The renewable end-user segment is expected to grow at the highest CAGR, during the forecast period.
“The Circuit Breaker Market is projected to grow at a CAGR of 4.85%, from 2022 to 2031.”
The Circuit Breaker Market is projected to reach USD 8.68 billion by 2031, from an estimated USD 6.85 billion in 2022, at a CAGR of 4.85%, from 2022 to 2031. Increasing construction and developmental activities, growing access to electricity in developing countries, and the rising number of renewable power generation projects are the major drivers of the circuit breaker market. Price volatility of raw materials can hinder the growth of the market.
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“The renewable end-user segment is expected to grow at the highest CAGR, from 2022 to 2031.”
The renewable end-user segment is expected to grow at the highest CAGR, during the forecast period. Increasing investments in renewable energy sources to curb CO2 emissions and the growing need for access to electricity are the major factors driving the growth of the renewable segment of the circuit breaker market. Circuit breakers are used to detect the fault current and protect electrical equipment in the grid.
“Asia Pacific: The largest market for circuit breakers in 2016.”
The market in Asia Pacific is currently the largest for circuit breakers followed by the North American market. Rising investments in construction and developmental activities and increasing electricity demand are driving the circuit breaker market in Asia Pacific.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 35%, Tier 2- 45%, and Tier 3- 20%
By Designation: C-Level- 35%, D-Level- 25%, and Others- 40%
By Region: North America- 30%, Asia Pacific- 20%, Europe- 10%, Middle East & Africa- 35%, and South America- 5%
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Note: Others includes product managers, marketing managers, and sales managers
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2016: Tier 1 = > USD 5 billion, Tier 2 = From USD 1 billion to USD 5 billion, and Tier 3 = < USD 1 billion
The leading players in the circuit breaker market include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Mitsubishi (Japan), and Toshiba (Japan).
The report defines, describes, and forecasts the global circuit breaker market by voltage, type, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the circuit breaker market.
Why Buy this Report?
1. The report identifies and addresses key markets for circuit breakers, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.h
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