The global circuit breaker market is set to attain a value of USD 25.75 billion by 2026, displaying a CAGR of 6.97% during the forecast period. The main driving factor for this is the ever-increasing demand for electricity around the world. According to the International Energy Agency (IEA), in 2018, world electricity demand increased by 4%, double the amount of the overall energy demand. Among nations, China and the US accounted for 70% of the total global demand. Increasing demand and consumption of electricity will lead to a corresponding rise in the demand for circuit breakers, since they are essential components in any electrical system. Circuit breakers are basically switching devices, that is, their primary function is to disturb or interrupt the flow of fault or abnormal current. This protects the electrical system from any damage and prevents any potential accidents.
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Some of the prominent companies in the global circuit breaker market include:
Key Market Driver Enormous demand for electricity
Key Market Restraint High installation and maintenance cost
According to the Fortune Business Insights report, titled “Circuit Breaker Market Size, Share and Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By End User (Residential, Commercial, Industrial, and Utility), By Installation (Indoor and Outdoor), By Rated Voltage (Upto 500V, 500V-1kV, 1kV-15kV, 15kV-50kV, 50kV-70kV, 70kV-150kV, 150kV-300kV, 300kV-600kV, 600kV-800kV, and Above 800kV), and Regional Forecast, 2019-2026”, the global circuit breaker market value in 2018 was USD 15.09 billion. Additionally, the report also provides a comprehensive analysis of the various factors and trends that will shape the market during the forecast period.
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Segmentation
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Development of Innovative Products to Intensify Competition
Key players in the global circuit breaker market are increasingly focusing on creating and launching new and innovative products so as to gain a competitive edge. For example, in April 2019, Hannover-based ABB introduced its solid-state circuit breaker that is designed to enable electrical systems and grids to adopt renewable energy solutions and improve industrial battery storage capacities. Similarly, Schneider Electric upgraded its Masterpact circuit breakers product line with the Masterpact MTZ, which is specifically designed to empower smart devices to cope with the Internet of Things (IoT) tools and solutions.
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Table of Content
5. Global Circuit Breaker Market Analysis (USD billion), Insights and Forecast, 2015-2026
5.1. Key Findings/Summary
5.2.Market Analysis, Insights and Forecast By Voltage
5.2.1.Low Voltage
5.2.2.Medium Voltage
5.2.3.High Voltage
5.3.Market Analysis, Insights and Forecast By End User
5.3.1.Residential
5.3.2. Commercial
5.3.3.Industrial
5.3.4.Utility
5.4.Market Analysis, Insights and Forecast By Installation
5.4.1.Indoor
5.4.2.Outdoor
5.5.Market Analysis, Insights and Forecast By Rated Voltage
5.5.1.Upto 500V
5.5.2.500V- 1kV
5.5.3.1kV-15kV
5.5.4.15kV-50kV
5.5.5.50kV-70kV
5.5.6.70kV-150kV
5.5.7.150kV-300kV
5.5.8.300kV-600kV
5.5.9.600kV-800kV
5.5.10.Above 800kV
5.6.Market Analysis, Insights and Forecast By Region
5.6.1.North America
5.6.2.Latin America
5.6.3.Europe
5.6.4.Asia Pacific
5.6.5.Middle East and Africa
6. North America Circuit Breaker Market Analysis (USD billion), Insights and Forecast, 2015-2026
6.1.Key Findings/ Summary
6.2.Market Analysis, Insights and Forecast By Voltage
6.2.1.Low Voltage
6.2.2.Medium Voltage
6.2.3.High Voltage
6.3.Market Analysis, Insights and Forecast By End User
6.3.1.Residential
6.3.2.Commercial
6.3.3.Industrial
6.3.4.Utility
6.4.Market Analysis, Insights and Forecast By Installation
6.4.1.Indoor
6.4.2.Outdoor
6.5.Market Analysis, Insights and Forecast By Rated Voltage
6.5.1.Upto 500V
6.5.2.500V- 1kV
6.5.3.1kV-15kV
6.5.4.15kV-50kV
6.5.5.50kV-70kV
6.5.6.70kV-150kV
6.5.7.150kV-300kV
6.5.8.300kV-600kV
6.5.9.600kV-800kV
6.5.10.Above 800kV
6.6.Market Analysis, Insights and Forecast By Country
6.6.1.U.S.
6.6.2.Canada
7. Latin America Circuit Breaker Market Analysis (USD billion), Insights and Forecast, 2015-2026
7.1.Key Findings/ Summary
7.2.Market Analysis, Insights and Forecast By Voltage
7.2.1.Low Voltage
7.2.2. Medium Voltage
7.2.3. High Voltage
TOC Continued…..!
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