Circuit Breaker Market to Increase at a Healthy CAGR of 6.9% From 2019 to 2026

The global circuit breaker market forecast will be $21.1 billion by 2026, increasing from $12.4 billion in 2018 at a CAGR of 6.9%.

In today's modern world, the circuit breaker is without a doubt an invaluable gadget and one of the most important safety instruments in your house. Absent circuit breakers (or alternate fuses), domestic power would be unwise owing to latent fire and other damage caused by basic electrical issues and gear failures. When there is too much electricity flowing through the electrical wiring in the building, these simple machines will cut off the power until someone can fix the problem.

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IOT circuit breaker is anticipated to drive the circuit breaker market growth; these breakers are also known as electronic device circuit breakers and they are of lower cost. The technical advantage of electronic breaker is their capability to protect critical load. Moreover, these circuit breakers are enormously used to protect DC lines. These key factors are projected to create lucrative opportunities for the growth of global circuit breaker market.

High-voltage circuit breaker market share is anticipated to grow at a CAGR 6.9% and it will register a revenue of $11.7 billion in 2026; this is mainly due to its major usage into utility applications. Rise in the need for high quality products, technical advancements of power system, major demand and large developments in the high voltage transmission systems are expected to drive the growth of high voltage circuit breaker.

Low voltage is the fastest moving segment and it will cross $6.3 billion during the forecasted period, increasing at a CAGR 7.2%. Upgradation of aging infrastructure for safe electrical distribution systems, expansion in urbanization & industrialization along with growing focus on renewable energy power are anticipated to boost the growth of global market.

Outdoor segment shall generate a revenue of $8.4 billion by the end of 2026, at a CAGR of 7.1% till 2026. This segment is the fastest growing segment since it provides space optimization, protection against extreme weather conditions, and lower cost maintenance. Indoor segment has the biggest share and it will generate a revenue of $12.8 billion by the end of 2026, at a CAGR of 6.8% till 2026.

Circuit breaker market size of commercial segment will see enormous growth owing to, massive growth in economic development and construction activities worldwide. In addition, increasing population attributed to growing demand for upgradation of the new power infrastructure is also expected to foster the growth of circuit breaker market. This segment will cross $6.6 billion by the end of 2026, rising at a CAGR of 7.2%.

Residential segment is expected to generate a revenue of $6.9 billion by the end of 2026, growing at a CAGR of 6.7%; this is mainly due to constant growth in construction of residential places coupled with increasing population and economic development activities worldwide emerged as necessity for upgradation of new power sector; these factors are projected to drive the growth of global market.

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North America Circuit Breaker market size will cross $5.6 billion in 2026, increasing at a CAGR of 7.6%. North America circuit breaker market is anticipated to increase at a fast rate owing to rising demand for distribution equipment and highly advanced transmission moreover, rising concern regarding short circuits because of power fluctuations.

Key Companies Profiled:
o Powell Industries.
o GENERAL ELECTRIC
o Hitachi Industrial
o Equipment Systems Co. Ltd.
o Siemens
o Eaton.
o CG Power and Industrial Solutions Limited
o Schneider Electric
o Toshiba Corporation.ABB
o Mitsubishi Electric Corporation

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