Global Market Insights, Inc. present the report on Circuit Breaker Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.
Global Circuit Breaker Market in 2017 exceeded USD 13 billion and is projected to surpass an annual installation of 40 million units by 2024. Increasing measures to incorporate a sustainable and reliable electrical network along with focus on operational safety will foster the industry growth. Developing African and Asian nations have been exposed to frequent network failures and network breakdown, thereby the countries pose immense potential for the installation of efficient electrical products. Furthermore, growing measures to curtail operational dereliction, electrical supply faults and fire hazards will positively influence the business potential.
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As renewable electric infrastructure and smart grids penetrate the industry peripherals, revamping & restructuring of the ageing grid infrastructure, demand secure & safe operations which in turn will strengthen the overall circuit breaker market share. Furthermore, ongoing suburban migration has resulted in an exponential increase in consumption of energy which has further strengthened the integration of circuit protection equipment. Henceforth, positive consumer & regulatory shift towards the incorporation of secure and safe electrical infrastructure will augment the overall industry outlook.
< 70 kV circuit breaker market will witness an upsurge on account of ongoing development of power distribution network along with rising energy demand across primary & secondary electric infrastructure. The adoption of micro-grid action strategies positively influenced by regulatory proximities toward off-grid renewable grid networks will further complement the product penetration.
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In the recent years, the global circuit breaker market has gained stimulus with addition of flexible, advanced, and secure product configurations. Although the suppliers and manufacturers have constantly been channelizing their research and development funds to enhance and expand product spectrums, additional fund flow from leading players to integrate a versatile technical platform has been a substantial breakthrough.
In the current industrial regime, electric protection equipment have gained impetus owing to their diverse applicability and product flexibility across power distribution infrastructure. These units have significantly penetrated across a group of applications soaring from small scale residential electricity grid networks to large scale utility-aided distribution network. With increasing acceptance, industry participants and manufacturers have inclined their focus towards the sustainable distribution and development of the products. Positive consumer inclination and product flexibility favored by cost-effective product specifications will fuel the global circuit breaker market share.
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Europe circuit breaker market will increase pertaining to the strict energy efficiency norms in line with growing share of renewable electricity networks. Government with an aim to infuse a strong energy mechanism have been streamlining investments to befit their effective electricity generation & supply networks.
Eminent circuit breaker market participants comprise of: Schneider Electric, ABB, Eaton, TE Connectivity, Toshiba, Mitsubishi, Powell Industries, Hubbell, L&T, Crompton Greaves, Siemens, Hitachi, Fuji Electric, Meidensha, BEL Fuse, and Mersen S.A.