"Actionable Insights to Fuel Your Growth"

Circuit Breaker Market Size, Share & COVID-19 Impact Analysis, By Voltage (Low, Medium, and High), By Installation (Indoor and Outdoor), by Rated Voltage (Up to 500V, 500V – 1kV, 1kV – 15kV, 15kV – 50kV, 50kV – 70kV, 70kV – 150kV, 150kV – 300kV, 300kV – 600kV, 600kV – 800kV, and Above 800kV) and by End-user (Industrial, Commercial, Residential, and Utility) and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI100765

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global circuit breaker market size was USD 13.99 billion in 2020 and is projected to grow from USD 15.41 billion in 2021 to USD 24.59 billion in 2028, at a CAGR of 6.9% during the forecast period. Based on our analysis, the market exhibited a decline of -12.8% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over. The global impact of COVID-19 has been unprecedented and staggering, with the product witnessing a negative demand shock across all regions amid the pandemic.


A circuit breaker is an electrical switching device that can be operated manually or automatically for protecting and controlling an electric power system. A high fault current usually flows through the device that trips the circuit during a short circuit or another type of electrical fault. This aids in protecting the electrical system from damage. It is deployed in small and medium substations, railway systems, high voltage transmission & distribution lines, and other applications to protect the electrical system.


Whenever a fault occurs, the machine detects the overcurrent & triggers the mechanism, which results in the moving contact losing touch with the fixed contact, thereby opening the circuit. Arcing may occur when the two contacts lose touch due to the high voltage difference between the fixed and moving parts. Hence, growing safety measures and awareness for protecting electrical systems drive the demand for breakers in the global market.


Significant Downfall in Power Infrastructure Development to Impede Market Development 


COVID-19 is spreading continuously across the globe. Almost every country is at different stages of the pandemic getting reported infected cases. Countries such as Russia, Italy, Spain, and Turkey are seeing a recent acceleration. India, too, has experienced a significant increase in the number of cases since the beginning of April and has evolved its response strategy, including extending the nationwide lockdown. COVID 19 has affected the power industry, and a drop occurs in the investment power industry.


The widespread effect of COVID-19 has resulted in the total shutdown of businesses in China and India, leading to reduced spending on household appliances by consumers. With more countries announcing lockdown to stop the COVID-19 spread, the utility spending for investing in grid projects has declined rapidly. Additionally, sluggish demand due to a decrease in consumer spending across various applications has impacted global demand. However, the market is expected to gain momentum due to heavy investments in developing energy infrastructures from emerging economies.


LATEST TRENDS


Request a Free sample to learn more about this report.


Increasing Investments in Industrial Sector to Surge Demand


The increasing investment in the industrial sector and the growing investment to leverage the industrial infrastructure increase the demand for electrical switching devices in the global market. These devices are predominantly used in the industrial and commercial sectors. 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. Hence, the increasing investment from the industrial sector necessitates the deployment of these devices in various end-use and manufacturing industries.


DRIVING FACTORS


Electrification Initiatives to Propel the Adoption of Circuit Breaker Systems


Several developing countries are running electrification programs to connect the rural areas to the grid. Other countries are further trying to combine different grid zones to form a mega-countrywide grid. Such drivers have boosted the market outlook for utility-scale switches. The increasing availability of electricity is propelling fast-paced infrastructure development, leading to the availability of abundant electrical energy. For instance, on June 10, 2021, The World Bank has sponsored over USD 2.3 billion in infrastructure and reforms in support of the West Africa Power Pool (WAPP), which is seen as critical to ensuring universal access to power in the 15 countries of the Economic Community of West African States (ECOWAS) by 2030. Hence, the adoption of electrical switching devices for safe and reliable operation of gadgets and devices is driving the demand for infrastructure projects globally. This factor is expected to bode well for the circuit breaker market growth in the forthcoming years.


Increasing Adoption of Electrical Safety Regulations to Augment Growth


The breakers have become a mandatory part of electrical networks in residential and commercial buildings, industries, and utility-scale grids. Every home, office, and others, have an electrical switching deviceinstalled because of rapidly increasing urbanization and modernization, the breakers have become an essential part of every structure. Frequent amendments such as adhering to strict compliance of test procedures for breakers and switchgear used in electrical power distribution systems. Some of the heavy load equipment requires the adoption of individual circuit breakers for safe and reliable operation. Such a regulatory scenario has positively influenced the market dynamics of breaker market sales.


RESTRAINING FACTORS


Increasing Competition from the Unorganized Sector to Hinder Market Growth


The increasing investment for advancement in technology for breaking the circuit has enabled the major players to compete in the global market. Competitive pricing strategy among the small competitors and rising competition from the unorganized players to fulfill the demand from industries such as manufacturing, construction, transportation, and processing is likely to act as a major factor restraining the market's growth during the forecast period.


SEGMENTATION


By Voltage Analysis


To know how our report can help streamline your business, Speak to Analyst


Medium Voltage Circuit Breakers to Have Largest Market Growth


Based on voltage, the market is classified into low voltage, medium voltage, and high voltage. Low voltage breakers are increasingly used in residential and commercial applications. The medium voltage breakers are used more in industrial, infrastructural, and utility-scale applications. The medium-scale breaker applications have the most extensive applications and are expected to show significant market growth.


The high voltage automatically operated electrical switch are used in utility-scale applications and rarely in some industries. These breakers have been gaining traction with the advancement of electrical technology. The market size of high voltage breakers is increasing due to the introduction of high voltage DC cables.


By Installation Analysis


Outdoor Segment to Hold a Dominant Market Share


Based on installation, the market is segmented into indoor and outdoor. Majority of the breakers installed are outdoor automatically operated electrical switch. The market size of outdoor breakers is almost double that of indoor breakers. It is used in switchgear assembly, which is majorly used outdoors for utility-scale applications. Few industrial machinery and equipment require outdoor breakers. Indoor breakers are used majorly in residential, commercial, and industrial breakers.


By Rated Voltage Analysis


15-50kV Rated Voltage Segment is Dominating the Market


Based on rated voltage, the market is segmented into 500V, 500V – 1kV, 1kV – 15kV, 15kV – 50kV, 50kV – 70kV, 70kV – 150kV, 150kV – 300kV, 300kV – 600kV, 600kV – 800kV, and Above 800kV. The breaker having a rated voltage less than 1kV is in the low voltage category. Electrical switching devices with a rated voltage between 1kV to 70kV are in the medium voltage category. Breakers with a rating capacity of 15 – 50kV dominate the market share due to a wide application in commercial projects and industrial applications. Breakers having rated voltage above 70kV are in the high voltage category. Low-rated voltage and medium rated voltage are generally used in residential and industrial end-user, which drives the demand for electrical switching devices in the global market.


By End-user Analysis


Increasing Adoption in Industrial Applications to Promote Growth


The market is segmented into residential, commercial, industrial, and utility-based on end-user. Residential end-users use miniature circuit breakers (MCB) or molded case circuit breakers. Commercial structures also use similar types of breakers due to higher rated voltage and current. Both commercial and residential buildings use majorly low voltage breakers. The use of elevators and escalators in residential and commercial buildings requires medium voltage breakers.


Medium and low voltage breakers are extensively used in the industrial sector. The safety of industrial machinery and equipment is dependent on breakers. Air circuit breakers (ACB) and vacuum circuit breakers (VCB) and MCB and MCCB, are used in industrial applications. The electric utility requires the use of all voltage range of breakers. Majorly medium and high voltage switching devices are used for utility applications. Due to environmental concerns, SF6 circuit breakers are losing popularity in utility-scale applications, and alternative for SF6 based automatically operated electrical switch is under research, development, and demonstration phase.


REGIONAL INSIGHTS


Asia Pacific Circuit Breaker Market Size, 2020 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market has been analyzed across five key regions: North America, Asia Pacific, the Middle East & Africa, Europe, and Latin America. 


The Asia Pacific region currently holds the largest market share and is anticipated to dominate the global market during the circuit breaker market forecast period. The growth of the region is attributable to the increasing infrastructural development, commercial projects, and industries. Asia Pacific region is the manufacturing hub across the globe, and a variety of electrical switch are used in every industrial and manufacturing unit. A growing number of manufacturing and industrial trip units in the Asia Pacific region is expected to boost the demand of this market in the region.


Breakers are further used in railways, metros, commercial centers, bullet trains, IT hubs, and others, which require a stable and reliable electricity supply. Rapid urbanization has increased the demand for electrical switch. The increase in power generation plants and power transmission infrastructure has increased the demand for automatically operated electrical switch. China, the Republic of South Korea, Japan, India, are some of the leaders in the technology and production of these breakers globally.


Europe and North America are expected to experience steady growth in the global market. The modernization and automation of existing industries in these regions are projected to boost the market. Increasing investments in developing infrastructure have helped the market to grow in Europe and North America.


Africa has the highest potential for the growth of the market. The rapid industrialization and urbanization of the African continent will propel the market in the coming years. The Middle East, Europe, and North America are enriched with oil and gas platforms provided with direct high voltage supply cables that use electrical switch. The offshore wind production units worldwide use high voltage cables to feed into the grid on the mainland. Hence, the growing industrial investment and rapid urbanization, drive the demand for in the global market.


KEY INDUSTRY PLAYERS


Innovative Product Launches by Major Companies to Consolidate Their Market Positions


The market is consolidated owing to the strong product portfolio and remarkable distribution network of major companies in developed and emerging countries. ABB, GE, Schneider Electric, Eaton, and Mitsubishi Electric Corporation currently holds a major market share in 2020. These players are constantly focusing on new product development and merger & acquisitions in the market. For instance,



  • In January 2020, Siemens acquired C&S Electric, a manufacturer of electrical and power electronic equipment, to cater to the growing need for electrification products. The scope of the acquisition included the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power bus bars, and protection and metering devices businesses.

  • In September 2020, Eaton Cummins Automated Transmission Technologies announced the expansion of the Endurant Automated Transmission lineup with the launch of the Endurant XD series. The series is an high-performance automated transmission designed for on-highway applications, such as double and triple trailer trucks, and severe-duty on/off-highway applications like dump and logging trucks.


Circuit breakers offer a secure and reliable power supply to maintain the continuity of supply. This factor is projected to lead to the healthy growth of the market by 2028. The other key players, such as Super Electrical Co, Roopal Automation Pvt. Ltd., and Square D, have entered the market for providing innovative electrical switching devices to end-users.


LIST OF KEY COMPANIES PROFILED:



  • ABB (Switzerland)

  • General Electric (U.S.)

  • Schneider Electric (France)

  • Eaton (Ireland)

  • Siemens AG (Germany)

  • Mitsubishi Electric Corporation (Japan)

  • Larsen & Toubro Limited (India)

  • CG Power and Industrial Solutions Limited (India)

  • Kirloskar Electric Company (India)

  • Camsco Electric (Taiwan)

  • BCH ELECTRIC LTD (India)

  • Salzer Group (India)

  • Atom Power, Inc. (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • September 2020 - Siemens launched the type SDV-R non-arc-resistant and type SDV-R-AR arc-resistant medium-voltage outdoor distribution electrical switching devices designed for renewable energy applications, such as wind power generation.

  • August 2020 - Ideal Power Inc. signed a partnership worth USD 1.2 million with Diversified Technologies, Inc. to demonstrate B Tran enabled high efficiency direct current electrical switching device.

  • March 2020 - Phoneix Contact, a global manufacturer of electrical and cable accessories, introduced a thermomagnetic circuit breaker that is useful for large surge protection in electrical MCC panels and long cable paths.


REPORT COVERAGE


An Infographic Representation of Circuit Breaker Market

To get information on various segments, share your queries with us



The market research report presents a comprehensive industry assessment by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches have been adopted to make meaningful assumptions and views to formulate the market research report. Furthermore, the report covers a detailed analysis and information as per market segments, including voltage, installation, rated voltage, end-user, and regions, helping our readers to get a comprehensive overview of the global industry.


REPORT SCOPE & SEGMENTATION






















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



  2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



By Voltage, By Installation, By Rated Voltage, By End-user, and By Region



 


Segmentation



By Voltage  



  • Low Voltage

  • Medium Voltage

  • High Voltage  



By Installation



  • Indoor

  • Outdoor  



By Rated Voltage



  • Upto 500V

  • 500V – 1kV

  • 1kV – 15kV

  • 15kV – 50kV

  • 50kV – 70kV

  • 70kV – 150kV

  • 150kV – 300kV

  • 300kV – 600kV

  • 600kV – 800kV

  • Above 800kV



By End-user



  • Residential

  • Commercial

  • Industrial

  • Utility



By Region



  • North America (By Voltage, By Installation, By Rated Voltage, By End-user, By Country)

    • U.S. (By End-user)

    • Canada (By End-user)



  • Europe (By Voltage, By Installation, By Rated Voltage, By End-user, By Country)

    • Germany (By End-user)

    • U.K. (By End-user)

    • France (By End-user)

    • Italy (By End-user)

    • Spain (By End-user)

    • Russia (By End-user)

    • Rest of Europe (By End-user)



  • Asia Pacific (By Voltage, By Installation, By Rated Voltage, By End-user, By Country)

    • China (By End-user)

    • Japan  (By End-user)

    • India (By End-user)

    • Australia (By End-user)

    • Southeast Asia (By End-user)

    • Rest of Asia Pacific (By End-user)



  • The Middle East & Africa (By Voltage, By Installation, By Rated Voltage, By End-user, By Country)

    • GCC (By End-user)

    • South Africa (By End-user)

    • Rest of the Middle East & Africa (By End-user)



  • Latin America (By Voltage, By Installation, By Rated Voltage, By End-user, By Country)

    • Brazil (By End-user)

    • Mexico (By End-user)

    • Rest of Latin America (By End-user)





Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 13.99 billion in 2020 and is projected to surpass USD 24.59 billion by 2028.

In 2020, the Asia Pacific market stood at USD 5.39 Billion.

The market will grow at a CAGR of 6.9% during the forecast period (2021-2028)

The medium voltage segment is anticipated to hold a significant share and dominate the market during the forecast period.

An increase in electrification initiatives and electrical safety regulations is the major factor driving the market growth.

GE, Schneider Electric, Eaton, Mitsubishi Electric Corporation, Siemens AG, and CG Power and Industrial Solutions Limited are some of the major players operating in the global market.

The Asia Pacific dominated the market in terms of share in 2020.

The product works for opening and closing the circuit under fault conditions. It is deployed in power plants, industries, and residential and commercial applications where there are huge fire or explosion hazards possibilities.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Jan, 2022
  • 2020
  • 2017-2019
  • 210

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X