Circuit Breaker Market Size By Voltage (Low {ACB, MCCB, MCB, Others}, Medium {VCB, ACB, GCB, Others}, High {ACB, VCB, OCB, GCB}), By Rated Voltage (< 500 V, 500 V to 1 kV, 1 to 15 kV, 15 to 50 kV, 50 to 70 kV, 70 kV to 145 kV, 145 kV to 300 kV, 300 kV to 550 kV, 550 kV to 800 kV, > 800 kV), By Rated Current (< 500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 4500 A, > 4500 A), By Installation (Indoor, Outdoor), By Application (Power Distribution {By Rated Voltage [< 500 V, 500 V to 1 kV, 1 to 15 kV, 15 to 50 kV, 50 to 70 kV, 70 kV to 145 kV, 145 kV to 300 kV, 300 kV to 550 kV, 550 kV to 800 kV, > 800 kV], By Rated Current [< 500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 4500 A, > 4500 A]}, Power Transmission {By Rated Voltage [< 500 V, 500 V to 1 kV, 1 to 15 kV, 15 to 50 kV, 50 to 70 kV, 70 kV to 145 kV, 145 kV to 300 kV, 300 kV to 550 kV, 550 kV to 800 kV, > 800 kV], By Rated Current [< 500 A, 500 to 1500 A, 1500 to 2500 A, 2500 to 4500 A, > 4500 A]}), By End Use (Residential, Commercial {Hospitality, Healthcare, Education, Workspaces, Retail & Wholesalers, Others}, Industrial { Oil & Gas, Metal & Mining, Arc Furnace, Railway, Others}, Utility), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030

Industry Drivers

Circuit Breaker Market size exceeded USD 15 billion in 2021 and is projected to expand at a CAGR of over 7% from 2022 to 2030. With the rising government investments and regulatory provisions to expand microgrid networks, the demand for electrical safety devices including circuit breakers will increase. Furthermore, the rising emphasis on the modernization of grid infrastructure and expansion of smart grids will support the industry development.
 

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Impact of COVID-19 on the Circuit Breaker Market

The economic disruptions due to the COVID-19 outbreak have resulted in a significant decline in spending across the electricity sector, especially in 2020. However, investment in infrastructure and power grid projects have witnessed a steady recovery worldwide. Based on data from the International Energy Agency, investments in electricity grids were estimated to grow by 10% in 2021. Development such as these may generate lucrative growth opportunities for the market.
 

Concerns regarding raw material prices may hinder the market growth

Electric component manufacturers require high-quality raw materials to design circuit breaker parts to ensure minimum maintenance and reliable functioning. However, there have been growing concerns associated with the export quotas of volatile raw materials, which has led to an increase in their prices. These concerns regarding the high prices of raw materials may create roadblocks for the global industry expansion.
 

High-voltage circuit breakers to witness massive popularity

The high voltage segment in the circuit breaker market will reach an annual installation of over 400,000 units by 2030, attributed to substantial rise in industrial and commercial deployments. The need for different circuit breaker types across primary and secondary distribution channels has also increased. This factor, alongside the expansion of T&D (transmission and distribution) networks, will fuel the segment growth.
 

2500A to 4500A circuit breakers to gain significant traction

The 2500A to 4500A segment is anticipated to depict around 7% CAGR through 2030. The burgeoning adoption of these medium- and high-current circuit breakers is owing to their ease of installation and low costs. Moreover, this product type is also associated with effective corrosion resistance, which is increasing its demand among customers.
 

APAC to emerge as a lucrative revenue pocket for market

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From a regional perspective, Asia Pacific circuit breaker market dominated around 44% revenue share in 2021, driven by increasing need for the restoration of electrical setups. The mounting investment in the energy infrastructure sector is also a major factor responsible for the regional market growth. Reliability, economical costs, longevity, and operational flexibility are also some of the key factors contributing to regional industry expansion, predominantly in Indonesia and Thailand.
 

Expansion of on-site power generation tech to boost outdoor circuit breaker installation

The outdoor installation segment is poised to hold substantial market share in the coming years. This is credited to the surging installation of on-site power generation technology. Furthermore, the rapid expansion of utility-based power transmission networks will further escalate the demand for circuit breakers for outdoor installation.
 

Rapid suburban migration to push the residential segment growth

The residential segment accounted for 30% circuit breaker market share in 2021. The escalating usage of electric circuit breakers across the residential sector is attributed to large-scale suburban migration. Additionally, the rapid urbanization and the introduction of favorable regulatory norms will also drive segment development.
 

Rapid commercial expansion to augment market share from the 70kV to 145kV segment

The 70kV to 145kV segment is expected to account for a major market share during the forecast spell, led by mounting adoption of circuit breakers up to 145kV in the residential sector. Likewise, the rapid commercial expansion in emerging economies will broaden the application scope of 70kV to 145kV circuit breakers.
 

Product range expansion strategies to push the circuit breaker industry expansion

Some of the key industry players include ABB, Eaton, Toshiba International Corporation, Schneider Electric, Hyundai Electric & Energy Systems Co., Ltd., Mitsubishi Electric Corporation, GE, and Siemens Energy. These companies are focusing on new product launches and business expansions to strengthen their footprint in the market.
 

For example, in May 2022, ABB unveiled Formula DIN-Rail, a range of miniature and residual current circuit breakers for the electrical retail industry across India. The product portfolio was intended to offer contemporary design and optimum protection to electrical circuits. This launch also helped the company establish a firm presence in the Indian market.
 

This circuit breaker market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2018 to 2030, for the following segments:

Market, By Voltage

• Low 
  • ACB
  • MCCB
  • MCB
  • Others
• Medium 
  • ACB
  • GCB
  • VCB
  • Others
• High 
  • ACB
  • VCB
  • GCB
  • OCB

Market, By Rated Voltage

• < 500 V
• 500 V to 1 kV
• 1 to 15 kV
• 15 to 50 kV
• 50 to 70 kV
• 70 kV to 145 kV
• 145 kV to 300 kV
• 300 kV to 550 kV
• 550 kV to 800 kV
• 800 kV

Market, By Rated Current

• < 500 A
• 500 to 1,500 A
• 1,500 to 2,500 A
• 2,500 to 4,500 A
• > 4,500 A

Market, By Installation

• Indoor
• Outdoor

Market, By Application

• Power Distribution
• Power Transmission

Market, By End Use

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Spain
  • Italy
  • UK
  • Austria
  • Netherlands
  • Sweden
  • Russia
  • Belgium
  • Denmark
  • Switzerland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Philippines
  • New Zealand
  • Malaysia
  • Thailand
  • Singapore
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Oman
  • Lebanon
  • Turkey
  • Jordan
  • South Africa
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Argentina
  • Peru