The global circuit breaker market size was valued at US$ 13.2 Bn in 2018 and expected to reach around US$ 17.60 bn by 2026, growing at a CAGR of 4.2% during the forecast period.
An electronic device functions via a direction that has two or more points to carry the electrical current. This path is known as a circuit and the device that interrupts this flow of electrical current is known as the circuit breaker. These circuit breakers are used for preventing the fluctuations in the flow of current and defensive other gadgets that can be attached to the circuit. Circuit break-ers assist in controlling, regulating and getting to know electric strength efficiently.
Increase in demand and supply of electricity, especially within the growing countries inclusive of India and China has driven the circuit breaker. Moreover, many developing countries are modernizing the outdated energy grids along with the developing technological improvements in the power zone is further predicted to propel the market. Favorable policies also are encouraging the rise in spending in residential, public, and commercial construction gas so as to notably boost sales of circuit breakers throughout the world.
The increase of the circuit breakers is usually driven by way of the increasing investments in substation automation, modernization of electric grids. This might work on beautifying protection by using decreasing power losses caused commonly via the negative operational performance of traditional equipment. This could, in turn, create a new revenue wallet for the circuit breaker market for the duration of the forecast period.
The requirement for high reliability and secure operation of the sub-station equipment is predicted to act as a primary motive force for the circuit breaker market. Circuit breakers regularly operate within the hardest climates and provide purposeful reliability in every environment. The upsurge in investment toward refurbishment and development of transmission grid infrastructure by means of utilities and personal entities will positively affect the global circuit breakers market sales during the forecast period.
By technology type, vacuum circuit breaker segment dominated the circuit breakers market
Based on technology, the market has been segmented into SF6, vacuum and others. Vacuum circuit breaker segment is dominating the global circuit breakers market in 2018. The boom can be attributed to the growing demand across numerous medium and high voltage substation applications. In addition to this, it is the stringent rules related to the leakage of toxic greenhouse gas emission from other technologies that will definitely influence the overall industry growth.
By end use, power distribution gas segment dominated the circuit breakers market
Circuit breakers can be additionally segmented based on end-use, in which the power distribution gas segment held highest market share that is driven by increasing investment towards the development of latest substations commonly in rural regions that is influencing the demand throughout the globe.
Based on installation, the outdoor is expected to dominate during the forecast period
Based on the installation, majority of the circuit breakers established are outdoor circuit breaker and held the largest market size in 2018 and is projected to dominate the market during the forecast period. The circuit breakers are utilized in switch gear assembly, which is majorly used exterior for utility-scale applications and they offer space optimization, low maintenance, and protection against severe environmental conditions. Few commercial machinery and gadget require outdoors circuit breaker.
The market research study on “Circuit Break Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global circuit breaker market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global circuit breaker market, its technology type, installation type, voltage type, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global circuit breaker market size and volume, and segment markets by technology type, installation type, voltage type, and geography along with the information on companies operating in the market. The circuit breaker market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America held the highest market share holding greater than in 2018. The market boom may be attributed to the federal government initiatives to enhance the safety and reliability of transmission and transmission network. The modernization and automation of current industries in these regions are anticipated to give improve to marketplace. Growth of infrastructure is extremely rapid and helped the market to grow in Europe and North America.
Asia Pacific is anticipated to be the biggest marketplace for circuit breaker in 2018 and is projected to develop at the highest CAGR, for the duration of the forecast period. China accounted for the most important share of the circuit breaker market in the Asia Pacific region. Moreover, the government of China deliberate to invest in electrification and ambitions to deliver 20% of electricity from non-fossil sources, which shows a positive boom for the circuit breaker market. All these factors are anticipated to force the boom of the circuit breaker market in Asia Pacific.
The players profiled in the report include GE, Salzer Group, Atom Power, Inc., Schneider Electric, Larsen and Toubro Limited, Kiloskar Electric Company, Siemens AG, ABB, CG Power and Industrial Solution Limited and Mitsubishi Electric Corporation. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market By Technology
Market By Voltage
Market By Installation
Market By End Use
Market By Geography
Middle East & Africa
The circuit breakers are of the three types names Standard, GFCI and AFCI.
circuit breakers are used for preventing the fluctuations in the flow of current and defensive other gadgets that can be attached to the circuit.
Increasing investments in substation automation, modernization of electric grids are main driver of the circuit breaker market.
According to Acumen Research and Consulting, the circuit breaker market value is anticipated to be worth around US$ 17.60 billion in 2026.
The circuit breaker market is anticipated to grow over 4.2% CAGR during the forecast period 2019 to 2026.
The global circuit breaker market is segmented into technology type, installation type, voltage type, and major geographic regions.
North America held maximum share in 2018 for circuit breaker market.