According to the report published by IndustryARC titled
“Circuit Breaker Market: By Application(Automotive Transportation Equipment, Non-Automotive Transportation Equipment, Residential Building Construction, Electronics and Electrical Equipment, Non-Residential Construction, others), By Voltage Level(Low Voltage Circuit Breaker, Medium Voltage Circuit Breaker, High Voltage Circuit Breaker and others), by Type (SF6 Circuit breaker, Vacuum Circuit Breaker and others)By End User(Residential, Commercial, Industrial and Others) - Forecast (2019 - 2025)
,” the market is estimated to surpass $24.08672 billion by 2025
Browse 72 Market Tables, and 178 Figures spread through 147 Pages and go through an in-depth TOC on “
Circuit Breaker Market”
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As per a recent study conducted by IndustryARC, the global market size of the Circuit Breaker Market was estimated to be $15 billion in the 2018 and is expected to have a steady growth with a CAGR of 7% during the forecast period of 2019 to 2025. The growth in the Circuit breaker market is attributed to the increasing demand of electricity worldwide. The increasing deployment of the circuit breakers in the old grids to upgrade the efficiency and effectiveness of the circuit is a major driver of the circuit breaker market. The only threat posed on the circuit breaker market is the exclusive demand of the fuse market due to its cost advantage and few operational benefits.
Circuit breaker is the efficient mechanical devices which are incorporated in the electronic circuits or equipment to protect them from damage caused by excess current or short circuit. This technology serves the purpose of providing protection against any type of fire accidents in buildings by controlling the flow of current or voltage. They are used to break the flow of electric current in the circuit in case of any emergency. The low-voltage circuit breakers are mostly used in the low voltage air circuit current sensors. The increasing demand of the circuit breakers is attributed to its deployment in the electric circuits and electronic devices. This rise in deployment has impacted the market to a great extent.
Europe owned the largest market share of the Global Circuit Breaker Market with an estimated global demand share of about 35% in 2018. The steady development in the Circuit Breaker Market is mostly attributed to the increasing R&D interests and investments in developing the Circuit breakers. In Europe, Eaton Motor protective circuit is extremely efficient power distribution which is increasingly being installed in the healthcare sector. In 2017, Eton’s power management sales accounted for $20.4 billion, which distinctly depicts the demand of circuit breakers in the market. Europe is the largest producer of generator circuit breakers since 2015. Due to an increase in energy consumption in almost every European country, the demand for the circuit breakers increased significantly. In 2017, more than 75% of the power grids operators switched to vacuum switch gears due to which the vacuum circuit breaker market saw major growth. Such major developments in technology is enhancing the growth of the circuit breaker market.
The Major Players in this Market Include
- ABB Ltd. (Switzerland)
- Mitsubishi Electric Corporation (Japan)
- BEL Fuse Inc. (U.S.)
- Schneider Electric SE (France)
- Mersen S.A (France)
Circuit breaker providers have utilized mergers and acquisitions as well as product launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets.
The various end-user industries covered in the Circuit Breaker Market report include:
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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A. Surge Protection Device Market
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