The global low-voltage circuit breakers market is expected to rise to a value of USD 1657.2 million by 2023, growing at a 4.54% CAGR over the forecast period. The rising demand for new electrical distribution infrastructure is likely to be a prime driver for the global low-voltage circuit breaker market. The reliability and efficiency of modern grid systems is of paramount importance, leading to a high need for security devices such as low-voltage circuit breakers. Various economic factors affecting the market are profiled in the report, including a detailed elaboration on the market’s key growth drivers and restraints.
The growing demand for electricity and widespread grid connectivity in developing regions is likely to be a major driver for the global low-voltage circuit breakers market over the forecast period. Several key governments have taken up long-term projects to provide electricity to all of their citizens, resulting in a growing demand for electrical components and devices.
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Competitive Dashboard:
Leading players in the global low-voltage circuit breakers market include ABB, Schneider Electric, Mitsubishi Electric Corporation, Siemens AG, Eaton, Shanghai Liangxin Electrical Co. Ltd., Delixi, HangShen Electric, CHINT Group, Hyundai Electric and Energy Systems Co. Ltd., Fuji Electric FA Components and Systems Co. Ltd., Changshu Switchgear Mfg Co. ltd., Hager Group, Shanghai Electric Co. Ltd. (People’s Electric Appliance Factory).
Low-Voltage Circuit Breakers Market Segments Analysis:
The global low-voltage circuit breakers market is segmented on the basis of type, application, and region.
By type, the global low-voltage circuit breakers market is segmented into molded-case circuit breaker (MCCB), miniature circuit breaker (MCB), and air circuit breaker (ACB). The MCCB segment accounted for 53.35% share in 2017, followed by MCB and ACB segments respectively. MCCB can exhibit 4.92% CAGR over the forecast period to generate close to USD 903.5 million by 2023.
By application, the global low-voltage circuit breakers market is segmented into energy allocation, automatic circuit shutoff, and others. The automatic circuit shutoff segment is predicted to generate USD 993 million by 2023. Its use in commercial and residential applications is likely to bolster its demand exponentially over the forecast period.
Global Low-Voltage Circuit Breakers Regional Market Analysis:
The global low-voltage circuit breakers market is segmented by region into North America, Central and South America, Europe, the Middle East and Africa, and Asia Pacific.
Europe and North America are also likely to remain key contributors to the global low-voltage circuit breakers market over the forecast period due to the growing demand for renovation of the electricity grid infrastructure, which is likely to lead to a rising demand for advanced devices such as low-voltage circuit breakers.
Asia Pacific is likely to be the major regional segment of the global low-voltage circuit breakers market over the forecast period. The growing economic landscape in emerging APAC countries is likely to be a major driver for the global low-voltage circuit breaker market, as the number of urban users in Asia Pacific is increasing rapidly. This is likely to be a major driver for the low-voltage circuit breakers market in the region, as urban users demand more sophisticated electrical grid networking in residential as well as commercial applications.
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List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Distributors/Traders List
Table 4 Manufacturing Cost Structure of Low-Voltage Circuit Breakers
Table 5 Global Low Voltage Circuit Breaker Market Share, By Type, 2016-2023 (USD Million)
Table 6 Global Low Voltage Circuit Breaker Market, By Application, 2016-2023 (USD Million)
Table 7 Global Low Voltage Circuit Breaker Market, By Country, 2016-2023 (USD Million)
Table 8 North America: Low Voltage Circuit Breaker Market, By Country, 2016-2023 (USD Million)
Table 9 North America: Low Voltage Circuit Breaker Market, By Type, 2016-2023 (USD Million)
Table 10 North America: Low Voltage Circuit Breaker Market, By Application, 2016-2023 (USD Million)
Table 11 Us: Low Voltage Circuit Breaker Market, By Type, 2016-2023 (USD Million)
Continued……..
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