Circuit Breaker
PUBLISHED: 2024 ID: SMRC26284
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Circuit Breaker

Circuit Breaker Market Forecasts to 2030 - Global Analysis By Type (SF6 Circuit Breaker, Oil Circuit Breaker (OCB), Vacuum Circuit Breaker (VCB), Air Circuit Breaker (ACB), Molded Case Circuit Breaker (MCCB), Miniature Circuit Breaker (MCB) and Other Types), Installation Type, Mechanism Type, Application, End User and By Geography

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4.5 (98 reviews)
Published: 2024 ID: SMRC26284

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Circuit Breaker Market is accounted for $6.9 billion in 2024 and is expected to reach $10.7 billion by 2030 growing at a CAGR of 7.5% during the forecast period. A circuit breaker is an electrical switching device designed to protect an electrical circuit from damage caused by excess current from an overload or short circuit. It works by automatically interrupting the flow of electricity within a circuit when it detects a fault condition, thereby preventing damage to the circuit and connected devices, and reducing the risk of fire or other hazards. Circuit breakers are commonly used in residential, commercial, and industrial electrical systems to ensure safety and reliability. They come in various types, such as thermal-magnetic, electronic, and hydraulic-magnetic, each with specific applications and operating principles.

According to the World Investment Report 2021, Asia-Pacific received an inflow of USD 535 billion from Foreign Direct Investment (FDI) in 2020, which was majorly contributed by China and Singapore. 

Market Dynamics: 

Driver: 

Growth of the electronics and automotive industries

The market has experienced significant growth driven by the expansion of the electronics and automotive industries. In electronics, the demand for circuit breakers is propelled by the proliferation of smart devices, IoT technologies, and renewable energy systems. Similarly, the automotive sector's evolution towards electric vehicles has surged the need for advanced circuit protection solutions. These trends have led to an upward trajectory in the market, with continued growth prospects on the horizon.

Restraint:

Stringent environmental regulations

These regulations demand the use of eco-friendly materials and the implementation of sustainable manufacturing processes, impacting production costs and product designs. Adherence to these regulations necessitates substantial investments in research and development to develop compliant technologies while maintaining competitive pricing. Failure to comply could result in penalties and damage to corporate reputation, underscoring the importance of proactive strategies to navigate this regulatory landscape effectively.

Opportunity:

Rising focus on electrical safety

With a heightened emphasis on electrical safety, the Circuit Breaker Market is witnessing a significant surge. This trend is primarily driven by increasing awareness regarding the importance of safeguarding electrical systems against potential hazards. As industries and households prioritize safety measures, demand for advanced circuit breakers equipped with enhanced safety features is escalating. Manufacturers are innovating to meet these requirements, introducing technologies that offer improved protection against overloads, short circuits, and other electrical faults.

Threat:

Fluctuations in raw material prices

The market faces challenges due to fluctuations in raw material prices. These variations directly impact manufacturing costs, influencing pricing strategies and profit margins. For instance, copper, aluminum, and other metals used in circuit breaker production experience price volatility due to global market dynamics and geopolitical factors. Additionally, disruptions in the supply chain, such as natural disasters or trade disputes, exacerbate these fluctuations, leading to uncertainties in the market.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Circuit Breaker Market, as it disrupted global supply chains and caused fluctuations in demand. Lockdowns and restrictions led to delays in production and construction projects, affecting the installation of circuit breakers. Moreover, economic uncertainties prompted businesses to postpone investments, further dampening market growth. However, increased focus on digitalization and remote monitoring solutions spurred demand for smart circuit breakers.

The electronic segment is expected to be the largest during the forecast period

The electronic is expected to be the largest during the forecast period. These breakers integrate electronic components for precise control and monitoring, offering benefits such as faster response times, improved safety features, and enhanced reliability compared to traditional counterparts. Factors such as industrial automation, smart grid implementations, and the rise of renewable energy sources are driving the adoption of electronic circuit breakers across various sectors, promising a lucrative market outlook.

The transportation segment is expected to have the highest CAGR during the forecast period

The transportation segment is expected to have the highest CAGR during the forecast period. With the increasing emphasis on renewable energy integration and smart grid technologies, there's a pressing need for advanced circuit protection solutions. This has propelled the adoption of innovative transportation systems such as vacuum circuit breakers and sulfur hexafluoride circuit breakers. Moreover, stringent safety regulations and the need for reliable power supply further augment the demand for transportation solutions in the market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by factors such as increasing investments in infrastructure, rising demand for reliable power supply, and stringent regulations regarding electrical safety. Technological advancements leading to more efficient and compact circuit breakers also contribute to market expansion. Moreover, the growing adoption of renewable energy sources necessitates enhanced grid reliability, further fueling market growth. 

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. With the advent of smart grid technologies, there is a growing demand for intelligent circuit breakers capable of remote monitoring, control, and diagnostics to enhance grid efficiency and reliability. Innovations in circuit breaker design, such as vacuum circuit breakers, gas-insulated circuit breakers, and solid-state circuit breakers, are offering improved performance, reliability, and efficiency compared to traditional models.

Key players in the market

Some of the key players in Circuit Breaker market include Schneider Electric Inc., Toshiba Corporation, CG Power and Industrial Solutions Limited, Eaton Corporation Plc, Powell Industries, Camsco Electric, Alstom, Salzer Group, ABB Group, Kirloskar Electric Co. Ltd., Larsen & Toubro Limited, Furukawa Group, Siemens AG, Mitsubishi Electric Corporation, Havells India Ltd., General Electric, Hitachi, Ltd. and Fuji Electric Co., Ltd.

Key Developments:

In March 2023, Schneider Electric announced the launch of its new EcoStruxure Power One Compact NSX circuit breakers, which are designed to help businesses save energy and improve safety.

In February 2023, Eaton announced the launch of its new Cutler Hammer XMT2 circuit breakers, designed to provide high performance and reliability for critical applications.

Types Covered:
• SF6 Circuit Breaker
• Oil Circuit Breaker (OCB)
• Vacuum Circuit Breaker (VCB)
• Air Circuit Breaker (ACB)
• Molded Case Circuit Breaker (MCCB)
• Miniature Circuit Breaker (MCB)
• Other Types

Installation Types Covered:
• Outdoor 
• Indoor 

Mechanism Types Covered:
• Electromechanical 
• Electronic 
• Pneumatic 
• Spring-Based
• Oil-Based

Applications Covered:
• Smart Homes
• Retail Stores
• Mining Operations
• Power Generation
• Railways
• Substations
• Manufacturing Plants
• Other Applications

End Users Covered:
• Residential 
• Commercial 
• Industrial 
• Utilities and Energy
• Transportation 
• Data Centers
• Telecommunications
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary         
           
2 Preface          
 2.1 Abstract         
 2.2 Stake Holders        
 2.3 Research Scope        
 2.4 Research Methodology       
  2.4.1 Data Mining       
  2.4.2 Data Analysis       
  2.4.3 Data Validation       
  2.4.4 Research Approach       
 2.5 Research Sources        
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions       
           
3 Market Trend Analysis        
 3.1 Introduction        
 3.2 Drivers         
 3.3 Restraints        
 3.4 Opportunities        
 3.5 Threats         
 3.6 Application Analysis       
 3.7 End User Analysis        
 3.8 Emerging Markets        
 3.9 Impact of Covid-19        
           
4 Porters Five Force Analysis        
 4.1 Bargaining power of suppliers       
 4.2 Bargaining power of buyers       
 4.3 Threat of substitutes       
 4.4 Threat of new entrants       
 4.5 Competitive rivalry        
           
5 Global Circuit Breaker Market, By Type       
 5.1 Introduction        
 5.2 SF6 Circuit Breaker        
 5.3 Oil Circuit Breaker (OCB)       
 5.4 Vacuum Circuit Breaker (VCB)       
 5.5 Air Circuit Breaker (ACB)       
 5.6 Molded Case Circuit Breaker (MCCB)      
 5.7 Miniature Circuit Breaker (MCB)      
 5.8 Other Types        
           
6 Global Circuit Breaker Market, By Installation Type      
 6.1 Introduction        
 6.2 Outdoor          
 6.3 Indoor          
           
7 Global Circuit Breaker Market, By Mechanism Type      
 7.1 Introduction        
 7.2 Electromechanical         
 7.3 Electronic         
 7.4 Pneumatic         
 7.5 Spring-Based        
 7.6 Oil-Based        
           
8 Global Circuit Breaker Market, By Application      
 8.1 Introduction        
 8.2 Smart Homes        
 8.3 Retail Stores        
 8.4 Mining Operations        
 8.5 Power Generation        
 8.6 Railways         
 8.7 Substations        
 8.8 Manufacturing Plants       
 8.9 Other Applications        
           
9 Global Circuit Breaker Market, By End User      
 9.1 Introduction        
 9.2 Residential         
 9.3 Commercial         
 9.4 Industrial         
 9.5 Utilities and Energy        
 9.6 Transportation         
 9.7 Data Centers        
 9.8 Telecommunications       
 9.9 Other End Users        
           
10 Global Circuit Breaker Market, By Geography      
 10.1 Introduction        
 10.2 North America        
  10.2.1 US        
  10.2.2 Canada        
  10.2.3 Mexico        
 10.3 Europe         
  10.3.1 Germany        
  10.3.2 UK        
  10.3.3 Italy        
  10.3.4 France        
  10.3.5 Spain        
  10.3.6 Rest of Europe       
 10.4 Asia Pacific        
  10.4.1 Japan        
  10.4.2 China        
  10.4.3 India        
  10.4.4 Australia        
  10.4.5 New Zealand       
  10.4.6 South Korea       
  10.4.7 Rest of Asia Pacific       
 10.5 South America        
  10.5.1 Argentina       
  10.5.2 Brazil        
  10.5.3 Chile        
  10.5.4 Rest of South America      
 10.6 Middle East & Africa       
  10.6.1 Saudi Arabia       
  10.6.2 UAE        
  10.6.3 Qatar        
  10.6.4 South Africa       
  10.6.5 Rest of Middle East & Africa      
           
11 Key Developments         
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 11.2 Acquisitions & Mergers       
 11.3 New Product Launch       
 11.4 Expansions        
 11.5 Other Key Strategies       
           
12 Company Profiling         
 12.1 Schneider Electric Inc.       
 12.2 Toshiba Corporation       
 12.3 CG Power and Industrial Solutions Limited     
 12.4 Eaton Corporation Plc       
 12.5 Powell Industries        
 12.6 Camsco Electric        
 12.7 Alstom         
 12.8 Salzer Group        
 12.9 ABB Group        
 12.10 Kirloskar Electric Co. Ltd.       
 12.11 Larsen & Toubro Limited       
 12.12 Furukawa Group        
 12.12 Siemens AG        
 12.14 Mitsubishi Electric Corporation      
 12.15 Havells India Ltd.        
 12.16 General Electric        
 12.17 Hitachi, Ltd.        
 12.18 Fuji Electric Co., Ltd.       
           
List of Tables          
1 Global Circuit Breaker Market Outlook, By Region (2022-2030) ($MN)    
2 Global Circuit Breaker Market Outlook, By Type (2022-2030) ($MN)    
3 Global Circuit Breaker Market Outlook, By SF6 Circuit Breaker (2022-2030) ($MN)   
4 Global Circuit Breaker Market Outlook, By Oil Circuit Breaker (OCB) (2022-2030) ($MN)  
5 Global Circuit Breaker Market Outlook, By Vacuum Circuit Breaker (VCB) (2022-2030) ($MN)  
6 Global Circuit Breaker Market Outlook, By Air Circuit Breaker (ACB) (2022-2030) ($MN)  
7 Global Circuit Breaker Market Outlook, By Molded Case Circuit Breaker (MCCB) (2022-2030) ($MN) 
8 Global Circuit Breaker Market Outlook, By Miniature Circuit Breaker (MCB) (2022-2030) ($MN)  
9 Global Circuit Breaker Market Outlook, By Other Types (2022-2030) ($MN)   
10 Global Circuit Breaker Market Outlook, By Installation Type (2022-2030) ($MN)   
11 Global Circuit Breaker Market Outlook, By Outdoor  (2022-2030) ($MN)    
12 Global Circuit Breaker Market Outlook, By Indoor  (2022-2030) ($MN)    
13 Global Circuit Breaker Market Outlook, By Mechanism Type (2022-2030) ($MN)   
14 Global Circuit Breaker Market Outlook, By Electromechanical  (2022-2030) ($MN)   
15 Global Circuit Breaker Market Outlook, By Electronic  (2022-2030) ($MN)    
16 Global Circuit Breaker Market Outlook, By Pneumatic  (2022-2030) ($MN)   
17 Global Circuit Breaker Market Outlook, By Spring-Based (2022-2030) ($MN)   
18 Global Circuit Breaker Market Outlook, By Oil-Based (2022-2030) ($MN)    
19 Global Circuit Breaker Market Outlook, By Application (2022-2030) ($MN)   
20 Global Circuit Breaker Market Outlook, By Smart Homes (2022-2030) ($MN)   
21 Global Circuit Breaker Market Outlook, By Retail Stores (2022-2030) ($MN)   
22 Global Circuit Breaker Market Outlook, By Mining Operations (2022-2030) ($MN)   
23 Global Circuit Breaker Market Outlook, By Power Generation (2022-2030) ($MN)   
24 Global Circuit Breaker Market Outlook, By Railways (2022-2030) ($MN)    
25 Global Circuit Breaker Market Outlook, By Substations (2022-2030) ($MN)   
26 Global Circuit Breaker Market Outlook, By Manufacturing Plants (2022-2030) ($MN)   
27 Global Circuit Breaker Market Outlook, By Other Applications (2022-2030) ($MN)   
28 Global Circuit Breaker Market Outlook, By End User (2022-2030) ($MN)    
29 Global Circuit Breaker Market Outlook, By Residential  (2022-2030) ($MN)   
30 Global Circuit Breaker Market Outlook, By Commercial  (2022-2030) ($MN)   
31 Global Circuit Breaker Market Outlook, By Industrial  (2022-2030) ($MN)    
32 Global Circuit Breaker Market Outlook, By Utilities and Energy (2022-2030) ($MN)   
33 Global Circuit Breaker Market Outlook, By Transportation  (2022-2030) ($MN)   
34 Global Circuit Breaker Market Outlook, By Data Centers (2022-2030) ($MN)   
35 Global Circuit Breaker Market Outlook, By Telecommunications (2022-2030) ($MN)   
36 Global Circuit Breaker Market Outlook, By Other End Users (2022-2030) ($MN)   
           
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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