The global circuit breaker and fuse market is expected to reach USD 18.92
billion by 2022, according to a new report by Grand View Research, Inc.
Replacement of electromechanical and mechanical devices with electronic
equipment is expected to drive demand in manufacturing and industrial sector.
Increasing construction and infrastructure
activities using different components in residential and commercial projects
such as MCBs, protective relays, air and gas circuit breakers is expected to
boost demand.
Technological advancements such as emergence of
generator circuit breakers in natural gas power plants are further expected to
boost the demand. Moreover, significant investment transmission grid has
surpassed the need of replacing worn out energy infrastructure which is
expected to provide significant opportunities for the circuit breaker and fuse
industry.
Growing focus on increasing the functionality of
power system apparatus to facilitate better system asset management and improve
electrical power quality is expected to drive the market over the next seven
years. However, high cost of raw materials such as gold and silver used for
component wiring are expected to hamper growth.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/circuit-breaker-and-fuse-market
Further key findings from the study suggest:
·
Low voltage circuit breaker market accounted for
over 35% of the overall share in 2014. These are generally used in industrial,
commercial and domestic applications. They are rated less than 1000 VAC or 1500
V DC and are primarily used for DC applications.
·
The vacuum technology segment accounted for over
25% of the overall industry in 2014 and is expected to increase over the next
seven years. This growth can be attributed to features such as less power
requirement for control mechanism and growing demand for small and cost
competitive vacuum components.
·
SF6 segment is expected to grow at a CAGR of
7.8% from 2015 to 2022. Low electromagnetic emissions and low noise levels make
them suitable for residential areas. SF6 products are suitable for harsh
environments such as offshore oil platforms, high altitude locations which may
also boost sales for these products.
·
Low voltage fuse market is expected to grow at a
CAGR of over 4.5% from 2014 to 2022. Growing demand in automotive applications
for auto-recloser breakers is gaining prominence.
·
Power generation application segment accounted
for over 20% of the revenue in 2014. It is projected to maintain its dominance
during the forecast period primarily due to a rapid increase in installation of
smart grids.
·
Asia Pacific circuit breaker and fuse market is
expected to witness significant growth over the forecast period. It accounted
for over 30% of the industry share in 2014 and is estimated to exhibit high
growth prospects over the next seven years.
·
Notable companies dominating the industry
include ABB Ltd, GE, Schneider Electric, Mitsubishi Electric, and Eaton
Corporation. Several legal and regulatory frameworks are anticipated to
positively impact the competition.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/semiconductors
Grand View Research has segmented
the circuit breaker and fuse market on the basis of product, application, and
region:
Product Outlook (Revenue, USD
Million, 2012 – 2022)
- Circuit breaker market by voltage level of installation
- Low voltage
- Medium voltage
- High voltage
- Circuit breaker market by arc quenching media type
- Air
- Vacuum
- Oil
- SF6
- Others
- Fuse market by voltage level of installation
- Low voltage
- High voltage
Application Outlook (Revenue, USD
Million, 2012 – 2022)
- Construction
- Transport
- Industrial
- Consumer Electronics
- Power Generation
- Others
Regional Outlook (Revenue, USD
Million, 2012 – 2022)
- North America
- Europe
- Asia Pacific
- RoW
No comments:
Post a Comment