The global circuit breaker market size is projected to grow from an estimated USD 5.7 billion in 2020 to USD 7.7 billion by 2025, at a CAGR of 5.9% from 2020 to 2025.
The key drivers for the circuit breaker market include growing investments in power generation, specifically from renewable energy sources; rising demand for reliable and secure power supply worldwide; increasing capacity additions and enhancements for T&D networks; and accelerating investments in railways sectors.
The gas circuit breaker segment is expected to hold the largest share of the circuit breaker market, by insulation type, during the forecast period.
The gas circuit breakers segment is estimated to lead the circuit breaker market during the forecast period. The market for a gas circuit breaker is driven by high dielectric property and less space requirement. The Asia Pacific is estimated to hold the largest share of the gas circuit breakers market, followed by Europe because of increasing investments in renewable energy resulting in the demand for the upgrades of the existing substations or the installation of new ones are expected to drive the market for SF6-based gas-insulated switchgear.
Asia Pacific: The fastest-growing market for circuit breaker.
The Asia Pacific is the fastest-growing market for circuit breakers, followed by Europe, and North America. The growth of this region is driven by increasing T&D network expansion and industrialization projects in countries such as China, Japan, and South Korea. For instance, The State Grid Corporation of China (SGCC) plans to invest USD 250 billion in electric power infrastructure upgrade, out of which USD 45 billion are planned to be invested in smart grids between 2018 and 2020. Korea Electric Power Corp. (KEPCO) of South Korea also plans to invest USD 7.18 billion for nationwide smart grid infrastructure, which is to be completed by 2030. All these investments are likely to create demand for circuit breakers in the region.
4 Premium Insights 4.1 Attractive Opportunities in Circuit Breaker Market 4.2 Circuit Breaker Market, by Region 4.3 Circuit Breaker Market in Asia-Pacific, by End-user & Country 4.4 Circuit Breaker Market, by Installation 4.5 Circuit Breaker Market, by Voltage 4.6 Circuit Breaker Market, by End-user 5 Market Overview 5.1 Introduction 5.2 COVID-19 Health Assessment 5.3 Road to Recovery 5.4 COVID-19 Economic Assessment 5.5 Market Dynamics 5.5.1 Drivers 126.96.36.199 Growing Investments in Power Generation, Specifically from Renewable Energy Sources 188.8.131.52 Rising Demand for Reliable and Secure Power Supply Worldwide 184.108.40.206 Increasing Capacity Additions and Enhancements for T&D Networks 220.127.116.11 Accelerating Investments in Railway Sector 5.5.2 Restraints 18.104.22.168 Stringent Environmental and Safety Regulations for Sf6 Circuit Breakers 22.214.171.124 Competition from Circuit Breaker Market's Unorganized Sector 5.5.3 Opportunities 126.96.36.199 Growth in Investments in Smart Grid Technologies to Protect and Control Power Equipment 188.8.131.52 Replacement of Aging Grid Infrastructure and Need for Reliable T&D Networks 5.5.4 Challenges 184.108.40.206 Risk of Cybersecurity Attacks and Installation of Modernized Circuit Breakers 220.127.116.11 Impact of COVID-19 on Circuit Breakers 5.6 Trends 5.6.1 Revenue Shift & New Revenue Pockets for Circuit Breaker Manufacturers 5.7 Average Selling Price 5.8 Market Map 5.9 Trade Data Statistics 5.10 Value Chain Analysis 5.10.1 Raw Material Providers/Suppliers 5.10.2 Component Manufacturers 5.10.3 Assemblers/Manufacturers 5.10.4 Distributors (Buyers)/ End-users and Post-Sales Services 5.11 Technology Analysis 5.11.1 Technology Trends for Various Circuit Breaker Technologies 5.12 Circuit Breaker: Codes and Regulations 5.13 Innovations & Patent Registration 5.14 Case Study Analysis 5.14.1 Circuit Breakers for Energy Market 18.104.22.168 ABB Introduced HVDC (High Voltage Direct Current) Circuit Breakers to Transform Energy Market
6 Scenario Analysis 6.1 Introduction 6.1.1 Optimistic Scenario 6.1.2 Realistic Scenario 6.1.3 Pessimistic Scenario 7 Circuit Breaker Market, by Insulation Type 7.1 Introduction 7.2 Vacuum Circuit Breakers 7.2.1 Growing Focus on Circuit Breakers Being Environment-Friendly and Having Long Service Life is Likely to Their Increase Demand 7.3 Air Circuit Breakers 7.3.1 Surging Demand for Energy Storage is Likely to Drive Market 7.4 Gas Circuit Breakers 7.4.1 High Dielectric Property and Less Space Requirement for Installation to Increase Demand 7.5 Oil Circuit Breakers 7.5.1 High Dielectric Strength & Insulation are Likely to Boost Demand 8 Circuit Breaker Market, by Voltage 8.1 Introduction 8.2 Medium Voltage 8.2.1 Growing Power Distribution Infrastructures are Expected to Drive Market During Forecast Period 8.3 High Voltage 8.3.1 Investments in Electrical Transmission Network to Propel Demand for High-Voltage Circuit Breakers 9 Circuit Breaker Market, by Installation 9.1 Introduction 9.2 Indoor Circuit Breakers 9.2.1 Growing Industrial & Commercial Sectors in Developing Countries to Boost Market Growth 9.3 Outdoor Circuit Breakers 9.3.1 Increasing Installations of Solar and Wind Power Plants to Drive Market for this Segment
10 Circuit Breaker Market, by End-user 10.1 Introduction 10.2 T&D Utilities 10.2.1 Increasing Demand for Electricity and Replacement of Aging Infrastructure to Drive Market for this Segment 10.3 Power Generation 10.3.1 Growing Safety and Reliability of Power Plants to Propel Market Growth 10.4 Renewables 10.4.1 Rising Investments to Reduce Carbon Dioxide Emission to Accelerate Market Growth 10.5 Railways 10.5.1 Increasing Investments in Railway Electrification Systems to Drive Market 11 Circuit Breaker Market, by Region 11.1 Introduction 11.2 Asia-Pacific 11.3 Europe 11.4 North America 11.5.1 Import and Export Data 11.6 Middle East & Africa 12 Competitive Landscape 12.1 Key Players Strategies 12.2 Share Analysis of Top 5 Players 12.3 Market Evaluation Framework 12.4 Revenue Analysis of Top 5 Market Players 12.5 Company Evaluation Quadrant 12.5.1 Stars 12.5.2 Emerging Leaders 12.5.3 Pervasive 12.5.4 Participants 12.6 Competitive Leadership Mapping of Start-Ups 12.6.1 Progressive Companies 12.6.2 Responsive Companies 12.6.3 Starting Blocks 12.6.4 Dynamic Companies 12.7 Competitive Scenario 12.7.1 Product Launches 12.7.2 Contracts & Agreements 12.7.3 Mergers & Acquisitions 13 Company Profiles 13.1 ABB 13.2 Siemens 13.3 Eaton 13.4 Schneider Electric 13.5 Mitsubishi Electric 13.6 Toshiba 13.7 Powell Industries 13.8 Cg Power and Industrial Solutions 13.9 Fuji Electric 13.10 Larsen & Toubro 13.11 Brush Group 13.12 Tavrida Electric 13.13 Secheron 13.14 Efacec Power Solutions 13.15 Hyundai Electric 13.16 TE Connectivity 13.17 Entec Electric & Electronic 13.18 Ls Electric 13.19 Schaltbau 13.2 Kirloskar Electric 13.20.1 Yueqing Aiso Electric 13.21 Sriwin Electric 13.22 Orecco 13.23 Ormazabal 13.24 Yueqing Liyond Electric 13.25 Safvolt Switchgears 14 Appendix