Circuit Breaker Market worth $8.7 Billion by 2022

The report "Circuit Breaker Market by Voltage (Medium and High), End-User (Transmission and Distribution Utilities, Renewables, Power Generation, and Railways), Type (Outdoor and Indoor), and Region - Global Forecast to 2022", 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. This growth can be attributed to the increasing access to electricity, growth in renewable energy generation projects, and continuous growth of construction and developmental activities.

Browse 70 market data Tables and 40 Figures spread through 147 Pages and in-depth TOC on "Circuit Breaker Market by Voltage (Medium and High), End-User (Transmission and Distribution Utilities, Renewables, Power Generation, and Railways), Type (Outdoor and Indoor), and Region - Global Forecast to 2022"

The medium voltage segment is projected to lead the circuit breaker market from 2017 to 2022

The medium voltage circuit breaker segment is projected to have the largest market share during the forecast period due to increasing investments in power transmission infrastructure in the Asia Pacific region, particularly in countries, such as China and India. The high voltage circuit breaker segment is expected to register the highest growth rate during the forecast period. High voltage circuit breakers are used majorly in manufacturing and process industries and transmission and distribution utilities.

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

Renewables 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 renewables 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

In 2016, the global circuit breaker market was dominated by the market in Asia Pacific 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.

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). Contracts & agreements and new product launches were the most followed growth strategies by the industry players.

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