Global circuit breaker market
Global circuit breaker market was valued US$ X7.XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at CAGR of 5.XX% during forecast period of 2020 to 2027.
Growing utilization of electricity, increasing construction and developmental activities, and the rising number of renewable power generation projects have created the huge demand for circuit breaker across the globe. A circuit breaker is an automatically operated electrical switch intended to safeguard an electrical circuit from damage caused by excess current from an overload or short circuit. Its basic function is to interrupt current flow as soon as a fault is sensed. Consistently growing construction of industrial, commercial & residential places along with rising population and economic development activities across the globe emerged as need for up gradation and creation of the new power infrastructure.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
With rising population, the demand for construction and developmental activities has also risen in the emerging economies of Asia Pacific, the Middle East and Africa. Whereas construction market in China is the largest market across globe and the supportive rules & regulations from the government of China offers fair opportunities for construction and development activities in the country. One such scheme from Chinese government is ‘One Belt, One Road' initiative which provides lucrative growth opportunities to construction sector ultimately boosting the demand for circuit breakers. In addition, China is planning to invest US$ 53X.XX billion in railway construction, which will contribute in the growth of the circuit breaker market.
Middle East will also contribute at large in the forecast period owing to the upcoming major event such as the World Expo 2020 in Dubai, UAE as well as the biggest planned event is FIFA World Cup 2022 in Qatar, for which huge construction activities going on for hotels, new restaurants, malls, tourists visiting places and entire city infrastructure development in the region. The increasing construction and developmental activities in the emerging economies of Asia Pacific, and the Middle East & Africa will require more investments in transmission and distribution infrastructure development, consequently generating huge demand for circuit breakers.
Upcoming smart cities as an opportunity whereas Cyber security threats are challenge:
In the development of a smart city, the integration of Information & Communication Technology (ICT) and the Internet of Things (IoT) solutions to manage the several assets of a city. Some aspects of the smart city concept comprise increased energy efficiency, uninterrupted power supply, smart web adoption, high network coverage, proper water management, strong transport system, proper healthcare and education facilities and much more related with electricity, telecommunication and overall city infrastructure. Smart or advance devices involves networked energy management that offer the remote access of the instruments in buildings. Such remote monitoring of devices have created high risk of cybercrimes.
Data theft or security breach can be done by bypassing securities on remote access, which can lead to power cut. These power failures are the result of the settings in a relay or a circuit breaker, which determines the response of the device. The multiple challenges are faced by modernized circuit breakers which may also create threat to the economy of the nation. Incorrect settings may have serious effects on the power system operation. This can be avoided by emerging with dedicated secure networks for monitoring and controlling the instruments. Developing such a network and assuring control on elements creates a challenge as well as provide opportunities for industry players to develop a secure and safe solution for data acquisition and monitoring along with the advanced devices.
The Global circuit breaker market dynamics are thoroughly studied and explained in the report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges in detail at global and regional level for the Global circuit breaker market.
Global circuit breaker market is studied by Various Segments:
The analysts at Maximize Market Research have done an extensive research for the Global circuit breaker market and provides the report with detail study of the market by various segments and by region.
The renewable end-user segment is expected to grow at the highest CAGR of XX.XX% during the forecast period. Owing to the globally increasing investments in renewable energy sector and the growing need for access to electricity are the major contributors in the growth of the renewable segment of the circuit breaker market.
The outdoor circuit breaker segment held the largest market share in 2019 and is expected to maintain the trend in market during the forecast period as they provide low maintenance, space optimization and security in unfavorable environmental conditions.
Asia Pacific to account for the largest market size in 2019 and is projected to grow at the highest CAGR of XX.XX%, during the forecast period. In Asia Pacific, China dominates the largest share of the circuit breaker market in 2019. In addition, Government of China planned to supply 20% of power from non-fossil sources by 2030, which gives lucrative growth opportunities for the circuit breaker market. All these factors are expected to boost the growth of the circuit breaker market in Asia Pacific. Growing application from various end-user industries such as automotive industry, construction industry, consumer electronics and power generation industry are also contributing in the growth of Asia Pacific and Middle East & Africa. The circuit breaker market in North America is mainly driven by the increasing demand for advanced transmission and distribution equipment. Europe is expected to reach US$ XX.XX Bn by the forecast period with CAGR of XX.XX% due to the increasing concern regarding short circuits and damage due to power fluctuations.
Global circuit breaker market by Voltage
• High Voltage
• Medium Voltage
Global circuit breaker market by Type
• Indoor Circuit breaker
• Outdoor Circuit breaker
Global circuit breaker market by End User
• Transmission & Distribution Utilities
• Power Generation
• Renewables
• Railways
Global circuit breaker market by Region
• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America
Global circuit breaker market Company Profiles:
The major players operating in the Global circuit breaker market, analyzed in the report are:
Key Market Players
• ABB,
• Siemens,
• Eaton,
• Mitsubishi,
• Toshiba,
• Fuji Electric,
• TE connectivity,
• L&T,
• Powell,
• Tavrida
Among several major players in the industry, ABB (Switzerland) is one of the significant power and automation technology company that operates through 4 segments, namely, power grids, electrification products, process automation, and discrete automation & motion. ABB offers a wide range of products, services, systems and medium & low voltage circuit breakers under its electrification products division.
Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Global circuit breaker market is covered in the report for all the major & small players in the industry.
The report covers the market leaders and followers in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans. For an instance, recently, ABB has acquired GE’s industrial solutions segment for US$ 2X.6X Bn. GE manufactures circuit breakers under the industrial solutions segment. The acquisition helped ABB build up its electrification products segment and boost operations in the North American market.
Objective of the Report:
The objective of the report is to present a comprehensive analysis of Global circuit breaker market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global circuit breaker market dynamics, structure by analyzing the market segments and project the Global circuit breaker market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global circuit breaker market make the report investor’s guide.
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