NEW YORK, May 19, 2016 /PRNewswire/ -- Circuit Breakers are electrical switches that are utilized to prevent overload and short circuit conditions from damaging the electrical circuits and devices. Fuses are low resistance resistors that break the electrical circuit if excess current flows through it. Thermistors are resistors whose resistance is dependent on the temperature. Circuit breakers, thermistors and fuses are used to protect the electrical circuit from harmful surcharges. The growth of the industrial and construction sectors is a major driver for this market. Construction industry in developing nations such as India, Brazil and China will propel the circuit breaker, thermistor and fuse market.
The Global Circuit Breaker, thermistor and Fuse market has been segmented based on type, voltage type, principle of operation, application and by geography. Based on type the market has been segmented into three sub segments Circuit Breaker types, thermistor types and fuse types. Circuit Breaker Type market has been further divided into Miniature Circuit Breaker (MCB), Molded Case Circuit Breaker (MCCB), Air Circuit Breaker, Vacuum Circuit Breaker, SF6 Circuit Breaker and Oil Circuit Breaker. Fuse Type market has been divided into Rewirable Fuse, Cartridge Fuse, Blade Fuse and Resettable Fuse. Thermistor market has also been divided into NTC and PTC thermistors.
The market has also been segmented based on voltage type into low voltage, medium voltage and high voltage. These segments are again divided into circuit breaker and fuse markets. The market has been segmented based on Principle of operation for circuit breakers into magnetic, thermal and hybrid The market has also been segmented based on applications into Transportation, Consumer Electronics, Construction, Power Generation and Industrial. The construction market has been divided into Residential and Non Residential.
The circuit breaker, thermistor and fuse Market is estimated to be around $25 billion in 2014 and is growing at a healthy CAGR of 9% during the forecast period through 2021. The growing power infrastructure combined with increased industrial markets is driving the growth. This market is also largely dependent on the infrastructure industry and with the focus of the industry on the Chinese, Brazilian, Indian and developing markets, similar growth is projected in the circuit breaker and fuse market. Americas market is the leading segment for this industry in 2014 and this is projected to continue through 2021 with APAC market exhibiting significant growth.
The Circuit Breaker, Thermistor and Fuse market has also been segmented based on geography into Americas, Europe, APAC and RoW. Americas currently accounts for the largest market followed by APAC. The market for circuit breakers and fuses will be driven by infrastructure developments, particularly in China.
The growing electrical grid and power generation industry is set to propel the usage of circuit breakers and fuses.. Hybrid circuit breakers offer improved functionality and efficiency and thus are gaining utilization, particularly in the power generation industry. Technological breakthroughs in the automotive fuse market are set to propel the sales for this industry. The growing infrastructure requirements in developed nations are also set to drive the market, particularly in BRICS nations
The Circuit Breaker, Thermistor and Fuse market is led by key players including:
These companies have focused on developing partnerships and agreements in growing markets in order to capture local market share.
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