Circuit Breakers and Fuses Market Predicted 6.5% CAGR During 2016 to 2021
Global Circuit Breakers and Fuses Market, 2014-2020: By drivers and restrain, Technology, Application, Size & Share
Deerfield Beach, FL -- (SBWire) -- 11/09/2017 --Circuit breakers and fuses are semiconductor instruments used for preventing accidents due to short circuit or overload of energy supply. Circuit breakers and fuses safeguard the connections from the high voltage damages. Circuit breakers work as a barrier and break or trip the connections whereas fuses offer resistance to the flowing current. Thus, they are broadly employed in the fields of consumer electronics, construction, automotive, power industry and others.
According to the report, global demand for circuit breakers and fuses market was valued at USD 21.0 billion in 2014 and is expected to reach USD 32.0 billion in 2020, growing at a CAGR of 6.5% between 2015 and 2020. Zion Market Research has published a new report titled "Circuit Breakers and Fuses Market by Type (Air, Vacuum, Oil, SF6 and Others), by Voltage (Low Voltage, Medium Voltage and High Voltage) for Automotive, Consumer Electronics, Construction, Power Generation, Industrial and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014-2020."
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Global circuit breakers and fuses market is mainly driven by vast progress in the industrial and construction sector. Advancing trends in construction industry attract the attention of consumers and manufacturers for circuit breakers and fuses. The sharp rise in demand for circuit breakers and fuses in homes, industries, offices applications is anticipated to foster the demand for energy consumptions. However, the tough competition on the pricing of circuit breakers and fuses is projected to lower down the growth of the market in the near future. Furthermore, innovations in trend and technology can reveal new approach for the expansion of the market during the coming years.
Air, vacuum, oil and SF6 circuit breakers are the key types of circuit breakers and they are also classified in voltage as the low, medium and high voltage circuit breakers. The low voltage circuit breaker was one of the largest contributors to the market in 2014 and this trend is predicted to continue within the forecast period owing to enormous and fastest improvement in power grids.
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Based on applications, global circuit breakers and fuses market can be segmented into automotive, consumer electronics, construction, power generation, industrial, and others. Power generation was dominating application and contributed to around 40% share of global circuit breakers and fuses market in 2014. Escalating demand for protective and efficient power installation and generation is likely to accelerate the market growth during the years between 2015 and 2020. Emerging automotive industry in Asia Pacific is projected to help the help the circuit breakers and fuses market grow at a significant rate within the forecast period.
North America was the leading regional market for circuit breakers and fuses and accounted more than 30% share of the total revenue generated in 2014. North America is closely followed by Asia Pacific in terms of demand in 2014. The Asia Pacific expected to dominate the global circuit breakers and fuses market by the end of 2020. With increased urbanization, growth in demand for energy consumption is expected to have lucrative growth during 2016 to 2020.
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Some of the key player for globe circuit breakers and fuses market includes Toshiba Corporation, Alstom SA., G&W Electrics Company, Maxwell Technologies Ltd, General Electric Corp., Pennsylvania Breaker LLC, ABB Ltd., Siemens AG, and Mitsubishi Electric amongst other.
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