The global circuit breaker market is projected to grow at a high rate during the forecast period, mainly due to the growing need for efficient protection devices in electrical circuit and constant rise in electricity demand and consumption. Circuit breakers are pre-set values in percentage terms. These are automatically functioning electrical switches, which are designed to secure electrical networks from being damaged by the excess current from overload or even short circuit. The primary and the basic functioning of the circuit breaker is to interrupt the current flow on detection of any fault.
The market is expected to be driven due to operational safety and the expanding measures undertaken to integrate a dependable and sustainable electrical infrastructure. As developing regions across Asian and African nations witness frequent power lags as well as network failures, the regions hold massive potential in the deployment of effective electric products. The industry dynamics can also be positively influenced by the increasing measures to prevent fire hazards, faults in electrical supply, and relevant operation dereliction.
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Circuit Breaker Market Segmentation
The global circuit breakers market segmentation is divided in terms of voltage, type, and end users.
By voltage, the market includes high voltage, low voltage, and medium voltage segments.
By end-user, the market comprises of residential, commercial, and industrial.
By type, the market divides into SF6, vacuum, and others.
Circuit Breaker Regional Market Analysis
The geographical segmentation of the global circuit breakers market covers 5 key regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
The North American market is the leading region in the global circuit breaker market, primarily due to the fast-paced expansion in the production base over the years. The market contribution of the North American region can be attributed significantly to the US. The US region holds a major hand in the global market and is projected to continue its growth trajectory in the forthcoming years as well.
The European region closely follows North America to stand tall as the second-largest global circuit breakers market. The Asia Pacific market is projected to experience growth at the fastest pace during the forecast period. Herein, developing economies like China, Indonesia, and India pose favorable growth potential as these countries continue to expand their current power generation capacities and the supply infrastructure to match up to the rising electricity demand.
Competitive Landscape
The global circuit breakers market holds a number of key and prominent players, including STAHL (Netherlands), Honeywell International Inc. (US), ABB Group (Switzerland), Holley Metering Ltd. (China), Siemens (Germany), General Electric (US), Schurter Electronics (Switzerland), and Sensus (US).
Industry Related News:
Feb 16th, Schneider Electric announced the introduction of Masterpact MTZ, a one of a kind next-gen high power low voltage circuit breaker, which was assembled in the Indian market. The Masterpact MTZ circuit breaker will offer customers with enhanced and superior performance with optimal security and reliability.
Feb 19th, Leviton announced the introduction of its next generation product Leviton Load Center, which is an internet-connected system that transmits real-time monitoring data to the users and customization notifications to their smart devices. The Leviton Load Center will welcome the new generation of intelligent and smart circuit breakers.
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