Circuit Breakers Market to See Huge Growth by 2026 | ABB, Alstom, Eaton Corporation

The global circuit breakers market size was valued at $9.8 billion in 2018, and is projected to reach $14.8 billion by 2026, growing at a CAGR of 5.3% from 2019 to 2026.

Surge in demand for electricity, requirement for reliable power delivery, and increase in electricity access rate throughout the world drive the growth of the global circuit breakers market. Contrarily, safety regulations related the quality of circuit breaker product hinders the market growth up to certain extent. On the other hand, increase in production of renewable energy would offer new opportunities for the market growth.

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Leading Players:

Key players operating in the global circuit breaker market are ABB, Alstom, Eaton Corporation plc, Furukawa Group, Kirloskar Electric, Powell Industries, Mitsubishi Electric Corporation, Schneider Electirc, Siemens AG, Toshiba Corporation, and others.

Circuit breakers can operate automatically as well as manually for controlling and protecting an electrical power system. Circuit breakers helps to protect electric appliances from short out, over-burden or over-flow. Moreover, the circuit breakers are cost-effective and give reliable operation of the electric circuit. The requirement for circuit breakers has gone up impressively with expanding concern for safety in media transmission hardware, car, electrical, and electronic sectors.

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Key Market Segments:

By Voltage
• High
• Medium
• Low

By Installation
• Indoor
• Outdoor

By Application
• Residential
• Commercial
• Industrial
• Utility

Key Findings of the Study:

• Increasing efforts to increase the electricity access rate, replacement of fuses by circuit breakers, and increasing need for reliable power delivery in all application segments are the prominent growth drivers in this market
• Regulations on the use circuit breakers in a specific voltage is impacting the market both ways. One i.e. making mandatory use in residential applications and two i.e. offering scope to unorganized sector to produce price-sensitive products which are high in demand specifically in countries like India, China, South Africa, and Brazil.
• Emergence of concepts like “Smart City” and circuit breakers market growth in the generation of renewable energy projected to offer healthy growth opportunities during the forecast period
• Industrial and residential segments are emerging as an investment centric in nature
• The global circuit breakers market is fragmented in nature with the domination of the tier-1 market player. On the contrary, considering the growth of this market new players may penetrate this market in the next five years

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