Circuit Breaker Market 2021-2026: Size, Price, Growth, Share, Outlook, and Forecast

According to the latest report by IMARC Group, titled “Circuit Breaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global circuit breaker market reached a value of US$ 7.91 Billion in 2020. Looking forward, IMARC Group expects the global circuit breaker market to exhibit moderate growth during 2021-2026. Circuit breakers are automatic safety devices that are meticulously crafted to regulate the flow of electric current in a power system. They are used to prevent electrical circuits from damage caused by fluctuations and overload of current supply. They interrupt the flow of current upon detecting irregular power by opening or closing electrical circuits. Circuit breakers, unlike fuses, can be reset to resume their usual operations following the interruption of power supply. Widely available in different sizes, the small variants are used to protect low-current circuits, whereas the larger switchgear is used to safeguard high-voltage circuits. They are an essential component of the safety mechanisms that are employed across the construction, transportation, residential and locomotive sectors to minimize the risks of potential fire hazards from wiring issues and equipment failures.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Circuit Breaker Market Trends:

The market is primarily driven by the increasing requirement for upgrading electrical transmission networks across the globe. Growing global population and rapid urbanization have contributed to an increase in the power consumption rates and the rising demand for uninterrupted electricity. Along with this, governments of several countries are heavily investing in expanding their existing power generation capacities with the aim to meet the electricity requirements in both the urban and rural regions. They are also engaging in the renovation of the aging grid infrastructure by installing energy-efficient systems while installing smart grids to facilitate complex power flows with enhanced reliability. Since circuit breakers form an essential component of grid infrastructure, this is providing an impetus to the market growth. The market is further driven by the increasing utilization of circuit breakers in the place of fuses in the residential sector. This can be attributed to the enhanced efficiency offered by these safety devices amid high-voltage fluctuations. Furthermore, the consistent demand for operational safety in the energy sector, along with the rapid expansion of the power sector, is acting as another major growth-inducing factor.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of top circuit breaker manufactuers are ABB Group, Alstom SA, Eaton Corporation Inc., General Electric Company, Mitsubishi Electric Power Products, Inc., Schneider Electric, Siemens AG, Camsco Electric Co. Ltd., G&W Electric Co., Kirloskar Electric Co. Ltd., Larsen & Toubro Limited, Powell Industries Inc., SCHURTER Holding AG, Sensata Technologies Inc. and Toshiba Corporation.

Breakup by Product Type:
• Indoor
• Outdoor

Breakup by Voltage:
• Low
• Medium
• High

Breakup by Technology:
• Air
• Vacuum
• Oil
• SF6

Breakup by End Use:
• Transmission and Distribution
• Renewable
• Power Generation
• Railways

Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Key highlights of the Report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.