Circuit protection devices are used to protect the electrical equipment and the user in case of unexpected power fluctuations. These devices are installed to intentionally interrupt the electrical supply in the event of overcurrent, overvoltage, or overheating. Current and voltage fluctuations can reduce the product life of electrical and electronics equipment significantly, and the undue heat generated can cause fire and lead to human and property damage. The circuit protection devices are manufactured in compliance with safety and performance standards for electrical transmission and distribution networks and electrical equipment.
Technavio’s analysts forecast the global circuit protection market to grow at a CAGR of 7.1% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global circuit protection market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of haircare products to individual consumers and salons.
The market is divided into the following segments based on geography:
Technavio's report, Global Circuit Protection Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
High market fragmentation and intense competition.
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Increasing applications in smart devices.
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Technavio Announces the Publication of its Research Report – Global Circuit Protection Market 2017-2021
Technavio recognizes the following companies as the key players in the global circuit protection market: ABB, Eaton, Siemens, Mitsubishi Electric, and Alstom.
Other Prominent Vendors in the market are: Automation Systems Interconnect, AVX, Bel Fuse, Bentek, Bourns, Communications Electrical Equipment & Supply, E-T-A, G&W Electric, General Electric, Hitachi, Legrand, Littelfuse, Mersen, Pennsylvania Breaker, Powell Industries, S&C Electric Company, Schneider Electric, SIBA, TE Connectivity, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is circuit breakers replacing fuses market. Circuit breakers market is growing rapidly than the fuses market and is hampering the market share for fuses. Both circuit breakers and fuses are devices that are installed to intentionally interrupt the flow of electricity for protecting the electrical network and equipment from an electrical fault. However, their mechanisms are different. A fuse is made of a metal wire or filament that melts when overheated, quickly stopping the flow of electricity. On the other hand, circuit breakers have switches that are tripped when there is an unusual surge of electricity. A fuse needs to be replaced after every circuit overload, while circuit breakers can simply be reset when tripped. Though fuses are inexpensive and available at any hardware store, replacing them every time after a circuit overload becomes inconvenient, particularly for residential use. Circuit breakers are preferred over fuses in the residential sector due to their hassle free and long-term use. The maintenance of circuit breakers is also lower than fuses. Moreover, fuses are sensitive and susceptible to short circuit or fire, making them a less safe choice in some applications. Hence, circuit breakers portray higher demand than fuses.”
According to the report, one driver in market is continued expansion of construction industry. The continued expansion of the construction industry propels the demand for electricity in both residential and commercial spaces and indirectly supports the demand for circuit protection devices. The regulations in building construction mandate the installation of reliable and safe power management solutions. The power distribution infrastructure in both the residential and commercial construction segments requires the use of circuit protection devices to protect the network from electrical failures.
Further, the report states that one challenge in market is increasing gray market trading. The gray market trading is the process of unlawfully importing original products from counties having lower prices to countries that have a much higher price for the same product. Therefore, these traders are able to generate high profit margins by selling the products at a much lower cost as compared to the retail price. Additionally, at times authorized manufacturers overproduce goods without the knowledge of brand owners. These products are sold as genuine products, without offering any profit to the manufacturers. The violation of the contract by dealers and manufacturers results in price dumping and losses for the brand owner. The circuit protection market is witnessing a rise in gray market trading.