ID: MRFR/E&P/5462-CR | 117 Pages | Published By Priya Nagrale on December 2018
Low-Voltage Circuit Breakers Market share is expected to attain a CAGR of 4.54%, with a global market figure of USD 1.5 billion during forecast period.
During the ongoing forecast period of 2022-2030, the Low-Voltage Circuit Breakers Market size is showing signs of improvement that will bear a good result by the end of the forecast period. During the period, the market is expected to attain a global CAGR of 4.54% amid the period and hence, reach a global market figure of USD 1.5 billion. In the historic forecast period that ended in 2019, the market reports showed that the market was valued at a final sum of USD 1.2 billion. The rising degree of up-gradation and modernization of aging infrastructure that has been put up for sale at various global locations is likely to promise the market good and scalable growth by the end of the forecast period in 2030.
Due to the huge cases reported of the spread of coronavirus, the markets and lives of the common man have been at a standstill. The coronavirus disease is a harsh reality that has created considerable havoc which still needs time to come to terms with. Since the pandemic has come into the picture, the governments are in a dilemma to concentrate both on the development of the healthcare infrastructure, keep the economy running, and further, limit the disease from spreading and taking the stage of community transmission. But, keeping the pros and cons in mind, the industry players are still functional with whatever less they have so that the market is working to some extent.
The global market players are raising their investment with new market trends that will dominate the market during the ongoing and upcoming forecast period. Also, the investment will give rise to launch products and compete in the international market.
The low-voltage circuit breakers market is witnessing the emergence of safe and secure electrical distribution systems followed by the expansion of transmission and distribution of networks that will drive the market towards global growth by the end of the period in 2028. Further, the market is witnessing an increased rate of industrialization and urbanization followed by an increased focus on renewable energy generation techniques will help the market promise great revenues and returns by the end of the period.
However, one of the major factors that will restrain the market from growing is the association of high-cost regarding processes like installation and maintenance that might impact the growth of the market during the period.
The availability of technology is giving rise to huge techniques like the solar and increased emphasis on the battery systems for microgrids promise positive attributes for the market during the forecast period. Also, the fact of elimination of peaks or surges in the grid as there lies a generation of capabilities from renewable sources will help the market grow at a great rate.
The most prominent major key players in the low-voltage circuit breakers market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the low-voltage circuit breakers market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the low-voltage circuit breakers market all across the globe.
The low-voltage circuit breakers market has been divided all across the globe based on the type, application, end-user, and region.
Based on the Type
The market has been divided all across the globe based on the type into air circuit breaker (ACB), molded-case circuit breaker (MCCB), miniature circuit breaker (MCB), single pole MCB, double pole MCB, triple pole MCB, oil circuit breaker (OCB), and others.
Based on the Application
The market has been divided all across the globe based on the application into shut-off circuits, energy allocation, and others.
Based on the End-Users
The market has been divided all across the globe based on the end-users into railways, power generation, renewable, transmission, and distribution.
Based on the Region
The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The low-voltage circuit breakers market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging region, the largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as hubs of low-voltage DC circuits breakers and hence drives the market demand in this region. Moreover, increasing urbanization is another factor that creates more market demand.
The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that drive the market demand in this region. Increasing investment in various construction and infrastructural development programs creates more market demand. The presence of various major key players also drives the market demand in this region.
The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more power generation and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in various power generation projects drives the market demand in this region.
The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.
This global low-voltage circuit breakers market research report consists of the following components mentioned below:
This market research report contains factors that drive the growth of the low-voltage circuit breakers global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of the COVID 19 on the global market is mentioned. The future growth rate in the low-voltage circuit breakers market during the review period is estimated and mentioned.
Companies in the energy & power sector, distribution utilities, government and research organizations, low voltage circuit breaker suppliers, dealers, and manufacturers, state and national regulatory authorities, power and energy associations, and others.
|CAGR||4.54% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|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||
The predicted of the market is to touch a valuation of USD 1.5 Billion till 2028.
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.