Circuit Protection Market - By Type (Overcurrent Protection, Electrostatic Discharge (ESD) Protection, Overvoltage Protection), By Product, By Distribution Channel (Direct Sales, Distributors, Retail Sales, Online Sales), By Application & Forecast, 2024 – 2032

Circuit Protection Market Size

Circuit Protection Market was valued at USD 52.6 billion in 2023 and is anticipated to grow at a CAGR of over 7.3% between 2024 and 2032.
 

The organizations are strongly focusing on preventing short circuiting, which can lead to disaster situations with the adoption of advanced solid-state circuit breakers and protection devices. The devices offer significant advantages over traditional electromechanical circuit breakers, such as faster response times and improved reliability. Solid-state circuit breakers can detect faults more quickly and precisely, thereby reducing downtime and enhancing overall system safety. Moreover, their ability to handle higher currents and voltages efficiently makes them suitable for modern applications in renewable energy systems, electric vehicles, data centers, and industrial automation.
 

Solid-state circuit breakers are expected to play a crucial role in optimizing energy distribution and enhancing the resilience of electrical grids and critical infrastructure. For instance, in August 2022, ABB unveiled a new solid state circuit breaker, SACE Infinitus, which enables maritime and transport boats to run on environmentally friendly and effective DC power systems. It can resolve short circuit issues 100 times more quickly and 100 times longer than a conventional circuit breaker.
 

There is an increasing importance for circuit protection with the growing renewable energy systems, which often involve complex networks of generators, inverters, and storage systems. These intricate and complex components require sophisticated protection mechanisms to ensure seamless operation and integration into the grid. Circuit protection devices are necessary to manage the unique challenges posed by the variable and intermittent nature of renewable energy sources. The shift toward decentralized energy generation through microgrids and distributed renewable energy sources necessitates advanced protection strategies to manage multiple points of generation and consumption.
 

Circuit protection devices in the market must comply with a range of international and regional standards and regulations. This adherence ensures standardized circuit connections, critical for avoiding significant variations that could impede site connections. Ensuring compliance with all relevant standards can be complex and time-consuming. Regulatory changes and updates can impact product design and manufacturing processes requiring continuous monitoring and adaptation.
 

Circuit Protection Market Trends

The increasing electrical and electronic device usage in every sector has triggered the rising growth of circuit protection devices. Industrial sectors are increasingly adopting automation and advanced machinery to improve efficiency and achieve high productivity. These systems rely on sensitive electronic components that need core circuit protection to prevent damage from electrical faults and ensure continuous operation. For instance, in October 2022, Mitsubishi Electric Power Product Company, Inc. (MEPPI) announced the first shipments of its 72kV Vacuum Circuit Breaker (VCB) with dry-air insulation, the latest addition to the company’s switchgear product line. Designed, assembled, and tested in the U.S., the company’s 72kV vacuum circuit breaker meets all applicable ANSI, IEEE, and IEC certification standards. Its vacuum circuit breaker eliminates the need and expense of tracking and documenting greenhouse gases, hence lowering Operational and Maintenance (O&M) costs.
 

The growing use of electronics in automotive applications, from Engine Control Units (ECUs) to electric power steering and other systems, highlights the importance of circuit protection. These critical systems must be protected from electrical faults to ensure vehicle performance and safety. For instance, in May 2022, AutomationDirect brought Gladiator GCB series molded case circuit breakers to its lineup of circuit protection devices. Gladiator MCCBs are designed to reliably protect circuits and equipment from thermal overloads, short circuits, and ground faults. Available in two or three-pole configurations, these high-performance circuit breakers are offered in seven frame sizes up to 1,200A with a selection of trip units and up to a 100kA interrupting capacity.
 

Circuit Protection Market Analysis

Based on product, the market is segmented into circuit breakers, fuses, GFCI, HD pro, inrush current limiter, mobile power protection, overvoltage protection, and others. The mobile power protection segment is the fastest growing segment, with a CAGR of over 5% between 2024 and 2032.
 

• The growing expansion of mobile charging infrastructure, including public charging stations, in-vehicle charging systems, and wireless charging technologies, has created an utmost need for proper power protection. It is essential to ensure the safety and reliability of these charging systems to prevent damage to devices and enhance user experience.
   
• Modern mobile power protection devices are seamlessly incorporating smart features that enable real-time monitoring and monitoring of power delivery. These smart protection systems can help in the detection of faults and respond to potential issues, such as voltage spikes, overheating, and overcurrent conditions, enhancing the safety and reliability of mobile power solutions.

Based on end use, the market is segmented into agriculture, automotive, commercial and residential, household appliances, HVAC, and others. The commercial and residential segment dominated the market and is expected to reach over USD 25 billion by 2032.
 

• The rising adoption of smart home technologies is rapidly increasing, with consumers demanding devices, such as smart thermostats, lighting systems, security cameras, and voice assistants, into their homes. These smart devices require robust circuit protection to ensure reliable operation and safeguard against electrical faults.
   
• Advanced circuit protection solutions, including smart breakers and surge protectors with IoT capabilities, are becoming popular to manage and monitor home electrical systems remotely. There is a growing emphasis on energy efficiency and sustainability in both commercial and residential buildings. Energy management systems that optimize power consumption and reduce wastage are increasingly being deployed. These systems require sophisticated circuit protection to ensure safe and efficient operation.

The circuit protection market is experiencing significant growth in Asia Pacific, estimated to reach USD 35 billion by 2032. The Asia Pacific region is witnessing rapid industrialization and urbanization, particularly in countries such as China, India, and Southeast Asian nations. Massive infrastructure projects, including the construction of commercial buildings, residential complexes, transportation networks, and public utilities, require comprehensive electrical protection solutions. Governments and private entities are investing heavily in infrastructure, creating a substantial market for circuit protection products.
 

The South Korean government is investing in renewable energy projects to reduce dependence on fossil fuels and combat climate change. The integration of solar, wind, and other renewable energy sources into the power grid which requires advanced circuit protection solutions to handle variable power inputs and protect sensitive equipment from electrical faults which can lead to fatal situations. There is a growing need for intelligent circuit protection solutions that can monitor and adapt to the variable conditions introduced by renewable energy sources. This includes the use of smart circuit breakers, relays, and monitoring systems that can provide real-time data and enable predictive maintenance.
 

There is a growing emphasis on integrating renewable energy sources, such as solar and wind power, into the electrical grid in North America. Circuit protection solutions play a crucial role in managing the variability and intermittency of renewable energy generation. Advanced protection devices are needed to safeguard both utility-scale and distributed renewable energy installations from overcurrent, faults, and voltage fluctuations.
 

Circuit Protection Market Share

ABB Ltd. and Siemens AG together held over 15% share of the market in 2023. The company, headquartered in Zurich, Switzerland, is a global leader in electrification, industrial automation, robotics, and motion. ABB has established itself as a prominent player in the circuit protection industry and beyond. It offers a range of circuit breakers, including Miniature Circuit Breakers (MCBs), Molded Case Circuit Breakers (MCCBs), and Air Circuit Breakers (ACBs), catering to various industrial, commercial, and residential applications.
 

Siemens AG is a global powerhouse in the field of electrification, automation, and digitalization. Founded in 1847 in Berlin, Germany, Siemens has grown into one of the world's largest conglomerates, operating across numerous sectors including energy, healthcare, industrial automation, and infrastructure. It is known for its continuous innovations in circuit protection technologies. The company develops advanced solutions that integrate smart features such as remote monitoring, diagnostics, and predictive maintenance capabilities.
 

Circuit Protection Market Companies

Major players operating in the circuit protection industry are:

• ABB Ltd.
• Siemens AG
• General Electric (GE)
• Mitsubishi Electric Corporation
• Eaton Corporation
• Schneider Electric SE
• NXP Semiconductors N.V.
   

Circuit Protection Industry News

• In January 2023, Renesas Electronics Corporation, a leading provider of cutting-edge semiconductor solutions, launched an automotive Intelligent Power Device (IPD) that will control power distribution within vehicles flexibly and safely, meeting the needs of the next generation of electrical/electronic architectures. Compared to a product with traditional TO-263 packaging, the new RAJ2810024H12HPD has a mounting area reduction of around 40%, and it is available in a tiny TO-252-7 container.
   
• In May 2022, Metrosil announced the launch of a unique range of pre-assembled Current Transformer Protection Units (CTPU) enclosures. It allows for easy installation near the CT secondaries. Metrosil CTPUs, the world's overseeing CT open circuit protection components, can nowadays be ordered conveniently housed in welded sheet steel enclosures.
   

The circuit protection market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2024 to 2032, for the following segments:

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Market, By Type

• Overcurrent protection
• Electrostatic Discharge (ESD) protection
• Overvoltage protection

Market, By Product

• Circuit breakers
• Fuses
• GFCI
• HD pro
• Inrush current limiter
• Mobile power protection
• Overvoltage protection
• Others

Market, By Distribution Channel

• Direct sales
• Distributors
• Retail sales
• Online sales
• Others

Market, By Application

• Agriculture
• Automotive
• Commercial and residential
• Household appliances
• HVAC
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA