Circuit Breakers Market 2019 | Top Players are ABB, Schneider Electric, Eaton Corporation, Mitsubishi Corporation, Toshiba, Siemens, Hitachi, Crompton Greaves

The increasing importance imparted to effective electricity distribution has been a major factor driving circuit breaker market size. That is to say, presently, if electricity supply experiences a letdown even for a day, the functioning of numerous commercial and industrial establishments comes to a standstill. The rising occurrence of workplace accidents at the power generation facilities and commercial industries due to the failure of electricity distribution systems has also raised importance for the use of circuit breakers.

In this regard, the organizations like the Occupational Safety and Health Administration (OSHA) have also been deploying strict regulatory norms to improve the safety of employees at the workplace. In order to comply with a stringent regulatory scenario, most of the companies have heavily deployed circuit breakers that has impacted the product demand.

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Taking into account the surging demand for circuit breakers from several commercial and industrial end-users, the players in the circuit breaker market have been focusing on the development of circuit breaking devices which are suitable for particular applications. For instance, recently, ABB has developed circuit breaking devices that can be suitable for all voltages and applications with a rated current between 160 A to 1600 A. It also integrates the features like wireless connection that helps simplify the commissioning and installation of devices.

Another circuit breaker industry contender, Schneider Electric has also invented a newer version of circuit breakers which allow for smartphone connectivity. Through the smartphone connectivity feature, the company can carry out maintenance work rather efficiently. As the world is moving toward the large-scale adoption of digitalized, electric, decarbonized, connected, and decentralized facilities, the advent of such smart products is becoming more popular.
Circuit Breakers Market, Growth drivers

• North America, Europe
o Expansion of smart grid networks
o Refurbishment & retrofit of existing grid infrastructure
• Asia Pacific
o Rising peak load demand
o Expansion of micro-grid networks
o Grid stability & security of supply concerns
• Middle East, Africa and Latin America
o Increasing electricity demand
o Integration of a sustainable energy infrastructure

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The product demand from heavy industrial sectors like mining and construction have also imparted a considerable influence on the industry trends. In the mining industry, circuit breakers have been used in an environment where combustible gases are present. Circuit breakers are also used in the underground mining equipment to maintain safety while feeding electric power. The primary use of circuit breakers in the mining equipment for offering economic and safer load connections between an electric source and underground mining equipment is poised to augment the market size over the years ahead.

In addition to the development of next-generation products, Schneider has been incorporating new standards in air circuit breakers to improve the product’s capability to withstand short-circuits, overloads, and installation faults. Armed with a consistently developing product portfolio, companies have been striving to gain an edge in circuit breaker market.

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The innovation brought about in product development and the numerous R&D activities of electronic companies will have a remarkable impact on the future business trends in the circuit breaker market. In order to strengthen the market position in the strict regulatory scenario, companies have been setting newer standards to meet consumers’ demand. The emergence of new technologies will further generate lucrative opportunities for the industry contenders. For the record, by the end of 2024, circuit breaker market will surpass a revenue collection of USD 21 billion.

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