The global demand for Industrial Circuit Breaker Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
A circuit breaker is an essential component of the power protection industry. It plays a crucial part in power transmission and distribution, industrial equipment and machinery, and others. A circuit breaker is an automated safety device designed to prevent fluctuations in the current flow and protect other devices linked to the circuit. It also helps in controlling, regulating, and mastering electric power efficiently. It is currently accessible in diverse sizes ranging from small devices that protect low-current circuits to large switchgear, which protects high-voltage circuits. As circuit breakers are useful in low-, medium-, and high-voltage applications, they are broadly used in the locomotive, construction, and transportation industries.
Market Dynamics
The market is predominantly driven by a rise in the demand for upgrading electrical transmission network, especially in emerging countries such as China and India, on account of rapid urbanization and rising population. So, governments in these countries are focusing on expanding their power generation capacity to meet electricity demand in urban and rural areas. This, in turn, has catalyzed the demand for circuit breakers. In addition to this, government bodies in developed economies replace the old electrical equipment with an energy-efficient system to assure electrical safety and lessen wastage. However, the market is experiencing a decline in circuit breakers' overall sales due to the coronavirus disease (COVID-19) and resulting lockdown imposed in different regions to prevent the spread of the pandemic.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of industrial circuit breaker. The growth and trends of industrial circuit breaker industry provide a holistic approach to this study.
Market Segmentation
This section of the industrial circuit breaker market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Voltage
By Installation
By End Use
- Transmission and Distribution
- Renewable
- Power Generation
- Railways
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Industrial Circuit Breaker market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Industrial Circuit Breaker Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the industrial circuit breaker market include 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 Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.