About Circuit Breaker, Fuse, and Relay
A circuit breaker is a multi-use automated switching device, used to protect electrical circuits from overload currents, and can be reset either manually or automatically. A fuse is a single-use circuit protection device that cuts the flow of current by melting the fuse wire when excess current is supplied. A relay is an electromechanical device used for controlling or switching high power circuits or devices using low power input.
Technavio’s analysts forecast the global circuit breaker, fuse, and relay market to grow at a CAGR of 6.78% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global circuit breaker, fuse, and relay market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Circuit Breaker, Fuse, and Relay Market 2017-2021
Technavio recognizes the following companies as the key players in the global circuit breaker, fuse, and relay market: ABB, GENERAL ELECTRIC, Siemens, Schneider Electric, and Eaton.
Other Prominent Vendors in the market are: Mitsubishi Electric, CAMSCO ELECTRIC, Honeywell International, Itron, LARSEN & TOUBRO, SCHURTER Holding, Xiamen Hongfa Electroacoustic, Littelfuse, Rockwell Automation, S&C Electric Company, NR Electric, Chint, Legrand, and Bel Fuse.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Replacement of fuses with circuit breakers. An increasing number of end-users prefer circuit breakers over fuses. Although fuses are much cheaper than circuit breakers, their utility is decreasing in some applications. Circuit breakers do not have to be replaced every time a current overload occurs. They can easily be reset using the switch built into them, or they can also automatically reset once the circuit cools down. One of the major areas where fuses are being replaced are residential buildings, where the owner does not have to worry about finding the correct fuse to replace or identify the fuse rating. Circuit breakers that have been overloaded can easily be identified using the flipped switch.”
According to the report, one of the major drivers for this market is Increasing global power demand. Circuit breakers, fuses, and relays are an essential part of power distribution and transmission networks worldwide. The growing demand for power by end-users across all sectors will require the expansion of these networks, which will spur the demand for power protection equipment. The main factors contributing to the rise in power demand are the increase in global population and urbanization, which in turn lead to the rapid growth in industrialization. These factors result in an exponential increase in the demand for electricity.
Further, the report states that one of the major factors hindering the growth of this market is Global economic uncertainty. The uncertainty in global economy, mainly propagated by geopolitical changes in the US trade relations and the UK's exit from the European Union (EU), has led to reduced profitability for the circuit breaker, fuse, and relay manufacturers and distributors. In addition, fluctuations in global currencies have severely affected the income of most equipment vendors.
ABB, GENERAL ELECTRIC, Siemens, Schneider Electric, Eaton, Mitsubishi Electric, CAMSCO ELECTRIC, Honeywell International, Itron, LARSEN & TOUBRO, SCHURTER Holding, Xiamen Hongfa Electroacoustic, Littelfuse, Rockwell Automation, S&C Electric Company, NR Electric, Chint, Legrand, and Bel Fuse.
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