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Circuit Protection Global Market Report 2024 by The Business Research Company | ABB Ltd., Alstom SA, Bel Fuse Inc., Eaton Corporation plc, General Electric Company, Hitachi Ltd., Keko-Vericon Sp. z o.o., Larsen & Toubro Limited, Mitsubishi Electric Corpor
Circuit Protection Market Size
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%. The growth in the forecast period can be attributed to increasing smart grid implementation, solar and wind power generation, miniaturization and microelectronics, data center expansion, increasing safety and reliability concerns. Major trends in the forecast period include technological advancements, internet of things (iot), 5g technology rollout, industrial iot (iiot), and introduction of energy storage technologies.
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Circuit Protection Market Major Segments
The circuit protection market covered in this report is segmented -
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
Key Driver - Explosive Growth In The Consumer Electronics Fuels Circuit Protection Market
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.
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Prominent Trend - Ablic's Innovative Battery Protection Ics Revolutionize Circuit Protection Market
Product launch shaping the circuit protection market. Companies are creating new and advanced products to satisfy market needs. For instance, in July 2022, ABLIC Inc., a Japan-based semiconductor company, launched the 4-/5-Serial Cell S-82B4/B5 Series and S-82C4/C5 Series of Battery Protection ICs. These lithium-ion battery protection ICs are designed to protect battery packs from overcharge, over-discharge, overcurrent, and short-circuit conditions.
Circuit Protection Market Players
Major companies operating in the circuit protection market include ABB Ltd., Alstom SA, Bel Fuse Inc., Eaton Corporation plc, General Electric Company, Hitachi Ltd., Keko-Vericon Sp. z o.o., Larsen & Toubro Limited, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens Aktiengesellschaft, Texas Instruments Incorporated, Altech Corporation Pty. Ltd., Automation Systems Interconnect Inc., Bourns Inc., Carling Technologies Inc., CBI-electric: low voltage (Pty) Ltd., CHINT Electric Co. Ltd., Cooper Bussmann LLC, Delta Electronics Inc., E-T-A Circuit Breakers GmbH, Fuji Electric Co. Ltd., Hager Group, Legrand SA, Leviton Manufacturing Co. Inc., Littelfuse Inc., Lovato Electric S.p.A., Mersen S.A., Phoenix Contact GmbH & Co. KG
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Largest And Fastest Growing Region In The Market
North America was the largest region in the circuit protection market in 2023. The regions covered in the circuit protection market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Circuit Protection Market Report Structure
3. Circuit Protection Market Trends And Strategies
4. Circuit Protection Market - Macro Economic Scenario
5. Circuit Protection Market Size And Growth
…..
27. Circuit Protection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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