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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A circuit breaker is an automatically operated electrical switch, which is designed to protect an electrical circuit from damages caused by excess current from an overload or short circuit. Its primary function is to interrupt current flow after a fault is detected. Furthermore, an electrical fuse is an electrical safety device, which operates to provide overcurrent protection of an electrical circuit. In layman’s terms, circuit breakers and fuses interrupt the flow of electricity, thereby preventing electricity overload. Quantity of electricity on an electric line depends on production, transmission, weather, associated equipment, the status of other transmission lines, and consumer usage. Transmission outage shifts the electricity around the blockage onto adjacent lines.

The global circuit breaker and fuses market is estimated to be valued at US$ 17.7 billion in 2021 and is expected to exhibit a CAGR of 5.2% over the forecast period (2021-2028).

Recent Developments:

  • In September 2020, Siemens launched the type SDV-R non-arc-resistant and type SDV-R-AR arc-resistant medium-voltage outdoor distribution circuit breakers that are designed for renewable energy applications, such as wind power generation.
  • In January 2020, Siemens acquired C&S Electric, a manufacturer of electrical and electronic equipment, to cater to the growing need for electrification products.
  • In September 2020, Eaton Cummins Automated Transmission Technologies announced the expansion of the Endurant Automated Transmission lineup with the launch of the Endurant XD series. The series is high-performance automated transmissions designed for on-highway applications, such as double and triple trailer trucks, and severe-duty on/off highway applications like dump and logging trucks.

Asia Pacific held dominant position in the global circuit breaker and fuses market in 2020, accounting for 30.5% share in terms of volume, followed by North America and Europe, respectively.

Figure 1. Global Circuit Breaker and Fuses Market Value (US$ 5.11 Bn), by Region, 2020

Circuit Breaker and Fuses  | Coherent Market Insights

Market Dynamics- Drivers

Increasing demand for electricity and reliable power delivery is expected to drive growth of the global circuit breaker and fuses market during the forecast period. The demand for electricity has increased significantly in the recent past due to rising population, technological advancements, and rapid economic growth. New upgrades and higher capacity in power infrastructure are required, in order to cater to increasing demand. Since electronic devices are vulnerable to failure due to power fluctuations, government and private agencies around the world have mandated the inclusion of device protection components such circuit breakers and fuses.

Inadequate electric power infrastructure is expected to propel the global circuit breaker and fuses market growth over the forecast period. Currently, in many countries, there is presence of power infrastructure that cannot uphold the standards of quality and bulk power movement needed. Aging electric infrastructure reflects the technology that was developed in the early 1940s, thereby largely characterizing the power delivery system. According to the U.S. Department of Energy, 60% of circuit breakers are more than 30 years old and 70% of transformers and transmission lines are over 25 years old. Furthermore, according to the Coherent Market Insights’ analysis, investment in transition and distribution infrastructure has decreased to 40% from 1980 to 1999 with electricity usage increased by around 58%.

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Circuit Breaker and Fuses Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 17.7 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.2% 2028 Value Projection: US$ 25.2 Bn
Geographies covered:
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
Segments covered:
  • By Type: Circuit breakers, Fuses
  • By Circuit Breakers Voltage level of Installation: Low voltage, Medium voltage, High voltage       
  • By Arch Quenching Media Type: Air circuit breakers, Vacuum circuit breakers, Oil circuit breakers, SF6 circuit breakers, Others (CO2, hybrid, DCB, so on)
  • By Fuse Voltage level of Installation: Low voltage fuses, High voltage fuses
  • By Fuse Type: Plug-in fuses, Cartridge fuses
  • By Applications: Construction, Transport, Industrial, Consumer Electronics, Power generation, Others (healthcare, military, so on)
Companies covered:

ABB Ltd, Toshiba Corporation, Alstom SA, Siemens AG, Eaton Corporation, Schneider Electric SA, G&W Electric Company, Pennsylvania Breaker, LLC; General Electric, Mitsubishi Electric, and Maxwell Technologies Ltd.

Growth Drivers:
  • Increasing demand for electricity and reliable power delivery
  • Inadequate electric power infrastructure
Restraints & Challenges:
  • Increasing demand for electricity and reliable power delivery
  • Inadequate electric power infrastructure

Market Opportunities

Growing demand for solar energy and smart meters can provide major business opportunities. Applications of fuses and circuit breakers have grown by around 400% in the past few years. Electric vehicles, smart meters and solar energy are estimated to be the emerging markets for circuit breakers and fuses. From window lift motors to cooling fans in automation devices, there is a need for circuit breakers and fuses to protect devices from overheating. There is a greater diversity of fuses in vehicles as vehicles are consuming more power than before. Hence, the count of fuses in vehicles is projected to increase. Usage of smart grids helps to update electric grids with reliability and efficiency. The persistent adoption of smart grid technologies is expected to provide growth opportunities for the circuit breakers and fuses market.

Rising smart city projects can present lucrative growth opportunities. Many countries have started launching smart city projects with significant investment involved in it. These smart city projects promote the use of smart meters and smart grids, in order to enhance the efficiency of electricity usage and reduce losses. For instance, in June 2015, the Government of India launched ‘100 Smart Cities Mission’, a smart city project with an investment of US$ 14 billion.

Market Trends

Key companies in the market are focused on research and development activities, in order to enhance the product portfolio and gain a competitive edge in the market. For instance, in March 2014, ABB Ltd launched SACE FORMULA, a complete range of low voltage circuit breakers, for the market in Malaysia. Furthermore, in August 2012, ABB Ltd. launched a new environment-friendly, carbon dioxide live tank high-voltage circuit breaker.

Major companies in the market are involved in strategic partnerships, in order to strengthen the market presence. For instance, in April 2013, Alstom partnered with Soyuz Holding S.A. to manufacture and distribute high voltage switch gears for modernizing the Russian electrical grid. This partnership deal includes manufacturing of 110-220 kV circuit breakers and an additional range up to 500kV.

Figure 2. Global Circuit Breaker and Fuses Market Share, By Circuit breakers, 2020

Circuit Breaker and Fuses  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Low voltage held dominant position in the market and accounted for 38.47% share in the global circuit breaker and fuses market in 2020. The segment is expected to reach US$ 7.83 billion in 2028, owing to owing to provide short circuit protection and overload protection.
  • In 2020, the Cartridge fuses accounted for the largest share of 52.48% in the global circuit breaker and fuses market and is expected to be valued at US$ 1.63 billion by 2028. This is owing to provide short circuit protection and overload protection.

Market Dynamics- Restraints

High cost of raw materials is expected to restrain growth of global circuit breaker and fuses market during the forecast period. Circuit breakers are comprised of various components such as switching mechanisms and diodes. Some of these components contain silver and gold and thus have high cost of raw materials. According to the World Gold Council, around 7% of world demand for gold is for technical applications. The prices of raw materials such as gold and silver have been going up for more than a decade. According to the World Gold Council, the average gold price in 2000 was US$279.11 per ounce whereas the average gold price in 2010 was US$ 1,224.53 per ounce, an increase of 338.7%.

Strict regulatory norms concerning environmental safety are expected to hamper the global circuit breaker and fuses market growth over the forecast period. Many countries have started imposing stringent environmental regulations and safety rules for Sf6 circuit breakers. These strict rules are challenging to comply with and lead to additional manufacturing costs.

Competitive Section

Key players operating in the global circuit breaker and fuses market are ABB Ltd, Toshiba Corporation, Alstom SA, Siemens AG, Eaton Corporation, Schneider Electric SA, G&W Electric Company, Pennsylvania Breaker, LLC, General Electric, Mitsubishi Electric, and Maxwell Technologies Ltd.

Circuit breakers are electrical devices, which protect a building or other structure from the risk of a power failure due to overloading or tripping of a circuit. A circuit breaker is a specially operated electrical switch designed to prevent excessive current from a short circuit or excessive overloading from an overload. It interconnects loads of loads in a circuit to prevent the probability of an overload or underload condition from occurring. It interconnects loads of loads through breakers, load detectors, and relays. In electrical engineering and electronics, a fuse is basically an electrical safety device that works to give overvoltage protection to a circuit by short-circuiting the circuit, to avoid fire or other dangers from happening.

Market Dynamics

Increasing investment in power generation, especially in renewable energy sources is expected to boost the global circuit breaker and fuses market growth over the forecast period. Governments of many countries are taking proactive initiatives to promote green energy adoption with significant investment in renewable energy projects. For instance, in March 2021, the U.S. Government announced a US$ 2.25 trillion infrastructure plan to focus on green energy and decarbonization. This, in turn, has increased the demand for circuit breakers and fuses worldwide.

Moreover, rising investment in the railway sector is expected to accelerate growth of the global circuit breaker and fuses market in the near future.

Key features of the study:

  • This report provides in-depth analysis of the circuit breaker and fuses market, and provides market size (US$ 16.8 Billion) and compound annual growth rate (5.2 %) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global circuit breaker and fuses market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include ABB Ltd, Toshiba Corporation, Alstom SA, Siemens AG, Eaton Corporation, Schneider Electric SA, G&W Electric Company, Pennsylvania Breaker, LLC, General Electric, Mitsubishi Electric, and Maxwell Technologies Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global circuit breaker and fuses market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global circuit breaker and fuses market

Detailed Segmentation:

  • Global Circuit Breaker and Fuses Market, by Type
    • Circuit breakers
    • Fuses
  • Global Circuit Breaker and Fuses Market, by Circuit Breakers Voltage level of Installation
    • Low voltage
    • Medium voltage
    • High voltage
  • Global Circuit Breaker and Fuses Market, by Arch Quenching Media Type
    • Air circuit breakers
    • Vacuum circuit breakers
    • Oil circuit breakers
    • SF6 circuit breakers
    • Others (CO2, hybrid, DCB, so on)
  • Global Circuit Breaker and Fuses Market, by Fuse Voltage level of Installation
    • Low voltage fuses
    • High voltage fuses
  • Global Circuit Breaker and Fuses Market, by Fuse Type
    • Plug-in fuses
    • Cartridge fuses
  • Global Circuit Breaker and Fuses Market, by Applications
    • Construction
    • Transport
    • Industrial
    • Consumer Electronics
    • Power generation
    • Others (healthcare, military, so on)
  • Global Circuit Breaker and Fuses Market, by Region
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
    • Market Definition and Scope
    • Executive Summary
    • Market Snippet, By Type
    • Market Snippet, By Circuit Breakers Voltage level of Installation
    • Market Snippet, By Arch Quenching Media Type
    • Market Snippet, By Fuse Voltage level of Installation
    • Market Snippet, By Fuse Type
    • Market Snippet, By Applications
    • Market Snippet, By Region
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
    • Drivers
    • Restraints
    • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • New system Launch/Approvals
  4. Global Air Traffic Control Market - Impact of Coronavirus (Covid-19) Pandemic
  5. Global Air Traffic Control Market, by Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Circuit breakers
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
    • Fuses
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
  6. Global Air Traffic Control Market, By Circuit Breakers Voltage level of Installation, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Low voltage
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Medium voltage
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • High voltage
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  7. Global Air Traffic Control Market, By Arch Quenching Media Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Air circuit breakers
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Vacuum circuit breakers
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Oil circuit breakers
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • SF6 circuit breakers
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Others (CO2, hybrid, DCB, so on)
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  8. Global Air Traffic Control Market, by Fuse Voltage level of Installation, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Low voltage fuses
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
    • High voltage fuses
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
  9. Global Air Traffic Control Market, by Fuse Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
      • Segment trends
    • Plug-in fuses
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
    • Cartridge fuses
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis, 2020–2027, (US$ Million)
  10. Global Air Traffic Control Market, By Region, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Circuit Breakers Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Arch Quenching Media Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Fuse Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Fuse Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Applications, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Circuit Breakers Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Arch Quenching Media Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Fuse Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Fuse Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Applications, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Circuit Breakers Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Arch Quenching Media Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Fuse Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Fuse Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Applications, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
    • Rest of World
      • Market Size and Forecast, By Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Circuit Breakers Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Arch Quenching Media Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Fuse Voltage level of Installation, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Fuse Type, 2020–2027(US$ Million)
      • Market Size and Forecast, By Applications, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
  11. Competitive Landscape
    • Company Profiles
      • ABB Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Toshiba Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Alstom SA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Siemens AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Eaton Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schneider Electric SA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • G&W Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pennsylvania Breaker
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pennsylvania Breaker, LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • General Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mitsubishi Electric
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Maxwell Technologies Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  12. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on ‘Global Air Traffic Control Market -forecast to 2027’

FAQgrowicon

Frequently Asked Questions

Increasing demand for electricity and reliable power delivery is expected to drive growth of the global circuit breaker and fuses market during the forecast period.
The market is estimated to be valued at US$ 17.7 billion in 2021 and is expected to exhibit a CAGR of 5.2 % over the forecast period (2021-2028).
High cost of raw materials is expected to restrain growth of the market during the forecast period.
Rising smart city projects can present lucrative growth opportunities in the market.
Launch of novel products is one of the emerging trends in the market.
Key players operating in the market are ABB Ltd, Toshiba Corporation, Alstom SA, Siemens AG, Eaton Corporation, Schneider Electric SA, G&W Electric Company, Pennsylvania Breaker, LLC, General Electric, Mitsubishi Electric, and Maxwell Technologies Ltd.
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