Circuit Breaker Market to Soar as Demand for Energy Efficiency Surges, says Market.us

Circuit breakers will continue to grow in importance over the projected period. These devices protect against power fluctuations that can be caused by overloads, overvoltage, short circuits and other issues. This can cause damage to equipment including residential appliances, IT products and industrial machinery. The device optimizes energy consumption by minimizing the equipment’s electrical load and controlling it. This will lead to an increase in demand for these gadgets over the forecast period.

The domain growth is expected to be driven by factors such as the rising demand for efficient networks and access to renewable energy sources. Due to increasing safety concerns about short circuits, damage from power fluctuations, and electronics, the telecommunications, automotive, and electronics industries will all require more creative equipment.

According to market.us, “The Circuit Breaker Market size is expected to be worth around USD 30.48 Billion by 2032 from USD 17.45 Billion in 2021, growing at a CAGR of 5.2% during the forecast period from 2022 to 2032.”

Anurag Sharma, a senior research analyst at Market.us, said, “The forecast period will see the market grow due to the increasing demand for upgraded networks and renewable energy connectivity. There will also be a rise in the demand for high-tech equipment in electronics, automobile and telecommunication. The market for circuit breaker and fuse is also expected to grow due to the increased access to electricity in emerging markets.”

However, the strict safety and HTML6 circuit breakers regulations and rising competition from the unorganized circuit breaker sector are expected to hinder the market’s growth over the forecast period.

The International Energy Agency (IEA) estimates that the global total investment in renewables is expected to reach USD 281 billion by 2020. In 2018, global investments in renewable power in the power sector were USD 308 billion. A dedicated protection system is required for renewable sources like photovoltaic or wind generators. 

The circuit breaker connects power generating stations to switchyards, and the electrical grid. It is an essential component of any electrical system. It regulates the power supply and protects the power system. The market for renewable generation has grown, which in turn has driven the global market.

The market for circuit breaker and fuses is segmented based on voltage, application, as well as geographic region. The market by voltage comprises low voltage, medium voltage, and high voltage. By applications, the market includes power generation, power distribution, construction, transport, and other. There are huge opportunities in the market for circuit breakers & fuse due to smart city projects that have growing distribution and transmission power lines.

The market segment for medium voltage circuit breakers is driven by growing demand for medium voltage fuse in transformers, T&D network, circuit and motor protection, as well as industrial applications and renewable power generation and distribution. These circuit breakers can be made from an alloy of copper or silver or tin and work well with transformers and distribution networks.

In the past few years, circuit breakers have seen a significant rise in demand in countries like Brazil, India, Indonesia, and Indonesia. The large investments in housing, water supply, roads, airport development and ports are driving this increase in demand. In commercial and residential construction projects, circuit breakers and fuse are used.

Recent Developments

• Siemens introduced the SDV-R, non-arc-resistant, and SDV-R–AR, arc-resistant medium voltage outdoor distribution circuit breakers. These are intended for renewable electricity applications such as wind power generation.
• C&S Electric was a manufacturer of electronic and electrical equipment that Siemens purchased in January 2020 to meet the increasing demand for electrification products.