The report is titled: “Circuit Breaker Market: By Applications (Automotive Transportation Equipment, Residential Building Construction, Electronics & Electrical Equipment, Others) Voltage Level (High, Medium & Low Voltage); By Type (SF6, Vacuum Circuit Breaker & Others); By End-users (Residential, Commercial, Industrial & Others) – Forecast (2019-2025).” This business intelligence the report provides information regarding the market trends, market growth drivers, market opportunities for new players, competitive landscape of major and minor players operating in the circuit breaker market.
Global Circuit Breaker Market: Demand Analysis
Circuit breakers play a vital role in the electrical distribution systems. They comprise of protective relays, current transformers, and internal control power source. SF6 circuit breakers and common trip breakers are the two main types of circuit breakers among other types. Low voltage circuit breaker (LVCB), high voltage circuit breaker (HVCB), and medium voltage circuit breaker (MVCB) differ based on varied voltage level. MVCB is majorly used in substation automation and also for indoor use.
Global Circuit Breaker Market: Leading Segments
In 2017, a rise in the global electricity production was noted in which Asia held a leading share due to the contribution of the fast development of generating capacities of China. Asian countries such as China, India, and Japan held Three-fourth rise in global electricity production. With government policies encouraging the power sector, the investors are concentrating on ensuring electricity security. These factors altogether in return increased the regional share of APAC in the global circuit breakers market to 37.71% in 2018.
The primary usage of circuit breakers in commercial complexes is to automatically halt the electrical circuit in case of an overload, and also to prevent the electrical fire. As it is particularly important to operate a huge amount of electricity over the building which consists of several floors that use different levels of power consumption. Thus, it is necessary to maintain the circuit breaker which handles much greater electrical capacity. Smarter and reliable miniature circuit breakers (MCBs) are mostly used in light commercial applications such as lighting and domestic appliances. Therefore, commercial application is evaluated to grow at a CAGR of 2.67% throughout the aforementioned period as they use much energy on a daily basis.
Global Circuit Breaker Market: Disruptive Trends
- The necessity of solid state circuit breaker to meet the demand by the next generation power applications in this digital era is in trend.
- The requirement to improve the performance of industrial battery storage solutions and renewable energy solutions.
- Advancements in solid-state technology enhanced the efficiency of a circuit breaker in monitoring and controlling power consumption thus it is gaining traction of circuit breaker manufacturers.
- Flexible power systems support to the digitalized electricity systems helps to evolve the demand for electricity worldwide. Thus it requires effective circuit breaker for a smooth current flow in the power systems.
Global Circuit Breaker Market: Competitive Landscape
Some of the key players with largest market share were listed as per the global circuit breaker market report are ABB, Powell, TE Connectivity, Mitsubishi, Toshiba, Fuji Electric, Siemens, Eaton, and Schneider Electric.
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