Technavio, a tech-focused market research company, has published a new study on the global circuit protection market, which is expected to grow at a CAGR of more than 7% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market research analysts categorize the global circuit protection market into the following key regions: the Americas, APAC, and EMEA.
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Circuit protection market in Americas: The growth of the automotive industry will boost the demand for high-end circuit breakers and fuses in the American market. The US, Canada, and Mexico are projected to hold the largest market shares in the region during the forecast period. Technological advancements and product innovations will increase the use of circuit protection devices for automotive applications. The expansion of the circuit protection vendors to South American countries will help the Americas hold its market share over the next four years.
According to Sayani Roy, a lead analyst at Technavio, specializing in research on tools and components, “The increasing upgrading and expanding of power grid infrastructure will lead to an increase in the adoption of circuit protection devices in the American market. Moreover, the high spending on commercial construction and demand for electrical systems across the region will further propel the growth of the market.”
Circuit protection market in APAC: The rapid industrial development and urbanization will make APAC the fastest growing region in the global market. Rising investments in the expansion of power transmission and distribution networks in emerging countries like India and China will augment the development of the APAC market. Moreover, increasing government investments to encourage home-grown products will result in the development of the semiconductor components industry, which in turn will lead to growth of the market in this region.
Circuit protection market in EMEA: The infrastructural development and the recovery of the construction industry in EMEA will boost the demand for circuit protection devices in this region. The increase in investment for infrastructural development in countries such as UAE, Saudi Arabia, and Qatar will create new opportunities for manufacturers in the EMEA region.
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The top vendors operating in the global circuit protection market are:
- ABB
- Eaton
- Siemens
- Mitsubishi Electric
- Alstom
Other prominent vendors in the market include Automation Systems Interconnect, AVX, Bel Fuse, Bentek, Bourns, Communications Electrical Equipment & Supply, E-T-A, G&W Electric, General Electric, Hitachi, Legrand, Littelfuse, Mersen, Pennsylvania Breaker, Powell Industries, S&C Electric Company, Schneider Electric, SIBA, TE Connectivity, and Toshiba.
A more detailed analysis is available in the Technavio report titled, ‘Global Circuit Protection Market 2017-2021’. Technavio also customizes reports by additional regions and specific segments upon request.
Other related reports:
- Global Electroactive Polymers Market 2017-2021
- Global Circuit Breaker Fuse and Relay Market 2016-2020
- Global Protective Relay Market 2016-2020
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