Global Circuit Breaker Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Installation (Indoor, Outdoor), By Insulation type (Air Circuit Breaker, Oil Circuit Breaker, Gas Circuit Breaker, Others), Rated Voltage (Rated Voltage, Up to 500V, 500V – 15kV, 15kV – 600kV, Above 600kV), By End-users (Industrial, Commercial, Residential), and By Geography - Forecasts From 2021 To 2026

The global circuit breaker market is projected to reach US$8.196 billion by 2026, at a CAGR of 6.08%, from an estimated US$5.422 billion in 2019. The market is expected to be driven by the increasing projects of renewable energy, efficient energy infrastructure, and increasing developmental projects, as they are in turn increasing the demand for electricity consumption (especially in developing countries).  Rapid industrialization and urbanization in the countries along with the use of sustainable energy sources (renewable energy) cater to the increase in demand for power consumption in the economies, which in turn is increasing the demand for circuit breakers in the upcoming years. Though, intense competition from the gray market and stringent environmental and safety regulations are impacting the market. As the gray market is the unorganized sector which supplies low-quality products at a competitive price in the market. Gray market distribution channel is more wide range across the different regions among the consumers which also hinders the growth of the companies in the circuit breaker market. For the companies, there are growth opportunities in developing countries (smart cities), power infrastructure development, and HVDC transmissions. In other words, companies with new innovations and research & development in infrastructure facilities and products have positive growth in the upcoming future.

By insulation type, the market is segmented as air circuit breakers, oil circuit breakers, gas circuit breakers, and others. Among them, there is potential growth in the air circuit breakers’ market due to an increase in renewable energy, as the demand for ACBs will increase because it helps to manage the load in power plants. Hence, ACBs will hold a significant market share. By installation type, the market is segmented into outdoor and indoor. Among them, outdoor is projected to hold a significant market share, while by voltage type, the market is segmented into low, medium, and high voltage, where medium and high voltage holds the substantial market share because of the potential growth in ACBs segment. This does not mean that the low voltage segment won’t have growth in the forecast period, the demand for home appliances with low voltage is also increasing which will cater to the growth of the low voltage. This also implies that among end-users, industrial uses will significantly the market. By rated voltage, 15-50kV will have a significant market share due to increasing demand from commercial and industrial uses.

Covid-19 impact on Circuit Breaker Market

Due to the pandemic, the growth of the circuit breaker market has a slowdown in 2020 but is expected to regain its growth in the forecast period because of the rising demand and developmental projects in the countries along with the support of the government initiatives. In the upcoming future, the government is promoting sustainable development with efficient energy consumption through the use of renewable energy sources, which require circuit breakers to prevent damages, short-circuits, and transmission issues.  Covid-19 has affected the global circuit breaker market severely as the demand for power consumption falls which in turn impacted the manufacturing and construction activities in this market. People are working from home, which has reduced the demand for power consumption especially in commercial and manufacturing sectors, and hence, affecting the circuit breaker market.

The global pandemic put pressure on the healthcare sector and reduces investment in the power industry. This has impacted the growth of the circuit breaker market, although, the growing demand for renewable energy is boosting the demand for circuit breakers to prevent short circuits and damages in industrial applications such as hotels, commercial buildings, and so on.

Competitive insights

As we know, industrialization will bring several investment opportunities along with it. In-circuit breaker market, investment opportunities are coming up in industrial and commercial sectors as industrial developments bring the demand for the circuits along with the growth potential.

Recent Development

Recently, ABB India has launched Formula DIN-Rail (a wide range of MCBs and RCCBs) and isolators for the electrical retail market for residential and commercial units to produce protection from damages such as overload, short circuits, and earth leakages. In 2020, Siemens has launched arc-resistant and non-arc resistant type SDV-R for medium voltages into the market for renewable energy applications. Siemens has acquired the company, C&S Electric to grow further in developing countries for electronification products. Eaton Cummins Automated Transmission Technologies has expanded itself by expanding its Endurant series. Circuit Breaker Sales NE has acquired one company in 2018 in the US state. The company is majorly targeting the electrical equipment sector.

APAC to witness lucrative growth.

The Asia Pacific is predicted to have an attractive region for the global circuit breaker market and will have a significant share of the market, due to the increasing population in this region, and hence, the demand for power consumption is booming there. Another reason is industrialization and economic development, especially in China, India, South Korea, and Japan. Given that the government is promoting renewable energy sources, there is an increase in developments related to renewable energy generation in this region, there is a need to combine this generation with the current electrical infrastructure, which in turn will further promote the circuit breaker market, mainly for air circuit breakers.

On the other hand, North America has the potential growth due to the growth in the manufacturing sector because of the increasing demand for electrical machinery, while the European region has strong transmission and distribution infrastructure which in turn is attracting good investment options there.

The Middle East and Africa demand for circuit breakers mainly coming from the oil and gas industry, where Africa is mainly focusing on the infrastructure aspects of the power supply.

Circuit Breaker Market Scope:

Report Metric	Details
Market Size Value in 2019	US$5.422 billion
Market Size Value in 2026	US$8.196 billion
Growth Rate	CAGR of 6.08% from 2019 to 2026
Base Year	2019
Forecast Period	2021–2026
Forecast Unit (Value)	USD Billion
Segments Covered	Installation, Insulation type, Rated Voltage, End-users, And Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	ABB Ltd, CG Power and Industrial Solutions Limited, Eaton Corporation, Larsen &   Toubro Ltd, BEL Fuse Inc., Salzer Group, Atom Power Inc, Camso Electric, Toshiba,   Siemens AG, Mitsubishi Electric Corp, Fuji Electric, Powell Industries Inc, Hawker   Siddeley Switchgear, Tavrida Electric
Customization Scope	Free report customization with purchase.

 

Segmentation:

• By Installation
  • Indoor
  • Outdoor
• By Insulation type
  • Air Circuit Breaker
  • Oil Circuit Breaker
  • Gas Circuit Breaker
  • Others
• By Rated Voltage
  • Up to 500V
  • 500V – 15kV
  • 15kV – 600kV
  • Above 600kV
• By End-users
  • Industrial
  • Commercial
  • Residential
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • Spain
    • United Kingdom
    • France
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • Others
  • Asia Pacific
    • China
    • Japan
    • Australia
    • India
    • Others

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1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Circuit Breaker Market Analysis, By Installation 
5.1. Introduction
5.2. Indoor
5.3. Outdoor
6. Global Circuit Breaker Market Analysis, By Insulation Type
6.1. Introduction
6.2. Air circuit breaker
6.3. Oil circuit breaker
6.4. Gas circuit breaker
6.5. Others
7. Global Circuit Breaker Market Analysis, By Rated voltage
7.1. Introduction
7.2. Up to 500V
7.3. 500V – 15kV
7.4. 15kV – 600kV
7.5. Above 600kV
8. Global Circuit Breaker Market Analysis, By End-users
8.1. Introduction
8.2. Industrial
8.3. Commercial
8.4. Residential
9. Global Circuit Breaker Market Analysis, by Geography  
9.1.  Introduction
9.2.  North America  
9.2.1. North America Circuit Breaker Market Analysis, By Installation, 2020 to 2026
9.2.2. North America Circuit Breaker Market Analysis, By Insulation type, 2020 to 2026
9.2.3. North America Circuit Breaker Market Analysis, By Rated voltage, 2020 to 2026.
9.2.4. North America Circuit Breaker Market Analysis, By End-users, 2020 to 2026
9.2.5. By Country
9.2.5.1.  United States
9.2.5.2.  Canada
9.2.5.3.  Mexico
9.3. South America  
9.3.1. South America Circuit Breaker Market Analysis, By Installation, 2020 to 2026
9.3.2. South America Circuit Breaker Market Analysis, By Insulation type, 2020 to 2026
9.3.3. South America Circuit Breaker Market Analysis, By Rated voltage, 2020 to 2026
9.3.4. South America Circuit Breaker Market Analysis, By End-users, 2020 to 2026
9.3.5. By Country
9.3.5.1.  Brazil
9.3.5.2.  Argentina
9.3.5.3.  Others
9.4. Europe  
9.4.1. Europe Circuit Breaker Market Analysis, By Installation, 2020 to 2026
9.4.2. Europe Circuit Breaker Market Analysis, By Insulation type, 2020 to 2026
9.4.3. Europe Circuit Breaker Market Analysis, By Rated voltage, 2020 to 2026
9.4.4. Europe Circuit Breaker Market Analysis, By End-users, 2020 to 2026
9.4.5. By Country
9.4.5.1.  Germany
9.4.5.2.  Spain
9.4.5.3.  United Kingdom
9.4.5.4.  France
9.4.5.5.  Others
9.5. The Middle East and Africa  
9.5.1. Middle East and Africa Circuit Breaker Market Analysis, By Installation, 2020 to 2026
9.5.2. Middle East and Africa Circuit Breaker Market Analysis, By Insulation type, 2020 to 2026
9.5.3. Middle East and Africa Circuit Breaker Market Analysis, By Rated voltage, 2020 to 2026
9.5.4. Middle East and Africa Circuit Breaker Market Analysis, By End-users, 2020 to 2026
9.5.5. By Country
9.5.5.1.  Saudi Arabia
9.5.5.2.  South Africa
9.5.5.3.  Others
9.6. Asia Pacific  
9.6.1. Asia Pacific Circuit Breaker Market Analysis, By Installation, 2020 to 2026
9.6.2. Asia Pacific Circuit Breaker Market Analysis, By Insulation type, 2020 to 2026
9.6.3. Asia Pacific Circuit Breaker Market Analysis, By Rated voltage, 2020 to 2026
9.6.4. Asia Pacific Circuit Breaker Market Analysis, By End-users, 2020 to 2026
9.6.5. By Country
9.6.5.1.  China
9.6.5.2.  Japan
9.6.5.3.  Australia
9.6.5.4.  India
9.6.5.5.  Others
10.  Competitive Environment and Analysis
10.1.  Major Players and Strategy Analysis
10.2.  Emerging Players and Market Lucrativeness
10.3.  Mergers, Acquisitions, Agreements, and Collaborations
10.4.  Vendor Competitiveness Matrix
11.  Company Profiles
11.1. ABB Ltd
11.2. CG Power and Industrial Solutions Limited
11.3. Eaton Corporation
11.4. Larsen & Toubro Ltd
11.5. BEL Fuse Inc.
11.6. Salzer Group
11.7. Atom Power Inc
11.8. Camso Electric 
11.9. Toshiba
11.10. Siemens AG
11.11. Mitsubishi Electric Corp
11.12. Fuji Electric
11.13. Powell Industries Inc
11.14. Hawker Siddeley Switchgear
11.15. Tavrida Electric

ABB Ltd

CG Power and Industrial Solutions Limited

Eaton Corporation

Larsen & Toubro Ltd

BEL Fuse Inc.

Salzer Group

Atom Power Inc

Camso Electric

Toshiba

Siemens AG

Mitsubishi Electric Corp

Fuji Electric

Powell Industries Inc

Hawker Siddeley Switchgear

Tavrida Electric