The global circuit protection market size reached US$ 46.5 Billion in 2023. Looking forward, the market is projected to reach US$ 72.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.07% during 2023-2032.
Circuit protection refers to the installation of fuses and circuit breakers to protect low-voltage electrical devices during power fluctuations. Frequent voltage fluctuations can damage equipment through electrostatic discharge and reduce its overall lifespan. Circuit protection devices (CPDs), such as circuit breakers, fuses, electrostatic discharge and surge protection devices, are installed to eliminate the threats of electrocution and fire. They form a key component in the manufacturing of computers, laptops, smartphones, battery packs, communication systems and portable electronics.
The growing automotive industry, along with the growing utilization of consumer electronics, is one of the key factors driving the growth of the market. In automobiles, both electrical and mechanical components are used that are dependent on CPDs to enhance driving assistance, infotainment, navigation, and telematics, passenger comfort and safety. These devices are also used to integrate smart and high-performance functionalities by preventing wires and other electrical components from overheating. Furthermore, the emerging trend of equipment miniaturization has also boosted the demand for circuit protection solutions across the globe.
Manufacturers are designing innovative and compact products that are more vulnerable to voltage and electrical surges, thus increasing the demand for circuit protection solutions. Additionally, the rapid growth of slim, smart portable appliances with improved sensitivity, faster processors and better power densities is another factor creating a positive outlook for the market. Other factors, including rapid urbanization, growth in the construction industry and various technological advancements, are projected to drive the market in the upcoming years.
2. What is the expected growth rate of the global circuit protection market during 2024-2032?
3. What are the key factors driving the global circuit protection market?
4. What has been the impact of COVID-19 on the global circuit protection market?
5. What is the breakup of the global circuit protection market based on the device?
6. What are the key regions in the global circuit protection market?
7. Who are the key players/companies in the global circuit protection market?
Circuit protection refers to the installation of fuses and circuit breakers to protect low-voltage electrical devices during power fluctuations. Frequent voltage fluctuations can damage equipment through electrostatic discharge and reduce its overall lifespan. Circuit protection devices (CPDs), such as circuit breakers, fuses, electrostatic discharge and surge protection devices, are installed to eliminate the threats of electrocution and fire. They form a key component in the manufacturing of computers, laptops, smartphones, battery packs, communication systems and portable electronics.
The growing automotive industry, along with the growing utilization of consumer electronics, is one of the key factors driving the growth of the market. In automobiles, both electrical and mechanical components are used that are dependent on CPDs to enhance driving assistance, infotainment, navigation, and telematics, passenger comfort and safety. These devices are also used to integrate smart and high-performance functionalities by preventing wires and other electrical components from overheating. Furthermore, the emerging trend of equipment miniaturization has also boosted the demand for circuit protection solutions across the globe.
Manufacturers are designing innovative and compact products that are more vulnerable to voltage and electrical surges, thus increasing the demand for circuit protection solutions. Additionally, the rapid growth of slim, smart portable appliances with improved sensitivity, faster processors and better power densities is another factor creating a positive outlook for the market. Other factors, including rapid urbanization, growth in the construction industry and various technological advancements, are projected to drive the market in the upcoming years.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global circuit protection market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, device and end-use.Breakup by Type:
- Overcurrent Protection
- Electrostatic Discharge (ESD) Protection
- Overvoltage Protection
Breakup by Device:
- Circuit Breakers
- Fuses
- ESD Protection Devices
- Surge Protection Devices
Breakup by End-Use:
- Residential Building Construction
- Non-Residential Building Construction
- Automotive
- Electrical and Electronics
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being ABB Ltd., BEL Fuse Inc., Eaton Corp. PLC, General Electric Company, Larsen & Toubro Ltd., Mitsubishi Electric Corp., NXP Semiconductors N.V., ON Semiconductor Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Texas Instruments Inc., Hitachi Ltd., etc.Key Questions Answered in This Report
1. How big is the global circuit protection market?2. What is the expected growth rate of the global circuit protection market during 2024-2032?
3. What are the key factors driving the global circuit protection market?
4. What has been the impact of COVID-19 on the global circuit protection market?
5. What is the breakup of the global circuit protection market based on the device?
6. What are the key regions in the global circuit protection market?
7. Who are the key players/companies in the global circuit protection market?
Table of Contents
1 Preface3 Executive Summary13 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Circuit Protection Market
6 Market Breakup by Type
7 Market Breakup by Device
8 Market Breakup by End-Use
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- ABB Ltd.
- BEL Fuse Inc.
- Eaton Corp. PLC
- General Electric Company
- Larsen & Toubro Ltd.
- Mitsubishi Electric Corp.
- NXP Semiconductors N.V.
- ON Semiconductor Corp.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Texas Instruments Inc.
- Hitachi Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 46.5 Billion |
| Forecasted Market Value ( USD | $ 72.6 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
