Circuit Breaker Market Research Report - Global Forecast to 2032

Circuit Breaker Market Research Report Information By Voltage (High, Medium), By Type (Outdoor Circuit Breaker, Indoor Circuit Breaker), By End-Use (Transmission & Distribution, Power Generation, Renewables, Railways), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/E&P/0416-HCR | 188 Pages | Author: Anshula Mandaokar | December 2023         

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Global Circuit Breaker Market Overview:

Circuit Breaker Market Size was valued at USD 7.8 billion in 2022. The Circuit Breaker market industry is projected to grow from USD 8.29 Billion in 2023 to USD 13.54 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.32% during the forecast period (2023 - 2032). Increased investments in the renewable power industry and the Need for high reliability and safe operation of sub-station equipment are the key market drivers enhancing the market growth.

Circuit Breaker Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Circuit Breaker Market Trends

  • Increasing Investments in Industrial Sector are driving the market growth

The increasing investment in the industrial sector and the growing investment to leverage the industrial infrastructure increase the demand for electrical switching devices in the market. These devices are predominantly used in the industrial and commercial sectors. According to the World Investment Report 2021, Asia-Pacific received USD 535 billion from Foreign Direct Investment (FDI) in 2020, to which China and Singapore majorly contributed. As a consequence of the increasing investment from the industrial sector, the deployment of these devices in different end-use and production industries is necessary. This factor is what drives the market CAGR.

The need for circuit breakers is also fueled by a number of other factors. The Circuit Breaker Industry is benefiting from the increase in investments in the energy sector. In the previous year, investments totaled USD 308 billion in the worldwide industry. The market for renewable energy is increasing. As a result, there is a huge need for circuit breakers. Power plants and electrical grids are connected by a combination of technologies known as a circuit breaker. Therefore, a key factor driving the market for circuit breakers is rising investments in the renewable energy sector. The power demand has high in the residential, commercial, and industrial sectors. Furthermore, there is a rising concern about the supply of undisrupted power. This concern from the end-users is another driver for the market. The need for constant and undisrupted power flow and protection from the short circuit are the key actors that drive market growth. The rising reliability of power is a crucial factor that will increase demand in the upcoming years.

Moreover, their awareness of energy conservation is growing rapidly. It is another factor that stirs the demand for circuit breakers. The circuit breaks cut the electricity by preventing short circuits and power wastage. The need for these power protection devices will grow further due to fluctuations in power supply. The environmental consciousness encourages the end-users to adopt circuit breakers in industries and commercial spaces. Thus, driving the Circuit Breaker market revenue.

Circuit Breaker Market Segment Insights:

Circuit Breaker Voltage Insights

The Circuit Breaker market segmentation, based on Voltage, includes High, Medium. The medium segment dominated the market; medium voltage breakers are used more in industrial, infrastructural, and utility-scale applications. The medium-scale breaker applications have the most extensive applications and are expected to show significant market growth.

Figure 1: Circuit Breaker Market, by Voltage, 2022 & 2032 (USD billion)

Circuit Breaker Market, by Voltage, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Circuit Breaker Type Insights

The Circuit Breaker market segmentation, based on Type, includes outdoor circuit breakers, indoor circuit breakers. The Outdoor circuit segment dominated the market; most breakers installed are outdoor automatically operated electrical switches. The market size of outdoor breakers is almost double that of indoor breakers. It is used in switchgear assembly, which is used outdoors for utility-scale applications. Few industrial machinery and equipment require outdoor breakers. Indoor breakers are used majorly in residential, commercial, and industrial breakers.

Circuit Breaker End-Use Insights

Based on End-Use, the Circuit Breaker market segmentation includes transmission & distribution, power generation, renewables, and railways. The transmission & distribution segment dominated the market, the increasing demand for electricity transmission and distribution infrastructure, driven by the growing population and urbanization, has resulted in a higher need for efficient and reliable power networks. Circuit breakers play a crucial role in ensuring the safety and reliability of these networks by protecting them against electrical faults and overloads. Furthermore, the rapid expansion of renewable energy sources, such as solar and wind, has necessitated the development of robust transmission and distribution systems to integrate and transmit power from these sources to the grid. These systems ' circuit breakers are essential components, protecting potential issues like voltage fluctuations and short circuits.

Circuit Breaker Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Circuit Breaker Market area will dominate this market; the growing demand for renewable energy will offer growth opportunities in this Region. The Region is focusing on high-load remission lines will boost the market growth in this Region. Moreover, China’s Circuit Breaker market held the largest market share, and the Indian Circuit Breaker market was the fastest-growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global Circuit Breaker Market Share By Region 2022 (%)

Circuit Breaker Market Share By Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Circuit Breaker market accounts for the second-largest market share due to the rising population in Europe increasing the demand for the power industry. Further, the German Circuit Breaker market held the largest market share, and the UK Circuit Breaker market was the fastest-growing market in the European Region

The North American Circuit Breaker market is expected to grow fastest from 2023 to 2032. This is due to the rising population and increasing demand for the power industry.

Circuit Breaker Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Circuit Breaker market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Circuit Breaker industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Circuit Breaker industry to benefit clients and increase the market sector. In recent years, the Circuit Breaker industry has offered some of the most significant advantages to medicine. Major players in the Circuit Breaker market, including ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi (Japan), Toshiba (Japan), Powell (US), TE Connectivity (Switzerland), CG Power (India), Tavrida Electric (Switzerland), Larsen & Toubro (India), Fuji Electric (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

Siemens AG is a German multinational technology conglomerate. Its operations encompass automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, rail transport solutions, health technology, and digital healthcare services. Siemens purchased C&S Electric, a maker of electrical and power electronic equipment, in order to meet the rising need for electrification goods. The scope of the transaction includes the Indian operations of the low and medium voltage power bus bars, protection and metering devices, and low voltage switchgear components and panels businesses of C&S Electric.

Eaton Cummins Automated Transmission Technologies is a joint venture between Eaton and Cummins, Inc. producing industry-leading heavy-duty automated transmission products for OEM customers around the globe. With the introduction of the Endurant XD series, Eaton Cummins Automated Transmission Technologies announced the extension of the Endurant Automated Transmission portfolio. The series is a high-performance automated transmission designed for on-highway applications like double and triple trailer trucks and severe-duty on/off-highway applications like dump and logging trucks.

Key Companies in the Circuit Breaker Market Include

  • Schneider Electric

  • Toshiba

  • Siemens

  • ABB

  • Meidensha

  • Mitsubishi Electric

  • TE Connectivity

  • CG Power

  • XIGAO Group

  • Industrial Solutions,


  • Larsen & Toubro

  • Huayi Electric

Circuit Breaker Industry Developments

May 2023

EvoPacT, a new medium voltage circuit breaker from Schneider Electric, a pioneer in the digital transformation of energy management and automation, was introduced to the Canadian market. This updated solution has been created to meet the demands of infrastructure, substantial industrial and commercial structures, electro-intensive operations, cloud providers, and service providers.

The ground-breaking circuit breaker uses digital technologies, sensors, apps, services, and a digital logbook to enable remote monitoring and control, boost productivity, raise uptime, and improve efficiency. It also lowers operating costs and provides improved visibility.

Digital insights from EvoPacT enable facility managers to proactively manage any potential issues in real-time, lowering risks, lifetime costs, and operational downtime – an essential step for industries like manufacturing, hospitals, and data centers that depend on large amounts of power for vital operations.

The Schneider Electric EcoStruxure open, interoperable IoT-enabled system architecture and platform, which offers innovation at every level and is protected by end-to-end cybersecurity, includes this revolutionary circuit breaker. To completely optimize system interoperability, data can also be accessed from remote devices and exchanged via cloud connection to online services like EcoStruxure Asset Advisor.

February 2023

A share transfer agreement has been signed by Scibreak AB, a Swedish firm that creates direct current circuit breakers (DCCBs), according to a statement released today by Mitsubishi Electric Corporation. By closely collaborating on the development of DCCB technologies for high-voltage direct current (HVDC) systems to support the expanding global deployment of renewable energy, the two companies hope to increase the competitiveness of their combined business.

In terms of operation time and footprint, Scibreak has DCCB technology that is at the top of the market. Mitsubishi Electric will use Scibreak's technology and know-how to lead the market commercialization of DCCBs through the purchase of shares, strengthening its worldwide HVDC system business, and helping to achieve carbon neutrality by promoting the use of renewable energy sources.

Circuit Breaker Market Segmentation:

Circuit Breaker Voltage Outlook

  • High

  • Medium

Circuit Breaker Type Outlook

  • Outdoor circuit breaker

  • Indoor circuit breaker

Circuit Breaker End-Use Outlook

  • Transmission & Distribution

  • Power Generation

  • Renewables

  • Railways

Circuit Breaker Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 7.8 billion
Market Size 2023 USD 8.29 billion
Market Size 2032 USD 13.54 billion
Compound Annual Growth Rate (CAGR) 6.32%(2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Distribution Channel, and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi (Japan), Toshiba (Japan), Powell (US), TE Connectivity (Switzerland), CG Power (India), Tavrida Electric (Switzerland), Larsen & Toubro (India), Fuji Electric (Japan)
Key Market Opportunities Upcoming smart cities and aging power infrastructure
Key Market Dynamics Need for high reliability and safe operation of sub-station equipment

Frequently Asked Questions (FAQ) :

The global Circuit Breaker market size was valued at USD 7.8 Billion in 2022.

The global market is projected to grow at a CAGR of 6.32%during the forecast period, 2023-2032.

Asia Pacific had the largest share of the global market

The key players in the market are ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi (Japan), Toshiba (Japan), Powell (US), TE Connectivity (Switzerland), CG Power (India), Tavrida Electric (Switzerland), Larsen & Toubro (India), Fuji Electric (Japan).

The Medium Circuit Breaker category dominated the market in 2022.

The Outdoor circuit breaker had the largest share of the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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