Press release
2025-2034 Circuit Protection Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Circuit Protection Market
What Is the Expected CAGR for the Circuit Protection Market Through 2025?
The market for circuit protection has significantly expanded in the latest years. Its estimated value is expected to climb from $54.5 billion in 2024 to $58.76 billion in 2025, representing a compound annual growth rate (CAGR) of 7.8%. Factors contributing to this growth during the historical era include the progress of the electronics industry, heightened demand for automotive electronics, advancements in industrial automation, infrastructure development, and a surge in consumer electronics demand.
What's the Projected Size of the Global Circuit Protection Market by 2029?
In the coming years, the market size for circuit protection is anticipated to witness robust growth, reaching a staggering $85.52 billion by 2029, with a CAGR of 9.8%. This surge during the prediction period can be explained by the rise in smart grid deployment, solar and wind energy generation, microelectronics and miniaturization, data center escalation, and growing focus on safety and reliability. Key trends during this period include advancements in technology, the proliferation of the internet of things (IoT), the launch of 5G technology, the adoption of the industrial internet of things (IIoT), and the incorporation of energy storage technologies.
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Top Growth Drivers in the Circuit Protection Industry: What's Accelerating the Market?
Circuit protection market growth is projected to be driven by the escalating demand for devices such as smartphones, PCs, laptops, and tablets. Circuit protection plays a crucial role in safeguarding electronic devices from the ill effects of excessive current flow. By incorporating circuit protection, such adverse situations can be effectively mitigated. To exemplify, a study published by Uswitch Limited, a UK-based online and telephone comparison and switching service, in February 2023 reported that the UK had seen a surge of 4.2 million in mobile connections at the start of 2022, with total connections reaching 71.8 million - more than the country's population. This marked a 3.8% increase from the previous year, equivalent to around 2.6 million new connections. It is projected that the UK population will touch 68.3 million by 2025, with nearly 95% (about 65 million people) anticipated to be smartphone users. Consequently, the flourishing demand for smartphones, PCs, and tablets is a significant factor propelling the growth of the circuit protection market.
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What Are the Key Trends Driving Circuit Protection Market Growth?
The development of the circuit protection market is significantly influenced by the introduction of new products. To cater to market requirements, firms are inventing sophisticated and innovative items. For example, ABLIC Inc., a Japanese semiconductor company, introduced the 4-/5-Serial Cell S-82B4/B5 Series and S-82C4/C5 Series of Battery Protection ICs in July 2022. These ICs, intended for protection of lithium-ion battery packs, are designed to guard against overcharging, over-discharging, overcurrent, and short-circuiting.
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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