Circuit Breakers Market By Voltage (Low, Medium, High), By Insulation Type (Vacuum, Air, Gas, Oil), By Installation (Indoor, Outdoor), By End User (Residential, Commercial, Industrial, Utilities): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global circuit breaker market was valued at $9.4 billion in 2020, and is projected to reach $17.8 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
A circuit breaker is a programmed automatic electric switch, which is utilized to protect an electrical circuit from damage by excess current from an overload or short circuit. The basic function of circuit breaker is to stop the flow of current after a fault is detected. In contrast to a fuse that works only once, a circuit breaker can simply be replaced for continuing typical activity. The function of circuit breaker is to shut down the electric supply in case of excess current, overload, or short circuit. Circuit breakers play a significant role in electric power distribution and transmission in communication circuits, automobiles, telecommunication, computers, industrial machinery & equipment, consumer electronics, and other applications.
Factors such as growth in renewable power generation, rise in residential projects, increase in access to electricity in developing countries, rise construction & developmental activities, surge in industrialization, expansion of smart grid networks, and upsurge in demand for power across the globe, drive the growth of the circuit breakers market. However, increase in competition from the unorganized sector of the circuit breaker and stringent environmental & safety regulations for SF6 circuit breakers limit the growth of the market. Conversely, increase in HVDC transmission, presence of outdated power infrastructure, and increase in trend of smart cities are expected to provide lucrative opportunities for the growth of the global market.
The circuit breaker market is segmented on the basis of voltage, insulation type, installation, application, and region. Depending on voltage, the market is bifurcated into low, medium, and high. On the basis of insulation type, it is categorized into vacuum, air, gas, and oil. On the basis of installation, it is classified into indoor and outdoor. By end users, the market is segmented into residential, commercial, industrial, and utilities. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
A comprehensive analysis of the factors that drive and restrict the growth of the global circuit breaker market is provided.
Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
Estimations and forecast are based on factors impacting the global circuit breaker market growth, in terms of value.
Key market players are profiled to gain an understanding of the strategies adopted by them.
This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
Key Market Segments
By End User
Residential
Commercial
Industrial
Utilities
By Voltage
Low
Medium
High
By Insulation Type
Vacuum
Air
Gas
Oil
By Installation
Indoor
Outdoor
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
U.K.
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest Of Asia Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Alstom SA
Eaton Corporation
Furukawa Electric
Mitsubishi Electric Corporation
Powell Industries Inc.
Schneider Electric
Siemens AG
Toshiba Corp.
ABB, Ltd.
Kirloskar Electric Company Ltd
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