(MENAFN- GlobeNewsWire - Nasdaq) New York, United States , May 17, 2023 (GLOBE NEWSWIRE) -- The Global Circuit Breaker and Fuse Market Size is to grow from USD 17.23 billion in 2022 to USD 31.15 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period.
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Circuit breakers and fuses are electrical safety devices that protect electrical circuits and devices from damage due to overcurrent. A circuit breaker is an automatic device that trips and interrupts the circuit when an excessive current flow through it. It can be reset manually after tripping. A fuse, on the other hand, is a one-time-use device that melts and interrupts the circuit when an excessive current flow through it. It must be replaced after melting. Both circuit breakers and fuses serve the same purpose of protecting electrical devices and circuits from damage caused by overcurrent, but they operate in different ways.
Report Coverage
This research report categorizes the market for circuit breaker and fuse market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the circuit breaker and fuse market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the circuit breaker and fuse market.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on " global circuit breaker and fuse market size , Share, and COVID-19 Impact Analysis, By Component (Circuit Breaker and Fuse), By Circuit Breaker Voltage (Low Voltage, Medium Voltage, and High Voltage), By Technology (Air Blast Circuit Breakers, Vacuum Circuit Breakers, Oil Circuit Breaker, SF6 Circuit Breaker, and Others), By Fuse Voltage (Low voltage and High voltage), By Application (Construction, Consumer Electronics, Industrial, Power Generation & Distribution, Transport, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The circuit breaker segment is expected to grow at a CAGR of 6.4% during the forecast period.
Based on components, the global circuit breaker and fuse market is segmented circuit breaker and fuse. The circuit breaker segment in the circuit breaker and fuse market is expected to witness significant growth due to the increasing demand for reliable and efficient power supply. The adoption of renewable energy sources and the development of smart grids are also expected to contribute to the growth of the market. Additionally, the increasing need for infrastructure development, including power generation, transmission, and distribution, will boost the demand for advanced circuit breakers. The circuit breaker segment is expected to remain a key growth driver in the global circuit breaker and fuse market.
The construction segment is anticipated to grow at a CAGR of 6.8% during the forecast period.
Based on application, the global circuit breaker and fuse market are segmented into Construction, Consumer Electronics, Industrial, Power Generation & Distribution, Transport, and Others. The construction segment is anticipated to grow at a higher CAGR during the forecast period due to the increasing demand for residential, commercial, and infrastructure construction. Circuit breakers and fuses are critical components for ensuring safe and reliable electrical systems in buildings and infrastructure projects. The growing need for energy-efficient buildings and the adoption of smart building technologies have further boosted the demand for advanced circuit breakers and fuses. The construction segment is expected to continue dominating the market due to ongoing urbanization and infrastructure development in emerging economies.
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Asia-Pacific is predicted to grow at a higher CAGR of 7.2% over the projected period.
Based on region, the Asia-Pacific region is expected to continue growing in the circuit breaker and fuse market due to several factors. One of the key drivers is the ongoing urbanization and industrialization of the region, which is leading to an increasing demand for reliable and efficient power supply. The adoption of renewable energy sources and the development of smart grids are also expected to contribute to the growth of the market. Additionally, the region is witnessing an increasing need for infrastructure development, including power generation, transmission, and distribution, which will boost the demand for circuit breakers and fuses. Overall, the Asia-Pacific market is expected to remain a key growth region in the global circuit breaker and fuse market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global circuit breaker and fuse market include ABB Ltd., Bel Fuse Inc., Schneider Electric SE, Mitsubishi Electric Corporation, Eaton Corporation PLC, General Electric Company, Siemens AG, Rockwell Automation, Inc., Larsen & Toubro Limited, NXP Semiconductors N.V., SCHURTER Holding AG, Sensata Technologies Holding PLC, and Texas Instruments Incorporated.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global circuit breaker and fuse market based on the below-mentioned segments:
Circuit Breaker and Fuse Market, By Component
Circuit Breaker and Fuse Market, By Circuit Breaker Voltage
Low Voltage Medium Voltage High Voltage
Circuit Breaker and Fuse Market, By Technology
Air Blast Circuit Breakers Vacuum Circuit Breakers Oil Circuit Breaker SF6 Circuit Breaker Others
Circuit Breaker and Fuse Market, By Fuse Voltage
Circuit Breaker and Fuse Market, By Application
Construction Consumer Electronics Industrial Power Generation & Distribution Transport Others
Circuit Breaker and Fuse Market, Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of Middle East & Africa
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