Circuit Breaker Market to witness substantial growth owing to increasing electrification, growing urban energy conservation program, increasing industrialization, and shift towards de-centralized power distribution. global Circuit Breaker market is expected to grow at 4.90% CAGR during 2016 to 2023.
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Circuit breakers are pre-set values in percentage terms. These are automatically functioning electrical switches, which are designed to secure electrical networks from being damaged by the excess current from overload or even short circuit. The primary and the basic functioning of the circuit breaker is to interrupt the current flow on detection of any fault. According to the latest study conducted by Market Research Future (MRFR), the global circuit breakers market is expected to experience decent growth during the forecast period.
The market is expected to be driven due to operational safety and the expanding measures undertaken to integrate a dependable and sustainable electrical infrastructure. As developing regions across Asian and African nations witness frequent power lags as well as network failures, the regions hold massive potential in the deployment of effective electric products. The industry dynamics can also be positively influenced by the increasing measures to prevent fire hazards, faults in electrical supply, and relevant operation dereliction.
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Market Segmentation
The global circuit breakers market segmentation is divided in terms of voltage, type, and end users.
By voltage, the market includes high voltage, low voltage, and medium voltage segments
By end-user, the market comprises of residential, commercial, and industrial.
By type, the market divides into SF6, vacuum, and others.
Regional Analysis
The geographical segmentation of the global circuit breakers market covers 5 key regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
The North American market is the leading region in the global circuit breaker market, primarily due to the fast-paced expansion in the production base over the years. The market contribution of the North American region can be attributed significantly to the US. The US region holds a major hand in the global market and is projected to continue its growth trajectory in the forthcoming years as well.
The European region closely follows North America to stand tall as the second-largest global circuit breakers market. The Asia Pacific market is projected to experience growth at the fastest pace during the forecast period. Herein, developing economies like China, Indonesia, and India pose favorable growth potential as these countries continue to expand their current power generation capacities and the supply infrastructure to match up to the rising electricity demand.
Competitive Landscape
The global circuit breakers market holds a number of key and prominent players, including STAHL (Netherlands), Honeywell International Inc. (US), ABB Group (Switzerland), Holley Metering Ltd. (China), Siemens (Germany), General Electric (US), Schurter Electronics (Switzerland), and Sensus (US).
Industry Related News
Feb 16th, Schneider Electric announced the introduction of Masterpact MTZ, a one of a kind next-gen high power low voltage circuit breaker, which was assembled in the Indian market. The Masterpact MTZ circuit breaker will offer customers with enhanced and superior performance with optimal security and reliability.
Feb 19th, Leviton announced the introduction of its next generation product Leviton Load Center, which is an internet-connected system that transmits real-time monitoring data to the users and customization notifications to their smart devices. The Leviton Load Center will welcome the new generation of intelligent and smart circuit breakers.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
Continue…
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
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Source: MarketersMedia
Release ID: 509393
