$9 Billion Circuit Breaker Market - Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 19, 2018--The “Circuit Breaker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
The global circuit breaker market reached a value of around US$ 7 billion in 2017. The market value is further expected to reach US$ 9 billion by 2023, exhibiting a CAGR of 4.5% during 2018-2023.
An electronic device functions through a path which has two or more points to carry the electrical current. This path is called a circuit and the device that interrupts this flow of electrical current is called the circuit breaker. These circuit breakers are used for preventing the fluctuations in the flow of current and protecting other devices that are attached to the circuit. Circuit breakers help in controlling, regulating and mastering electric power efficiently.
Global Circuit Breaker Market Drivers:
In recent years, the demand for electricity has been increasing day by day. Circuit breakers are beneficial in the transmission and distribution of power supply. Moreover, owing to an emerging need for saving electricity, governments across the globe are introducing numerous initiatives to establish efficient and smart power grids. These factors have contributed towards the growth of the circuit breaker market.
Safety of kitchen appliances, industrial tools and machinery and IT products have become a matter of chief concern that is playing a major role in the rising demand of circuit breakers. By using circuit breakers, the whole power mechanism can be made safe and protected from the frequent power fluctuations and short circuits.
An important factor that is responsible for the constant growth in the circuit breaker market is the increasing trend of urbanisation and industrialisation in developing countries. This has caused an improvement in the electricity infrastructure as well as an increase in the power supply to rural areas.
Low maintenance cost and increasing usage of these devices in locomotive industries are some of the other advantages that are positively influencing the growth of global circuit breaker market.
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Circuit Breaker Market
6 Market Breakup by Product Type
7 Market Breakup by Voltage
8 Market Breakup by Technology
9 Market Breakup by End-Use
10 Market Breakup by Region
11 Circuit Breaker Manufacturing Process
12 Competitive LandscapeABB Alstom Eaton Corporation GE Mitsubishi Electric Power Products Schneider Electric Siemens Camsco Electric G&W Electric Kirloskar Electric L&T Powell Industries Schurter Holding Sensata Technologies Toshiba
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SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 12/19/2018 10:19 AM/DISC: 12/19/2018 10:19 AM