ABB (Switzerland) and Siemens (Germany) are leading players in Circuit Breaker Market
The projected global circuit breaker market is expected to reach USD 8.6 billion by 2028, growing at a compound annual growth rate (CAGR) of 5.5% from the estimated value of USD 6.5 billion in 2023. Several key factors drive this market growth, including increased investments in power generation, particularly from renewable energy sources. There is also a rising global demand for secure and reliable power supply, along with investments in capacity additions and improvements in transmission and distribution (T&D) networks. Additionally, the growth of the railways sector is contributing to the expansion of the circuit breaker market.
Prominent players in the circuit breaker market comprise ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), and Eaton (Ireland). These companies have implemented various strategies such as product launches, contracts & agreements, collaborations, partnerships, and mergers & acquisitions between January 2019 and July 2023. Among these strategies, contracts & agreements were the most frequently employed by the market players.
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ABB is a renowned provider of power and automation technologies, specializing in robotics, process automation, automation products, power systems, and power products. The company offers a comprehensive range of circuit breakers designed for various applications in segments such as transmission and distribution, railways, and power generation. ABB operates through four business segments: Electrification, Motion, Industrial Automation, and Robotics & Discrete Automation. Under the Electrification Products segment, ABB offers circuit breakers, along with automation and services for distribution and industrial solutions, providing control, protection, and optimization of assets within electrical infrastructures. The segment also encompasses low and medium voltage control and protection products. ABB places a strong emphasis on continuous innovation, resulting in the development of advanced circuit breakers equipped with features like digital monitoring, remote control, and fault detection. To further strengthen its market presence and improve its product portfolio, the company actively engages in strategic collaborations and acquisitions.
Siemens is a well-known manufacturer of engineering solutions for automation and control, power, transportation, and medical diagnosis. The company operates through six business segments: Digital Industries, Smart Infrastructure, Gas and Power, Mobility, Siemens Healthineers, and Siemens Gamesa Renewable Energy. Siemens provides a wide range of products and services catering to various industries and end-user sectors. Under the Gas and Power business segment, Siemens offers solutions for condition monitoring & diagnostics, modernizations & upgrades, remote monitoring, and lifetime extensions. The portfolio includes high-voltage switchgear and components, power transformers, HVDC products, grid access solutions, and transmission services. In 2020, Siemens acquired C&S Electric to strengthen its presence in electrification products, specifically in low-voltage switchgear components, panels, power busbars, and protection and metering devices businesses in India.
Related Reports:
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 2028
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