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Circuit Breaker Market Size, Share & Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By End User (Residential, Commercial, Industrial, and Utility), By Installation (Indoor and Outdoor), By Rated Voltage (Upto 500V, 500V-1kV, 1kV-15kV, 15kV-50kV, 50kV-70kV, 70kV-150kV, 150kV-300kV, 300kV-600kV, 600kV-800kV, and Above 800kV), and Regional Forecast, 2019-2026

Region : Global | Published Date: Nov, 2019 | Report ID: FBI100765| Status : Published

 

KEY INDUSTRY INSIGHTS

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The global circuit breaker market size was valued at USD 15.09 billion in 2018 is projected to reach USD 25.75 billion by 2026, exhibiting a CAGR of 6.97% during the forecast period.


Electricity is one crucial need for the growth of humankind. Historically, electricity has played an essential role in the first industrial revolution, and it will be crucial for technological modernization and advancement of humans in the future. The demand for electricity is increasing on account of the growing population and electricity consumption per capita.


The advancement in technology has increased the use of electrical appliances and gadgets. Although the usage of electricity is increasing, it poses a potential risk for human life and infrastructure. Any electrical accident can significantly harm everything in the circuit. To reduce the effect of an electrical accident and isolate the accident area from the remaining components of the circuit, different types of circuit breakers are used in the electrical networks.        


Circuit breakers consist of moving and fixed contacts. These contacts touch each other and conduct current in normal operating conditions when a circuit breaker is closed. When the circuit breaker is closed, the fixed and moving contacts touch each under the effect of a mechanism.


Whenever a fault occurs, the mechanism detects the overcurrent & triggers the mechanism, which results in moving contact losing touch with the fixed contact, thus opening the circuit. When the two contacts lose touch, arcing may occur due to the high voltage difference between the fixed and moving parts.


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To suppress such arcing, the two fixed and moving contacts are immersed in a dielectric or insulating medium for quenching the arc. Oil, air, SF6, vacuum, etc. are used as quenching medium. Circuit breakers can be used with both alternating current (AC) and direct current (DC). Some of the circuit breakers require manual operation to close the circuit.            


MARKET DRIVERS


“Electrification Initiatives Will Propel The Adoption Of Circuit Breaker Systems”


Several developing countries are running electrification programs to connect the rural areas to the grid. Few countries are also trying to combine different grid zones to form a mega-countrywide grid. Such drives have boosted the market outlook for utility-scale circuit breakers. With an increase in the availability of electricity, infrastructure development is easier with an abundance of electrical energy. Infrastructure projects require the use of circuit breakers for safe and reliable operations of gadgets and devices.    


 “Electrical Safety Regulations Will Augment The Growth Of The Global Circuit Breaker Market”


The circuit breaker has become a mandatory part of electrical networks in residential buildings, commercial buildings, industries, and utility-scale grids. Every home, office, etc. has a circuit breaker installed. As a result of rapidly increasing urbanization and modernization, circuit breakers have become an essential part of every structure. Some of the heavy load equipment requires the use of individual circuit breakers for safe and reliable operation. Such regulatory scenario has positively influenced the market dynamics of circuit breaker sales.         


SEGMENTATION


By Voltage Analysis


“Medium Voltage Circuit Breakers Have The Largest Market Growth During The Given Forecast Period”


Based on voltage, the circuit breaker market is classified in low voltage, medium voltage, and high voltage. Low voltage circuit breakers are used more in residential and commercial applications. The medium voltage circuit breakers are used more in industrial, infrastructural, and utility-scale applications.


The high voltage circuit breakers are used in utility-scale applications and rarely in some industries. The medium-scale circuit breaker applications have the most extensive applications and are expected to show significant market growth. The high voltage circuit breakers have been gaining traction with the advancement of electrical technology. The market size of high voltage circuit breakers is increasing as a result of the introduction of high voltage DC cables.     


By End User Analysis


“Circuit Breakers Are Extensively Used In Industries And Is Expected To Have A Positive Market Outlook During The Given Forecast Period”


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


The safety of industrial machinery and equipment is dependent on circuit breakers. Air circuit breakers (ACB) and vacuum circuit breakers (VCB) along with MCB and MCCB are used in industries. Electric utility requires the use of all voltage range of circuit breakers. Majorly medium and high voltage circuit breakers are used for utility applications. Due to environmental concerns, SF6 based circuit breakers are losing popularity in utility-scale applications, and alternative for SF6 based circuit breakers is under research, development, and demonstration phase.


By Installation Analysis


 “Increasing Electrification Has Augmented The Growth Of Outdoor Circuit Breaker Market”


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


By Rated Voltage Analysis


 “Circuit Breakers Rated Between 15-50kv Dominate The Circuit Breaker Market”


Based on rated voltage, the circuit breaker market is segmented in Upto 500V, 500V- 1kV, 1kV-15kV, 15kV-50kV, 50kV-70kV, 70kV-150kV, 150kV-300kV, 300kV-600kV, 600kV-800kV, and Above 800kV. The circuit breaker having a rated voltage less than 1kV is in the low voltage category.


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Circuit breakers having rated voltage between 1KV to 70kV are in the medium voltage category. Circuit breakers having rated voltage above 70kV are in the high voltage category.    


REGIONAL ANALYSIS


Asia-Pacific region currently is increasing its circuit breaker market size and is anticipated to dominate the global circuit breaker market growth during the given forecast period. The growth of the region can be seen with the increase in infrastructural structures and industries. Asia-Pacific region is the manufacturing hub of the world, and a variety of circuit breakers are used in every industrial and manufacturing unit. High increase in the number of manufacturing and industrial units has boosted demand for circuit breakers.


Railways, metros, bullet trains, IT hubs, commercial centers, etc. require the use of a circuit breaker for stable and reliable electricity supply. Rapid urbanization has increased demand for circuit breakers. The increase in the number of power generation plants and transmission infrastructure has also increased sales of circuit breakers. China, Republic of South Korea, Japan, India, etc. are the world leaders in circuit breaker production and technology.


Asia-Pacific Circuit Breaker Market Size, 2018

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Europe and North America are expected to provide steady growth for the circuit breaker market. The modernization and automation of existing industries in these regions are expected to give a boost to the market. Growth of infrastructure is extremely fast and 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 African continent will boost the market in the next 20 years. The oil and gas platforms are provided with direct high voltage supply cables in the Middle-East, Europe, and North America. Such high voltage cables require use of circuit breakers. The offshore wind production units worldwide use high voltage cables to feed into the grid in the mainland.


INDUSTRY KEY PLAYERS


“Innovative Circuit Breaker Solutions From Market Players Such As GE, ABB, Schneider Electric, Etc., Has Ensured The Growth Of The Circuit Breaker Market”


The circuit breaker market is highly fragmented with the presence of lots of competitive players around the world.


List of Key Company Profiles



  • ABB

  • GE

  • Schneider Electric

  • Eaton

  • Mitsubishi Electric Corporation

  • Siemens AG

  • Larsen & Toubro Limited

  • CG Power and Industrial Solutions Limited

  • Kirloskar Electric Company

  • Camsco Electric

  • BCH ELECTRIC LTD

  • Salzer Group

  • Atom Power, Inc.


REPORT COVERAGE


The increased rural electrification drives & need for electrical safety devices in buildings, industries, etc.  and new product launches based on advanced technologies is expected to increase the global circuit breaker market growth. 


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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global market, such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key retail industry trends, competitive landscape and company profiles.


Report Scope & Segmentation














































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Voltage



  • Low Voltage

  • Medium Voltage

  • High Voltage



By End User



  • Residential

  • Commercial

  • Industrial

  • Utility



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 Geography



  • North America (U.S. and Canada)

  • Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Turkey, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (GCC, South Africa and Rest of MEA)



 


INDUSTRY DEVELOPMENT



  • In May 2019, Underwriters Laboratories (UL) in the United States, the governing standard for consumer safety has listed first and only digital solid-state circuit breaker invented by Atom Power.

  • In May 2019, Eaton has unveiled its latest innovation in circuit protection technology with the release of the Power Defense™ molded case circuit breakers.

  • In February 2019, US DOE’s ARPA-E awarded USD 35 million for 12 new projects to support medium-voltage devices for grid, industry, and transportation. The selected projects are part of ARPA-E’s program ‘Building Reliable Electronics to Achieve Kilovolt Effective Ratings Safely’ (BREAKERS), as well as the latest OPEN+ cohort ‘Kilovolt Devices’. The eight BREAKERS projects will work to develop new direct current (DC) devices to better manage power by eliminating electrical faults, improving efficiency and reaction times, and potentially enabling greater proliferation of energy storage and renewable resources


Frequently Asked Questions

In 2018, the Circuit Breaker market was valued at USD 15.09 billion.

In 2026, the circuit breaker market was valued at USD 25.75 billion.

Growing at a CAGR of 6.97%, the circuit breaker market will exhibit steady growth in the forecast period.

In 2018, the circuit breaker market of Asia-Pacific region was valued at USD 6.67 Billion.

The medium voltage circuit breakers segment is expected to dominate the market during the forecast period.

The electrification initiatives will propel the adoption of circuit breaker systems. On the other hand, increasing raw material prices act as a major restraint for the circuit breaker market.

General Electric, ABB, Schneider Electric, Eaton are among the top players in the market.

The strict safety rules and regulations for modern electrical circuits and networks will augment the growth of the global circuit breaker market.

Circuit Breaker Market  Size, Share and Global Industry Trend Forecast till 2026
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