Circuit Breakers and Fuses Market - Industry Size, Share, Growth, Trends and Forecast Analysis For 2021

The global market for circuit breakers and fuses has been covered under the scope of this report. Circuit breakers are electrical switches which operate automatically to protect the electrical circuit from damage by turning it on/off when faced with overload or short circuit. The basic function of the circuit breaker is to identify any malfunctioning and breakup in the current flow. Whereas fuses are a kind of low resistance resistor which acts as a sacrificial appliance designed to protect the circuit from either load or short circuit. Circuit breakers and fuses find application in the construction industry, automotive industry, consumer electronics and power industry among others. High focus on efficient and reliable power distribution and transmission coupled with the installation of new energy infrastructure in emerging economies is expected to boost the circuit breakers and fuses market.

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Industrial infrastructure and construction sectors in developing nations such as Brazil, India, and Indonesia are witnessing significant increase in demand for circuit breakers and fuses in the last few years. This increase in demand is driven by large spending on housing, water supply, rail transport, roads, airport development, and ports. Circuit breakers and fuses are used in residential and commercial construction projects. Increased demand from the construction sector has also triggered demand for circuit breakers and fuses in countries such as India, China, Indonesia, and Philippines. Furthermore, increased need to meet demand for electricity distribution is anticipated to boost the circuit breakers and fuses market during the forecast period.

The global circuit breaks and fuses market is segmented by region in North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). North America leads the global circuit breakers and fuses market, followed by Asia Pacific in 2014. Rising demand for electricity due to rapid urbanization has made Asia Pacific a lucrative market for circuit breakers and fuses. Higher focus on efficient and reliable power transmission and distribution coupled with the installation of new energy infrastructure in emerging economies is expected to boost the circuit breakers and fuses market.

The global circuit breaker and fuses market is segmented by the voltage level of installation into: low, medium and high voltage circuit breakers. By arc quenching media type the circuit breaker and fuses market has been segmented into: air, vacuum, oil and SF6 circuit breakers. The global fuses market is segmented into: low voltage fuses and high voltage fuses. The low voltage fuses are further segmented into Plug-in fuses and cartridge fuses. The low voltage circuit breakers were a major contributor to the global circuit breakers and fuses market in 2014. This growth is attributed to vast and the rapid development of power grids. Countries globally have agreed to conform to the International Electrotechnical Commission (IEC) standard for low voltage circuit breakers. With enactment of the Kyoto Protocol, many countries across the world such as China, Brazil, France and Germany, among others have implemented mandatory laws to reduce carbon dioxide emissions. As low voltage circuit breakers are the major components used in electrical installations, molded case circuit breakers are estimated to be the next generation low voltage circuit breakers that can help satisfy market needs.

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The power generation sector in the global circuit breaker and fuses market was a major contributor in 2014. As power generation increases, the market for protection devices such as circuit breakers and fuses is expected to grow.

The key players operating in the circuit breaks and fuses market are ABB Ltd. (Switzerland), Alstom SA. (France), Eaton Corporation (Ireland), G&W Electrics Company (U.S), General Electric Corp. (U.S), Siemens AG (Germany), Schneider Electrics SE (France), Pennsylvania Breaker LLC (U.S.), Toshiba Corporation (Japan), Maxwell Technologies Ltd (U.S.) and Mitsubishi Electric (Japan) among others.

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