Circuit Protection Market by Type (Overcurrent Protection, Overvoltage Protection, ESD Protection), Device (Circuit Breakers, Fuses, ESD Protection Devices, Surge Protection Devices), Industry, Geography - Global Forecast to 2022
“Circuit protection market is expected to grow at a CAGR of 5.92% between 2016 and 2022”
The overall circuit protection market was valued at USD 35.85 billion in 2015 and is expected to reach USD 53.56 billion by 2022, at a CAGR of 5.92% between 2016 and 2022. The rising consumption of electricity due to the increased use of electronics is a major driver for the circuit protection market. In addition, the growth in the automotive electronics and Internet of Things (IoT) market are also driving the growth of the circuit protection market. However, the rising prices of raw materials used for manufacturing circuit protection devices are restraining the growth of the market.
“Overcurrent protection holds the largest share of the circuit protection market”
Overcurrent is the most commonly occurring fault in the machinery in various industries such as construction, electronics and electrical equipment, and automotive and transportation, among others. All of these industries require devices for protection against overcurrent. This factor is driving the growth of the market for overcurrent protection.
“Market for ESD protection is expected to grow at the highest rate between 2016 and 2022”
The new generations of portable devices such as cell phones, MP3 players, and digital cameras are increasingly sensitive to damages from ESD voltages as newer IC technologies have smaller geometries and lower working voltages. With the increasing adoption of these portable devices, the demand for ESD protection is also growing.
“Circuit protection market in APAC is expected to grow at the highest rate during the forecast period”
The growing inclination toward smart building infrastructure in both developed and developing economies, such as Japan, South Korea, and China, in this region; the presence of a huge customer base; and the rapid technological advancements in the smart home market are some of the factors driving the growth of the circuit protection market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profile of primary participants has been given below.
• By Company Type: Tier 1 – 55 %, Tier 2 – 30%, and Tier 3 – 15%
• By Designation: C-Level Executives – 55%, Manager Level – 35%, and Others (Sales, Marketing, and Product Managers) – 10%
• By Region: North America – 43%, Europe – 29%, APAC – 14%, and RoW – 14%
The major players in the circuit protection market are ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Corp. Plc (Ireland), Schneider Electric SE (France), General Electric Company (U.S.), ON Semiconductor Corp. (U.S.), Mitsubishi Electric Corporation (Japan), NXP Semiconductors N.V. (Netherlands), Rockwell Automation Inc. (U.S.), Texas Instruments Inc. (U.S.), Bel Fuse Inc. (U.S.), and Larsen & Toubro Ltd. (India).
The circuit protection market has been segmented on the basis of type, device, industry, and geography. The market, based on type, has been segmented into overcurrent protection, ESD protection, and overvoltage protection. The market, based on device, has been segmented into circuit breakers, fuses, ESD protection devices, and surge protection devices. On the basis of industry, the circuit protection market has been segmented into construction, automotive and transportation, electronics and electrical equipment, industrial, energy, and others. The market, on the basis of geography, has been segmented into North America, Europe, APAC, and RoW.
Reasons to buy the report:
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the circuit protection market comprehensively and provides the closest approximations of the size of the overall market and its subsegments for various applications and across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key market drivers, restraints, challenges, and opportunities.