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Circuit Protection Market Overview - Forecast Market Size, Trends, Growth And Share Anlysis Report 2024-2033 | ABB Ltd., Alstom SA, Bel Fuse Inc., Eaton Corporation PLC, General Electric Company
Circuit Protection Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Circuit Protection industry. This report on Circuit Protection market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The circuit protection market size has grown rapidly in recent years. It will grow from $50.06 billion in 2023 to $55.41 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to electronics industry growth, increased demand for automotive electronics, increased in industrial automation, growth of the infrastructure development, and increased consumer electronics demand. The circuit protection market size is expected to see rapid growth in the next few years. It will grow to $83 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
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Key Market Players:
ABB Ltd., Alstom SA, Bel Fuse Inc., Eaton Corporation PLC, General Electric Company are prominent players in the Circuit Protection industry.
Market Drivers:
According to the Circuit Protection Market Report 2024 by The Business Research Company, The growing demand for smartphones, PCs, laptops, and tablets is expected to drive the growth of the circuit protection market. Circuit protection is used to protect a device from damage caused by excessive flow of current. This situation can occur in electronic devices such as smartphones. By installing circuit protection, such a situation can be avoided. In April 2021, according to the report published by Canalys, a market analyst firm, PC sales have remained stagnating for years due to the rise of smartphones. Over the last year, global shipments of desktops, laptops, and workstations have surged by 55%. The raw numbers-82.7 million units-make it the company's highest first-quarter shipment order since 2012. Notebook and mobile workstation shipments have surged by 79% year over year to 67.8 million units. Therefore, the rising demand for smartphones, PCs, and tablets drives the circuit protection market growth.
More information about the Global Circuit Protection Market Report -
https://www.thebusinessresearchcompany.com/report/circuit-protection-global-market-report
Market segments for Circuit Protection include:
1)By Type: Overcurrent Protection, Electrostatic Discharge (ESD) Protection, Overvoltage Protection
2)By Device: Circuit Breakers, Fuses, ESD Protection Devices, Surge Protection Devices
3)By Channel Outlook: Original Equipment Manufacturer (OEM), Retail, Wholesale
4)By End-User: Automotive And Transportation, Electrical And Electronics, Energy, Construction, Industrial, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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