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Circuit Breaker and Fuses Market 2023 Driving Factors Forecast Research 2029

11-22-2023 06:40 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: orion market research

Circuit Breaker and Fuses Market

Circuit Breaker and Fuses Market

The global circuit breaker and fuses market is estimated to grow at a CAGR of nearly 6.0% during the forecast period. The major factors contributing to the growth of the market include the rising demand for renewable energy sources and the growing construction industry. As per the International Renewable Energy Agency (IRENA), the global solar energy capacity increased from 488.7 gigawatts (GW) in 2018 to 586.4 GW in 2019. Solar energy and wind energy is constantly leading renewable capacity expansion. These combinedly accounted for 90% of total net renewable additions in 2019. Growing environmental concerns such as rising carbon emission, air pollution, and global warming are the major factors encouraging the adoption of solar panels.

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They are used for the protection of devices from catching fire and severe damage if the short circuit occurs. For instance, if a short circuit develops in the AC/DC inverter, a fuse between the inverter and the battery acts to prevent a possible battery explosion. Additionally, the fuse will cut the circuit quickly to prevent wires from catching fire. Therefore, the wires, battery, and AC/DC inverter will be safely disabled by the fuse. Thus, the increasing solar energy capacity installation is primarily contributing to the growth of the market.

full report of Circuit Breaker and Fuses Market available @ https://www.omrglobal.com/industry-reports/circuit-breaker-and-fuses-market

• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global Circuit Breaker and Fuses Market- Segment by Region
North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa

The Report Covers
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global circuit breaker and fuses market. Based on the availability of data and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/circuit-breaker-and-fuses-market

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

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