Circuit Breaker Market Overview:
According to the latest report by IMARC Group, titled “Circuit Breaker Market Growth 2022: Global Industry Trends, Share, Size, Opportunity and Forecast Till 2027”, The global circuit breaker market reached a value of US$ 8.27 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.24 Billion by 2027, exhibiting at a CAGR of 3.43% during 2022-2027.
A circuit breaker is a switching device that is proficient in making, carrying, and breaking currents under normal circuit conditions. It can be operated manually or automatically for protecting and controlling an electric power system. It is extensively utilized in small and medium substations, railway systems, high voltage transmission and distribution lines, and other applications to protect the electrical system.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
|Base Year of the Analysis||2021|
The global market is primarily driven by the growing safety measures and rising requirements for protecting electrical systems. Furthermore, increasing investments in developing energy infrastructures across emerging economies are expected to contribute to market growth.
Moreover, several electrification initiatives undertaken by the governments of various countries are also creating a positive outlook for the market.
Besides this, the widespread adoption of electrical safety regulations across the globe is positively influencing the market growth. Additionally, continual replacement of the old electrical equipment with energy-efficient systems to ensure safety and minimize energy wastage is further providing an impetus to the market growth.
Global Circuit Breaker Market 2022-2027 Analysis and Segmentation:
ABB Group, Alstom SA, Eaton Corporation Inc., General Electric Company, Mitsubishi Electric Power Products, Inc., Schneider Electric, Siemens AG, Camsco Electric Co. Ltd., G&W Electric Co., Kirloskar Electric Co. Ltd., Larsen & Toubro Limited, Powell Industries Inc., SCHURTER Holding AG, Sensata Technologies Inc. and Toshiba.
Breakup by Product Type:
Among these, outdoor circuit breakers represent the leading market segment.
Breakup by Voltage:
Based on the voltage, the market has been classified into low, medium and high. Low voltage circuit breakers account for majority of the total global market.
Breakup by Technology:
On the basis of the technology, the market has been categorized into air, vacuum, oil and SF6. Among these, air circuit breakers hold the largest market share.
Breakup by End Use:
- Transmission and Distribution
- Power Generation
Based on the end-use, the market has been segmented into transmission and distribution, renewable, power generation and railways. Among these, transmission and distribution dominate the market segment.
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance 2016-2021
- Market Outlook 2022-2027
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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