Albany, NY -- (SBWIRE) -- 03/13/2015 -- As per a study by a leading firm in the U.S., the circuit breaker market was earlier valued at US$11.16 billion in 2012. However, the market is rising at a considerable CAGR of 5.2% from 2013 to 2019, and is expected to reach US$15.90 billion by 2019.

Emergence of Circuit Breaker Market – Overview

The need for smoother and better-quality life is through the availability of electricity. Worldwide, rise in disposable income, rapid urbanization, and industrialization has exponentially increased the standard of living, which in turn has increased the consumption of electricity.

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The critical need for reliable power supply is based on effective transmission systems. A circuit breaker precisely does this job well. It is an electrical switch that protects an electric circuit from overloading or short-circuiting. Thus, in case of overloading of electricity in a specific area, a circuit breaker will automatically switch off the power supply for safety purposes.

Circuit breakers can control low, medium, and high-voltage transmission systems. Due to high use of electricity in industrial spaces, high voltage circuit breakers and fuses are often deployed to protect the transmission and distribution systems. The expansion and advancement of the transmission network is propelling growth into the circuit breaker market on a broader level.

Currently, the market has witnessed a surge of new development with availability of compact circuit breakers that offer negligible maintenance services in comparison to conventional circuit breaker technologies. With rising concern for safety in electrical, electronic, telecommunication, and automotive equipment, the need for circuit breakers has increased considerably in the global market.

Global Circuit Breakers and Fuses Market – By Segment Analysis

Due to cost competitiveness, the circuit breaker market by voltage level of installation is segmented by low voltage circuit breakers (LVCB), medium voltage circuit breakers (MVCB) and high voltage circuit breakers (HVCB). Circuit breakers offered in each of these types cater to the demand of residential, as well as non-residential building constructions, non-automotive transportation equipment, electronic equipment, and other automotive and electrical equipment.

Driven by a rebound in new housing development activities, the residential construction market will lead high gains in the coming years.

Considering the market by arc quenching media type, it is further segmented by vacuum circuit breakers, SF6 circuit breakers, oil circuit breakers, air circuit breakers, and others. In addition, many other kinds of fuses covered under this segment include high voltage fuses and low voltage fuses such as, plug-in fuses and cartridge fuses.

Analysis by Geography

Geographically, North America dominated the circuit breakers market in 2012. However, other emerging regions in Asia Pacific such as, India, Korea, Japan, Taiwan, and China are expected to be the fastest growing regions in the coming years. Increased demand from the APAC is due to the rapid expansion of power generation and transmission industry, urbanization, and growth in construction and transportation sectors among many others. Moreover, initiatives to replace old and worn out power infrastructure in most of the regions has also been one of the main contributing factors of the circuit breaker market.

Indeed, circuit breakers act as potential protecting devices by minimizing fault in electrical environment. Nevertheless, the choice between circuit breakers and fuses are chiefly governed by maintenance, space, customer maintenance, and other environmental restraints. Technical requirements and economic considerations propel inclination towards further developments in the global market.

Circuit Breaker Market – Future Growth

As power breakers massively benefit from non-utility generators, independent power producers, and electrical smart grid systems, circuit breakers will outperform traditional fuses in the near future. In 2012, the circuit breaker market held majority of the shares over fuses. Owing to the wide emergence of smart grid technology and devices, and various efforts taken by governments to impose new regulations to make a significant impact on the energy efficiency, worldwide a boost in demand for circuit breakers is notably witnessed on a global level.

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