Circuit breakers are an essential component of an electric circuit. These electric switches and fuses protect electronic circuits from various types of damages. In short, circuit breakers protect the circuits from short circuits and overload of electricity by detecting conditions and flaws interfering steady flow of current. Rising demand for electricity from different parts of the world is also putting pressure on demand and supply pattern in the circuit breaker market. According to the experts, circuit breaker and fuse market is expected to maintain steady growth in terms of compound annual growth rate within next four to five years to come. This is a great sign for the businesses and potential investments prospects in the industry.
Scope of Market Research in CB Market
Global circuit breaker market is studied based on its segments, current trends, forecasting reports, business opportunities, industry restraints and competition in terms of small, medium and large enterprises. Segmentation in the industry is based on the types of circuit breakers, fuses, their applications and demand for circuit breakers and fuses across various geographic regions.
- Circuit Breakers: High voltage (HVCB), medium voltage (MVCB) and low voltage (LVCB)
- Fuses: Low and medium voltage fuse, high voltage fuses and others
- Applications: Residential and nonresidential building construction, electronic equipment, automotive industry, non automotive transportation equipment and electrical equipment
- Geography: North America, Asia pacific, Europe, Middle East and rest of the world (RoW)
Market Trends and Forecasting Reports Until 2018
Growing demand for electricity, growth in the construction and automotive industry and technological advancements in the market are strong drivers for the global circuit breaker market. Rising investments in residential and nonresidential constructions are expected to drive the global industry from 2013 to 2018. According to the market research reports, the market is expected to grow at a CAGR of over 5% from 2013 to 2018. At this rate, the market is anticipated to become worth more than $15,100.0 million by 2018. Both North and Latin America are expected to dominate the global market in terms of geographic regions. The Americas are expected to maintain an average CAGR of over 6% during the forecasting period.
Amidst circuit breakers and fuses, former one (circuit breaker) has larger market shares. Although fuses need to be replaced every time they are used, CBs are maintaining their stronghold over the global market. Based on market demands circuit breakers are expected to dominate the industry.