USD 14.28 billion
Circuit Breaker & Fuse Market Size, Share, Growth Analysis, By Insulation type(Vacuum Circuit Breaker, Air Circuit Breaker, Gas Circuit Breaker, Oil Circuit Breaker), By Voltage(Medium voltage, high voltage), By Installation(Indoor, Outdoor), By End-User(T&D Utilities, Power Generation, Renewables, Railways), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20D2033 |
Region:
Global |
Published Date: February, 2024
Pages:
248
|Tables:
117
|Figures:
77
Circuit Breaker & Fuse Market Insights
Circuit Breaker & Fuse Market size was valued at USD 15.05 Billion in 2023 and is poised to grow from USD 15.86 Billion in 2024 to USD 23.84 Billion by 2032, growing at a CAGR of 5.4% during the forecast period (2025-2032).
A circuit breaker & fuse is designed to protect an electrical circuit from damages caused by excess current from an overload or short circuit. Its primary function to interrupt current flow after a fault is detected is fuelling its demand in the market. An electrical fuse is an electrical safety device, which operates to provide overcurrent protection of an electrical circuit. The future outlook on the circuit breaker and fuse market is anticipated to grow owing to the increase in investments in power infrastructure, expansion of smart grid systems, and the integration of renewables sources along with the growing demand for advanced electrical protection devices.
The market is expected to prosper owing to the increasing need for upgrades for efficient networks and renewable energy connectivity. Transmission outage shifts the electricity around the blockage onto adjacent lines. The total amount invested in the production of renewable energy in 2019 was approximately USD 300 billion. A total of USD 308 billion was discovered to have been invested globally in the power sector's use of renewable energy in 2019. A specialised protective mechanism is quintessential for renewable energy sources like solar and wind power. As a result, in order to link power generation facilities to switchyards and the electrical grid, circuit breakers and fuses are needed. As it protects the power system and controls the supply, its demand will increase during the anticipated period.
The growing concerns over the reliability of renewable power have boosted the market for renewable generation and distribution, in turn, driving the global industry growth.
US Circuit Breaker & Fuse Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Gas circuit breaker
Fastest Growth
Gas circuit breaker
Growth Rate
5.4% CAGR
Global Circuit Breaker & Fuse Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Circuit Breaker & Fuse Market Segmental Analysis
Global Circuit Breaker & Fuse market is segmented on the basis of insulation type, voltage, installation, end user, and region. By insulation type, the market is segmented into vacuum circuit breaker, air circuit breaker, gas circuit breaker, and oil circuit breaker. By voltage, the market is segmented into medium voltage and high voltage.
By installation, the market is segmented into indoor and outdoor. By end user, the market is segmented into T&D utilities, power generation, renewable, and railways. By region, the market is segmented into North America, Asia Pacific, Europe, MEA, and Latin America.
Circuit Breaker & Fuse Market Analysis by Insulation Type
The gas circuit breaker segment is expected to lead the insulation segment during the forecast period as it has high dielectric properties and requires less space. Europe will hold the largest share of the gas circuit breaker segment as this region is investing in renewable energy to upgrade their existing products.
Circuit Breaker & Fuse Market Analysis by Installation Type
The outdoor segment is expected to hold the largest share of the installation segment as the demand for installing solar and wind power plants are increasing. Rising number of infrastructure developments due to high rates of urbanization will further boost demand for the outdoor installation segment.
Circuit Breaker & Fuse Market Analysis by Voltage Type
The high voltage segment will hold the largest share of the circuit breaker & fuse market voltage in 2022. The growth of the High Voltage segment is driven by investments in electrical transmission networks to propel the demand for high voltage Circuit Breaker & Fuses.
The market for the High Voltage segment in Asia Pacific is expected to grow at the highest CAGR during the forecast period. With the increasing demand for electricity in residential areas and to provide power supply with high reliability, many utilities are investing in high-voltage Circuit Breaker & Fuses, which is expected to drive the Circuit Breaker & Fuse Market.
Global Circuit Breaker & Fuse Market, 2021-2028 (%)
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Circuit Breaker & Fuse Market Regional Insights
Asia Pacific accounted for the largest share in 2022. China is the fastest-growing market in the region. China is considered the leading country in the world in power transmission & distribution.
The country mostly focuses on developing transmission lines that are capable of high-load transfer over long distances and creating a nationwide reliable power system. There are rapid development and growth of renewable energy projects such as wind and solar in China and other emerging economies.
The Government of China has passed the Renewable Energy Law, that would target 20% of the primary energy consumption from renewable sources by 2022. Subsequently, resulting in increased demand for circuit breaker & fuse market in this region.
North America is also expected to lead the global circuit breaker & fuse market as it has the dominance of key players and the government’s investment in developing novel technologies. This region is also witnessing massive growth in construction industry, thus further boosting the market growth.
Europe will emerge in the global competition due to its aim to replace older version with technologically advanced products. Players in this region are investing in R&D activities to expand and upgrade their product portfolio and cater rising demand for renewable power alternatives.
Global Circuit Breaker & Fuse Market By Geography, 2021-2028
- Largest
- Fastest
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Circuit Breaker & Fuse Market Dynamics
Circuit Breaker & Fuse Market Driver
Rising investment in renewable power sector in countries is expected to boost demand
- Global investments in the power sector in renewable power industry were found to be worth USD 328 billion in 2022. Renewable sources such as photovoltaic and wind generators require a dedicated protection system. Hence, the Circuit Breaker & Fuse is required to connect the power generating stations to switchyards and the electrical grid, making it pivotal for the industry. It is one of the most important and critical components in an electrical system.
- Its demand is surging globally as it ensures power system protection and regulates power supply. Growing concerns over the reliability of renewable power has boosted the market for renewable generation and distribution, in turn, driving the global circuit breaker & fuse market.
Circuit Breaker & Fuse Market Restraints
The global market is likely to face restrain due to high-cost installation and stringent policies against SF6
- The Kyoto Protocol stipulates the reduction of emissions. Currently, no nearest alternative could work as efficiently as SF6. Thus, high procurement costs, along with policies against SF6, are expected to hamper growth of circuit breaker & fuse in global market.
- Imperfect joints in the manufacturing of SF6 Circuit Breaker & Fuses lead to the leakage of the SF6 gas, which is a choking gas to some extent. At the time of leakage in the breaker tank, the SF6 gas settles in the surroundings as it is heavier than air, and this gas precipitation may lead to the suffocation of the operating personnel. The arced form of the SF6 gas is poisonous and can be harmful if inhaled, thus hindering the growth of global circuit breaker & fuse market during the forecast period.
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Circuit Breaker & Fuse Market Competitive Landscape
The global Circuit Breaker & Fuse market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing on several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
Circuit Breaker & Fuse Market Top Player’s Company Profiles
- ABB Ltd.
- Alstom SA
- Eaton Corporation
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corporation
- General Electric
- Toshiba Corporation
- Honeywell International Inc.
- Legrand SA
- Rockwell Automation Inc.
- Larsen & Toubro Limited
- TE Connectivity Ltd.
- Hubbell Incorporated
- S&C Electric Company
- Powell Industries Inc.
- Fuji Electric Co. Ltd.
- Littelfuse Inc.
- Mersen SA
- Entec Electric & Electronic Co. Ltd.
Circuit Breaker & Fuse Market Recent Developments
-
Eaton announced a purchase of 50% share of Jiangsu Huineng Electric Co., Ltd. In 2022. The share pertains to its circuit breaker division. This partnership is expected to bring lucrative growth opportunities for the industry players.
-
The replacement of traditional infrastructure with tech-oriented setup is highly expected.
Circuit Breaker & Fuse Key Market Trends
- Increasing use of AI and IoT: The market has evolved with the use of AI and IoT and is expected to continue incorporating these technologies in electrical industry. To overcome manual challenges, AI technologies are more likely to appear solution-oriented
- Increase in sales of EVs and automotive: The increasing demand for electric vehicles and charging stations are likely to enhance the need for electric fuses in the coming years.
Circuit Breaker & Fuse Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to global circuit breaker & fuse market analysis report, the global market is witnessing a strong growth during the forecast period owing to rising demand for advanced equipment in electronics, automotive and telecommunication segments. However, strict environmental & safety policies for SF6 Circuit Breaker & Fuses may hamper the growth of market. However, focus on smart cities and aging power infrastructure are two important factors that will drive the growth of the market in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 14.28 billion |
| Market size value in 2031 | USD 22.62 billion |
| Growth Rate | 5.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Circuit Breaker & Fuse Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Circuit Breaker & Fuse Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Circuit Breaker & Fuse Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Circuit Breaker & Fuse Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Circuit Breaker & Fuse Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Circuit Breaker & Fuse Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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