The global circuit breaker market is estimated to be USD 6.85 Billion in 2017 and is projected to reach USD 8.68 Billion by 2022, growing at a CAGR of 4.85%, from 2017 to 2022. Increasing construction and developmental activities, the growing demand for electricity in developing countries, and rising number of renewable power generation projects are the major drivers of the circuit breaker market.
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The report "Circuit Breaker Market by Voltage (Medium Voltage, and High Voltage Circuit Breakers), End-User (Transmission & Distribution, Renewable, Power Generation, and Railways), Type (Outdoor, and Indoor), and Region - Global Forecast to 2022", The circuit breaker market is expected to grow from an estimated USD 6.85 Billion in 2017 to USD 8.68 Billion by 2022, at a CAGR of 4.85%, from 2017 to 2022. The global market is set to witness significant growth due increasing construction and developmental activities, growing access to electricity, and the increasing number of renewable power generation projects.
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The transmission and distribution segment is expected to hold the largest share of the circuit breaker market, by end-user, during the forecast period.
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The transmission and distribution end-user segment led the circuit breaker market in 2016 and is projected to dominate the market during the forecast period. The renewable segment is expected to grow at the fastest rate during the forecast period.
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The growth of the transmission and distribution segment is primarily driven by increasing investments in sub-station automation, modernization of electric grids, and smart utilities which include smart grids and smart meters. This would enhance protection by decreasing energy losses caused by the poor operational efficiency of traditional equipment.
This would ultimately create new revenue pockets for the circuit breaker market during the forecast period.
The outdoor circuit breaker segment is expected to hold the largest share of the circuit breaker market, by type, during the forecast period.
The outdoor circuit breaker segment led the circuit breaker market, by type, in 2016 and is projected to dominate the market during the forecast period. The need for high reliability and safe operation of sub-station equipment is expected to drive the outdoor circuit breaker market.
Outdoor circuit breakers can operate in the toughest climates and function reliably in every kind of environment.
Asia Pacific: the leading market for circuit breakers
In this report, the circuit breaker market has been analyzed with respect to 5 regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The market in Asia Pacific led the global circuit breaker market in 2016.
Increasing grid investments especially in developing economies such as China and India and plans for electrification in remote areas in countries such as Vietnam, Indonesia, and the Philippines are expected to drive the circuit breaker market in Asia Pacific. Indonesia aims to achieve a 90% electrification rate by 2025 and countries such as the Philippines and Malaysia have similar plans.
Growing investments in smart grid technologies such as distribution grid automation, smart meters, and demand response systems in Japan, South Korea, and Australia, among other countries, would create opportunities for the circuit breaker market in Asia Pacific.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the circuit breaker market. The key players include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hitachi (Japan), Toshiba (Japan), Schneider Electric (France), and Mitsubishi (Japan).
The leading players are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.
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