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Power Distribution Circuit Breaker Market Trends

Report ID: GMI8246
Published Date: Feb 2024
Report Format: PDF

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Power Distribution Circuit Breaker Market Trends

Numerous industries in developed nations are experiencing technological progress through the incorporation of smart devices, artificial intelligence (AI), Internet of Things (IoT), and various other information technology (IT) advancements. This ongoing digital transformation has also significantly influenced the power sector, as consumer demand for interactive and intelligent services has been steadily increasing in recent years. This shift towards IT integration within the electricity sector is expected to significantly enhance the deployment of smart grids, thereby positively influencing the adoption rate of electrical equipment across grids. Consequently, this trend is anticipated to further stimulate growth in the circuit breaker industry.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Power distribution circuit breaker market size was assessed at USD 17.9 billion in 2023 and is envisioned to record 9.7% CAGR from 2024 to 2032 due to increasing demand for efficient T&D control systems.

The 1,500 to 2,500 A segment held a share of more than 15.3% in the power distribution circuit breaker market in 2023 and will grow significantly through 2032 due to the rapid expansion of residential and commercial areas worldwide.

North America power distribution circuit breaker market is forecasted to exceed USD 7.5 billion by 2032 attributed to heightened investments in the expansion of long-distance distribution networks and the renovation of domestic distribution infrastructure.

ABB, Alfanar Group, CG Power & Industrial Solutions Ltd., Eaton, General Electric, HD HYUNDAI ELECTRIC & ENERGY SYSTEM CO., LTD., Kirloskar Electric Company, LS ELECTRIC Co., Ltd., Mitsubishi Electric Corporation, Powell Industries, Schneider Electric, Sensata Technologies, Inc., Siemens Energy, Toshiba International Corporation, and WEG.