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Global Circuit Breaker and Fuse Market to reach USD 22.92 billion by the end of 2030

Global Circuit Breaker and Fuse Market Size Study & Forecast, By Component (Circuit Breaker, Fuse), By Circuit Breaker Voltage (High Voltage, Medium Voltage, Low Voltage), By Technology (Air Blast Circuit Breakers, Vacuum Circuit Breakers, Oil Circuit Breaker, SF6 Circuit Breaker, Others), By Fuse Voltage (Low voltage, High voltage), By Application (Construction, Consumer Electronics, Industrial, Power Generation & Distribution, Transport, Others) and Regional Analysis, 2023-2030

Product Code: EESC-71866204
Publish Date: 20-07-2023
Page: 200

Global Circuit Breaker and Fuse Market is valued at approximately USD 15.05 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2023-2030. A circuit breaker and a fuse are both electrical safety devices used to protect electrical circuits from excessive current or short circuits. They serve a similar purpose but differ in their operation and resetability. A fuse is a simple device that contains a thin strip or wire made of a material that melts when exposed to excessive current. When the current flowing through the circuit exceeds the fuse’s rated value, the strip or wire melts, breaking the circuit and disconnecting the power supply. Fuses are typically one-time-use devices and need to be replaced after they have blown. They come in various ratings to match the current-carrying capacity of different circuits. The market for circuit breakers and fuses is anticipated to grow due to the rising demand for upgrading to efficient networks and connection for renewable energy sources. The need for advanced equipment in the electronics, automotive, and telecommunications sectors is growing throughout the predicted period due to increased safety concerns around short circuits and damage caused by power fluctuations. The main factors that is anticipated to propel expansion in the circuit breaker & fuse market include also rising construction and development activity, expanding renewable power generation projects, and expanding access to energy in emerging nations.

Additionally, the growing investments in power generation from renewable energy sources are acting as a major driver for the circuit breaker and fuse market. According to the International Energy Agency (IEA), globally, in 2020, an estimated USD 281 billion will be invested globally in renewable energy production. Global investments in the renewable energy sector in the power sector totaled USD 308 billion in 2018. A specialized protective system is necessary for renewable energy sources like solar and wind power. As a result, so as to link power generating stations to switchyards and the electrical grid, a circuit breaker is needed. It is among the most crucial and significant parts of an electrical system. A strong and reliable transmission and distribution network is now required due to rising energy consumption and growing worries about the reliability of renewable energy sources, both of which are driving the worldwide industry. However, A circuit breaker is made up of a number of parts, including switching mechanisms and diodes. Because some of these components use pricey metals like silver and gold, the cost of raw materials is considerable. Therefore, the high cost of raw materials stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Circuit Breaker and Fuse Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to presence of key market players, and rising use of alternative energy generation technologies like wind and solar, which demand significant expenditures in distribution and transmission. Asia Pacific is expected to grow significantly during the forecast period as the demand for circuit breakers and fuses is expected to rise in the region due to significant expansion in end-user categories such the oil and gas industry, petrochemicals industry, steel industry, and cement industry.

Major market player included in this report are:
ABB Ltd.
Bel Fuse Inc.
Schneider Electric SE
Mitsubishi Electric Corporation
Eaton Corporation plc
General Electric Company
Siemens AG
Rockwell Automation, Inc.
Larsen & Toubro Limited
NXP Semiconductors N.V.

Recent Developments in the Market:
Ø In July 2021, ABB and Hitachi announced a partnership to develop a new generation of high-voltage circuit breakers. The new circuit breakers will be based on ABB’s advanced vacuum interrupter technology and Hitachi’s digital technologies, enabling higher levels of safety and reliability.,
Ø In January 2020 Siemens purchased C&S Electric, a producer of electrical and electronic equipment. The low voltage switchgear components and panels, low and medium voltage power busbars, protection and metering devices companies, as well as low and medium voltage power busbar operations in India, were all included in the scope of the transaction, to meet the expanding need for electrification products
Ø In September 2020, Siemens introduced the type SDV-R non-arc-resistant and type SDV-R-AR arc-resistant medium-voltage outdoor distribution circuit breakers, for renewable energy applications, such as the production of wind power
Global Circuit Breaker and Fuse Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Circuit Breaker Voltage, Technology, Fuse Voltage, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Circuit Breaker

By Circuit Breaker Voltage:
High Voltage
Medium Voltage
Low Voltage
By Technology:
Air Blast Circuit Breakers
Vacuum Circuit Breakers
Oil Circuit Breaker
SF6 Circuit Breaker
By Fuse Voltage:
Low voltage
High Voltage
By Application:
Consumer Electronics
Power Generation & Distribution

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Circuit Breaker and Fuse Market, by Region, 2020-2030 (USD Billion)
1.2.2. Circuit Breaker and Fuse Market, by Component, 2020-2030 (USD Billion)
1.2.3. Circuit Breaker and Fuse Market, by Circuit Breaker Voltage, 2020-2030 (USD Billion)
1.2.4. Circuit Breaker and Fuse Market, by Technology, 2020-2030 (USD Billion)
1.2.5. Circuit Breaker and Fuse Market, by Fuse Voltage, 2020-2030 (USD Billion)
1.2.6. Circuit Breaker and Fuse Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Circuit Breaker and Fuse Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Circuit Breaker and Fuse Market Dynamics
3.1. Circuit Breaker and Fuse Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising demand for upgrading to efficient networks and connection for renewable energy sources Increasing need for advanced equipment in the electronics, automotive, and telecommunications sectors Rising construction and development activity
3.1.2. Market Challenges High Cost of raw Material
3.1.3. Market Opportunities Need for strong and dependable R&D network Growing concerns over the reliability of renewable power
Chapter 4. Global Circuit Breaker and Fuse Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Circuit Breaker and Fuse Market, by Component
5.1. Market Snapshot
5.2. Global Circuit Breaker and Fuse Market by Component, Performance – Potential Analysis
5.3. Global Circuit Breaker and Fuse Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Circuit Breaker and Fuse Market, Sub Segment Analysis
5.4.1. Circuit Breaker
5.4.2. Fuse
Chapter 6. Global Circuit Breaker and Fuse Market, by Circuit Breaker Voltage
6.1. Market Snapshot
6.2. Global Circuit Breaker and Fuse Market by Circuit Breaker Voltage, Performance – Potential Analysis
6.3. Global Circuit Breaker and Fuse Market Estimates & Forecasts by Circuit Breaker Voltage 2020-2030 (USD Billion)
6.4. Circuit Breaker and Fuse Market, Sub Segment Analysis
6.4.1. High Voltage
6.4.2. Medium Voltage
6.4.3. Low Voltage
Chapter 7. Global Circuit Breaker and Fuse Market, by Technology
7.1. Market Snapshot
7.2. Global Circuit Breaker and Fuse Market by Technology, Performance – Potential Analysis
7.3. Global Circuit Breaker and Fuse Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
7.4. Circuit Breaker and Fuse Market, Sub Segment Analysis
7.4.1. Air Blast Circuit Breakers
7.4.2. Vacuum Circuit Breakers
7.4.3. Oil Circuit Breaker
7.4.4. SF6 Circuit Breaker
7.4.5. Others

Chapter 8. Global Circuit Breaker and Fuse Market, by Fuse Voltage
8.1. Market Snapshot
8.2. Global Circuit Breaker and Fuse Market by Fuse Voltage, Performance – Potential Analysis
8.3. Global Circuit Breaker and Fuse Market Estimates & Forecasts by Fuse Voltage 2020-2030 (USD Billion)
8.4. Circuit Breaker and Fuse Market, Sub Segment Analysis
8.4.1. Low Voltage
8.4.2. High Voltage
Chapter 9. Global Circuit Breaker and Fuse Market, by Application
9.1. Market Snapshot
9.2. Global Circuit Breaker and Fuse Market by Application, Performance – Potential Analysis
9.3. Global Circuit Breaker and Fuse Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
9.4. Circuit Breaker and Fuse Market, Sub Segment Analysis
9.4.1. Construction
9.4.2. Consumer Electronics
9.4.3. Industrial
9.4.4. Power Generation & Distribution
9.4.5. Transport
9.4.6. Others
Chapter 10. Global Circuit Breaker and Fuse Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Circuit Breaker and Fuse Market, Regional Market Snapshot
10.4. North America Circuit Breaker and Fuse Market
10.4.1. U.S. Circuit Breaker and Fuse Market Component breakdown estimates & forecasts, 2020-2030 Circuit Breaker Voltage breakdown estimates & forecasts, 2020-2030 Technology breakdown estimates & forecasts, 2020-2030 Fuse Voltage breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Circuit Breaker and Fuse Market
10.5. Europe Circuit Breaker and Fuse Market Snapshot
10.5.1. U.K. Circuit Breaker and Fuse Market
10.5.2. Germany Circuit Breaker and Fuse Market
10.5.3. France Circuit Breaker and Fuse Market
10.5.4. Spain Circuit Breaker and Fuse Market
10.5.5. Italy Circuit Breaker and Fuse Market
10.5.6. Rest of Europe Circuit Breaker and Fuse Market
10.6. Asia-Pacific Circuit Breaker and Fuse Market Snapshot
10.6.1. China Circuit Breaker and Fuse Market
10.6.2. India Circuit Breaker and Fuse Market
10.6.3. Japan Circuit Breaker and Fuse Market
10.6.4. Australia Circuit Breaker and Fuse Market
10.6.5. South Korea Circuit Breaker and Fuse Market
10.6.6. Rest of Asia Pacific Circuit Breaker and Fuse Market
10.7. Latin America Circuit Breaker and Fuse Market Snapshot
10.7.1. Brazil Circuit Breaker and Fuse Market
10.7.2. Mexico Circuit Breaker and Fuse Market
10.8. Middle East & Africa Circuit Breaker and Fuse Market
10.8.1. Saudi Arabia Circuit Breaker and Fuse Market
10.8.2. South Africa Circuit Breaker and Fuse Market
10.8.3. Rest of Middle East & Africa Circuit Breaker and Fuse Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. ABB Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. Bel Fuse Inc.
11.3.3. Schneider Electric SE
11.3.4. Mitsubishi Electric Corporation
11.3.5. Eaton Corporation plc
11.3.6. General Electric Company
11.3.7. Siemens AG
11.3.8. Rockwell Automation, Inc.
11.3.9. Larsen & Toubro Limited
11.3.10. NXP Semiconductors N.V.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
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Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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