July 16,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Circuit Breaker Market.
Circuit Breaker Market is likely to witness an impressive CAGR of 7.5% during the forecast period. Increasing focus towards operational safety and growing measures to integrate reliable and sustainable electrical infrastructure is likely to drive the market growth of circuit breakers.
Circuit breaker is a switching device used to interrupt the abnormal or fault current. It is a mechanical device that disturbs the flow of high magnitude fault current along with performing the function of a switch. The market is segment as by voltage type into low {ACB, MCB, MCCB, and Others}, medium {ACB, GCB, VCB, and Others}, and high {ACB, GCB, VCB, and Others}; by rated voltage type into <500 V, 500 V to 1 kV, 1 to 15 kV, 15 to 50 kV, 50 to 70 kV, 70 to 145 kV, 145 to 300 kV, 300 to 500 kV, 550 to 800 kV, >800 kV; by rated current type into <500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 4500 A, and >4500 A; by installation type into indoor and outdoor; by application type into power distribution and power transmission; and by end-use industry type into residential, commercial, industrial, and utility.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the rated voltage type, the market is segmented as <500V, 500V to 1kV, 1 to 15kV, 15 to 50kV, 50 to 70kV, 70 to 145kV, 145 to 300kV, 300 to 550kV, 500 to 800kV, and >800kV. The <500V segment dominated the market in 2020 and is expected to maintain its position during the forecast period as well. Rural electrification initiatives in the developing economies are the major factor driving the growth of the <500V segment.
Based on the end-use industry type, the market is segmented as residential, industrial, commercial, and utility. The utility segment is projected to witness the fastest growth during the forecast period driven by stringent energy efficiency protocols, inclination towards deployment of smart grid and control networks, and expansion of primary & secondary distribution networks.
In terms of regions, Asia-Pacific is estimated to be the largest market driven by growing investment and infrastructure development in China, Japan, India, South Korea, ASEAN Countries, and Others. Expanding industrial sector, rapid urbanization, significant economic development in the region, and increased focus towards power distribution in remote areas are the major factors driving the growth of the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
- ABB
- Schneider Electric
- Eaton
- Mitsubishi
- Toshiba
- Siemens
- Hitachi
- Crompton Greaves
- Powell Industries
- Hubbell
- Fuji Electric
- Meidensha
- TE Connectivity
- BEL Fuse
- L&T
- Mersen S.A.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Circuit Breaker Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors