Press release
Circuit Breakers Market Notable industry participants include ABB, GE Alstom, Siemens, Mitsubishi Electric Corporation, BEL Fuse Inc., Eaton Corporation, Schneider Electric, Toshiba, Powell Industries, TE Connectivity and Mersen
Circuit Breakers Market
Growing demand for the packaged and modular substations across industrial and commercial sector will drive the circuit breakers market growth during the forecast period. In 2016, Qatar awarded contract worth USD 12.4 million to Siemens for integrated E-House substations supply for Hamad Port megaproject.
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Rising investments towards transmission grid infrastructure renovation by private participants and utilities will positively impact the circuit breakers market growth. In 2015 USD 315 billion investment was made by government of China towards the overhaul of power grid infrastructure by 2020. Rural electrification programs initiated by countries including South Africa, China, Nigeria and India will further drive the product demand.
LV circuit breakers market revenue was over USD 4 billion in 2015.Growing investment towards installation of low voltage substations across rural and remote areas will propel the global circuit breaker industry growth. Many countries in Africa have very low rural electrification rate. According to EIA, Cameroon has rural electrification rate of below 25%. In 2016, European Union announced investment of over USD 2 million for implementation of rural development project in Hauts-Plateaux department.
SF6 circuit breaker is set to witness growth of over 10%, owing to its efficient arc quenching properties and high dielectric strength. Other features of SF6 circuit breaker include immunity towards variable environmental conditions, chemical stability and low maintenance cost.
U.S. circuit breakers market share is predicted to expand over 7%. Deployment of HVDC transmission lines for long distance power distribution coupled with upgradation of T&D infrastructure will drive the industry growth. In 2017, transmission investments in the U.S. is expected to exceed USD 18 billion.
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For Europe, UK circuit breaker market in 2015 exceeded USD 190 million. Growing investments towards development of smart grid infrastructure will augment the industry growth. China circuit breaker market is predicted to expand over USD 2 billion by 2024. Government initiatives include Rural Electrification Program and Township Electrification Program which use technologies including wind power, photovoltaics and small hydro. Initiatives to provide renewable electricity to household consumers will positively impact the business landscape.
India circuit breakers market is set to witness growth over 8% by 2024. Programs including One Nation, One Price, One Grid, will boost the product demand. In 2015, Saudi Arabia revenue exceeded USD 140 million. Rising demand for packaged and modular substations for remote O&G drilling areas will drive the product demand. Brazil circuit breakers market revenue is expected to exceed USD 650 million by 2024. Integration of renewable energy sources with the national and state grid will further stimulate the industry landscape.
Key industry players include Powell Industries, GE Alstom, BEL Fuse, Mitsubishi Electric Corporation, Toshiba, Siemens, Eaton, Schneider Electric, Bharat Heavy Electricals, Larsen & Toubro Electrical & Automation, TE Connectivity and ABB.
Report Content
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Scope & assumptions
1.2 Data Sources
1.2.1 Primary
1.2.2 Secondary
Chapter 2 Executive Summary
2.1 Circuit Breakers industry 3600 synopsis, 2014 – 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Technology trends
2.1.4 Voltage level trends
2.1.5 End-use trends
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