DUBLIN--(BUSINESS WIRE)--The "Circuit Breaker Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global circuit breaker market is projected to reach US$8.196 billion by 2026, at a CAGR of 6.08%, from an estimated US$5.422 billion in 2019.
The market is expected to be driven by the increasing projects of renewable energy, efficient energy infrastructure and increasing developmental projects, as they are in turn increasing the demand for the electricity consumption (especially in developing countries). Rapid industrialization and urbanization in the countries along with the use of the sustainable energy sources (renewable energy) caters the increase in demand for power consumption in the economies, which in turn is increasing the demand for the circuit breakers in the upcoming years. Though, intense competition from the gray market and stringent environmental and safety regulations are impacting the market.
As the gray market is the unorganized sector which supply the low-quality products at the competitive price in the market. Gray market distribution channel is more wide range across the different regions among the consumers which also hinders the growth of the companies in the circuit breaker market. For the companies, there are growth opportunities in the developing countries (smart cities), power infrastructure development and HVDC transmissions. In other words, companies with new innovations and research & development in infrastructure facilities and products have the positive growth in the upcoming future.
By insulation type, the market is segmented as air circuit breakers, oil circuit breakers, gas circuit breakers and others. Among them, there is a potential growth in the air circuit breakers' market due to increase in the renewable energy, as the demand for ACBs will increase because it helps to manage the load in power plants. Hence, ACBs will hold the significant market share. By installation type, the market is segment into outdoor and indoor. Among them, outdoor is projected to hold the significant market share, while by voltage type, the market is segmented into low, medium, and high voltage, where medium and high voltage holds the substantial market share because of the potential growth in ACBs segment.
This does not mean that low voltage segment won't have the growth in the forecast period, the demand for home appliances with low voltage is also increasing which will cater the growth of the low voltage. This also implies that among End-users, industrial uses will significant the market. By rated voltage, 15-50kV will have the significant market share due to increasing demand from commercial and industrial uses.
Companies Mentioned
- ABB Ltd
- CG Power and Industrial Solutions Limited
- Eaton Corporation
- Larsen & Toubro Ltd
- BEL Fuse Inc.
- Salzer Group
- Atom Power Inc
- Camso Electric
- Toshiba
- Siemens AG
- Mitsubishi Electric Corp
- Fuji Electric
- Powell Industries Inc
- Hawker Siddeley Switchgear
- Tavrida Electric
COVID-19 Impact
Due to pandemic, the growth of the circuit breaker market has slowdown in 2020 but is expected to regain its growth in the forecast period because of the rising demand and developmental projects in the countries along with the support of the government initiatives. In the upcoming future, government is promoting the sustainable development with efficient energy consumption through the use of the renewable energy sources, which requires the circuit breakers to prevent damages, short-circuits and transmission issues. COVID-19 has affected the global circuit breaker market severely as the demand for the power consumption fall which in turn impacted the manufacturing and construction activities in this market. People are working from home, which has reduced the demand for the power consumption especially in commercial and manufacturing sectors, and hence, affecting the circuit breaker market
The global pandemic put the pressure on the health care sector and reduces the investment in the power industry. This has impacted the growth of the circuit breaker market, although, the growing demand for the renewable energy is boosting the demand for the circuit breakers to prevent the short circuits and damages in industrial applications such as hotels, commercial buildings, and so on.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Circuit Breaker Market Analysis, By Installation
5.1. Introduction
5.2. Indoor
5.3. Outdoor
6. Global Circuit Breaker Market Analysis, By Insulation Type
6.1. Introduction
6.2. Air circuit breaker
6.3. Oil circuit breaker
6.4. Gas circuit breaker
6.5. Others
7. Global Circuit Breaker Market Analysis, By Rated voltage
7.1. Introduction
7.2. Up to 500V
7.3. 500V - 15kV
7.4. 15kV - 600kV
7.5. Above 600kV
8. Global Circuit Breaker Market Analysis, By End-users
8.1. Introduction
8.2. Industrial
8.3. Commercial
8.4. Residential
9. Global Circuit Breaker Market Analysis, by Geography
9.1. Introduction
9.2. North America
9.3. South America
9.4. Europe
9.5. The Middle East and Africa
9.6. Asia Pacific
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/866lj2
