Global Circuit Breaker Market to Reach US$ 10.24 Billion by 2027

Circuit Breaker Market

SHERIDAN, WYOMING, UNITED STATES, January 4, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled "Global Circuit Breaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global circuit breaker market reached a value of US$ 8.27 Billion in 2021. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 10.24 Billion by 2027. A circuit breaker refers to an electrochemical switching device that is generally used for detecting a fault function. It helps to protect and control the electrical power system during excessive electrical supply that occurs due to short circuits or overload. It is usually manufactured using superior conductive materials that can withstand excessive heating, such as copper, steel, and aluminum. Additionally, it is equipped with a pair of fixed and moving metallic contacts that allow the flow of electric current into the circuit. Consequently, it aids in reducing the risks of fire hazards that happen due to equipment failure and wiring issues.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Circuit Breaker Market Trends:

The global market is primarily driven by the increasing requirement for power transmission. This is supported by rising investments by private and public firms in renewable energy resources for power generation. Along with this, the large inflow of investments by the government of numerous countries to expand the power generation capacity in order to meet the electricity requirements across remote locations as well as to renovate the grid infrastructure are propelling the market growth. Moreover, continual technological advancements across the globe are providing an impetus to the market growth. For instance, the increasing popularity of smart grids is expected to positively influence the market growth on the global level. Other factors, including rapid industrialization and extensive research and development (R&D) activities conducted by key players to introduce product variants with improved corrosion resistance, are contributing to the market growth further.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
• ABB Group
• Alstom SA
• Eaton Corporation Inc.
• General Electric Company
• Mitsubishi Electric Power Products Inc.
• Schneider Electric
• Siemens AG
• Camsco Electric Co. Ltd.
• G&W Electric Co.
• Kirloskar Electric Co. Ltd.
• Larsen & Toubro Limited
• Powell Industries Inc.
• SCHURTER Holding AG
• Sensata Technologies Inc.
• Toshiba

Breakup by Product Type:
• Indoor
• Outdoor

Outdoor circuit breakers exhibit a clear dominance in the market.

Breakup by Voltage:
• Low
• Medium
• High

Low voltage circuit breakers hold the largest market share.

Breakup by Technology:
• Air
• Vacuum
• Oil
• SF6

Air circuit breakers account for majority of the total global market.

Breakup by End Use:
• Transmission and Distribution
• Renewable
• Power Generation
• Railways

The transmission and distribution industry dominates the market.

Regional Insights:
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East and Africa

Asia Pacific currently enjoys the leading position in the market.

Key highlights of the Report:
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Other Report:

Elena Anderson
IMARC Services Private Limited
+ 16317911145
email us here

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Global Circuit Breaker Market to Reach US$ 10.24 Billion by 2027

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