The Circuit Breaker Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Circuit Breaker Global Market Report 2024, The circuit breaker market size is expected to see strong growth in the next few years. It will grow to $9.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to the growing adoption of electric vehicles, rising investments in renewable energy infrastructure, rising concerns over cybersecurity in electrical systems, increasing investment in grid resilience, and the growing global population. Major trends in the forecast period include technological advancements, smart grid integration, IoT-enabled devices, the adoption of solid-state circuit breakers, and digital twin technology.
The rise in demand for electricity is expected to propel the growth of the circuit breaker market going forward. The widespread use of electronic devices such as computers, smartphones, and appliances, increased household and commercial electricity consumption, the adoption of smart home technologies, and growth in industrialization contribute to the rising need for electricity. Circuit breakers are essential safety devices in electrical systems, designed to protect against overcurrents and short circuits while providing a means for manual control and maintenance of electrical circuits. For instance, in August 2024, according to Eurostat, a Luxembourg-based government agency, the EU’s gross electricity production increased from 2,784 TWh in 2020 to 2,907 TWh in 2021. Additionally, according to the Department of Climate Change, Energy, the Environment, and Water, an Australia-based government department, in 2021–2022, Australia’s total energy generation climbed by 2% to 272 TWh. Therefore, the rise in demand for electricity is driving the growth of the circuit breaker market.
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The circuit breaker market covered in this report is segmented –
1) By Type: Low voltage, Medium voltage, High voltage
2) By Insulation Type: Vacuum, Air, Gas, Oil
3) By Application: Indoor, Outdoor
4) By End User: Residential, Commercial, Industrial, Utilities
Major companies in the circuit breakers market are proactively developing eco-efficient alternative solutions to address environmental concerns and meet regulatory demands. Eco-efficient alternative solutions are methods, technologies, and practices designed to minimize environmental impact while maximizing efficiency and productivity. For instance, in August 2022, Hitachi Energy Ltd., a Switzerland-based manufacturer of high-voltage equipment, launched its first eco-efficient 420-kilovolt (kV) circuit breaker. This innovative circuit breaker utilizes an eco-efficient gas mixture, replacing the traditional sulfur hexafluoride (SF6) gas known for its high global warming potential. The new gas mixture significantly reduces the environmental impact while maintaining the same high-performance standards. The circuit breaker features advanced digital monitoring and diagnostic capabilities, ensuring reliable and efficient operation.
The circuit breaker market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
……..
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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