Home > Energy & Power > Electrical Equipment > Circuit Breakers > Industrial Circuit Breaker Market

Industrial Circuit Breaker Market Size - By Voltage (Low, Medium, High), By Installation (Indoor, Outdoor), By End Use (Oil & Gas, Metal & Mining, Arc Furnace, Railway) & Forecast, 2024 – 2032

  • Report ID: GMI7871
  • Published Date: Jan 2024
  • Report Format: PDF

Industrial Circuit Breaker Market Size

Industrial Circuit Breaker Market was valued at USD 3 billion in 2023 and is predicted to showcase around 9% CAGR from 2024 to 2032, driven by the increasing demand for reliable and efficient electrical infrastructure in industrial sectors, including manufacturing, energy, and utilities, which in turn is propelling the adoption of advanced circuit breaker technologies. With a growing emphasis on workplace safety and regulatory compliance, industrial facilities are investing in state-of-the-art circuit breakers that offer enhanced protection against electrical faults and reduce downtime. Additionally, the escalating integration of renewable energy sources and the expansion of smart grids are contributing to the market's expansion.
 

Industrial Circuit Breaker Market

To get key market trends   Download Free Sample

As industries continue to digitize and automate their operations, the need for intelligent and programmable circuit breakers is on the rise, fostering innovation and driving market growth. Furthermore, the ongoing global push for sustainable practices is encouraging the development of eco-friendly and energy-efficient circuit breakers, creating new opportunities for manufacturers in the industrial sector. Growing industrialization and urbanization across developing nations will further drive the market growth.
 

With a thriving industrial landscape and increased manufacturing activities, there is a heightened demand for reliable electrical infrastructure, including circuit breakers, to ensure the efficient and safe operation of industrial machinery and equipment. The projected growth of 11.8% in the industrial sector for the current financial year suggests a potential surge in the need for industrial circuit breakers, aligning with the expanding industrial activities and contributing to the overall development of the electrical infrastructure sector in India, thereby augmenting the circuit breaker market across the nation.
 

COVID-19 Impact

The industrial circuit breaker market faced disruptions during the COVID-19 pandemic, experiencing setbacks such as project delays, supply chain disruptions, and decreased construction activity. These challenges led to a temporary decline in both demand and installations. However, the market later witnessed a resurgence, driven by a renewed emphasis on safety measures and the growing adoption of features like remote monitoring.
 

Industrial Circuit Breaker Market Trends

The industrial circuit breaker industry has been shaped by several notable trends in recent times. One prominent trend is the increasing integration of digital technologies, such as IoT and advanced analytics, into circuit breaker systems. This move towards smart solutions enables real-time monitoring, predictive maintenance, and enhanced overall efficiency. Energy efficiency remains a key focus, with a growing emphasis on circuit breakers capable of accommodating the challenges posed by renewable energy sources.

Furthermore, the trend of global urbanization has played a pivotal role in market development. As urban centers expand, the demand for reliable electrical infrastructure in commercial and industrial facilities has surged, driving the need for advanced circuit protection solutions. According to the World Economic Forum, Latin America experienced a significant uptick in urbanization, with more than 81% of the population residing in cities as of 2020, a considerable increase from the 41.3% recorded in 1950.
 

Industrial Circuit Breaker Market Analysis

Industrial Circuit Breaker Market Size, By Voltage, 2022 - 2032 (USD Billion)
Learn more about the key segments shaping this market   Download Free Sample

The medium voltage segment is poised to witness more than 9% CAGR from 2024 to 2032, fueled by technological advancements, particularly the evolution of smart and digitally integrated circuit breakers, elevating both efficiency and safety standards. Industries are consequently drawn towards infrastructure upgrades. The surge in emphasis on renewable energy sources, such as solar and wind power, has further intensified the demand for dependable medium voltage circuit breakers to manage power fluctuations effectively. The rapid industrialization observed in emerging economies has resulted in increased electricity consumption, necessitating the implementation of robust circuit protection systems.
 

Industrial Circuit Breaker Market Revenue Share, By Installation, 2023
Learn more about the key segments shaping this market   Download Free Sample

The indoor segment projected to attain gains at nearly 9.5% up to 2032. The surge in demand for indoor installations is attributed to technological advancements, stringent safety regulations, and an increasing need for dependable power distribution systems. Robust growth in this sector is further propelled by factors such as rapid urbanization and the expansion of the industrial sector, prompting a heightened requirement for efficient electrical infrastructure. The market is also benefitting from the escalating emphasis on energy efficiency and the integration of smart technologies within buildings, driving the demand for innovative indoor circuit breaker solutions.
 

The arc furnace industry is estimated to see 8.5% CAGR through 2032. As the arc furnace sector continues to expand globally, there is a heightened demand for advanced circuit breaker technologies capable of handling the high currents and extreme conditions associated with these industrial processes. Manufacturers have responded by developing innovative solutions tailored to the specific needs of arc furnace applications.
 

Asia Pacific Industrial Circuit Breaker Market Size, 2022 - 2032 (USD Billion)
Looking for region specific data?   Download Free Sample

Asia Pacific industrial circuit breaker market is anticipated to depict 10% CAGR from 2024 to 2032. Rapid industrialization in countries such as China, India, and Southeast Asian nations has led to increased demand for electricity, necessitating the deployment of efficient and reliable electrical infrastructure. As industries expand and modernize, the need for robust electrical infrastructure becomes paramount. The escalating energy consumption necessitates the deployment of advanced circuit breaker technologies to ensure the reliability and safety of power distribution systems. This surge in energy demand acts as a catalyst for the industrial circuit breaker business, driving the adoption of innovative solutions to meet the evolving requirements of the Southeast Asian industrial landscape.
 

Moreover, the region's ongoing infrastructure development projects, including the expansion of manufacturing facilities, power generation plants, and smart grids, contribute significantly to the demand for industrial circuit breakers. Additionally, the focus on renewable energy sources and the integration of smart technologies in power distribution systems further amplify the market growth. Stringent safety regulations and the need to enhance energy efficiency in industrial operations have also led to the adoption of advanced circuit breaker technologies. As the Asia-Pacific region continues to be a major contributor to global industrial activities, the market is poised for sustained expansion, driven by these multifaceted growth drivers.
 

Industrial Circuit Breaker Market Share

Siemens Energy holds a prominent position in the global industrial circuit breaker industry, boasting a substantial market share. Recognized for its commitment to innovation and reliability, Siemens's circuit breaker solutions are designed to address a wide range of industrial requirements, delivering robust protection and streamlined electrical distribution. Backed by a comprehensive product portfolio and a track record of pioneering technology, Siemens maintains a formidable presence, establishing benchmarks within the industry and delivering customized solutions that align with the dynamic needs of the industrial sector.
 

Industrial Circuit Breaker Market Companies

Some of the key market players operating across the industrial circuit breaker industry are:

  • Hitachi, Ltd.
  • DILO Company, Inc.
  • Mitsubishi Electric Corporation
  • ABB
  • Eaton Corporation
  • Siemens Energy
  • GE
  • Rockwell Automation
  • Schneider Electric
  • Zhejiang Volcano Electrical Technology Co.,Ltd
  • Legrand
  • Fuji Electric
  • LS Electric
  • Toshiba International Corporation
  • Chint Electric
  • C&S Electric
  • WEG
  • Socomec
  • L&T Electrical & Automation
     

Industrial Circuit Breaker Industry News:

  • In February 2023, Mitsubishi Electric Corporation finalized the acquisition of Scibreak AB, a Swedish enterprise specializing in Direct Current Circuit Breaker (DCCB) technology. This strategic move aimed to merge both companies' circuit breaker expertise, focusing on innovative solutions for High Voltage Direct Current (HVDC) networks. The objective was to encourage the integration of renewable energy sources into the grid. This acquisition significantly enriched Mitsubishi Electric's product lineup, enhancing its ability to provide a wider array of solutions to global customers and fortifying its position to capture an expanded market share on a global scale.
     
  • In June 2021, Mitsubishi and Siemens entered into a Memorandum of Understanding (MOU) aimed at co-developing high-voltage switching products and solutions that eliminate greenhouse gas emissions by replacing them with clean gas for insulation. Collaborating on research methodologies, both companies accelerated the advancement of insulation technologies using eco-friendly gases for higher voltage applications. Enhancements were made to the 245 kV dead-tank circuit breaker, providing customers worldwide access to high-voltage switching solutions that are environmentally neutral. While working together on technology development, both partners maintained their autonomy in producing, servicing, and marketing switchgear solutions.
     

This industrial circuit breaker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report


Market, By Voltage

  • Low
  • Medium
  • High

Market, By Installation

  • Indoor
  • Outdoor

Market, By End Use

  • Oil & Gas
  • Metal & Mining
  • Arc Furnace
  • Railway
  • Others

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

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Spain
    • Italy
    • UK
    • Austria
    • Netherlands
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia 
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Oman
    • South Africa 
  • Latin America
    • Brazil
    • Argentina
    • Peru

 

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of industrial circuit breaker was reached USD 3 billion in 2023 and is projected to expand at over 9% CAGR from 2024 to 2032, owing to the rising demand for reliable and efficient electrical infrastructure in industrial sectors, including manufacturing, energy, and utilities.
Indoor industrial circuit breaker market is poised to attain 9.5% CAGR between 2024 and 2032, driven by the technological advancements, stringent safety regulations, and the increasing need for dependable power distribution systems.
Asia Pacific industrial circuit breaker industry size is projected to expand at over 10% CAGR from 2024 to 2032, due to the rapid industrialization in countries such as China, India, and Southeast Asian nations.
Some of the top industrial circuit breaker companies are DILO Company, Inc., Hitachi, Ltd., Mitsubishi Electric Corporation, ABB, Eaton Corporation, Siemens Energy, GE, Rockwell Automation, Schneider Electric, Zhejiang Volcano Electrical Technology Co. Ltd, Legrand, Fuji Electric, Toshiba International Corporation, Chint Electric, Socomec, and L&T Electrical & Automation.

Industrial Circuit Breaker Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 776
  • Countries covered: 25
  • Pages: 570
 Download Free Sample
 Download Free Sample