Circuit Breaker And Fuse Market– Statistics And Analysis & Forecast To 2022Posted by Mrudula Anil Karmarkar on March 30th, 2021 The global circuit breaker and fuse market is expected to reach USD 18.92 billion by 2022, according to a new report by Grand View Research, Inc. Replacement of electromechanical and mechanical devices with electronic equipment is expected to drive demand in manufacturing and industrial sector. The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2012. The report will account for Covid19 as a key market contributor. Increasing construction and infrastructure activities using different components in residential and commercial projects such as MCBs, protective relays, air and gas circuit breakers is expected to boost demand. Technological advancements such as emergence of generator circuit breakers in natural gas power plants are further expected to boost the demand. Moreover, significant investment transmission grid has surpassed the need of replacing worn out energy infrastructure which is expected to provide significant opportunities for the circuit breaker and fuse industry. Growing focus on increasing the functionality of power system apparatus to facilitate better system asset management and improve electrical power quality is expected to drive the market over the next seven years. However, high cost of raw materials such as gold and silver used for component wiring are expected to hamper growth. Circuit Breaker And Fuse Market Report Highlights
These devices reduce and manage the electric load on equipment such as home appliances, industrial machinery, IT products and electric tools, thus protecting them from unforeseen power fluctuations arising from situations such as short circuits, overvoltage, and overload. Moreover, increasing usage of circuit breakers and fuses in the automotive industry and rising energy consumption are considered to further raise the demand for these devices over the forecast period. Furthermore, Asian and African countries have made huge investments to improve electricity infrastructure and provide better power to rural areas thus the market is expected to witness high growth in these regions. Additionally, increasing urbanization and industrialization in emerging economies such as India, Indonesia, Malaysia, and others, is anticipated to further boost the market growth. Moreover, rising demand for replacing the conventional mechanical and electromechanical devices across manufacturing and industrial sector is anticipated to drive the demand for circuit breaker and fuses over the forecast period. Additionally, stringent environmental regulations delegating the need for advanced transmission and distribution equipment is projected to accentuate circuit breaker and fuse market growth over the next seven years. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/2474/ibb The Circuit breaker and fuse market was led by Eaton Corporation, Alstom SA, ABB Ltd, Schneider Electric, General Electric, Maxwell Technologies, Pennsylvania Breaker LLC, Mitsubishi Electric, and G&W Electric Company. The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Grand View Research has segmented the circuit breaker and fuse market on the basis of product, application: Product Outlook (Revenue, USD Million, 2012 - 2022)
o Low voltage o Medium voltage o High voltage
o Air o Vacuum o Oil o SF6 o Others
o Low voltage o High voltage Application Outlook (Revenue, USD Million, 2012 - 2022)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it!More by this author |