- The key vendors in the global circuit breaker market 2015-2019 are ABB Ltd., Alstom SA, Eaton Corp., General Electric (GE) Co., Mitsubishi Electric Power Products Inc., Schneider Electric SA, and Siemens AG
London, 22 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global circuit breaker market 2015-2019. Rapidly increasing demand from the APAC region is a key trend observed in this market. In APAC, China and India are the dominant markets as they contain a large number of low-cost manufacturing hubs. These low-cost manufacturing hubs are likely to encourage major enterprises to invest in setting up production units in this region. Rapid economic development in this region has resulted in the increased demand for power and transmission lines. This increase in demand will fuel growth in this market. The global circuit breaker market is expected to grow at a CAGR of 4.85% during the forecast period of 2014-2019.
The expansion and upgrade of electrical transmission networks are expected to amplify the demand for circuit breakers globally. Rapid urbanization and industrialization in regions like China and India will lead to the consequent rise in energy requirements. Also, several countries are renovating their existing power distribution systems with new energy-efficient systems, which will drive market growth significantly. Furthermore, an increase in the construction activities in the UAE is expected to bolster the demand for electricity and power distribution systems, which in turn will increase the demand for circuit breakers.
“Recent government regulations are likely to have an impact on circuit breaker manufacturers, as they are required to invest more in R&D to develop eco-friendly techniques. These include the use of computational fluid dynamics to produce energy-efficient power circuit breakers that support the newly upgraded power transmission systems,” says Faisal Ghaus, Vice President of Technavio Research.
“The US and EU are stringent in their energy policies and are introducing new regulations for the replacement of old transmission systems with more energy efficient, environmentally friendly systems. As a result, some vendors are coming up with vacuum based circuit breakers that replace the SF6 gas circuit breakers to abide by environmental regulations and standards.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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