New Jersey, NJ, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Rise in development of construction & developmental activities and improved infrastructure of electricity in developing countries are the key contributing factors for the growth of the market. The global circuit breaker and fuse market is expected to grow from USD 15.26 Billion in 2017 to USD 24.96 Billion by 2025 at a CAGR of 6.34% during the forecast period 2018-2025, according to the new report published by Fior Markets.
A circuit breaker is a programmed electrical switch that safeguards an electrical circuit from any damage brought about by excess flow or short circuit. Its main aim is to discontinue the current flow after a fault is detected in a circuit. A fuse is an electrical safety equipment that provides overcurrent protection of an electrical circuit. In the fuse, the main element is a metal wire or a strip that melts when overcurrent flows over it. Circuit Breaker and fuse help to provide programmed inquiry and inspection of various items based on different fuse product types, for example, process control, programmed review, and robot direction. This circuit breaker product type provides visual quality assurance (QA) with autonomous circuit breaker and fuse that uses plug & inspect technology. Circuit breaker and fuse system have developed superior observing system and have mechanized direction for the mechanical robots.
Rising demand for advanced equipment in electronics, automotive and telecommunication segments owing to increasing safety concerns related to short circuits and damage due to power fluctuations is a major factor driving the market. But strict environmental & safety policies for Sf6 circuit breakers may hamper the growth of market. However, focus towards smart cities and aging power infrastructure are two important factors that will drive the growth of the market in the coming years.
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Key players operating in the global circuit breaker and fuse market include ABB, Siemens Ltd., Eaton, Scheinder Electric, Powell Electronics, Inc. , TE Connectivity, cgglobal, Fuli Electric Co. Ltd, Larsen & Toubro Limited, Efacec, Hawker Siddeley Switchgear, Tavrida Electric, Legrand, Honeywell International Inc., Camsco Electric Co., Ltd, Mitsubishi Electric Corporation. To enhance their market position in the global circuit breaker and fuse market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- For instance, in 2019, ABB reinvents the circuit breaker - breakthrough digital technology for renewables and next-gen power grids. The ground-breaking low voltage circuit breaker concept will be revealed to the public for the first time at the Hannover Messe in Germany. The product will be available from 2020.
- For instance, in 2018, Circuit Breaker Sales Co. introduced breaker buzz, which is beneficial for the company in respect to electrical apparatus sales, service, testing, and engineering.
- For instance, in 2014, Siemens introduced expanded version of Fusesaver™—the world’s fastest medium-voltage outdoor vacuum circuit breaker. The Fusesaver can detect fault in the current and clear the fault by interrupting the current with the separation process.
300V-500V segment held the largest market share of 28.80% in 2017
The voltage segment is classified into 300V-500V, 500V- 1000V, 1000V- 1500V, 1500V-2000V, 2000V-2500V, 2500V-3000V and 3000V-3600V. The 300V-500V segment has dominated the circuit breaker and fuse market with USD 4.39 Billion in 2017. The 300V-500V voltages help in the safe operation of the protection circuit and are widely used in most of the industries such as construction, power generation, electrical and electronic equipment, and others.
Low-voltage segment valued around USD 10.02 Billion in 2017
Circuit breaker product type segment includes low voltage and high voltage. The low voltage segment is dominating the market with the highest share of 65.70% in 2017. The segment is expanding in terms of share owing to increasing investments in aging electrical infrastructure in transmission and distribution networks and the growing need to protect electrical circuit equipment.
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Thermal fuse cutoff TF 98ᵒ C 250V 3A segment held the largest market share of 35.40% in 2017
TAM medium voltage fuses type segment is divided into segments such as thermal fuse cutoff TF 98ᵒ C 250V 3A, thermal fuse cutoff TF 102ᵒ C 250V 3A, thermal fuse cutoff TF 115ᵒ C 250V 3A, thermal fuse cutoff 113ᵒ C 250V 3A and thermal fuse cutoff 150ᵒ C 250V 3A. Thermal fuse cutoff TF 98ᵒ C 250V 3A is dominating the market and valued around USD 5.40 Billion in 2017. It is dominating because it protects from overcurrent and short-circuiting due to which there is high demand for circuit breaker and fuse in industrial applications.
Regional Segment Analysis of the Circuit breaker and fuse Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global circuit breaker and fuse market with USD 6.63 Billion in 2017 whereas the North America region is growing rapidly in the market. The Asia Pacific region is dominant in terms of shares due to the up-gradation of aging electrical grid infrastructure and a rise in electricity demand in the region. North America is the fastest-growing region owing to its rapid growth in the construction market. The increasing implementation of alternative energy generation sources such as wind and solar which require huge investments has increased the market share of the North America region in the global circuit breaker and fuse market
About the report:
The global circuit breaker and fuse market is analysed on the basis of value (USD Billion), volume (‘000 Units), consumption (‘000 Units), import (‘000 Units), and export (‘000 Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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