Global Circuit Breakers Market : Global Industry Analysis and Forecast (2018-2026)
Global Circuit Breakers Market is estimated to reach US$ XX Mn by 2026 in terms of revenue at CAGR of XX % in the forecast period. Increase in demand and supply of electricity, especially in the developing countries such as India and China has driven the Circuit Breakers Market. Moreover, the need to modernize the outdated power grids along with the growing technological advancements in power sector is further expected to propel the market. Favorable policies are also encouraging the rise in spending in residential, public, and commercial construction fuel that will considerably boost sales of circuit breakers across the world.
The growth of the circuit breakers is primarily driven by the increasing investments in sub-station automation, modernization of electric grids, and smart utilities which include smart grids and smart meters. This would work onto enhance protection by decreasing energy losses caused usually by the poor operational efficiency of traditional equipment. This would, in turn, create new revenue pockets for the circuit breaker market during the forecast period.
The need for high reliability and safe operation of the sub-station equipment is expected to act as a major driver for the circuit breaker market. Circuit breakers often operate in the toughest climates and offer functional reliability in every environment. The upsurge in investment towards refurbishment and development of transmission grid infrastructure by utilities and private entities will positively influence the Global Circuit Breakers Market revenue from 2017 to 2026. In 2017, U.S. Department of Energy announced the development of bi-directional 1,000 MW HVDC underwater transmission line which will connect Ontario Independent Electricity System Operator and PJM Interconnection.
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Global Circuit Breakers Market is majorly segmented by the technology, voltage level, end-use, and region. Based on technology, the vacuum segment is expected to dominate the global Circuit Breakers Market in 2017. The growth can be attributed to the increasing demand across numerous medium and high voltage substation applications. In addition to this, it is the stringent regulations pertaining to the leakage of toxic greenhouse gas emission from other technologies that will positively influence the overall industry growth.
Under voltage level segment, low voltage circuit breakers held the highest market share which was driven by numerous electrification programs across developing countries. In 2015, Government of India launched Deen Dayal Upadhyaya Gram Jyoti Yojana under which over USD 11 billion investment being made in the line of supplying continuous power in rural areas.
Circuit Breakers can be also segmented based on end-use, where the power distribution gas segment held highest market share that is driven by increasing investment towards the development of new substations primarily in rural areas which is influencing the demand across the globe.
North America held the highest market share holding more than 29% in 2017. The market growth can be attributed to the federal government initiatives to enhance the safety and reliability of transmission and distribution network. The Asia-pacific market is expected to have a higher growth rate in the forecast period driven by growing investments towards the renovation of the existing transmission and distribution network. Increasing demand for the compactly packaged substations across the remote industrial area will further add to the overall revenue.
Key player across the Circuit Breakers industry are ABB, GE Alstom, Siemens, Mitsubishi Electric Corporation and BEL Fuse Inc. The industry is highly fragmented, and price plays a crucial role in determining the business dominance. High initial investment coupled with stringent emission norms may act as a challenge for new entrants. Industry players as a part of strategy are focusing on merger and acquisition to increase its geographical presence. For example, the recent acquisition of Alstom’s power and grid business by GE has significantly impacted its business revenue.
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Global Circuit Breakers Market Scope
Global Circuit Breakers Market By Technology
• Air
• Vacuum
• Oil
• SF6
Global Circuit Breakers Market By Voltage Level
• LV
• MV
• HV
Global Circuit Breakers Market By End-Use
• Power Transmission
• Power Distribution
Global Circuit Breakers Market By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Global Circuit Breakers Market:
• ABB
• GE Alstom
• Siemens
• Mitsubishi Electric Corporation
• BEL Fuse Inc.
• Eaton Corporation
• Schneider Electric
• Toshiba
• Powell Industries
• TE Connectivity
• Mersen.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Circuit Breakers Market outlook. The report encompasses the Circuit Breakers Market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Circuit Breakers Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Circuit Breakers Market positioning of competitors.
Browse Full Report with Facts and Figures of Circuit Breakers Market Report at: https://www.maximizemarketresearch.com/market-report/circuit-breakers-market/11577/
MAJOR TOC OF THE REPORT
Chapter One: Circuit Breakers Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Circuit Breakers Market Competition, by Players
Chapter Four: Global Circuit Breakers Market Size by Regions
Chapter Five: North America Circuit Breakers Revenue by Countries
Chapter Six: Europe Circuit Breakers Revenue by Countries
Chapter Seven: Asia-Pacific Circuit Breakers Revenue by Countries
Chapter Eight: South America Circuit Breakers Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Circuit Breakers by Countries
Chapter Ten: Global Circuit Breakers Market Segment by Type
Chapter Eleven: Global Circuit Breakers Market Segment by Application
Chapter Twelve: Global Circuit Breakers Market Size Forecast (2019-2026)
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