Circuit Breaker Market Analysis

  • Report ID: 5125
  • Published Date: Oct 14, 2024
  • Report Format: PDF, PPT

Circuit Breaker Market Analysis

Insulation Type (Air, Gas, Vacuum, Oil)

The gas segment is projected to held 38% share of the global circuit breaker market in 2037. The growth of the segment can be attributed to the rising investment in green energy. According to the International Energy Agency, meeting long-term sustainability targets may necessitate a 50% increase in global grid spending over the next decade. Moreover, renewables lead to new power generation investment, accounting for 70% of the USD 530 billion invested in all new generation capacity in 2021. In renewable energy applications, particularly in high-voltage systems, gas-insulated circuit breakers are often employed. The distinct advantages, such as improved high-voltage handling and efficient protection against short circuits and overloads make them suitable for application in renewable grids.

Installation (Indoor, Outdoor)

In the year 2037, the outdoor segment in the circuit breaker market is predicted to have a large proportion of roughly 46%. The rising installation of wind and solar plants is expected to drive the growth of the segment. Global solar PV capacity addition investments climbed by more than 20% in 2022, exceeding USD 320 billion. Moreover, in 2022, 93% of the entire 900 GW of built wind capacity was in onshore systems, with the remaining 7% in offshore wind farms. Outdoor circuit breakers are used to isolate specific components of solar or wind power plants from the rest of the system. This enables safe maintenance, repairs, and troubleshooting without disrupting the entire operation.

Our in-depth analysis of the global market includes the following segments:

     Installation

  • Indoor
  • Outdoor

     Insulation Type

  • Air
  • Gas
  • Vacuum
  • Oil

 

     End User

  • Power Generation
  • Transmission & Distribution Utilities
  • Railways
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Author Credits:  Abhishek Verma


  • Report ID: 5125
  • Published Date: Oct 14, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of circuit breaker is assessed at USD 11.03 billion.

The circuit breaker market size was over USD 10.41 billion in 2024 and is poised to reach USD 26.23 billion by the end of 2037, growing at around 7.3% CAGR during the forecast period i.e., between 2025-2037. Rising demand for renewable electricity, higher integration of smart grids, and upgrade of old transmission lines will boost the market growth.

Asia Pacific industry is predicted to hold 37% of the revenue share by 2037, owing to growing infrastructural development in the region.

The major players in the market include Eaton, Schneider Electric, WEG S.A., LS ELECTRIC Co., Ltd, Kirloskar Electric Company, Powell Industries, ABB, GENERAL ELECTRIC, Siemens, CG Power and Industrial Solutions Limited, Mitsubishi Electric Corporation.
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