A new Technavio global market research report offers circuit breakers, fuses, and relay market segmentation by product (circuit breaker, fuse, and relays) and by geography (Americas, APAC, and EMEA). Leading vendors analyzed in this market research are ABB, GE, Schneider Electric, and Siemens.
Technavio has released updated information on the global circuit breaker, fuse, and relay market, which is anticipated to grow at a CAGR of around 7% by 2020. The global demand for circuit breakers, fuses, and relays will increase rapidly due to increased construction activities that are powering urbanization across the world. Factors such as the recent increase in the number of automobiles being manufactured across the globe and increasing number of electronic components used in modern automobiles will aid in the growth of this market during the predicted period.
In this market, circuit breakers will be the most commonly used product during the forecast period and will account for an impressive market share of more than 46% by 2020. Factors such as the growing demand for electricity and the expansion of T&D networks will aid in bolstering the demand for circuit breakers on a global scale.
“Circuit breakers, protective relays, and fuses are widely used in the power industry for the generation, transmission, and distribution of power. These devices are also used in the renewable energy sector, where an increase in wind, solar, geothermal, and hydropower energy generation will bolster demand for circuit breakers, protective relays, and fuses. According to the US Energy Information Administration, the world consumed 524 quadrillion British Thermal Units (BTU) of energy in 2011. The consumption of energy is expected to rise to 630 quadrillion BTU by 2020 and 820 quadrillion BTU by 2040. More than 85% of the surge in demand for energy (during 2010-2040) will emanate from the developing countries that will register strong economic growth,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
An interesting trend in this market is the growth of the global smart grid market. Smart grids have a significant impact on the global energy economy, especially in terms of energy transmission and distribution. These grids enable the integration of distributed energy resources (DER), such as power from renewable energy sources, and help utilities adapt to changing demand patterns. Therefore, smart grids form an integral part of a sustainable, participatory, decentralized, safe, and secure energy generation system.
Global circuit breaker, fuses, and relay market by product 2020
Source: Technavio
The key leading vendors analyzed in this market research are ABB, GE, Schneider Electric, and Siemens. Since the market is competitive, the adoption of circuit breakers, fuses, and relays is largely spread across different consumer segments with electronic and electrical capabilities. The market is also fragmented due to the presence of a large number of small and regional vendors.
This report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. There are many key drivers, challenges, and opportunities that are discussed in detail.
A more detailed analysis is available in the Technavio report, Global Circuit Breaker Fuse, and Relay Market 2016-2020.
We can customize this report by other regions and specific segments upon request.
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