What is Circuit Breakers Market?
A circuit breaker is an absolutely essential switching device that interrupts the abnormal or fault current. It is a mechanical device which disturbs the flow of high magnitude or fault current and in additions performs the function of a switch. It is mainly designed for closing or opening of an electrical circuit, thus protects the electrical system from damage. The global circuit breaker market is expected to witness a significant growth during the forecast period owing to increasing concern for safety in electronic, electrical, automotive, and telecommunication equipment and the expansion and advancement of the transmission network
The market study is being classified by Type (Low Voltage Circuit Breaker (LVCB), High Voltage Circuit Breaker (HVCB) and Medium Voltage Circuit Breaker (MVCB)), by Application (Power Distribution and Power Transmission) and major geographies with country level break-up.
ABB Ltd (Switzerland), Siemens AG (Germany), General Electric (United States), Toshiba (Japan), Mitsubishi Electric (Japan), Schneider Electric SA (France), Eaton Corporation (Ireland), Alstom (France), E-T-A Elektrotechnische Apparate Gmbh (Germany), Powell Industries Inc. (United States) and TE Connectivity (Switzerland) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are G&W Electric Company (United States), Mersen (France), S&C Electric Company (United States) and Littelfuse Inc. (United States).
Research Analyst at AMA predicts that United States and French Manufacturers will contribute to the maximum growth of Global Circuit Breakers market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Circuit Breakers market by Type, Application and Region. On the basis of Type, Low Voltage Circuit Breaker (LVCB) are dominating the market in the year 2019 where as High Voltage Circuit Breaker (HVCB) stood as second largest market share.
On the basis of application, Power Distribution segment is dominating the market in the year 2019 where as Power Transmission segment stood as second largest market.
On the basis of geography, the market of Circuit Breakers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising growth of construction & developmental activities
- Increasing access to electricity in developing countries
- Rising concern for safety in electronic, electrical, automotive, and telecommunication equipment
- The expansion and advancement of the transmission network
- Stringent environmental & safety regulations for safety circuit breakers
- Increasing competition from the messy sector of the circuit breaker market
- Rising demand from upcoming smart cities
- Aging power infrastructure
- Increasing raw material prices
Market Leaders and some development strategies
On 31 Jan, 2019, Eaton Agrees to Acquire Controlling Interest in Ulusoy Elektrik, Expanding IEC Offerings in EMEA and On 2 July, 2018, ABB announced it has completed its acquisition of GE Industrial Solutions (GEIS)
Key Target AudienceManufacturers of circuit breakers, Suppliers of circuit breakers part, Wholesalers, distributers and retailers of circuit breakers, Electronic industry, Governmental bodies and Research firm
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