Global Low Voltage Circuit Breaker Market By Type (Miniature Circuit Breaker, Molded Case Circuit Breaker and Air Circuit Breaker), By Application (Shut-off Circuit, Energy Allocation and Others), By End User (Commercial, Residential and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Low Voltage Circuit Breaker Market
The Global Low Voltage Circuit Breaker Market size is expected to reach $4.5 billion by 2026, rising at a market growth of 5.8% CAGR during the forecast period. The expansion in the market of low voltage circuit breakers is significantly attributed to the fact that the demand in electricity is tenaciously increasing in the developing nations. Besides, the expansion in infrastructural ventures for safe electrical dispersion is anticipated to guide the low voltage circuit breakers market in the coming years.
Low Voltage Circuit Breaker Market Size, By Type, 2020-2026
A circuit breaker is an electrical switch that works spontaneously and its essential function is to separate portions of the electrical distribution system. The low voltage circuit breakers ensure the no damage happens due to electrical short circuit or overload. Low voltage circuit breakers are not straightforwardly intended to open the circuit like breaker or fuse, its opening relies on the degree and time of overload current. A low voltage circuit breaker is appropriate for 600 volts or under 600 volts rated circuits. The low voltage circuit breakers can be reset either physically or consequently to continue its normal function.
The developing economies in Asian and African regions are very much prone to constant power lags and a network collapses, hence the area presents huge potential for the deployment of effective electric products. Moreover, growing measures to cut down fire hazards, faults in electrical supply, and significant operational neglect will eventually influence the dynamics of the industry.
Low Voltage Circuit Breaker Market Share, By End User, 2019
The globally spread coronavirus has a massive effect on the different industries and nations across the world. Due to the lockdown in every single economy examined in the report and others, there is a decline in the growth rate of the businesses, for example, construction and building, transportation, oil and gas, energy, and others. Furthermore, there is a decline in electricity demand from the COVID-19 influenced areas since the last three months, which is required to hamper the development of the low voltage circuit breaker market in the next couple of years. In Europe, economies, for example, Germany, France, Spain, Italy, and others are following severe measures to break the spread of coronavirus in their respective areas.
Free Valuable Insights: Global Low Voltage Circuit Breaker Market to reach a market size of $4.5 billion by 2026
Based on Type, the market is segmented into Miniature Circuit Breaker, Molded Case Circuit Breaker and Air Circuit Breaker. Based on Application, the market is segmented into Shut-off Circuit, Energy Allocation and Others. Based on End User, the market is segmented into Commercial, Residential and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Mitsubishi Electric Corporation, Siemens AG, Panasonic Corporation, Schneider Electric SE, Eaton Corporation PLC, The Danfoss Group, Hager Group, Carling Technologies, Inc., and CHINT Group.
Recent Strategies Deployed in Low Voltage Circuit Breaker Market
- Feb-2020: Eaton signed an agreement with Abunayyan Holding. Following the agreement, the companies established a joint venture to produce and service low- and medium-voltage switchgear in the Middle East. The joint venture will do business as Eaton Arabia and will have locations in Dammam, Saudi Arabia, and Dubai, United Arab Emirates.
- Mar-2019: Siemens completed the acquisition of Russelectric, a leading U.S. manufacturer of power control systems including paralleling switchgear and automatic transfer switches. The acquisition brings together the companies’ complementary electrical power portfolios and service organizations.
- Feb-2019: Schneider Electric launched Masterpact MTZ, the next generation high-power low voltage circuit-breakers assembled in the Indian market. Masterpact MTZ is a first-of-its-kind air circuit- breaker in the market that provides the customer with enhanced performance, reliability and safety.
- Dec-2018: Eaton unveiled a range of cutting-edge power distribution products. The products launched are: Eaton’s RVAC SF6 Ring Main Unit (RMU), Eaton’s RVAC SF6 Ring Main Unit (RMU), and Eaton’s PSL series Air Circuit Breakers (ACB). Its Air Circuit Breakers are highly reliable PSL series that delivers performance without compromise as it comes with a very high arc handling capacity. The PSL is operates with a special grease to work for low temperature (up to -40 C). PSL ACBs offers excellent mechanical and insulation capability, enhanced product and electrical lifecycle and highly reduced bounce.
- Mar-2018: ABB India opened the first smart factories in Bangalore for the production of electrical protection and connection solutions. The Bangalore facility manufactures ABB’s range of air and molded case circuit breakers, electronic and thermal relays, contactors, pilot devices and ABB’s latest range of ‘plug and play’ low-voltage circuit breaker, Emax 2.
- Sep-2017: ABB acquired GE Industrial Solutions, which ABB has integrated into its Electrification Products (EP) division. The acquisition helped the company in capturing the market share in the global switchgear market.
- Jun-2017: Siemens opened the 225,000 square-foot low voltage circuit breaker and manufacturing plant, which includes R&D, engineering and skilled manufacturing. The facility manufacturers critical technology that supports the safe and efficient movement of power across the residential, commercial, industrials and utility markets, including low voltage switchgear, switchboards, power panels, molded case circuit breakers (MCCBs) and air circuit breakers.
- Feb-2017: Schneider Electric introduced two new range of energy-efficient contractors; TeSysD and NSXm. These contractors have been launched for switching and control applications and new compact circuit breakers to ensure protection against low voltage fluctuations.
Scope of the Low Voltage Circuit Breaker Market Analysis
- Miniature Circuit Breaker
- Molded Case Circuit Breaker
- Air Circuit Breaker
- Shut-off Circuit
- Energy Allocation
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- ABB Group
- Mitsubishi Electric Corporation
- Siemens AG
- Panasonic Corporation
- Schneider Electric SE
- Eaton Corporation PLC
- The Danfoss Group
- Hager Group
- Carling Technologies, Inc.
- CHINT Group
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Low Voltage Circuit Breaker Market Related Reports:
What would be the size of low voltage circuit breaker market by 2026?
The low voltage circuit breaker market is projected to reach USD 4.5 billion by 2026.
What are the key factors that drive low voltage circuit breaker industry?
The major factors that are anticipated to drive the low voltage circuit breaker industry include safe & secure distribution to strengthen market.
Who are the top market players in the low voltage circuit breaker industry?
ABB Group, Mitsubishi Electric Corporation, Siemens AG, Panasonic Corporation, Schneider Electric SE, Eaton Corporation PLC, The Danfoss Group, Hager Group, Carling Technologies, Inc., and CHINT Group.
Which segment shows highest share the low voltage circuit breaker market in 2019?
The miniature circuit breaker segment held the biggest share of the overall industry in 2019, due to increment in demand for miniature circuit breakers from cable protection, protection of small motors, x-ray machines, UPS systems, and other residential and business applications.
Which region led of low voltage circuit breaker market over the forecast period?
The Asia Pacific is anticipated to generate higher revenue in the low voltage circuit breakers market during the forecast period.