Circuit Breaker Market Report
RA00072
Circuit Breaker Market, by Voltage (High, Medium, Low), by Installation (Outdoor, Indoor), by End-Use Industry (Commercial, Residential, Industrial, Others) Regional Analysis (North America, Europe, Asia-Pacific, LAMEA) Global Opportunity Analysis and Industry Forecast, 2019–2026
Update Available On-Demand
The global circuit breaker market forecast will be $21.1 billion by 2026, increasing from $12.4 billion in 2018 at a CAGR of 6.9%.
Circuit Breaker Market Synopsis
Rapid growth in renewable power generation and the increasing use of internet of things (IOT) based circuit breaker across the globe are expected to accelerate the growth of the circuit breaker market.
However, stringent safety rules & regulations against greenhouse emission might be the restricting factors for the market.
According to the regional outlook, the North America market for circuit breaker is anticipated to have lucrative opportunities by generating a revenue of $5.6 billion by 2026, with a CAGR of 7.6% during the review period.
Circuit Breaker Market Outlook:
Circuit breaker is also called as the automatic electrical switch that functions when a fault is detected. There are multiple sizes available in circuit breakers that vary from large switchgear to small devices. The main purpose of using circuit breaker is to prevent a fault from happening. A circuit breaker mainly consists of components such as terminals, actuator mechanism and thermal magnetic strip.
Market Drivers:
Rapid growth in the renewable energy adoption across the globe coupled with growing demand for new residential projects is expected to boost the Global Circuit Breaker Market.
Enormous growth in renewable power generation is one of the significant factors for the growth of the circuit breaker market. For instance, the world has produced around 5.9 TWh of renewable energy by the end of 2016; which represents about 5 to 6-fold major growth since the 1960s. Moreover, increase in the residential projects and industrialization along with rapid growth in construction & developmental activities across the globe is anticipated to foster growth of global circuit breakers market.
Market Restraints:
Legal limits against green-house emission and competition among existing unorganized sector will obstruct the Circuit Breaker market growth.
The SF6 circuit breaker is identified as a greenhouse gas emitter; thus, safety rules & regulation is imposed on this breaker in many countries. Moreover, rise in competition from the unorganized sector of the circuit breaker is also one of the major factors anticipated to restrain the growth of circuit breaker market.
Market Opportunities:
Growing use of IOT based circuit breaker all over the globe is creating global opportunities for Circuit Breaker industry
IOT based circuit breaker monitoring & control is expected to boost the growth of circuit breaker market. Online platform of monitoring as well as controlling of operational parameters of the distribution circuit breaker can offer more useful information about the status of circuit breakers. IoT embedded circuit breaker devices will also help identify major problems before any failure which may result in a better reliability and massive cost savings. Moreover, it will monitor and control the load of the substation regularly and that information is transferred to the control room using the Wi-Fi. These IoT based technological innovations can create enormous opportunities for the growth of circuit breaker market.
Circuit Breaker Market, by Voltage:
Low Voltage segment will register a revenue of $6.3 billion by 2026 growing at healthy CAGR of 7.2%
Source: Research Dive Analysis
Low voltage segment is the fastest growing segment, registering a revenue of $3.6 billion in 2018, and is anticipated to cross $6.3 billion, during the forecasted period. This growth is significantly due to its major use in commercial and residential application. Also, multinational establishments such as ABB are investing more into R&D of low voltage circuit breakers which can majorly boost the growth of low voltage segment.
High voltage circuit breaker market size segment generated a revenue of $6.8 billion in 2018, and is projected to surpass $11.7 billion by 2026, mainly due to technological advancements in switchgears. These switchgears mainly consist of devices associated with power system control and circuit breakers for reliable and continuous supply of electricity.
Circuit Breaker Market, by Installation:
Outdoor segment will register revenue of $8.4 billion by 2026 growing at healthy CAGR of 7.1%
Source: Research Dive Analysis
Indoor segment will register a revenue of $12.8 billion by 2026 growing at healthy CAGR of 6.8%, during the forecasted period. The Indoor circuit breaker segment held the largest market share and is projected to dominate the market during the forecast period owing to lower cost maintenance and protection that it provides against severe environmental conditions. Moreover, indoor voltage circuit breaker mainly offers services in power plant projects, mineral enterprises and substations for control & protection. Outdoor segment will register revenue of $8.4 billion by 2026 growing at healthy CAGR of 7.1%.
Circuit Breaker Market, End-Use Industry:
Commercial segment will generate revenue of $6.6 billion by 2026 growing at healthy CAGR of 7.2%
Source: Research Dive Analysis
Commercial segment is the fastest growing segment and it has generated a revenue of $3.7 billion in 2018, and is anticipated to cross $6.6 billion, during the forecasted period. Commercial segment is expected to grow at the highest CAGR, during the forecast period. Commercial building surfaces with tunable optical properties, improved software for optimizing commercial building operation, and interoperable commercial building communication systems are anticipated to boost the circuit breaker market for commercial segment. Moreover, increasing construction of commercial projects coupled with economic development in emerging countries and growing population worldwide are factors projected to drive the growth of global market.
Circuit Breaker market share for residential segment is expected to grow at a CAGR of 6.7% by generating a revenue of $6.9 billion by 2026.
Circuit Breaker Market system, by Region:
North America region will have lucrative opportunities for the market investors to grow over the coming years
Circuit Breaker market share for North America is anticipated to rise at a CAGR of 7.6% by generating a revenue of $5.6 billion by 2026. North America has a prominent share in the Circuit Breaker market, throughout the projected period. This is significantly because of renewable energy power projects are rapidly-growing projects in the US, increasing 100% from 2000 by the end of 2018. In addition, US based companies are focusing more on production modernization (Industry 4.0) and creation of innovation in the existing companies which is anticipated to foster the growth of circuit breaker market in north America region.
Asia-Pacific region has the highest market share for circuit breaker market across the globe.
Asia-Pacific Circuit Breaker Market size will generate a revenue of $8.0 billion by 2026. Currently, many Asian countries, such as China, have a highest share of the circuit breaker market in this region. The construction market in China is the largest circuit breaker industry across globe and the supportive rules & regulations from the government of China offer fair opportunities for construction and development activities in the country. Moreover, growing population in developed and developing economies and rising demand for construction are expected to boost the growth of this region.
Key Participants in Global Circuit Breaker Market:
Merger & acquisition and advanced product development are the frequent strategies followed by the market players
Source: Research Dive Analysis
Some of the major Circuit Breaker market players include Powell Industries., GENERAL ELECTRIC, Hitachi Industrial Equipment Systems Co. Ltd., Siemens, Eaton., CG Power and Industrial Solutions Limited, Schneider Electric, Toshiba Corporation., ABB, Mitsubishi Electric Corporation. To gain competitive advantage, these companies investing heavily in the R&D activities for the technological innovations into circuit breakers.
| Aspect | Particulars |
| Historical Market Estimations | 2018-2019 |
| Base Year for Market Estimation | 2018 |
| Forecast timeline for Market Projection | 2019-2026 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Voltage |
|
| Segmentation by Installation |
|
| Segmentation by End Use Industry |
|
| Key Countries Covered | U.S., Canada, Germany, France, Spain, |
| Key Companies Profiled |
|
Source: Research Dive Analysis
Q1. What is the size of Circuit Breaker Market system?
A. The global Circuit Breaker Market system size was over $12.4 billion in 2018, and is projected to reach $21.1 billion by 2026.
Q2. Who are the leading companies in the Circuit Breaker Market system?
A. Eaton, Siemens and ABB are some of the key players in the global Circuit Breaker Market system.
Q3. Which region possess greater investment opportunities in the coming future?
A. North America region possess great investment opportunities for the investors to witness the most promising growth in the coming years.
Q4. What is the growth rate of North America market?
A. North America Circuit Breaker Market system is anticipated to grow at 7.6% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. CG Power, Powell industries and Toshiba companies are investing more on R&D activities for developing new products and technologies.
1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.4.1. Assumptions
1.4.2. Forecast parameters
1.5. Data sources
1.5.1. Primary
1.5.2. Secondary
2. Executive Summary
2.1. 360° summary
2.2. Voltage trends
2.3. Installation trends
2.4. End-use trends
3. Market Overview
3.1. Market segmentation & definitions
3.2. Key takeaways
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Pricing overview
3.8.1. By voltage
3.8.2. By installation
3.8.3. By end-use
3.8.4. By region
3.9. Market value chain analysis
3.9.1. Stress point analysis
3.9.2. Raw material analysis
3.9.3. Manufacturing process
3.9.4. Distribution channel analysis
3.9.5. Operating vendors
3.9.5.1. Raw material suppliers
3.9.5.2. Product manufacturers
3.9.5.3. Product distributors
3.10. Strategic overview
4. Circuit Breaker Market, by Voltage
4.1. High
4.1.1. Market size and forecast, by region, 2017-2028
4.1.2. Comparative market share analysis, 2018 & 2028
4.2. Medium
4.2.1. Market size and forecast, by region, 2017-2028
4.2.2. Comparative market share analysis, 2018 & 2028
4.3. Low
4.3.1. Market size and forecast, by region, 2017-2028
4.3.2. Comparative market share analysis, 2018 & 2028
5. Circuit Breaker Market, by Installation
5.1. Indoor
5.1.1. Market size and forecast, by region, 2017-2028
5.1.2. Comparative market share analysis, 2018 & 2028
5.2. Outdoor
5.2.1. Market size and forecast, by region, 2017-2028
5.2.2. Comparative market share analysis, 2018 & 2028
6. Circuit Breaker Market, by End-Use
6.1. Commercial
6.1.1. Market size and forecast, by region, 2017-2028
6.1.2. Comparative market share analysis, 2018 & 2028
6.2. Residential
6.2.1. Market size and forecast, by region, 2017-2028
6.2.2. Comparative market share analysis, 2018 & 2028
6.3. Industrial
6.3.1. Market size and forecast, by region, 2017-2028
6.3.2. Comparative market share analysis, 2018 & 2028
6.4. Others
6.4.1. Market size and forecast, by region, 2017-2028
6.4.2. Comparative market share analysis, 2018 & 2028
7. Circuit Breaker Market, by Region
7.1. North Region
7.1.1. Market size and forecast, by voltage, 2017-2028
7.1.2. Market size and forecast, by installation, 2017-2028
7.1.3. Market size and forecast, by end-use, 2017-2028
7.1.4. Market size and forecast, by country, 2017-2028
7.1.5. Comparative market share analysis, 2018 & 2028
7.1.6. U.S
7.1.6.1. Market size and forecast, by voltage, 2017-2028
7.1.6.2. Market size and forecast, by installation, 2017-2028
7.1.6.3. Market size and forecast, by end-use, 2017-2028
7.1.6.4. Comparative market share analysis, 2018 & 2028
7.1.7. Canada
7.1.7.1. Market size and forecast, by voltage, 2017-2028
7.1.7.2. Market size and forecast, by installation, 2017-2028
7.1.7.3. Market size and forecast, by end-use, 2017-2028
7.1.7.4. Comparative market share analysis, 2018 & 2028
7.2. Europe
7.2.1. Market size and forecast, by voltage, 2017-2028
7.2.2. Market size and forecast, by installation, 2017-2028
7.2.3. Market size and forecast, by end-use, 2017-2028
7.2.4. Market size and forecast, by country, 2017-2028
7.2.5. Comparative market share analysis, 2018 & 2028
7.2.6. Spain
7.2.6.1. Market size and forecast, by voltage, 2017-2028
7.2.6.2. Market size and forecast, by installation, 2017-2028
7.2.6.3. Market size and forecast, by end-use, 2017-2028
7.2.6.4. Comparative market share analysis, 2018 & 2028
7.2.7. Germany
7.2.7.1. Market size and forecast, by voltage, 2017-2028
7.2.7.2. Market size and forecast, by installation, 2017-2028
7.2.7.3. Market size and forecast, by end-use, 2017-2028
7.2.7.4. Comparative market share analysis, 2018 & 2028
7.2.8. France
7.2.8.1. Market size and forecast, by voltage, 2017-2028
7.2.8.2. Market size and forecast, by installation, 2017-2028
7.2.8.3. Market size and forecast, by end-use, 2017-2028
7.2.8.4. Comparative market share analysis, 2018 & 2028
7.2.9. Russia
7.2.9.1. Market size and forecast, by voltage, 2017-2028
7.2.9.2. Market size and forecast, by installation, 2017-2028
7.2.9.3. Market size and forecast, by end-use, 2017-2028
7.2.9.4. Comparative market share analysis, 2018 & 2028
7.2.10. Rest of Europe
7.2.10.1. Market size and forecast, by voltage, 2017-2028
7.2.10.2. Market size and forecast, by installation, 2017-2028
7.2.10.3. Market size and forecast, by end-use, 2017-2028
7.2.10.4. Comparative market share analysis, 2018 & 2028
7.3. Asia-Pacific
7.3.1. Market size and forecast, by voltage, 2017-2028
7.3.2. Market size and forecast, by installation, 2017-2028
7.3.3. Market size and forecast, by end-use, 2017-2028
7.3.4. Market size and forecast, by country, 2017-2028
7.3.5. Comparative market share analysis, 2018 & 2028
7.3.6. China
7.3.6.1. Market size and forecast, by voltage, 2017-2028
7.3.6.2. Market size and forecast, by installation, 2017-2028
7.3.6.3. Market size and forecast, by end-use, 2017-2028
7.3.6.4. Comparative market share analysis, 2018 & 2028
7.3.7. India
7.3.7.1. Market size and forecast, by voltage, 2017-2028
7.3.7.2. Market size and forecast, by installation, 2017-2028
7.3.7.3. Market size and forecast, by end-use, 2017-2028
7.3.7.4. Comparative market share analysis, 2018 & 2028
7.3.8. Japan
7.3.8.1. Market size and forecast, by voltage, 2017-2028
7.3.8.2. Market size and forecast, by installation, 2017-2028
7.3.8.3. Market size and forecast, by end-use, 2017-2028
7.3.8.4. Comparative market share analysis, 2018 & 2028
7.3.9. South Korea
7.3.9.1. Market size and forecast, by voltage, 2017-2028
7.3.9.2. Market size and forecast, by installation, 2017-2028
7.3.9.3. Market size and forecast, by end-use, 2017-2028
7.3.9.4. Comparative market share analysis, 2018 & 2028
7.3.10. Australia
7.3.10.1. Market size and forecast, by voltage, 2017-2028
7.3.10.2. Market size and forecast, by installation, 2017-2028
7.3.10.3. Market size and forecast, by end-use, 2017-2028
7.3.10.4. Comparative market share analysis, 2018 & 2028
7.3.11. Rest of Asia Pacific
7.3.11.1. Market size and forecast, by voltage, 2017-2028
7.3.11.2. Market size and forecast, by installation, 2017-2028
7.3.11.3. Market size and forecast, by end-use, 2017-2028
7.3.11.4. Comparative market share analysis, 2018 & 2028
7.4. LAMEA
7.4.1. Market size and forecast, by voltage, 2017-2028
7.4.2. Market size and forecast, by installation, 2017-2028
7.4.3. Market size and forecast, by end-use, 2017-2028
7.4.4. Market size and forecast, by country, 2017-2028
7.4.5. Comparative market share analysis, 2018 & 2028
7.4.6. Brazil
7.4.6.1. Market size and forecast, by voltage, 2017-2028
7.4.6.2. Market size and forecast, by installation, 2017-2028
7.4.6.3. Market size and forecast, by end-use, 2017-2028
7.4.6.4. Comparative market share analysis, 2018 & 2028
7.4.7. Saudi arabia
7.4.7.1. Market size and forecast, by voltage, 2017-2028
7.4.7.2. Market size and forecast, by installation, 2017-2028
7.4.7.3. Market size and forecast, by end-use, 2017-2028
7.4.7.4. Comparative market share analysis, 2018 & 2028
7.4.8. Rest of LAMEA
7.4.8.1. Market size and forecast, by voltage, 2017-2028
7.4.8.2. Market size and forecast, by installation, 2017-2028
7.4.8.3. Market size and forecast, by end-use, 2017-2028
7.4.8.4. Comparative market share analysis, 2018 & 2028
8. Company Profiles
8.1. Powell Industries.
8.1.1. Business overview
8.1.2. Financial performance
8.1.3. Product portfolio
8.1.4. Recent strategic moves & developments
8.1.5. SWOT analysis
8.2. GENERAL ELECTRIC
8.2.1. Business overview
8.2.2. Financial performance
8.2.3. Product portfolio
8.2.4. Recent strategic moves & developments
8.2.5. SWOT analysis
8.3. Hitachi Industrial Equipment Systems Co.,Ltd.
8.3.1. Business overview
8.3.2. Financial performance
8.3.3. Product portfolio
8.3.4. Recent strategic moves & developments
8.3.5. SWOT analysis
8.4. Siemens
8.4.1. Business overview
8.4.2. Financial performance
8.4.3. Product portfolio
8.4.4. Recent strategic moves & developments
8.4.5. SWOT analysis
8.5. Eaton.
8.5.1. Business overview
8.5.2. Financial performance
8.5.3. Product portfolio
8.5.4. Recent strategic moves & developments
8.5.5. SWOT analysis
8.6. CG Power and Industrial Solutions Limited
8.6.1. Business overview
8.6.2. Financial performance
8.6.3. Product portfolio
8.6.4. Recent strategic moves & developments
8.6.5. SWOT analysis
8.7. Schneider Electric
8.7.1. Business overview
8.7.2. Financial performance
8.7.3. Product portfolio
8.7.4. Recent strategic moves & developments
8.7.5. SWOT analysis
8.8. Toshiba Corporation.
8.8.1. Business overview
8.8.2. Financial performance
8.8.3. Product portfolio
8.8.4. Recent strategic moves & developments
8.8.5. SWOT analysis
8.9. ABB
8.9.1. Business overview
8.9.2. Financial performance
8.9.3. Product portfolio
8.9.4. Recent strategic moves & developments
8.9.5. SWOT analysis
8.10. Mitsubishi Electric Corporation
8.10.1. Business overview
8.10.2. Financial performance
8.10.3. Product portfolio
8.10.4. Recent strategic moves & developments
8.10.5. SWOT analysis
In today's modern world, the circuit breaker is without a doubt an invaluable gadget and one of the most important safety instruments in your house. Absent circuit breakers (or alternate fuses), domestic power would be unwise owing to latent fire and other damage caused by basic electrical issues and gear failures. When there is too much electricity flowing through the electrical wiring in the building, these simple machines will cut off the power until someone can fix the problem.
How the Circuit breakers work?
Circuit breakers serve three key functions: control, swapping and security. To secure individuals and equipment when the current exceeds a dangerous point due to short circuit, interference, or other electrical faults. Circuit breakers are deliberately designed to break down (discontinue) the movement of energy. Circuit breakers of different types may include design features that provide metering and alarm functionality, remote on/off control for commercial and industrial use, and ground fault and/or arc-fault protection for residential usage.
Industries concerned with circuit breakers are concentrating on innovative new circuit protection devices. Circuit breaker suppliers are primarily focused on the efficiency and room reduction of outdoor substations. Circuit breakers are a critical part of the power business. Circuit breakers play a significant role in the transmission and distribution of electrical power, consumer electronics, industrial equipment and machines, servers, telephone, vehicle, and digital exchange systems, among others.
Market Overview
Circuit Breaker Market is anticipated to grow at a strong CAGR over the next five years due to the increasing need to reduce the power and energy losses caused by the transmission as well as distribution of electricity. The global market estimate for circuit breakers will be $21.1 billion by 2026, growing from $12.4 billion in 2018 at a CAGR of 6.9%. Nevertheless, growing demand for electricity in the country and a lack of electricity supply, together with increasing government steps to turn existing power grids into smart grids, are expected to further boost the market.
Based on the type, outdoor circuit breaker segment is anticipated to dominate the market due to applications such as low maintenance, protection against environmental conditions, etc. The medium voltage category is expected to lead the industry for the next five years due to increasing government spending in upgrading the aging power supply grid.
Advancements in the industry
The global market is set to experience a period of intense competition as key players bring innovative products onto the market. For example, in May 2019, Eaton launched its molded case circuit breakers circuit protection solutions called Power Defense. Government authorities are also taking a constructive position in this sector. For example, under its BREAKERS initiative, the US Department of Energy has recently awarded $35 million to support medium-voltage devices for the transport, industrial and grid sectors.
In addition, technological advances in the manufacture of circuit breakers in South Korea, Japan, and China will further boost business growth in the world. The upgrading of the current infrastructure would support healthy market development in North America and Europe. Aggressive manufacturing and metropolitan development will present exceptional business opportunities in Africa, making it the most promising region in the world.
Previously, TechSci Research provided a list of producers in India. TechSci Research carried out both significant and comprehensive secondary research. Subsequently, TechSci Research piloted primary research surveys with the listed businesses. During interviews, respondents were also questioned about their competitors. Through this approach, TechSci Research could include sources that could not be established because of the constraints of secondary research. For this study, TechSci Research has analyzed the distribution channels and the existence of all major manufacturers in India.
Key Players of the Circuit Breaker Market
Some of the big players on the market for Circuit Breakers are Powell Industries, GENERAL ELECTRIC, Hitachi Industrial Equipment Systems Co. Ltd, Siemens, Eaton, CG Power, Schneider Electric, Toshiba, ABB, Mitsubishi Electric Corporation. To gain a competitive advantage, many companies are investing extensively to circuit breaker technology innovation R&D initiatives.
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