Medium Voltage Circuit Breaker Market Share

APAC Market Forecast

The Asia Pacific medium voltage circuit breaker market is projected to generate the highest revenue share of over 30% during the forecast period. This growth is set to be influenced by the rising urban population. Asia is inhabited by roughly 2.2 billion people or 54% of the world's metropolitan population. Asia is expected to include 1.2 billion more urban residents by 2050, a 50% increase in population. Hence, with this, the infrastructure development is also growing driving the medium voltage circuit breaker market growth. Furthermore, the need for various commercial sectors is also growing significantly in this region which further demands the huge need for power. Additionally, the demand for wind energy is also surging in this region which is also boosting demand for medium voltage circuit breakers.  

European Market Analysis

The medium voltage circuit breaker in Europe is also estimated to have significant growth during the forecast period. The growth of the medium voltage circuit breaker market in this region is set to be influenced by the growing adoption of IoT in medium-voltage circuit breakers. It improves the efficiency of the circuit breaker by helping with power management. that everything stays dependable and stable.