Press release
Fuelled by Infrastructural Development, Demand for Circuit Breakers to Surge Exponentially in Brazil
Product innovation has emerged as the key strategy for enterprises to enjoy a stronghold in the Brazil circuit breakers market. These companies have been considerably investing in industry-leading technologies and research and development to emerge as the dominant market player. Many companies are also expanding their businesses across the country through mergers and acquisitions. GE Co. held a sizeable share of 16.3% in the market in 2014.
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The Brazil circuit breakers market exhibits a fairly consolidated vendor landscape. As per Transparency Market Research (TMR), the top five companies operating in the market comprising ABB Ltd, Siemens, GE Co., Schneider Electric SE, and WEG S.A. held over 59.4% of the market in 2014.
Product innovation has emerged as the key strategy for enterprises to enjoy a stronghold in the Brazil circuit breakers market. These companies have been considerably investing in industry-leading technologies and research and development to emerge as the dominant market player. Many companies are also expanding their businesses across the country through mergers and acquisitions. GE Co. held a sizeable share of 16.3% in the market in 2014.
Circuit Breakers Market in Brazil to Gain from Positive Investor Sentiment in Infrastructure Sector
Brazil has been exhibiting robust infrastructural development since the last few years. It also boasts a blooming construction industry. In order to pace up their development efforts, policymakers in Brazil have been proactively spending on various residential, public, and commercial construction projects. Besides this, implementation of favorable regulations has reduced complexities regarding project financing, which subsequently encouraged private players to venture in the country’s construction sector. Driven by these factors, TMR expects the demand for circuit breakers to rise in Brazil in response to the increasing spending on infrastructural development.
Alongside infrastructural development, demand for electricity is also projected to rise in Brazil. Economic growth and increase in population have thus emerged as key factors that are likely to fuel demand for electricity in the country. As per a TMR analyst, “Upgrades in existing network infrastructure and expansion of installed capacities will boost deployment of circuit breakers at different voltage levels to ensure uninterrupted power supply across the country. Hence, the demand for efficient electricity distribution will fuel the sales of circuit breakers in Brazil.”
Availability of Counterfeit Products Limits Sales of Circuit Breakers
On the flip side, rampant copying of patented products is limiting the sales of circuit breakers. Counterfeit switchgear is easily available in Brazil, which has a considerable negative impact on the sales opportunities for original product manufacturers. These counterfeit products are of poor quality and less reliable. Their presence in the market is a major challenge that original product manufacturers need to address in order to enjoy sustainable growth. Brazil’s vulnerability to economic slowdown also adversely influences the market’s trajectory.
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Demand for Smart Technologies to Boost Installation of Circuit Breakers across Brazil
Nevertheless, the country has been exhibiting rising demand for electric vehicles, energy derived from solar power, and smart meters. None of these technologies can function with quality circuit breakers that would protect them from overheating. Thus, TMR forecasts impressive growth for the circuit breakers market in the near future, as demand for the latest technologies rise in Brazil. Furthermore, the increasing adoption of smart grid technologies will also provide leading players with lucrative opportunities in the near future.
Based on application, TMR expects the power generation segment to exhibit the highest demand for circuit breakers in Brazil. It is expected to surge at 6.9% CAGR during the forecast period. The oil and gas industry is projected to emerge as the second-largest application segment in 2014. By arc quenching media, demand for air circuit breakers is expected to be the highest. The segment held over 54.6% of circuit breakers market in 2014.
The Brazil circuit breakers market stood at US$437.8 mn in 2014 and is expected to reach US$645.9 mn by the end of 2021. If these valuations hold true, the Brazil circuit breakers market will exhibit a positive CAGR of 6.3% from 2015 to 2021.
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