According to a new market report published by Transparency Market Research "Circuit Breakers and Fuses (Low voltage, Medium voltage and High voltage) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the market was valued at USD 11.16 billion in 2012, and is expected to reach USD 15.90 billion by 2019, growing at a CAGR of 5.2% from 2013 to 2019. Lack of adequate power infrastructure and increasing demand for reliable electricity delivery are the major driving forces of this market.
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Majority of electronic devices and equipments cannot distinguish between normal loads and overloads. Hence, electronic devices keep drawing current until they burn themselves. Circuit breakers and fuses act as vital protecting devices by limiting and minimizing fault. However, the choice between fuses and circuit breakers are governed by space, maintenance and environmental restraints, and customer maintenance.
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Globally, circuit breakers held majority of shares over fuses in 2012. This owes to emergence of smart grids and efforts taken by various governments across the globe to propose new regulations that are expected to have significant impact on energy efficiency. By voltage type, low voltage circuit breakers held majority of share over medium voltage and high voltage circuit breakers due to cost competitiveness offered by them.
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Geographically, North America dominated the circuit breakers and fuses market in 2012. This is attributed to stringent legal directives and regulations to replace old and worn out power infrastructure. However, emerging economies in Asia Pacific such as Korea, Taiwan, India, China and Japan are expected to be the fastest growing regions for circuit breakers and fuses market. This growth is majorly driven by rapid urbanization and expansion of power generation and transmission industry, construction and transportation sector among others.
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The global circuit breakers and fuses market contains numerous small scale as well as large scale players. However, General Electric held majority of shares in 2012. Major industry participants include ABB Ltd, Alstom SA, Eaton Corporation, G&W Electric Company, General Electric, Maxwell Technologies Ltd., Mitsubishi Electric, Pennsylvania Breaker LLC, Schneider Electric SA, Siemens AG, and Toshiba Corporation.