Circuit Breaker Market Growth driving by Increased Construction Activities Globally
Circuit breakers are vital part of power protection industry. Circuit breakers plays a significant part in electric power transmission and distribution, in consumer electronics, industrial equipment and machinery, computers, telecommunication, automobiles, and data communication circuits among others.
Currently, the market has witness compact circuit breakers requiring negligible maintenance compared to previous technologies. Circuit breakers are used to control high, medium, and low-voltage transmission systems. Circuit breakers are offered in various types such as Low Voltage Circuit Breaker (LVCB), High Voltage Circuit Breaker (HVCB) and Medium Voltage Circuit Breaker (MVCB) to cater to the demand of non-residential and residential building constructions, electronic equipment, and non-automotive transportation equipment, automotive and electrical equipment.
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The need for circuit breakers has gone up considerably with increasing concern for safety in electronic, electrical, automotive, and telecommunication equipment. The expansion and advancement of the transmission network is set to fuel the growth of the global circuit breakers market. One of the chief factors driving the market is the increased construction activities globally. Increasing raw material prices is one of the major challenges constraining the growth of market.
Traditionally, North America has been the major market for circuit breakers, sharing superiority in consumption. Of late, Asia-Pacific is showing substantial growth and is expected to be the dominant markets in terms of price competitiveness and continuous expansion. Emerging countries such as India, China, and Indonesia are anticipated to be one of the fastest growing markets in near future.
Companies dealing with circuit breaker are focusing on innovative new circuit protection equipment. Circuit breaker manufacturers are increasingly centering on reliability and space reduction in outdoor substation.
Some of the key players in the circuit breaker market include ABB Ltd, BEL Fuse Inc., Eaton Corporation, Celeasco – Communications Electrical Equipment & Supply Co. Inc., Alstom, E-T-A Elektrotechnische Apparate Gmbh, General Electric, Littelfuse Inc., G&W Electric Company, Mersen, Mitsubishi Electric, Powell Industries Inc., Schneider Electric SA, Siba, Siemens AG, Pennsylvania Breaker, S&C Electric Company, TE Connectivity, and Toshiba among others.
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