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 2024-2031

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.