively influencing the growth of global circuit breaker market.
- Based on the product type, the market has been segmented as indoor circuit breakers and outdoor circuit breakers. Currently, outdoor circuit breakers dominates the market, holding the largest share.
- Based on the voltage, the market has been segmented into low voltage, medium voltage and high voltage. Currently, low voltage dominates the market, holding the largest share.
- Based on the technology, the market has been segmented as air, vacuum, oil and SF6.
- On the basis of end-use, the market has been segmented as transmission and distribution, renewable, power generation, railways and others. Currently, transmission and distribution dominates the market, holding the largest share.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being ABB, Alstom, Eaton Corporation, GE, Mitsubishi Electric Power Products, Schneider Electric, Siemens, Camsco Electric, G&W Electric, Kirloskar Electric, L&T, Powell Industries, Schurter Holding, Sensata Technologies and Toshiba.
- This report provides a deep insight into the global circuit breaker market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the circuit breaker market in any manner.
Key Questions Answered in This Report:
- How has the global circuit breaker market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global circuit breaker industry?
- What are the major end-use segments in the global circuit breaker industry?
- What are the key technologies in the global circuit breaker industry?
- What are the key voltage levels in the global circuit breaker industry?
- What are the key product types in the global circuit breaker industry?
- What are the price trends of circuit breakers?
- What are the various stages in the value chain of the global circuit breaker market?
- What are the key driving factors and challenges in the global circuit breaker market?
- What is the structure of the global circuit breaker market and who are the key players?
- What is the degree of competition in the global circuit breaker market?
- How are circuit breakers manufactured?