Authored By: Sarah
11 Jul 2024

 Circuit Breaker Market to grow by USD 3378.61 million between 2024-2028

According to a research report “ Circuit Breaker Market” by Power Rating (High, Medium, Low) End-user (Commercial, Industrial, Residential, Utilities) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3378.61 million at a CAGR of  6.11% during the forecast period. The US Department of Energy's Renewable Energy Growth Program, extended until 2029, targets the production of 40 MW of renewable energy annually. This encompasses solar, wind, hydropower, and anaerobic digestion projects, categorized as small, medium, or large based on power output. Commercial, government, non-profit entities, and others can participate, incentivized to meet power production targets. Notably, this program facilitates business opportunities for power electronics manufacturers, supplying essential equipment like circuit breakers to program participants..

Browse market data tables, figures, and in-depth TOC on “Circuit Breaker Market” by Power Rating (High, Medium, Low) End-user (Commercial, Industrial, Residential, Utilities) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028.

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By Power Rating, the High segment is projected to dominate the market size in 2024.

In the business sphere, the global circuit breaker market is poised for substantial expansion in the commercial sector. The burgeoning development of commercial real estate, encompassing office structures, retail complexes, hotels, and other establishments, necessitates electrical infrastructure and circuit breakers for safety and efficient power distribution. Uninterrupted electrical power is crucial for commercial operations, powering lighting, climate control, computers, and essential equipment. Circuit breakers play a pivotal role in maintaining electrical system dependability by mitigating disruptions caused by electrical faults. Modern commercial buildings integrate sophisticated technologies, such as smart building management systems, further emphasizing the importance of robust electrical systems.

By End-user, Commercial  segment is expected to hold the largest market size for the year 2024.

In the global circuit breaker market, the high-end segment is projected to experience robust growth, with a higher Compound Annual Growth Rate (CAGR), over the forecast period. This expansion is attributed to the surging adoption of renewable energy worldwide and the escalating demand for high-voltage circuit breakers in industries, buildings, commercial complexes, and hotels for handling heavy switching loads. High voltage circuit breakers utilize magnetic blowout coils to interrupt the air gap between separable contacts.

APAC is forecasted to hold the largest market size by region in 2024.

The APAC circuit breaker market is projected to experience robust growth, driven by expanding demand in the automotive, aerospace, and electronics sectors of developing economies, including China and India. Key contributors to this market's revenue are China, Taiwan, South Korea, and Japan. Industrialization in countries like China, India, South Korea, Indonesia, and Taiwan will necessitate increased automation, further fueling the market's expansion.

The Circuit Breaker Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ABB Ltd.
  • BCH Electric Ltd.
  • Camsco Electric Co. Ltd.
  • CG Power and Industrial Solutions Ltd.
  • Eaton Corp. Plc
  • General Electric Co.
  • Larsen and Toubro Ltd.
  • LS ELECTRIC Co. Ltd.
  • Meidensha Corp.
  • Mitsubishi Electric Corp.
  • Myers Power Products Inc.
  • Powell Industries Inc.
  • Schneider Electric SE
  • Siemens AG
  • Tavrida Electric GmbH
  • Toshiba Corp.
  • Zhejiang CHINT Electrics Co. Ltd.
  • TE Connectivity Ltd.
  • Salzer Electronics Ltd.
  • Hyundai Electric and Energy Systems Co. Ltd.
.

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Research Analysis Overview

The Circuit Breaker Market encompasses a wide range of electrical safety devices used in various applications, including electrical power distribution, telecommunication, automobiles, and renewable energy sector. These devices play a crucial role in protecting electrical systems from short circuits, overloads, and high-magnitude currents. Outdoor circuit breakers and indoor circuit breakers are two primary types of circuit breakers. Outdoor circuit breakers are designed for use in outdoor electrical wiring systems, while indoor circuit breakers are suitable for use in residential and commercial buildings. Consumer electronics and communication circuits also utilize circuit breakers to ensure electrical safety. Mechanical devices such as vacuum circuit breakers and fuses are commonly used in high-current applications. The renewable energy sector is a significant market for circuit breakers, particularly in energy distribution networks and energy distribution substations. Circuit breakers are essential components in renewable energy applications, including energy generation and load management. Arbitrators and neutral third parties play a crucial role in resolving disputes related to circuit breaker malfunctions or failures. Safety devices, including circuit breakers, are essential components of electrical systems, ensuring the safe and reliable distribution of electrical power.

Market Research Overview

In the renewable energy sector, the utilities segment experiences significant growth in the circuit breaker market. This expansion is driven by the outdoor segment, particularly in the gas and high voltage sectors. Voltage ranges from low to medium and high are crucial considerations in electrical fire prevention and electrical fault mitigation. Renewable power plants and electrical utility infrastructures require robust circuit breakers for energy distribution and transmission. Circuit breakers play a vital role in the residential industry, protecting consumer electronics, computers, telecommunication, and automobiles from electrical hazards. Advanced education facilities and healthcare institutions also rely on circuit breakers for power protection. Smart city initiatives, such as smart grids, require circuit breakers for energy distribution and transmission. Circuit breakers are essential components of power infrastructure, including power generation projects, industrialization, and urbanization. Silicon carbide technology and utility-sponsored programs contribute to the market viability of circuit breakers. Energy efficiency and energy consumption reduction are key benefits of circuit breakers in the energy sector. Circuit breakers are integral to various applications, including electrical wiring systems, communication circuits, and electric vehicle charging. Renewable energy applications, such as photovoltaic systems, require decentralized energy producers and household appliances to be protected by circuit breakers. Circuit breakers act as safety devices, ensuring electrical safety and preventing electrical hazards, such as short circuits and electrical overloads.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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