The competitive landscape of the circuit breaker market By analyzing the competitive scenario, companies can identify opportunities for growth, assess potential threats, and develop effective strategies to position themselves for success in the future.
*Disclaimer: List of key companies in no particular order
Competitive Landscape of the Circuit Breaker Market
The global circuit breaker market is a dynamic and competitive landscape, characterized by a diverse range of players, including established giants and emerging challengers. This market research report delves into the competitive landscape, analyzing key players, their strategies, market share factors, and the overall scenario.
Key Players:
Eaton Corporation: A global leader in power management solutions, Eaton offers a comprehensive range of circuit breakers for various applications. They focus on innovation, sustainability, and customer service to maintain their market position.
Siemens AG: Another major player, Siemens offers a broad portfolio of circuit breakers for industrial and power grid applications. They are known for their robust technology, reliability, and global presence.
Schneider Electric: A leading provider of energy management solutions, Schneider Electric offers a wide range of circuit breakers for various applications. They focus on digitization and smart technologies to enhance product functionality and customer experience.
Mitsubishi Electric Corporation: A prominent player in the electrical and electronic equipment industry, Mitsubishi Electric offers circuit breakers for industrial and infrastructure applications. They are known for their advanced technology and high-quality products.
ABB Ltd: A global leader in power and automation technologies, ABB offers a comprehensive range of circuit breakers for various applications. They focus on innovation, efficiency, and digitalization to stay competitive.
Strategies Adopted:
Product Innovation: Key players are continuously innovating and developing new circuit breakers with advanced features, improved performance, and enhanced safety. This focus on R&D helps them stay ahead of the competition and cater to evolving customer demands.
Strategic Acquisitions: Mergers and acquisitions are common strategies employed by leading companies to expand their market share, acquire new technologies, and gain access to new markets.
Geographic Expansion: Many players are expanding their global presence by establishing new manufacturing facilities and distribution channels in emerging markets. This allows them to tap into new customer segments and capitalize on regional growth opportunities.
Partnerships and Collaborations: Collaborating with other industry players, research institutions, and technology providers allows companies to share expertise, develop innovative solutions, and leverage complementary strengths to gain a competitive edge.
Focus on Sustainability: With increasing environmental concerns, leading companies are focusing on developing sustainable circuit breakers using eco-friendly materials and minimizing their environmental impact.
Factors for Market Share Analysis:
Company Revenue: The revenue generated by a company from the sale of circuit breakers is a major indicator of its market share.
Product Portfolio: The breadth and depth of a company's circuit breaker portfolio, covering various applications and voltage ratings, significantly impacts its market share.
Regional Presence: The geographical reach of a company's operations and its ability to cater to different regional markets contribute to its market share.
Brand Reputation: A company's brand reputation for quality, reliability, and innovation plays a crucial role in influencing customer purchasing decisions and impacting market share.
Customer Service: Providing excellent customer service, including responsive technical support and efficient after-sales service, can significantly enhance a company's market share.
New and Emerging Companies:
The circuit breaker market is also witnessing the emergence of new players, particularly in niche segments and emerging markets. These companies often focus on innovative technologies, disruptive business models, and competitive pricing strategies to challenge established players and gain a foothold in the market. Some notable examples include Camsco Electric Co., Ltd., G&W Electric, and Kirloskar Electric Co.
Overall Competitive Scenario:
The global circuit breaker market is expected to witness continued growth in the coming years, driven by factors such as rising electricity demand, increasing infrastructure investments, and growing focus on renewable energy integration. The competitive landscape is likely to remain dynamic, with established players striving to maintain their market positions while new entrants challenge the status quo. Mergers and acquisitions, strategic partnerships, and technological advancements are expected to shape the future of the market.
The competitive landscape of the circuit breaker market is complex and constantly evolving. Understanding the key players, their strategies, and market share factors is crucial for navigating this dynamic environment. By analyzing the competitive scenario, companies can identify opportunities for growth, assess potential threats, and develop effective strategies to position themselves for success in the future.
Company Updates:
Schneider Electric:
Toshiba:
Siemens:
ABB:
Circuit Breaker Market Size was valued at USD 8.29 billion in 2023. The Circuit Breaker market industry is projected to grow from USD 8.81 Billion in 2024 to USD 13.54 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.51% during the forecast period (2024 - 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.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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, 2024 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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 (%)
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.
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.
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 Highlights:
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)