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Global Circuit Breaker Market Share, Growth, Analysis By Voltage: Medium Voltage, High Voltage; By Insulation Type: Vacuum Circuit Breakers, Air Circuit Breakers, Gas Circuit Breakers, Oil Circuit Breakers; By Installation: Outdoor, Indoor; By End-Use: Residential, Commercial, Industrial, Utility; Regional Analysis; Competitive Landscape; 2023-2028
Global Circuit Breaker Market Outlook
The global circuit breaker market size reached a value of over USD 8.64 billion in 2022. The market is further estimated to grow at a CAGR of 5.70% in the forecast period of 2023-2028.
Rising Demand for Vacuum Circuit Breakers to Aid the Market Growth
Based on insulation type, the demand for vacuum circuit breakers is witnessing a steady growth. Vacuum circuit breakers are increasingly used in medium voltage applications, owing to their multiple advantages like high dielectric power, reduced fire risk, no noise generation during the operation, and low power to control operations. Also, vacuum circuit breakers possess better reliability due to hard contact materials, compact size, and long life as compared to air circuit breakers. This is because they are enclosed in a vacuum bottle, which controls contact erosion, thereby reducing corrosion and offering easy maintenance.
The efforts taken by market players in developing advanced vacuum circuit breakers are likely to aid the market over the forecast period. Various leading companies are introducing innovative vacuum circuit breakers equipped with thermal monitoring sensors, digital connectivity, and IoT sensors, among others, to provide improved machine reliability, enhanced safety, a better consumer experience, additional safety, and high machine reliability.
Market Segmentation
A circuit breaker is an electrical safety device that prevents damage to a power system during short circuit or overcurrent. It can be operated both automatically and manually. Some of the leading types of circuit breakers include oil circuit breakers, air circuit breakers, vacuum circuit breakers, and gas circuit breakers, among others.
The market for circuit breaker, by voltage, is bifurcated into:
- Medium Voltage
- High Voltage
Based on insulation type, the market is segmented into:
- Vacuum Circuit Breakers
- Air Circuit Breakers
- Gas Circuit Breakers
- Oil Circuit Breakers
On the basis of installation, the market is classified into:
- Outdoor
- Indoor
Based on end-use, the market is divided into:
- Residential
- Commercial
- Industrial
- Utility
The regional markets for circuit breaker can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand from End-Use Sectors to Drive the Market Growth of Circuit Breaker
The rapid urbanisation is bolstering the demand for electricity in various end-use sectors and thus, the requirement for circuit breakers to protect the electrical system from damage. The increasing awareness about the importance of circuit breakers in a power system for better electrical functionality, coupled with their rising availability in wide varieties and different technologies, is contributing to the circuit breaker market expansion.
The development of eco-friendly circuit breakers that eliminate the use of sulphur hexafluoride (SF6) is aiding the market development. This is also increasing the adoption of CO2 in circuit breakers to enable a complete reduction in global warming potential (GWP) as compared to SF6. Furthermore, the expanding production of electric vehicles is propelling the use of circuit breakers to enhance safety and reduce the costs of electric vehicles.
The development of smart cities and favourable government initiatives towards electrification of homes are providing impetus to the circuit breaker market development. The introduction of digital circuit breakers combined with smart software and connectivity that enable customers to remotely monitor and control energy use in buildings is expected to augment the market over the forecast period.
Key Players in the Global Market for Circuit Breaker
The report gives a detailed analysis of the following key players in the global circuit breaker market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Schneider Electric SE
- Eaton Corporation plc
- Mitsubishi Electric Corporation
- Siemens AG
- CG Power and Industrial Solutions Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Voltage |
|
| Breakup by Insulation Type |
|
| Breakup by Installation |
|
| Breakup by End-Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Trade Data Analysis |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Application
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Circuit Breaker Market Analysis
8.1 Key Industry Highlights
8.2 Global Circuit Breaker Historical Market (2018-2022)
8.3 Global Circuit Breaker Market Forecast (2023-2028)
8.4 Global Circuit Breaker Market by Voltage
8.4.1 Medium Voltage
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 High Voltage
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Circuit Breaker Market by Insulation Type
8.5.1 Vacuum Circuit Breakers
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Air Circuit Breakers
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Gas Circuit Breakers
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Oil Circuit Breakers
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global Circuit Breaker Market by Installation
8.6.1 Outdoor
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Indoor
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Circuit Breaker Market by End-Use
8.7.1 Residential
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Commercial
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Industrial
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Utility
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.8 Global Circuit Breaker Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code: 853620)
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Schneider Electric SE
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Eaton Corporation plc
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Mitsubishi Electric Corporation
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Siemens AG
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 CG Power and Industrial Solutions Limited
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Global Circuit Breaker Market: Key Industry Highlights, 2018 and 2028
2. Global Circuit Breaker Historical Market: Breakup by Voltage (USD Billion), 2018-2022
3. Global Circuit Breaker Market Forecast: Breakup by Voltage (USD Billion), 2023-2028
4. Global Circuit Breaker Historical Market: Breakup by Insulation Type (USD Billion), 2018-2022
5. Global Circuit Breaker Market Forecast: Breakup by Insulation Type (USD Billion), 2023-2028
6. Global Circuit Breaker Historical Market: Breakup by Installation (USD Billion), 2018-2022
7. Global Circuit Breaker Market Forecast: Breakup by Installation (USD Billion), 2023-2028
8. Global Circuit Breaker Historical Market: Breakup by End-Use (USD Billion), 2018-2022
9. Global Circuit Breaker Market Forecast: Breakup by End-Use (USD Billion), 2023-2028
10. Global Circuit Breaker Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Circuit Breaker Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Circuit Breaker Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Circuit Breaker Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Major Exporting Countries by Value
23. Major Importing Countries by Value
24. Major Exporting Countries by Volume
25. Major Importing Countries by Volume
26. Global Circuit Breaker Market Structure
Key Questions Answered in the Report
In 2022, the market attained a value of more than USD 8.64 billion.
The major market drivers include the availability of different types of circuit breakers, the development of eco-friendly circuit breakers, increasing production of electric vehicles, increasing demand for vacuum circuit breakers, and development of smart cities.
The key market trends guiding the growth of the market include the rising demand for electricity from various end use sectors, emerging need to protect electric power systems from damage, government initiative towards electrification of the economy, and initiatives taken by market players to develop digital circuit breakers.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The global circuit breaker market is assessed to grow at a CAGR of 5.70% between 2023 and 2028.
Circuit breakers are essential to interrupt the current flow and manually or automatically protect and control electrical power systems. In addition, circuit breakers are reliable, sensitive, and respond quickly, due to which they are preferred as alternatives to fuses.
The significant voltages of circuit breakers include medium voltage and high voltage.
The various insulation types of circuit breakers include vacuum circuit breakers, air circuit breakers, gas circuit breakers, and oil circuit breakers.
The different installations of circuit breakers include outdoor and indoor.
The major end-uses of circuit breakers include residential, commercial, industrial, and utility.
The major players in the market are Schneider Electric SE, Eaton Corporation plc, Mitsubishi Electric Corporation, Siemens AG, and CG Power and Industrial Solutions Limited, among others.
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