The global Circuit Breaker Market is set to attain a value of USD 25.75 billion by 2027, 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:
- CG Power and Industrial Solutions Limited
- Atom Power, Inc.
- Mitsubishi Electric Corporation
- Salzer Group
- Schneider Electric
- Larsen & Toubro Limited
- Kirloskar Electric Company
- Siemens AG
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 & 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, 2027”, 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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1. By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
2. By Installation Location
- Indoor Circuit Breakers
- Outdoor Circuit Breakers
3. By End User
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Market.
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
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Table of Content
5. Global Circuit Breaker Market Analysis (USD billion), Insights and Forecast, 2015-2027
5.1. Key Findings/Summary
5.2.Market Analysis, Insights and Forecast – By Voltage
5.3.Market Analysis, Insights and Forecast – By End User
5.4.Market Analysis, Insights and Forecast – By Installation
5.5.Market Analysis, Insights and Forecast – By Rated Voltage
5.6.Market Analysis, Insights and Forecast – By Region
5.6.5.Middle East & Africa
6. North America Circuit Breaker Market Analysis (USD billion), Insights and Forecast, 2015-2027
6.1.Key Findings/ Summary
6.2.Market Analysis, Insights and Forecast – By Voltage
6.3.Market Analysis, Insights and Forecast – By End User
6.4.Market Analysis, Insights and Forecast – By Installation
6.5.Market Analysis, Insights and Forecast – By Rated Voltage
6.6.Market Analysis, Insights and Forecast – By Country
7. Latin America Circuit Breaker Market Analysis (USD billion), Insights and Forecast, 2015-2027
7.1.Key Findings/ Summary
7.2.Market Analysis, Insights and Forecast – By Voltage
7.2.2. Medium Voltage
7.2.3. High Voltage
Key Industry Developments
- In May 2019, As per the agreement made with Eaton and Schneider Electric, OmniCable is authorized to sell circuit breakers to all electrical distributors in the United States w.e.f. June 2019.
- In February 2019, Schneider Electric, the world-renowned company in the digital transformation of energy management is recently launched the new generation Masterpact MTZ high power low voltage circuit breaker. It offers multiple benefits of enhanced performance, increased reliability and safety.
- In July 2018, Siemens got a contract of worth $17.5 million to deliver inverters, power and distribution transformers, gas-insulated medium voltage switchgear, circuit breakers, monitoring and controlling system for the largest solar power plant of a capacity 258MW in Southeast Asia.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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