WASHINGTON, Sept. 19, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the global circuit breaker market indicates that market-based circuit breaker systems are expected to expand in global electrification and collect electrical safety regulations. during the forecast period, the growth of the global market for circuit breakers. Global market revenue in 2021 is $5.9 billion.
The size of the global circuit breaker market is expected to reach US$8.2 billion by 2028, and the compound annual growth rate (CAGR) is expected to be 5.7% during the forecast period; states Vantage Market Research, in a report, titled “Circuit Breaker Market Size, Share & Trends Analysis Report by Insulation Type (Vacuum Circuit Breaker, Air Circuit Breaker, Gas Circuit Breaker, Oil Circuit Breaker), by Voltage (Medium Voltage, High Voltage), by Installation (Indoor, Outdoor), by End Users (T&D Utilities, Power Generation, Renewables, Railways), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. states Vantage Market Research, in a report, titled “Circuit Breaker Market Size, Share & Trends Analysis Report by Insulation Type (Vacuum Circuit Breaker, Air Circuit Breaker, Gas Circuit Breaker, Oil Circuit Breaker), by Voltage (Medium Voltage, High Voltage ), by Installation (Indoor, Outdoor), by End Users (T&D Utilities, Power Generation, Renewables, Railways), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. according to a Vantage Market Research report titled “Analysis Report on Circuit Breakers Market Size, Share and Trends by Insulation Type (Vacuum Circuit Breaker, Air Circuit Breaker, Gas Circuit Breaker, Oil Circuit Breaker), Voltage (Medium Voltage, High Voltage). ) ), by installation (indoor, outdoor), by end user (transmission and distribution utilities, power generation, renewables, railways), by region (North America, Europe, Asia Pacific, Latin America) — Global Industry Assessment (2016-2021) and Forecast (2022-2028)”. In the report titled “Report on Analysis of Circuit Breakers Market Size, Share and Trends by Insulation Type (Vacuum Circuit Breaker, Air Circuit Breaker, Gas Circuit Breaker, Oil Circuit Breaker), Voltage (Medium Voltage, High Voltage)” stated), by installation (indoor, outdoor), by end user (transmission and distribution, power generation, renewable energy, railway), by region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016- 2021) and forecast (2022-2028)”.
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In 2021, the global circuit breaker market was valued at US$5.9 billion and will exceed US$8.2 billion by 2028, growing at a CAGR of 5.7% during the 2022-2028 forecast period.
In terms of revenue, the apps segment accounted for the largest share of revenue in 2021 and is expected to maintain its dominant position during the forecast period.
In terms of revenue, this product segment will hold the second largest market share in 2021 and is expected to grow rapidly over the forecast period.
Growth can be attributed to rapid urbanization, technological advances and increased investment in developing countries.
The Asia-Pacific region held the largest share in 2021 and is expected to maintain its position during the forecast period. This can be explained by the presence of a large number of companies producing circuit breakers and the high level of adoption due to government measures to stimulate the industry in the region. Growth occurred mainly due to the expansion of cooperation.
Increasing plans for electrification and increasing investment in industrial sectors to stimulate market growth
Many developing countries have implemented electrification plans to connect rural areas to the grid. In addition, some countries continue to experiment with linking different network areas to expand mega-national networks. These key aspects improve the outlook for the utility-scale switch market. In addition, an increase in electricity supply leads to a rapid expansion of infrastructure, which leads to an excess of electricity. For example, over the past few decades, the World Bank has invested more than $2.3 billion in infrastructure and WAPP reform, which is believed to be the first to bring global electricity to 15 ECOWAS countries by 2030 in key countries in West Africa. In addition, the new mission is progress-based and could fund construction work to speed up access to Niger, Mauritania and Senegal. Therefore, the introduction of electrical switchgear that implements safe and reliable equipment functions stimulates the demand for infrastructure projects around the world, contributing to the expansion of the market in the future.
In addition, the increase in investment in the industrial sector, as well as the increase in investments affecting industrial infrastructure, has created a growing demand for this market for various end users and manufacturing industries around the world. Therefore, such devices are mainly used in industrial and commercial fields.
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Circuit breakers are critical to electrical associations in commercial buildings, organizations and utility scale networks. In addition, electrical switchgears are installed in almost all homes, offices and other places, and due to rapid urbanization and modernization, circuit breakers have become an integral part of every building. In addition, circuit breakers are used in subways, railways, high-speed trains, shopping malls, IT hubs and other places where a stable and reliable power supply is required. The accelerated process of urbanization has increased the demand for electrical switches. In addition, the proliferation of power plants and transmission infrastructure has increased the demand for automatic electrical switches.
In addition, the change of habit reinforces the strict adherence to demonstration tests of circuit breakers and switchgears used in power distribution systems. Some heavy duty equipment requires a separate circuit breaker market for safe and reliable operation. Therefore, this regulatory situation has positively affected the market, contributing to the growth of the circuit breaker market.
The COVID-19 outbreak has affected various industries around the world and the global circuit breaker market is no exception. Governments around the world have taken measures such as strict restrictions to enforce social distancing norms to limit the rapid spread of the pandemic. The circuit breaker market suffered as global manufacturing plants were forced to close during the initial stages of the pandemic. The epidemic directly affects small and medium-sized enterprises, which are the main technology providers in the circuit breaker market. In addition, the launch of the circuit breaker market sector is also taken into account, since the effects of the pandemic have subsided since the beginning of 2022.
Conditions are expected to improve in the second half of 2022 as supply returns to normal. Vantage Market Research examined the impact of COVID-19 on the global circuit breaker market and subsidiaries operating in the circuit breaker market in its Global Circuit Breaker Market Analysis. In addition, demand and supply chain are considered in estimating the current and forecast market size of the global Circuit Breaker industry for all regions and countries based on the following data:
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Asia Pacific led the global marketing of circuit breakers in 2020 and this trend is expected to continue over the forecast period. The development of the region is associated with the rapid growth of the renewable energy sector, rapid industrialization, increased investment in the modernization of the old electricity infrastructure and increased industrial and industrial mobility. In addition, South Korea, Japan, China and India are world leaders in the innovation and production of these circuit breakers, which is driving the expansion of the industry in the Asia-Pacific region. In addition, the presence of leading market players in the Asia-Pacific region and a large consumer base are expected to contribute to the future growth of the market.
“Report on Circuit Breaker Market Size, Share and Trend Analysis” by Insulation Type (Vacuum Circuit Breakers, Air Circuit Breakers, Gas Circuit Breakers, Oil Circuit Breakers) by Voltage. Content (medium voltage, high voltage), by installation (indoor, outdoor), by end user (transmission and distribution, power generation, renewables, railway), by region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) and Forecasts (2022 – 2028).”
February 2022: Phoenix Contact, a global manufacturer of electrical and cable accessories, has launched a new series of market-oriented electronic circuit breaker systems called CAPAROC. It uses data-driven power modules to set up overcurrent protection. CAPAROC offers several power supply modules, circuit breaker units, potential distribution modules and current bars, making it easy to create intelligent systems with communication capabilities.
January 2021: ABB India has launched a new circuit breaker market for the electrical retail market, Formula DIN-Rail. In addition, Formula DIN-Rail is a complete range of miniature circuit breakers (MCBs), residual current circuit breakers (RCCBs) and insulators for the $250 million retail electrical market in India. They are designed and developed under the Made in India scheme and are suitable for all types of residential and commercial buildings.
This market called “Circuit Breakers Market” will contain exclusive information in terms of regional analysis, forecasts and quantitative data – units, key market trends and various other information as described below:
• Type of insulation• Vacuum circuit breakers• Air circuit breakers• Gas circuit breakers• Oil circuit breakers• Voltage• Medium voltage• High voltage• Installation• Indoor• Outdoor• End user• Transmission and distribution utilities• Electricity• Renewable energy• Rail • Regional • North America • Europe • Asia Pacific • Latin America • Middle East & Africa
• North America • USA • Canada • Mexico • Europe • United Kingdom • France • Germany • Italy • Spain • Rest of Europe • Asia Pacific • China • Japan • India • Korea • South East Asia • Rest of Asia Pacific • Latin America • Brazil • Argentina • Rest of Latin America • Middle East and Africa • Gulf States • South Africa • Rest of the Middle East and Africa
• ABB• Schneider Electric• Siemens• Mitsubishi Electric• Eaton• Mitsubishi Electric• CG Power & Industrial Solutions• Sigao Group• LS ELECTRIC• Huayi Electric• Myers Power Products• Larsen & Toubro• TE Connectivity• Meidensha• Toshiba• Powell Industries
Market Growth Drivers, Constraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Technology Landscape, Patent Analysis, North America Market Segmentation and Attractiveness Analysis, Company Market Share Analysis, and COVID-19 Impact Analysis
The report can be customized according to the needs or requirements of the client. If you have any questions, you can contact us at sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales managers will be happy to understand your needs and provide you with the most suitable report.
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