03 October 2019
Visiongain’s new report the Circuit Breaker and Fuse Market Report 2020-2030: Forecasts by Voltage (High, Medium, Low), By Type (Air, Vacuum, Oil, Others), By Application (Construction, Transport, Industrial, Power Generation), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and profiling of leading international and domestic companies. The global circuit breaker and fuse market is expected to be more than USD 8 billion in 2020 and is anticipated to reach more than USD 13 billion by 2030 at a CAGR of 6.0%.
Increasing the need to upgrade to efficient networks along with renewable energy connectivity and increasing demand for advanced equipment in the electronics, automotive and telecommunications segments are key factors contributing to the growth of the Circuit Breaker & Fuse market. Increased safety concerns associated with short circuits and power fluctuations are expected to propel market demand over the coming years.
The global market will be driven by operational security and growing measures to integrate a reliable and sustainable electrical infrastructure. Developing Asian and African economies were prone to frequent power lags and network failures, resulting in huge potential for deployment of efficient electrical products in the regions. Increasing measures to curb fire hazards, failures in electrical supply and relevant operational dereliction will also positively affect the dynamics of the industry.
Continuous rural electrification drives coupled with regulatory proximities towards the integration of distributed generation and independent renewable networks will increase the market size of the low voltage circuit breakers. Introduction of smart product portfolios including ACB's, MCB's, MCCB's and related circuit protection equipment in line with protocols for energy efficiency has further rewarded the business landscape. In 2017, a Swedish company, Manetos Lab, proclaimed the development of its digital circuit breaker with the aim of using direct replacements for electromechanical products.
The rise in infrastructure investments subject to omnipresent residential & commercial establishments will drive the size of the power distribution circuit breaker industry. The refurbishment and retrofitting of aging electrical infrastructure together with the rapid integration of smart control and monitoring distribution units will increase the demand for the product. The Serbian government proposed plans to modernize the traditional Serbian power distribution infrastructure in coalition with Chinese regulators. Regulators have further proclaimed in 2017 that investment flows will hover over USD 6 billion, resulting in nationwide infrastructure enhancement.
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