ID: MRFR/E&P/5462-CR | December 2018 | Region: Global | 117 pages
Low-voltage circuit breakers market is expected to exhibit a 4.54% CAGR, on the basis of value, from 2018 to 2023 (forecast period), as per the latest report by Market Research Future (MRFR). It is predicted to touch a valuation of USD 1,657.2 million by the end of the forecast period.
The recent rise of infrastructural projects is likely to drive the market demand exponentially over the forecast period. Urgent need for automatic switches to ensure the uninterrupted power flow is expected to augur the low-voltage circuit breakers market growth till 2023. Mushrooming of commercial and industrial zones thanks to continuous developments in cities has warranted the need for circuit breakers.
Electrification of rural areas is expected to be a prime opportunity for the market to expand till the end of the forecast period. Initiatives by nations to provide power to consumers in remote regions via renewable sources can bode well for the low-voltage circuit breakers market.
The low-voltage circuit breakers market report consists of insights and upcoming trends likely to impact the decisions of product manufacturers. It is broken down into various segments on the basis of type and application with a granular analysis given with respect to trends. Regional analysis as well as their contribution to the market is noted. Opportunities, threats, and other factors having an influnece on the market are written in detail. Profiles of players and various strategies considered by them to maintain their status quo are assessed.
By type, the low-voltage circuit breaker market is segmented into miniature circuit breaker (MCB), molded-case circuit breaker (MCCB), and air circuit breaker (ACB). By application, the market is segmented into energy allocation, shut-off circuit, and others. The segments covered in the low-voltage circuit breakers market report are analyzed with respect to five regions namely – North America, Asia Pacific (APAC), Central & South America, Europe, and the Middle East & Africa (MEA).
Noteworthy players in the low-voltage circuit breakers market include ABB (Switzerland), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Eaton Corporation (Ireland), Shanghai Liangxin Electrical Co., Ltd. (China), DELIXI (China), HangShen Electric (China), CHINT Group (China), Hyundai Electric & Energy Systems Co., Ltd. (South Korea), Fuji Electric FA Components & Systems Co., Ltd. (Japan), Changshu Switchgear Mfg Co., Ltd. (China), Hager Group (Germany), and China People Electric Appliance Group Shanghai Co Ltd (China). The efforts and strategies undertaken by these players are outlined to strengthen their core businesses.
Low-voltage circuit breakers protect electrical equipment from damage. It detects faults caused by overload and interrupts the power flow.
The report offers a comprehensive analysis of these market participants and assesses their current standing in the market. Company history coupled with annual production capacity, profit margins, growth strategies, SWOT analysis, and novel R&D methods are discussed in minute detail.
April 2019: ABB has developed a solid-state circuit breaker concept which is designed to meet the high demands of next-generation power applications. The low-voltage circuit breaker is set to be introduced to the public at the Hannover Messe in Germany. It will be available for purchase from 2020.
February 2019: Scheider Electric announced the next generation high power low-voltage circuit breaker called the ‘Masterpact MTZ.’ It is an air circuit-breaker that has enhanced performance, higher reliability, and safety.
Research analysts at MRFR use a combination of primary and secondary research to present readers with valuable insights. Primary research entails interviews with industry stalwarts of prominent companies coupled with a look at past and present trends. Keeping this in mind, future estimations are presented with valid proofs which are verified by using trusted sources. Secondary research comprises data gathered from journals, white papers, company websites, and paid databases.
The market size is predicted and segmented into various sub-segments for easy understanding. The final report is filled with accurate statistics and graphs. Trends and insights can assist current and new players in the market in making sound investments.
|Market Size||2023:USD 1,657.2 Million|
|CAGR||4.54% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ABB (Switzerland), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Eaton Corporation (Ireland), Shanghai Liangxin Electrical Co., Ltd. (China), DELIXI (China), HangShen Electric (China), CHINT Group (China), Hyundai Electric & Energy Systems Co., Ltd. (South Korea), Fuji Electric FA Components & Systems Co., Ltd. (Japan), Changshu Switchgear Mfg Co., Ltd. (China), Hager Group (Germany), and China People Electric Appliance Group Shanghai Co Ltd (China).|
|Key Market Opportunities||Electrification of rural areas|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The predicted of the market is to touch a valuation of USD 1,657.2 million inthe estimate period.
At 4.54% CAGR, the market will be gaining its growth
The rise of infrastructural projects is to drive the market demand exponentially in the forecast period.
Schneider Electric (France), ABB (Switzerland), Siemens AG (Germany), Eaton Corporation (Ireland), Mitsubishi Electric Corporation (Japan) are the key players of the market.
The segments are type and application.
Low-voltage circuit breakers are devices that automatically trip a circuit when a predetermined voltage limit is exceeded. Low-voltage circuit breakers are used for circuits rated at 600 volts or lower. Low-voltage circuit breakers act as a safety devices to prevent the overflow of high voltages into electronic circuitry and resultant damage, including fires and other highly avoidable occurrences. The primary usage of low-voltage circuit breakers is in residential and commercial construction to protect the circuitry in the building.
The rising demand for new electrical distribution infrastructure is likely to be a prime driver for the global low-voltage circuit breaker market. Developing countries are funding new projects to increase the power infrastructure and availability, whereas a number of developed countries are looking to improve and renew their power grid frameworks, leading to a growing demand for low-voltage circuit breakers. The reliability and efficiency of modern grid systems is of paramount importance, leading to a high need for security devices such as low-voltage circuit breakers.
The growing demand for electricity and widespread grid connectivity in developing regions is likely to be a major driver for the global low-voltage circuit breaker market over the forecast period. Africa is likely to emerge as a major market for electricity-related advances in the coming years. The growing economy in a number of countries in Africa has led to a corresponding rise in the need for a robust, stable electricity framework. More than 60% of the population of Africa lived without electricity in 2017, which is a key concern for governments all over the continent. Several key governments have taken up long-term projects to provide electricity to all of their citizens, resulting in a growing demand for electrical components and devices. The global low-voltage circuit breakers market is likely to benefit enormously from these developments over the coming years, as Africa is likely to emerge as a major market for electrical systems over the forecast period.
On the other hand, the ease of producing circuit breakers is likely to create a considerable threat from unorganized producers of low-voltage circuit breakers.
The global low-voltage circuit breakers market is segmented on the basis of type, application, and region. By type, the global low-voltage circuit breaker market is segmented into molded-case circuit breaker, miniature circuit breaker, and air circuit breaker. By application, the global low-voltage circuit breaker market is segmented into energy allocation, automatic circuit shutoff, and others.
The global low-voltage circuit breaker market is segmented by region into North America, Central and South America, Europe, the Middle East and Africa, and Asia Pacific.
Asia Pacific is likely to be the major regional segment of the global low-voltage circuit breaker market over the forecast period. The growing economic landscape in emerging APAC countries is likely to be a major driver for the global low-voltage circuit breaker market, as the number of urban users in Asia Pacific is increasing rapidly. This is likely to be a major driver for the low-voltage circuit breaker market in the region, as urban users demand more sophisticated electrical grid networking in residential as well as commercial applications. Countries such as India, China, Indonesia, Korea, Thailand, Japan, and Malaysia are likely to play a crucial role in the development of the low-voltage circuit breaker market in the region, as these countries are on the way to steady economic development.
Europe and North America are also likely to remain key contributors to the global low-voltage circuit breakers market over the forecast period due to the growing demand for renovation of the electricity grid infrastructure, which is likely to lead to a rising demand for advanced devices such as low-voltage circuit breakers.
Leading players in the global low-voltage circuit breakers market include ABB, Schneider Electric, Mitsubishi Electric Corporation, Siemens AG, Eaton, Shanghai Liangxin Electrical Co. Ltd., Delixi, HangShen Electric, CHINT Group, Hyundai Electric and Energy Systems Co. Ltd., Fuji Electric FA Components and Systems Co. Ltd., Changshu Switchgear Mfg Co. ltd., Hager Group, Shanghai Electric Co. Ltd. (People’s Electric Appliance Factory).
Global Low-Voltage Circuit Breakers Market: Competitive Landscape
ABB (Switzerland), Mitsubishi Electric Corporation (Japan), Schneider Electric (France), Siemens AG (Germany), and Eaton (Ireland) are the major five players operating in the global low-voltage circuit breakers market. ABB held the largest share among top five players with a share of 16.5% in 2017, followed by Mitsubishi Electric Corporation and Schneider Electric with respective shares of 9.2% and 5.4% repectively. These companies are adopting strategies such as contracts and expansion to improve their position in the market. Companies are competing based on cost, product quality, and reliability and its vital for them to offer cost-effective and superior technology to succeed in the competitive market.
ABB is the leading company in the low-voltage circuit breakers market, offers control room solutions, communication networks, drives, high-voltage products, low-voltage products and systems, measurement and analytics, mechanical power transmission, and medium-voltage products across the globe. The company focuses on expanding its high value-add solutions to regions like Asia-Pacific, Middle East & Africa, Europe, and America. As US and Middle East countries have witnessed increasing investments in the residential and commercial sector, in the recent years, these countries are actively involved in the development of high renewable energy generation projects.
Schneider Electric is primarily engaged in a wide range of products to customers in a variety of industries and customer segments. It focuses on continuous innovation; Schneider Electric has the capability to bring new technology high-quality products and solutions through research and development. Moreover, the company has involved in the digital transformation of energy management and automation in homes, buildings, data centres, infrastructure, and industries. Company primarily focusing on acquiring more contracts/customers from the emerging regions, such as the Middle East and Asia-Pacific.
Mitsubishi Electric Corporation is one of the global leaders that manufactures, distributes, and sells electrical and electronic equipment. It provides solutions for industrial automation and home automation. The company focuses on six business segments such as industrial automation systems, energy and electric systems, home appliances, information and communication systems, and electronic devices. Moreover, the rise in the number of contracts and partnerships with the governments and major players, indicates the company is focusing on obtaining a higher number of clients for its business growth.
Siemens AG Industries operates in the fields of electrification, automation, and digitalization across the world. The company mainly focuses on products which are used in energy and power industries. As most of the Asian countries are investing more on power distribution and renewable energy segments, the company is looking for an opportunity for new contracts to cater the developing countries such as China, Japan, and India particularly.
Eaton is global power management company which provides energy-efficient solutions to customers to manage electrical, hydraulic, and mechanical power in an efficient, safe, and sustainable manner. Eaton focuses on increasing profitability by diversifying its business and developing innovative products and solutions to increase its market share. The company focuses on rapid advancements in research and development sector, it is looking for new opportunities in the Middle East. With the new development and support contracts for low-voltage circuit breakers, the company would increase its market share and the overall revenue.
The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through partnership & collaboration followed by mergers & acquisitions during the forecast period. These strategies are widely adopted to increase their presence and the customer base. The competitive environment in the market is likely to intensify further due to the increase in new product developments and business expansions.