The circuit breaker and fuse market surpassed USD 12 billion in 2014. Demand for upgradations to new effective networks and connectivity with renewable energy are estimated to add market sales in the future. Circuit breakers refer to electrical switches utilized on supply & transmission networks for protecting equipment.
These products help manage electrical loads. They also protect electrical & electronic components from unanticipated power vacillations. The vacillations may arise from ground defects, short circuits, overvoltage, and overload. Safety concerns in telecommunications, automotives, and electrical equipment have raised the demand for innovative devices.
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This boosts the circuit breaker and fuse market. Moreover, wide applications of these devices in automotive electronics and growing energy consumption should stimulate market demand during the forecast period (2015 to 2022). Emphasis on manufacturing and power system administration, in contrast with the broad utilization of electronic devices, provides expansion prospects.
The substitution of automated & electro-automated instruments with electronic equipment in manufacturing & industrial sectors would steer market sales. In addition, stern environmental policies supporting the demand for distribution & innovative transmission equipment could also fuel the market in the coming seven years.
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The circuit breaker and fuse market is trifurcated into products, applications, and regions. Medium, low, and high voltage are the products. Low voltage products underwent significant saturation in 2014. They may grow at more than 7% CAGR till 2022. Application segments comprise transport, power production, construction, consumer electronics, manufacturing, and others.
Others’ includes medical, army, etc. Power production occupied over 20% shares in 2014. It could grow at over 4.5% CAGR during 2015 to 2022. Construction is predicted to witness over 7% CAGR till the end of the forecast period. It is growing robustly in emergent nations like Indonesia & India.
In regards to regions, the circuit breaker and fuse market can be fragmented into North America, Europe, Asia Pacific, and rest of the world. North America should be the most prominent market in the years ahead. This could be attributed to its flourishing economy and industrialized base.
Major manufacturers in the global market are Eaton Corporation, Mitsubishi Electric, General Electric, Alstom SA, and Maxwell Technologies.
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