Circuit breakers are vital part of power protection industry. Circuit breakers play a significant part in electric power transmission and distribution in consumer electronics, industrial equipment and machinery, computers, telecommunication, automobiles and data communication circuits among others.
Currently, the market has witness compact circuit breakers requiring negligible maintenance compared to previous technologies. Circuit breakers are used to control high, medium and low voltage transmission systems. The need for circuit breakers has gone up considerably with increasing concern for safety in electronic, automotive, electrical and telecommunication equipment. The expansion and advancement of the transmission network is set to fuel the growth of the global circuit breakers market.
One of the chief factors driving the market is the increased construction activities globally. Increasing raw material prices is one of the major challenges constraining the growth of the market. Circuit breakers are electrical switching devices used on distribution and transmission networks for safety of the equipment and devices. Increasing grid investments across the globe to replace ageing grid, increasing need to upgrade to new efficient networks, need for effective load management and renewable energy connectivity to grid are important factors that are driving the growth of circuit breakers market.
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The global circuit breakers market is expected to grow during the forecast period. The primary driver for the circuit breakers is the increase in power transmission spending due to the growing demand for the electricity grid connectivity. The global circuit breaker market is segmented on the basis of voltage level, types, application and geography. On the basis of voltage level, the global circuit breaker market is segmented into high, medium and low voltage.
On the basis of types, the global circuit breaker market is segmented into vacuum, SF6 and other circuit breakers. On the basis of application, the global circuit breaker market is segmented into non-residential building construction, residential building construction, electronics and electrical equipment, non-automotive transportation equipment, automotive and so on.
The “residential building construction” segment will post the strongest gains in the circuit breakers market. This will be a considerable improvement from the declines registered during the forecast period. Market expansion will be the result of a major turnaround in residential construction activity taking place in the developing economies and replacement work taking place in developed economies of North America and Europe.
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The residential market will continue to be dominated by circuit breakers as these products have replaced fuses in most single unit homes. On the basis of geography, the global circuit breaker market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America has been the major market for circuit breakers sharing superiority in consumption.
Asia Pacific is showing substantial growth and is expected to be the dominant markets in terms of price competitiveness and continuous expansion. Emerging countries such as China, India and Indonesia are anticipated to be one of the fastest growing markets during the forecast period. The key players of global circuit breaker market are ABB Ltd., AudioPipe, Blue Sea Systems, Buyers Products, Bussman, Connecticut Electric, Carling Technologies, Cutler Hammer, Federal Pacific, Eaton, IDEC, ITE, GE, Panduit, Murray Feiss, Powerwerx, Siemens AG, Square D, Stinger, Wadsworth, Schneider Electric, Toshiba, Alstom, and Mitsubishi Electric Corporation.
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