The Global Market for Fuses and Circuit Breakers is Forecast to Reach US$32.2 Billion by 2024

Growing Energy and Infrastructure Upgrade and Expansion Activity to Drive the Global Market for Fuses and Circuit Breakers, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Fuses and Circuit Breakers market. The global market for Fuses and Circuit Breakers is forecast to reach US$32.2 billion by 2024, driven by the rising activities in energy, infrastructure and construction sectors; growing use of automobile electronics; waxing demand for switchgears; and increase in deployment of fuses & circuit breakers as a control measure for high costs associated with equipment downtime.

A part of the power protection devices industry, fuses and circuit breakers are critical components in distribution grids designed and developed to offer protection against unexpected power outages resulting from overload, short circuits/fault currents, and/or ground fault. Fuses & circuit breakers are indispensable not only in transmission and distribution of electric power, but virtually every product that utilizes electrical energy such as automobiles, consumer electronics, computers, telecommunication /data communication circuits, handheld devices, and industrial equipment and machinery. With increased deployment of electrical and electronic equipment, the demand for power protection devices including circuit breakers and fuses gained momentum over the last decade, and with issues relating to stable power supply still continuing to irk industries/businesses worldwide, demand is forecast to continue its steady growth into the future. Going forwards, circuit breakers are expected to replace fuses in most applications given their ability to reset once the fault condition is rectified. Within the circuit breakers segment, low-voltage circuit breakers enjoy lion’s share of the market and score over medium and high-voltage versions with their cost competitiveness.

The global fuses and circuit breakers market growth is likely to be propelled by rising demand for electricity generation and power grids because of increasing global population, rapid urbanization and resulting industrialization in Asia, Africa, and Latin America. Molded case circuit breakers (MCCB) are exhibiting increasing growth globally due to strong demand from utilities, rapid industrialization, rural electrification, and focus on energy conservation programs in urban areas. The increasing requirement of motors is expected to create the need for more motor control centers that rely on motor protection circuit breakers for ensuring integrity and safety of motors from electrical overload or faults. Rising fragmentation related to production of MCCB and MCB is likely to limit growth of the global molded case circuit breakers market and affect profit margins. Since MCCB and MCB are widely used in mining activities, the slowdown in the mining sector is also anticipated to further hinder the market growth.

As stated by the new market research report on Fuses and Circuit Breakers, the U.S. represents one of the largest market worldwide supported by continuous efforts to upgrade and expand the electrical grid and the ensuing robust adoption of high value, specialty circuit protection devices. Rising residential and non-residential building activity in the country is also expected to bolster demand for associated fuses and circuit breakers. Asia-Pacific is projected to record the fastest compounded annual growth rate of 7.0% over the analysis period driven by strong economic growth, rise in fixed investment spending and rapid urbanization, that contributes towards increasing the demand for electric power T&D equipment. 

Key players in the market include ABB, Automation Systems Interconnect, Bel Fuse Inc., Bentek Corp., Bourns Inc., Carling Technologies Inc., Eaton Corporation Plc, E-T-A Elektrotechnische Apparate GmbH, Fuji Electric FA Components & Systems Co. Ltd., General Electric Company, Hitachi Industrial Equipment Systems Co, Ltd., Legrand, Littelfuse Inc., Mersen, Mitsubishi Electric Corp., Schneider Electric, SCHURTER Group, Sensata Technologies Inc., Siemens AG, TE Connectivity Corp., and Vicor Corp., among others.

The research report titled “Fuses and Circuit Breakers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and other strategic industry activities of global companies. The report provides market estimates and projections in value (US dollars) terms for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Middle East & Africa and Latin America. The report also analyzes the market by product segment – Fuses, and Circuit Breakers. In addition, the report provides value analytics for the US market by end-use sectors – Utility, Construction, Industrial Machinery, Electrical & Electronics, and Others.

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