Circuit Breaker Market Overview

Circuit Breaker Market is projected to be worth USD 12.45 Billion, registering a CAGR of 6.32% during the forecast period (2022 - 2030).

Circuit breakers are devices used to protect electrical systems from damage caused by overcurrent or short circuits. They are widely used in power generation, transmission, and distribution systems, as well as in various industries such as manufacturing, healthcare, and automotive. The global circuit breaker market is expected to witness strong growth in the coming years driven by increasing demand from the power generation and transmission industries.

The market is segmented by type, voltage level, end-use industry, and region. The main types of circuit breakers are air, vacuum, and gas circuit breakers. The voltage level of circuit breakers can range from low to high, depending on the application. The market is dominated by low voltage circuit breakers, which are widely used in residential, commercial, and industrial applications.

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Market Segmentation

According to the global Circuit Breaker Market report, this market is segmented based on type, end-users, and voltage.

  • On the basis of type segment, the global market for Circuit breakers has been divided into indoor circuit breakers and outdoor circuit breakers. Among all, the outdoor circuit breaker segment is estimated to contribute largely to the global market during the forecast period due to the rising installations of wind and solar power plants.
  • The global Circuit Breaker Market has segregated based on the end-users such as transmission and distribution, renewables, power generation, and railways. Transmission and distribution are predicted to generate the largest market share in the forecast period because of the rising replacement of aging infrastructures and demand for electricity.
  • Based on the voltage segment, the global market for Circuit Breaker has been classified into medium and high. Out of all, the high voltage segment is predicted to register the largest market share for circuit breakers during the research period because of the rising investments in the electrical transmission network.

Regional Analysis

Regionally, the global Circuit Breaker Market has been spread across Asia-Pacific, North America, Europe, and the rest of the world.

  • During the forecast period, the Asia-Pacific market acquires the dominant place in the global market for circuit breakers. The support of countries like China highly contributes to the Asia-pacific market growth. This region has market growth opportunities because of the rising demand for renewable energy. It has been identified that this region has emphasized high load remission lines that are driving the market growth in the region.
  • The North American market is also playing a significant role in the global market by generating significant market share during the review period due to the biggest circuit breaker manufacturers like Powell (US) and others. Additionally, the replacement of old grid infrastructure, rising innovation and the launch of new products are driving the regional market growth.
  • Further, one of Europe's emerging circuit breaker regional markets is predicted to acquire a high expansion rate during the estimated period. In this region, the rising population and rising demand for the power industry are expected to drive the European regional market.

Industry News

In January 2020, C&S Electric was acquired by Siemens to cater to the rising need for electrification products. This acquisition has a significant scope that includes the Indian operations of C&S Electric's low and medium voltage power busbars, low-voltage switchgear components and panels, and metering and protection of devices businesses.

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Key Players

  • ABB (Switzerland)
  • Schneider Electric (France)
  • Siemens (Germany)
  • Mitsubishi (Japan)
  • Toshiba (Japan)
  • Powell (US)
  • TE Connectivity (Switzerland)
  • CG Power (India)
  • Tavrida Electric (Switzerland)
  • Larsen & Toubro (India)
  • Fuji Electric (Japan)