Circuit Breaker Market: Accelerating investments in power generation and enhancements for T&D networks to boost market growth

 According to the new market research report "Circuit Breaker Market by Insulation Type (Vacuum, Air, Gas, & Oil), Voltage (Medium, High), Installation (Indoor, Outdoor), End-User (Transmission & Distribution Utilities, Power Generation, Renewables, & Railways) and Region- Global Forecast to 2025", published by MarketsandMarkets™, the global Circuit Breaker Market size is expected to grow from an estimated USD 5.7 billion in 2020 to USD 7.7 billion by 2025, at a CAGR of 5.9%, during the forecast period. Growing investments in smart grid technologies to protect and control power equipment and replacement of aging infrastructure, and the need for reliable T&D networks offer high-growth opportunities for the Circuit Breaker Market.

 

The T&D utility Segment is expected to dominate in the Circuit Breaker Market

The T&D utility segment is estimated to lead the Circuit Breaker Market. Asia Pacific was the largest market for T&D Utilities end-user segment in 2019. This is attributed to the increasing demand for electricity and replacement of aging infrastructures, especially from countries such as Japan, China, and South Korea of the Asia Pacific region.

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The high voltage segment is expected to be the largest contributor in the Circuit Breaker Market.

The high voltage segment held the largest share of the circuit breaker system market in 2019. They are mostly used by different end users such as T&D utilities, large power generation plants, and railways & metros. Increasing investments in transmission and distribution networks due to the rise in demand for power and the need for an increase in the reliability of high-voltage electrical assets are expected to drive the market for this segment.

The gas circuit breaker segment is expected to grow at the fastest rate.

The insulation type segment accounted for the highest share of the Circuit Breaker Market, by insulation type during the forecast period. The market for gas circuit breaker is driven by high dielectric property and less space requirement. Asia Pacific is estimated to hold the largest share of the gas circuit breakers market, followed by Europe because of increasing investments in renewable energy.

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The Asia Pacific is expected to be the largest and fastest-growing market during the forecast period.

Asia Pacific is estimated to be the largest and fastest growing market during the forecast period. The region has been segmented, by country, into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Countries in this region are experiencing an increase in demand for power due to rapid urbanization and increase in industrialization. To meet the growing requirement for energy efficiency and continuous power supply, the State Grid Corporation of China (SGCC) plans to invest about USD 556 billion from 2017 to 2020, of which 11.1% (about USD 62 billion) would be spent on grid technologies, including circuit breaker, to accommodate a large amount of renewable energy in its grid. China managed to become the major consumer of smart grid technology because of the massive transformation taking place in the country’s energy landscape. The requirement for the smart grid is further supported by China’s focus on embracing energy efficiency and clean energy, along with the need to transform the nation’s power industry. China is expected to have more than 100 GW of installed wind capacity and a significant increase in its solar PV installations by 2020. Owing to this, the demand for circuit breaker would increase.

The key players in the Circuit Breaker Market include companies such as ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), and Eaton (Ireland).

Vacuum Interrupter Market: Increasing investments in smart grid & power distribution in developing regions

 

According to the new market research report "Vacuum Interrupter Market By Application (Circuit Breaker, Contactor, Recloser, Load Break Switch, & Tap Changer), End User (Oil & Gas, Mining, Utilities & Transportation), Rated Voltage And Region - Global Forecast To 2025", published by MarketsandMarkets™, the Vacuum Interrupter Market is projected to reach USD 3.1 billion by 2025 from an estimated USD 2.4 billion in 2020, at a CAGR of 5.1 % during the forecast period. This growth can be attributed to factors such as continued growth of construction and development activities, increasing access to electricity in developing countries, and the increasing rate of industrialization and urbanization. However, the risks associated with device malfunction and the lack of existing government policies specific to vacuum interrupters are hindering the growth of the Vacuum Interrupter Market.

The circuit breaker segment is expected to hold the largest share of the Vacuum Interrupter Market

The circuit breaker segment, by application, is estimated to be the largest and fastest-growing segment during the forecast period, as they are the main components utilized in the low and medium voltage segment. With most of the existing electrical infrastructure expected to undergo a massive revamp in the near future, the circuit breaker installations are expected to go up, ultimately boosting the Vacuum Interrupter Market in the forecast period.

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The 0– 15 kV segment, by rated voltage, is expected to be the fastest-growing market from 2019 to 2024

The 0–15 kV segment is expected to be the fastest-growing market, at a CAGR of 5.6% during the forecast period. This is supported by the fact that electrical equipment with an operational range of low to medium rated voltage is required in the electricity distribution substations and industries such as mining and oil & gas. With renewable electricity grid integration being a top concern for countries such as China and India, the maximum vacuum interrupters belonging to this rated voltage segment are expected to be in huge demand in the forecast period.

Asia Pacific: the leading Vacuum Interrupter Market

The Asia Pacific region is projected to be the largest Vacuum Interrupter Market by 2025. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hubs for vacuum interrupters. Over the past few years, this region has witnessed rapid economic development. Also, the growth of the transmission & distribution sectors in this region has resulted in an increase in the Vacuum Interrupter Market. The renewable energy generation in countries such as China, South Korea, Japan, and India, is taking place at a humongous rate, thereby driving the Vacuum Interrupter Market.

The renewable power generation is not as stable as the conventional power generation. Hence, equipment such as circuit breakers, with vacuum interrupters pre-installed, are required to connect the power generating stations to switchyards and the electrical grid. Growth in the renewable power generation is expected to be a long-term driving force for the circuit breaker market. Subsequent stable grid development programs, microgrid, energy storage, and EV charging infrastructure is further expected to propel the growth of the market in the region.

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Some of the top players in the Vacuum Interrupter Market are ABB (Switzerland), Eaton (US), Siemens AG (Germany), Shaanxi Baoguang Vacuum Electric Device Company Limited (China), and Meidensha Corporation (China).

Circuit Breaker Market to Witness Impressive Growth Worldwide with Major Players ABB, Siemens, Eaton, Mitsubishi, Toshiba, Fuji Electric, TE connectivity, Powell, Tavrida, etc.

The global circuit breaker market is projected to reach USD 8.7 billion by 2022 from an estimated USD 6.9 billion in 2017, at a CAGR of 4.9% from 2017 to 2022. Growing access to electricity in developing countries, increasing construction and developmental activities, and the rising number of renewable power generation projects are the major drivers that would trigger growth in the circuit breaker market.

Aging power infrastructure, increasing high voltage direct current (HVDC) transmission networks, and upcoming smart cities are expected to create new opportunities for circuit breaker companies. Moreover, the governments of most countries are investing in renewable energy-based power generation to meet the growing energy demand. All these factors are likely to drive the circuit breaker market during the forecast period.

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The high voltage segment is estimated to be the fastest growing circuit breaker market, by voltage, from 2017 to 2022. This segment is expected to witness growth due to rapid industrialization and urbanization. Aging power infrastructure leading to the modernization and upgradation of existing high voltage electrical grids and power plants is also a key factor driving the growth of the high voltage circuit breaker market.

Renewable are projected to be the fastest-growing power source until 2022

Renewable are one of the fastest-growing power sources as countries worldwide are investing immensely in the sector. It helps reduce carbon dioxide emissions and is increasingly capturing a larger share of the global power mix. It is used extensively in the power generation, heating and cooling, and transport sectors. The renewable segment of the circuit breaker market is estimated to grow at an above-average CAGR during the forecast period. The renewable power plants in the energy & power sectors are predominantly located in remote locations and connected to the local distribution systems. A rise in the connectivity of distributed power generation systems and renewable power generation systems to the national grid is gradually leading to the growth of the circuit breaker market.

The Asia Pacific market continues to be the fastest-growing circuit breaker market until 2022

Asia Pacific is expected to be the largest market for circuit breaker in 2022 and is projected to grow at the highest CAGR, during the forecast period due to increasing construction and developmental activities and the growing demand for electricity. It is also projected to lead during the forecast period. The growth can be attributed to the increasing investments in T&D, renewable energy, and upcoming smart city and smart grid projects in the region. The North American market is projected to be the second-fastest-growing market owing to the rising demand for revamping the existing aging power and transmission infrastructure and the continued growth of construction and developmental activities in the region.

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Some of the leading players in the Circuit Breaker Market are ABB (Switzerland), Toshiba (Japan), Siemens (Germany), Eaton Corporation (Ireland), Mitsubishi (Japan), and Schneider Electric (France).

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Circuit Breaker Market to reach a valuation of more than US$ 8 Billion by 2022

According to the new market research report "Circuit Breaker Market by Voltage (Medium Voltage, and High Voltage Circuit Breakers), End-User (Transmission & Distribution, Renewable, Power Generation, and Railways), Type (Outdoor, and Indoor), and Region - Global Forecast to 2022", published by MarketsandMarkets™, The global circuit breaker market is projected to reach USD 8.68 billion by 2022, from an estimated USD 6.85 billion in 2017, growing at a CAGR of 4.85%, from 2017 to 2022. The market in Asia Pacific was the largest in 2016 and is projected to hold the largest share by 2022, followed by the markets in North America and Europe. The growth of the circuit breaker market is driven by increasing access to electricity in developing countries, growing renewable power generation projects, and increasing construction and developmental activities.

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Aging power infrastructure, increasing high voltage direct current (HVDC) transmission networks, and upcoming smart cities are expected to create new opportunities for circuit breaker companies. Moreover, the governments of most countries are investing in renewable energy-based power generation to meet the growing energy demand. All these factors are likely to drive the circuit breaker market during the forecast period.

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The high voltage segment is estimated to be the fastest growing circuit breaker market, by voltage, from 2017 to 2022. This segment is expected to witness growth due to rapid industrialization and urbanization. Aging power infrastructure leading to the modernization and upgradation of existing high voltage electrical grids and power plants is also a key factor driving the growth of the high voltage circuit breaker market.

Asia Pacific: the leading market for circuit breaker
In this report, the circuit breaker market has been analyzed with respect to 5 regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The market in Asia Pacific led the global circuit breaker market in 2016. Increasing grid investments especially in developing economies such as China and India and plans for electrification in remote areas in countries such as Vietnam, Indonesia, and the Philippines are expected to drive the circuit breaker market in Asia Pacific. Indonesia aims to achieve a 90% electrification rate by 2025 and countries such as the Philippines and Malaysia have similar plans. Growing investments in smart grid technologies such as distribution grid automation, smart meters, and demand response systems in Japan, South Korea, and Australia, among other countries, would create opportunities for the circuit breaker market in Asia Pacific.

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The circuit breaker market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the circuit breaker market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hitachi (Japan), Toshiba (Japan), Schneider Electric (France), and Mitsubishi (Japan).

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Circuit Breaker Market to exceed $8.68 Billion by 2022

The circuit breaker market is expected to grow from an estimated USD 6.85 Billion in 2017 to USD 8.68 Billion by 2022, at a CAGR of 4.85%, from 2017 to 2022. The global market is set to witness significant growth due increasing construction and developmental activities, growing access to electricity, and the increasing number of renewable power generation projects.

Browse 70 market data Tables and 40 Figures spread through 142 Pages and in-depth TOC on "Circuit Breaker Market"
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The transmission and distribution segment is expected to hold the largest share of the circuit breaker market, by end-user, during the forecast period.

The transmission and distribution end-user segment led the circuit breaker market in 2016 and is projected to dominate the market during the forecast period. The renewable segment is expected to grow at the fastest rate during the forecast period.

The growth of the transmission and distribution segment is primarily driven by increasing investments in sub-station automation, modernization of electric grids, and smart utilities which include smart grids and smart meters. This would enhance protection by decreasing energy losses caused by the poor operational efficiency of traditional equipment. This would ultimately create new revenue pockets for the circuit breaker market during the forecast period.

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The outdoor circuit breaker segment is expected to hold the largest share of the circuit breaker market, by type, during the forecast period.

The outdoor circuit breaker segment led the circuit breaker market, by type, in 2016 and is projected to dominate the market during the forecast period. The need for high reliability and safe operation of sub-station equipment is expected to drive the outdoor circuit breaker market. Outdoor circuit breakers can operate in the toughest climates and function reliably in every kind of environment.

Asia Pacific: the leading market for circuit breakers

In this report, the circuit breaker market has been analyzed with respect to 5 regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The market in Asia Pacific led the global circuit breaker market in 2016. Increasing grid investments especially in developing economies such as China and India and plans for electrification in remote areas in countries such as Vietnam, Indonesia, and the Philippines are expected to drive the circuit breaker market in Asia Pacific. Indonesia aims to achieve a 90% electrification rate by 2025 and countries such as the Philippines and Malaysia have similar plans. Growing investments in smart grid technologies such as distribution grid automation, smart meters, and demand response systems in Japan, South Korea, and Australia, among other countries, would create opportunities for the circuit breaker market in Asia Pacific.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the circuit breaker market. The key players include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Hitachi (Japan), Toshiba (Japan), Schneider Electric (France), and Mitsubishi (Japan).

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