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Circuit Breaker Market size to cross $48 Bn by 2032

Published Date: April 27, 2023

Circuit Breaker Market size is anticipated to reach USD 48 billion by 2032, according to the latest research report by Global Market Insights Inc.

The expansion of micro-grid networks is shaping the industry scenario as a result of the escalating demand for the grid integration of renewable technologies, coupled with increased electric network hazards. In September 2022, DOE data stated that the warming climate is likely to stir more storms in the country and hence pose a threat to power grids in the upcoming years. In addition, the proposed concept of the national grid mechanism, along with the establishment of new power grids across national borders, is positively influencing the business landscape.

Expanding utility-based transmission networks to increase demand for outdoor product installation

The outdoor circuit breaker market is expected to expand at 9% CAGR from 2023 to 2032. The soaring on-site generation technology installation rates and the expansion of utility-based transmission networks are poised to boost outdoor installations in the competitive industrial environment. Lower susceptibility to fault escalation and cheaper upfront construction expense across outdoor venues is also accelerating product adoption.

Rising demand for energy-efficient solutions to propel < 500 V-rated segment revenues

The circuit breaker industry size from the < 500 V rated voltage product type estimated to amass USD 5.5 billion 2022 attributed to the increasing demand for energy-efficient solutions, rising espousal of smart grid technology, and the expansion of renewable energy sources. These circuit breakers are capable of catering to medium voltages and work effectively without emitting high carbons, fueling segment returns. Moreover, these CBs are essential in renewable energy systems as they can manage electrical overloads and ensure safe and efficient operations.

Browse key industry insights spread across 1685 pages with 2953 market data tables & 26 figures & charts from the report, “Circuit Breaker Market By Voltage (Low {ACB, MCCB, MCB}, Medium {VCB, ACB, GCB}, High {ACB, VCB, OCB, GCB}), By Rated Voltage, By Rated Current, By Installation (Indoor, Outdoor), By Application (Power Distribution, Power Transmission), By End Use (Residential, Commercial, Industrial, Utility) & Forecast, 2023 – 2032” in detail along with the table of contents:

Rapid urbanization and migration to augment residential sector progression

The residential circuit breaker market valuation will be worth USD 16 billion by 2032. With prevalent urbanization and migration to better homes, the demand for residential circuit breakers is witnessing a substantial upsurge and is further predicted to be impelled by the development of advanced network grids. To cite a recent instance, the U.S. Department of Energy invested nearly USD 26 million under the Bipartisan Infrastructure Law to improve power lines for homes and businesses.

Positive inclination of DSOs toward high-quality supply to push Europe industry growth

Europe captured 18% share of the circuit breaker industry in 2022. The electricity distribution business is proliferating in the form of models utilized to review tariffs & profits. Despite the diversity, Distribution System Operators (DSOs) in Europe generally prefer high supply quality & reliability for their customers, which is likely to propel regional business expansion. For instance, in Germany, high-voltage transmission grids are largely owned by transmission system operators (TSOs).

Promising partnerships for industrial sector expansion to shape the competitive landscape

Top players in the circuit breaker market scenario, such as Eaton Corporation, Toshiba International Corporation, Schneider Electric, WEG, LS ELECTRIC Co., Ltd, Kirloskar Electric Company, and Powell Industries, among others, are focusing on strategic acquisitions and mergers to stay ahead in the business.

For instance, in July 2022, Eaton Corporation, a power management company, acquired 50% stakes in Jiangsu Huineng Electric Co., Ltd., a manufacturer and provider of LV circuit breakers across China. Through this move, the company strengthened its market presence across the circuit breaker industry and attain lucrative opportunities in the renewable energy, grid modernization, and industrial & commercial building sectors.

Authors: Ankit Gupta, Riya Gupta