Latest News- Circuit Breaker Market: High is expected to lead the Power Rating segment during 2025-2029

The Circuit Breaker Market is being driven by Increased adoption of renewable energy

The Circuit Breaker Market is expected to grow at a CAGR of 7.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5275.3 million. In the context of modern power systems, smart grids represent advanced electrical networks that facilitate communication between various components for improved efficiency and reliability. These networks, which are gaining traction in countries such as the US, Germany, Japan, and European nations, enable the integration of renewable energy resources and reduce power outages. As an integrated system, a smart grid connects all power network assets, including generation, transmission, distribution, and consumption. The primary advantage of a smart grid lies in its capacity to generate substantial data volumes. This data, combined with the increasing prevalence of variable power sources such as automation devices, sensors, and other smart devices, presents significant opportunities for utilities to manage multiple databases and synchronize them for optimal power network performance. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Power Rating
  • High
  • Medium
  • Low
• End-user
  • Commercial
  • Industrial
  • Residential
  • Utilities
• Type
  • MCB
  • MCCB
  • ACB
  • VCB
  • GIB
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased adoption of renewable energy
• Increase in number of residential and commercial building projects
• Growing investments in electric power systems

However, the market also witnesses some limitations, which are as follows:

• Poor financial health of power sector in markets such as India and Pakistan
• Issue of power losses during transmission and distribution
• Threat from refurbished and counterfeit products

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Market Scope in Circuit Breaker Market Research Report

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Research Analysis Overview

The Circuit Breaker Market encompasses various aspects of breaker life cycle management, including diagnostics for electrical arc energy, interrupting capacity, and control. Breaker failure analysis, protective device selection, and monitoring are crucial for ensuring power system stability and selective coordination. Grounding techniques, energy management systems, power quality improvement, and automation are also essential. Predictive maintenance, insulation coordination, and transient stability analysis ensure circuit breaker reliability. Additionally, voltage surge protection, power system simulation, and fault location techniques are integral to circuit breaker performance. Calibration and commissioning complete the circuit breaker solution, enhancing overall system efficiency and reducing downtime.

Market Research Overview

The global electrical components and equipment market encompasses businesses involved in the production of electric cables and wires, electrical components, and electrical equipment. According to Technavio, this market's size is determined by the consolidated revenue generated from manufacturers of various sub-segments, including arc fault detection and protection, overcurrent protection, short circuit interruption, and ground fault detection systems. These sub-segments fall under electrical distribution and protection equipment. The market also includes companies that rent or lease electrical components and equipment to industrial, commercial, and residential clients.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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