Circuit breaker is an automatically operated electrical switch which interrupt excess flow of current and protects the electric circuit from damage. Switches, circuit breakers are equipped for de-energizing the circuits allowing them to work easily and prevent faults. There are various types of circuit breakers used by end users.
Increasing industrial development and rising concern to protect electrical circuit & telecommunication equipment is a major factor driving growth of the global circuit breaker market. In addition, increasing adoption of circuit breaker from manufacturing unit, warehouse, and industrial sector are other factors expected to drive growth of the global circuit breaker market.
High maintenance cost, sensitive to vibration & movement leading to trip of circuit unrelated to electricity overload are factors challenging growth of the global circuit breaker market.
Technological advanced products such as advanced circuit breaker having the ability to switch to DC current as quickly & safely as possible leading to energy storage and grid stability is expected to present new opportunities to market players operating in the global circuit breaker market over the forecast period.
The global circuit breaker market is segmented on the basis of voltage, end-user, and region. On the basis of region, the global circuit breaker market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to upgradation of aging electrical grid infrastructure and increase in electricity demand in the region. Europe market accounts for the second largest revenue share contribution to the global circuit breaker market followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase manufacturing unit in this region and rise in government initiatives for the power system management in emerging economies in this region.
Prominent players operating in the global circuit breaker market are ABB Ltd., Alstom SA, Eaton Corporation plc, General Electric Company, Mitsubishi Electric Power Products, Inc., Schneider Electric S.E., Siemens Corporation, Fuji Electric Systems Co., Ltd. and Bel Fuse Inc.
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