The circuit breaker market size has grown strongly in recent years. It will grow from $7.12 billion in 2023 to $7.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed in the historical period can be attributed to several factors, increased electrification across various industries, heightened investments in infrastructure development, the integration of renewable energy sources, expansion of industrial automation, and a growing demand for outdoor installations of circuit breakers to support these developments.
The circuit breaker market size is expected to see strong growth in the next few years. It will grow to $9.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to several key factors, the increasing adoption of electric vehicles, rising investments in renewable energy infrastructure, growing concerns about cybersecurity in electrical systems, heightened investment in enhancing grid resilience, and the expanding global population driving greater energy demand. Major trends expected in this period include advancements in technology, integration of smart grid solutions, proliferation of IoT-enabled devices for enhanced monitoring and control, adoption of solid-state circuit breakers for improved efficiency and reliability, and the implementation of digital twin technology for predictive maintenance and optimization of electrical systems.
The circuit breaker market is expected to grow significantly due to increasing demand for electricity driven by widespread use of electronic devices such as computers, smartphones, and appliances, rising household and commercial electricity consumption, adoption of smart home technologies, and industrial growth. Circuit breakers are critical safety components in electrical systems, protecting against overcurrents and short circuits while allowing for manual control and maintenance of circuits. For instance, Eurostat reported an increase in the EU's electricity production from 2,784 TWh in 2020 to 2,907 TWh in 2021, and Australia's total energy generation rose by 2% to 272 TWh in 2021-2022, underscoring the market's growth trajectory.
Leading companies in the circuit breaker sector are focusing on developing eco-efficient alternatives to meet environmental regulations and sustainability goals. Eco-efficient solutions aim to minimize environmental impact while maximizing efficiency. For example, Hitachi Energy Ltd. launched a 420-kV eco-efficient circuit breaker in August 2022, utilizing a gas mixture that reduces environmental impact compared to traditional sulfur hexafluoride (SF6) gas. This innovation maintains high-performance standards with advanced digital monitoring and diagnostic capabilities, ensuring reliable operation.
In July 2022, Eaton Corporation plc acquired a 50% stake in Jiangsu Huineng Electric Co., Ltd.'s circuit breaker business to enhance its presence in China's growing market. This strategic move allows Eaton to expand into high-growth sectors such as renewable energy, grid modernization, commercial buildings, and industrial applications, leveraging Jiangsu Huineng Electric's expertise in voltage electrical equipment manufacturing.
Major companies operating in the circuit breaker market are Panasonic Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., Siemens Energy, ABB Ltd., Toshiba International Corporation, Larsen & Toubro Limited, Eaton Corporation plc, TE Connectivity Ltd., Fuji Electric Co. Ltd., Kirloskar Electric Company Ltd., Andeli Group Co. Ltd., CG Power and Industrial Solutions Ltd., Powell Industries Inc., Terasaki Electric Co. Ltd., Maxwell Technologies Inc., Carling Technologies Inc., Industrial Electric Mfg, Efacec Power Solutions, Hitachi Industrial Equipment Systems Co. Ltd., ETA Elektrotechnische Apparate GmbH.
Asia-Pacific was the largest region in the circuit breaker market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the circuit breaker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the circuit breaker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A circuit breaker is an essential electrical device designed to safeguard electrical circuits from damage caused by overcurrent or short circuits. Its primary function is to halt the flow of electricity automatically when it detects a fault, thereby preventing harm to the electrical system and mitigating the risk of fire or other hazards.
Circuit breakers are categorized into three main types based on voltage levels, low voltage (LV), medium voltage (MV), and high voltage (HV). Low voltage refers to systems and equipment operating at or below 1000 volts (V) AC or 1500 V DC. LV circuit breakers are crucial components in control rooms, distribution networks, lighting systems, communication setups, security systems, and various residential and commercial devices such as doorbells, thermostats, and landscape lighting. They utilize different insulation mediums such as vacuum, air, gas, and oil, and are deployed across both indoor and outdoor applications. End-users of LV circuit breakers include residential, commercial, industrial, and utility sectors.
The circuit breaker market research report is one of a series of new reports that provides circuit breaker market statistics, including circuit breaker industry global market size, regional shares, competitors with a circuit breaker market share, detailed circuit breaker market segments, market trends, and opportunities, and any further data you may need to thrive in the circuit breaker industry. This circuit breaker research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The circuit breakers market consists of the sale of miniature circuit breakers (MCBs), molded case circuit breakers (MCCBs), air circuit breakers (ACBs), vacuum circuit breakers, and gas circuit breakers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The circuit breaker market size is expected to see strong growth in the next few years. It will grow to $9.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to several key factors, the increasing adoption of electric vehicles, rising investments in renewable energy infrastructure, growing concerns about cybersecurity in electrical systems, heightened investment in enhancing grid resilience, and the expanding global population driving greater energy demand. Major trends expected in this period include advancements in technology, integration of smart grid solutions, proliferation of IoT-enabled devices for enhanced monitoring and control, adoption of solid-state circuit breakers for improved efficiency and reliability, and the implementation of digital twin technology for predictive maintenance and optimization of electrical systems.
The circuit breaker market is expected to grow significantly due to increasing demand for electricity driven by widespread use of electronic devices such as computers, smartphones, and appliances, rising household and commercial electricity consumption, adoption of smart home technologies, and industrial growth. Circuit breakers are critical safety components in electrical systems, protecting against overcurrents and short circuits while allowing for manual control and maintenance of circuits. For instance, Eurostat reported an increase in the EU's electricity production from 2,784 TWh in 2020 to 2,907 TWh in 2021, and Australia's total energy generation rose by 2% to 272 TWh in 2021-2022, underscoring the market's growth trajectory.
Leading companies in the circuit breaker sector are focusing on developing eco-efficient alternatives to meet environmental regulations and sustainability goals. Eco-efficient solutions aim to minimize environmental impact while maximizing efficiency. For example, Hitachi Energy Ltd. launched a 420-kV eco-efficient circuit breaker in August 2022, utilizing a gas mixture that reduces environmental impact compared to traditional sulfur hexafluoride (SF6) gas. This innovation maintains high-performance standards with advanced digital monitoring and diagnostic capabilities, ensuring reliable operation.
In July 2022, Eaton Corporation plc acquired a 50% stake in Jiangsu Huineng Electric Co., Ltd.'s circuit breaker business to enhance its presence in China's growing market. This strategic move allows Eaton to expand into high-growth sectors such as renewable energy, grid modernization, commercial buildings, and industrial applications, leveraging Jiangsu Huineng Electric's expertise in voltage electrical equipment manufacturing.
Major companies operating in the circuit breaker market are Panasonic Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Honeywell International Inc., Siemens Energy, ABB Ltd., Toshiba International Corporation, Larsen & Toubro Limited, Eaton Corporation plc, TE Connectivity Ltd., Fuji Electric Co. Ltd., Kirloskar Electric Company Ltd., Andeli Group Co. Ltd., CG Power and Industrial Solutions Ltd., Powell Industries Inc., Terasaki Electric Co. Ltd., Maxwell Technologies Inc., Carling Technologies Inc., Industrial Electric Mfg, Efacec Power Solutions, Hitachi Industrial Equipment Systems Co. Ltd., ETA Elektrotechnische Apparate GmbH.
Asia-Pacific was the largest region in the circuit breaker market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the circuit breaker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the circuit breaker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A circuit breaker is an essential electrical device designed to safeguard electrical circuits from damage caused by overcurrent or short circuits. Its primary function is to halt the flow of electricity automatically when it detects a fault, thereby preventing harm to the electrical system and mitigating the risk of fire or other hazards.
Circuit breakers are categorized into three main types based on voltage levels, low voltage (LV), medium voltage (MV), and high voltage (HV). Low voltage refers to systems and equipment operating at or below 1000 volts (V) AC or 1500 V DC. LV circuit breakers are crucial components in control rooms, distribution networks, lighting systems, communication setups, security systems, and various residential and commercial devices such as doorbells, thermostats, and landscape lighting. They utilize different insulation mediums such as vacuum, air, gas, and oil, and are deployed across both indoor and outdoor applications. End-users of LV circuit breakers include residential, commercial, industrial, and utility sectors.
The circuit breaker market research report is one of a series of new reports that provides circuit breaker market statistics, including circuit breaker industry global market size, regional shares, competitors with a circuit breaker market share, detailed circuit breaker market segments, market trends, and opportunities, and any further data you may need to thrive in the circuit breaker industry. This circuit breaker research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The circuit breakers market consists of the sale of miniature circuit breakers (MCBs), molded case circuit breakers (MCCBs), air circuit breakers (ACBs), vacuum circuit breakers, and gas circuit breakers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Circuit Breaker Market Characteristics3. Circuit Breaker Market Trends and Strategies32. Global Circuit Breaker Market Competitive Benchmarking33. Global Circuit Breaker Market Competitive Dashboard34. Key Mergers and Acquisitions in the Circuit Breaker Market
4. Circuit Breaker Market - Macro Economic Scenario
5. Global Circuit Breaker Market Size and Growth
6. Circuit Breaker Market Segmentation
7. Circuit Breaker Market Regional and Country Analysis
8. Asia-Pacific Circuit Breaker Market
9. China Circuit Breaker Market
10. India Circuit Breaker Market
11. Japan Circuit Breaker Market
12. Australia Circuit Breaker Market
13. Indonesia Circuit Breaker Market
14. South Korea Circuit Breaker Market
15. Western Europe Circuit Breaker Market
16. UK Circuit Breaker Market
17. Germany Circuit Breaker Market
18. France Circuit Breaker Market
19. Italy Circuit Breaker Market
20. Spain Circuit Breaker Market
21. Eastern Europe Circuit Breaker Market
22. Russia Circuit Breaker Market
23. North America Circuit Breaker Market
24. USA Circuit Breaker Market
25. Canada Circuit Breaker Market
26. South America Circuit Breaker Market
27. Brazil Circuit Breaker Market
28. Middle East Circuit Breaker Market
29. Africa Circuit Breaker Market
30. Circuit Breaker Market Competitive Landscape and Company Profiles
31. Circuit Breaker Market Other Major and Innovative Companies
35. Circuit Breaker Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Circuit Breaker Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on circuit breaker market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for circuit breaker ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The circuit breaker market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Low voltage; Medium voltage; High voltage2) By Insulation Type: Vacuum; Air; Gas; Oil
3) By Application: Indoor; Outdoor
4) By End User: Residential; Commercial; Industrial; Utilities
Key Companies Mentioned: Panasonic Corporation; Schneider Electric SE; Mitsubishi Electric Corporation; Honeywell International Inc.; Siemens Energy
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | September 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 7.59 Billion |
| Forecasted Market Value ( USD | $ 9.88 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
