Press release
Explosive Growth In The Consumer Electronics Fuels Circuit Protection Market: Powering Innovation and Expansion in the Circuit Protection Market by 2025
Circuit Protection
What Is the Expected CAGR for the Circuit Protection Market Through 2025?
In recent times, the circuit protection market has experienced significant expansion. The market, which was valued at $54.5 billion in 2024, is projected to rise to $59.88 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%. Factors contributing to this growth during the historical period include the expansion of the electronics industry, heightened demand for automotive electronics, advancements in industrial automation, infrastructure development, and a surge in the demand for consumer electronics.
What's the Projected Size of the Global Circuit Protection Market by 2029?
In the coming years, the size of the circuit protection market is predicted to experience swift expansion. The market is projected to balloon to $89.77 billion by 2029, witnessing a compound annual growth rate (CAGR) of 10.7%. This surge in growth during the predicted period can be credited to factors like the escalating implementation of smart grids, solar and wind power generation enhancements, miniaturization and advancements in microelectronics, the proliferation of data centers, as well as rising focus on safety and reliability issues. Prevailing trends during the forecast period will encompass technological evolution, the proliferation of the Internet of Things (IoT), the roll-out of 5G technology, the widespread utilization of Industrial IoT (IIoT), and the emergence of new energy storage technologies.
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Top Growth Drivers in the Circuit Protection Industry: What's Accelerating the Market?
The surge in the need for smartphones, PCs, laptops, and tablets is projected to push the expansion of the circuit protection market. The purpose of circuit protection is to safeguard a device from harm caused by an overabundance of current. This phenomenon can emerge in electronics like smartphones. Implementing circuit protection can mitigate this issue. For example, in February 2023, a report by Uswitch Limited, a UK-based online and telephone comparison, and switching service, revealed that the UK had 71.8 million mobile connections at the start of 2022, which was 4.2 million more than the population, indicating a 3.8% uptick from 2021 and equating to roughly 2.6 million extra connections. It's predicted that by 2025, the UK population will have climbed to 68.3 million, with around 95% (approximately 65 million people) expected to be smartphone owners. Consequently, escalating demand for smartphones, PCs, and tablets is fuelling the growth of the circuit protection market.
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What Trends Will Shape the Circuit Protection Market Through 2029 and Beyond?
The trend of new product introductions is sculpting the landscape of the circuit protection market. To cater to the evolving needs of the market, businesses are launching innovative and improved products. For example, ABLIC Inc., a semiconductor firm hailing from Japan, introduced the 4-/5-Serial Cell S-82B4/B5 Series and S-82C4/C5 Series of Battery Protection ICs in July 2022. These are lithium-ion battery protection ICs explicitly built to safeguard battery packs against overcharging, discharging excessively, overcurrents, and short-circuits.
What Are the Main Segments in the Circuit Protection Market?
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
Subsegments:
1) By Overcurrent Protection: Fuses, Circuit Breakers, Resettable Fuses (PTC)
2) By Electrostatic Discharge (ESD) Protection: ESD Suppressors, ESD Protection Diodes, ESD Protection ICs
3) By Overvoltage Protection: Surge Protective Devices (SPDs), Transient Voltage Suppressors (TVS), Voltage Clamping Device
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Which Top Companies are Driving Growth in the Circuit Protection Market?
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
Which Regions Will Dominate the Circuit Protection Market Through 2029?
North America was the largest region in the circuit protection market in 2024. The regions covered in the circuit protection market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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