Circuit Breaker Global Market – Overview
Circuit breaker is basically a switching device which can be operated manually and automatically for controlling and protection of electrical power system respectively. As the modern power system deals with huge currents, the special attention should be given during designing of circuit breaker for safe interruption of arc produced during the operation of circuit breaker. Circuit breakers are preferred over fuses because fuses have to be replaced after each operation while a circuit breaker has to be just reset after each operation.
According to a recent study report published by the Market Research Future, the global market of Circuit breaker is forecasted for a record breaking growth in terms of value and volume, with a striking 6.5% of CAGR during the forecasted period (2016 – 2027) thanks to the growing demand for the modular and packaged substation primarily across commercial and industrial end users which is providing the impetus to the growth of Global Circuit Breakers Market during the forecast timeframe.
With the growing concern for safety in industries such as electric, telecommunication, electronic, and automotive, circuit breaker devices are growing in popularity. Additionally, rising implementation of numerous medium and large capacity renewable energy projects will stimulate Circuit Breakers Market growth favorably over the period of 2016 to 2027. Elevated replacement and development activities will enhance the electricity transmission capability worldwide and will also generate exponential revenue over coming timeframe. Shifting trend towards smart transmissions and distribution network as well as high investment in the development of digital substation will drive the circuit breakers Market greatly.
Some of the key players in the Circuit Breaker Market are:
- ABB Group (Switzerland),
- Siemens (Germany),
- Honeywell International Inc. (US), (China),
- STAHL (Netherlands),
- Schurter Electronics (Switzerland),
- Holley Metering Ltd. (China),
- General Electric (US),
- Sensus (US).,
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Circuit Breaker Global Market – Segments
Circuit Breaker Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: SF6, Vacuum, and others.
Segmentation by Voltage: High Voltage, Medium Voltage, and Low Voltage.
Segmentation by End Users: Residential, Industrial and Commercial.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Circuit Breaker Global Market -Synopsis
SF6 circuit breaker technology market valued immensely in 2015 and is anticipated to register a substantial rate of CAGR during 2016 to 2024. The growth can be attributed to the rising product demand, owing to significant features such as high dielectric strength and sufficient arc quenching capability. Vacuum based technology will register a considerable rate of CAGR in the recent future, due to its upsurge demand for the various high and medium voltage substation applications.
Circuit Breaker Global Market – Regional Analysis
The North American Region is one of the leading markets for the Circuit Breaker Market mainly due to the rapid expansion in the production base in the recent times. Europe closely follows North America in leading the circuit breaker market. In 2015, US circuit breakers market valued immensely and will grow at a considerable rate of CAGR in the recent future, primarily driven by the favorable government support to improve the reliability and safety of the distribution and transmission network.
Developing economies like India, China and Indonesia are expected to grow at the fastest pace. Considering the geographical landscape, China circuit breakers market will witness a surpassing growth in terms of revenue by 2027, owing to the numerous on-going renovation and replacement activities of existing transmission and distribution activities. In addition, China Village Electrification Program and China Township Electrification Program will also contribute favorably toward the industry growth. India circuit breakers industry size is predicted to record a substantial rate of CAGR during 2016 to 2024. The futuristic electrification mission of the Government like One Nation, One Grid, and One Price will augment the regional share noticeably.
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