Low Voltage Circuit Breaker Market Overview - 2027
The global low voltage circuit breaker market size was valued at $3.4 billion in 2019, and is projected to reach $4.4 billion by 2027, growing at a CAGR of 4.9% from 2020 to 2027.
A low voltage circuit breaker is a type of electromechanical switch that breaks the circuit manually or automatically under abnormal conditions such as over current, over voltage, and short circuit and works up to 1,000 V voltage rating. Its basic function is to detect a fault function by interrupting continually and immediately discontinue electric flow. As compared to fuse, which operates once and needs to replace, a low voltage circuit breaker can be reset either manually or automatically to resume normal options.
The global low voltage circuit breaker market is segmented on the basis of type, application, end use industry, and region. Based on type, it is categorized into miniature circuit breaker, molded case circuit breaker, and air circuit breaker. On the basis of application, it is divided into energy allocation, shut-off circuit, and others. By end user industry, the market is fragmented into residential, commercial, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global low voltage circuit breaker industry covers in-depth information of the major participants. Some of the major players in the market include ABB, Ltd., Changshu Switchgear Mfg. Co., Ltd., People Electric Appliance Group Co., Ltd, Shanghai Delixi Group Co., Ltd, Schneider Electric SE, Eaton Corporation plc, Hager Group, Fuji Electric FA Components & Systems Co., Ltd., Hyundai Electric & Energy Systems Co., Ltd., Shanghai Liangxin Electrical Co., Ltd. (Nader), Mitsubishi Electric Corpoation, Siemens AG, Chint Group, Panasonic Corporation, Danfoss, Rockwell Automation, Inc., Circutor SA, Lovato Electric S.P.A., WEG Group, E-T-A GmbH, Carling Technologies, Inc., Schurter Holding AG, and Britec Electric.
The key players are adopting numerous strategies such as product launch and partnership to stay competitive in the low voltage circuit breaker market.
For instance, Rockwell Automation, Inc. (an industrial automation products and controls company) launched new Allen-Bradley 140 MP motor protection circuit breakers. This new device is aimed at providing short circuit protection and overload protection up to 32 A, and interrupting ratings up to 100 kA at 400V. This has enhanced the product portfolio of the company.
By Type
Miniature Circuit Breaker is projected as the most lucrative segment.
Low Voltage Circuit Breaker Market, by Type
By type, the miniature circuit breaker segment held the largest market share in 2019, owing to increase in demand for miniature circuit breakers from cable protection, small motors protection, x-ray machines, UPS systems, and other residential & commercial applications.
By Application
Shut-Off Circuit is projected as the most lucrative segment.
Low Voltage Circuit Breaker Market, by Application
On the basis of application, the shut-off circuit segment dominated the global market in 2019, in terms of share, attributed to increase in faulty operations in the electrical circuits such as overloading, short circuit faults, motor powered devices faults, and others in the residential, commercial, and industrial applications.
By End-use Industry
Commercial is projected as the most lucrative segment.
Low Voltage Circuit Breaker Market, by End-Use Industry
By end use industry, in 2019, the commercial segment held the largest market share, owing to increase in demand for low voltage circuit breakers from the commercial sites such as shops, complexes, malls, theatres, and other applications.
By Region
Asia-Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Low Voltage Circuit Breaker Market, by Region
Asia-Pacific garnered the highest share in the low voltage circuit breaker market in 2019, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to numerous factors such as presence of huge consumer base and the existence of key players in the region. Moreover, presence of the developing countries such as China, Japan, Australia, and India is anticipated to contribute toward the growth of the market in Asia-Pacific. In addition, according to the International Renewable Energy Agency, China and India are in the top five renewable energy producing countries across the globe, which further increases the demand for low voltage circuit breakers in this region.
COVID-19 Impact on the Market
The worldwide spread of coronavirus has huge impact on the various industries and countries across the globe. Owing to the lockdown in each and every economy analyzed in the report and others, there is decrease in the growth rate of the industries such as construction & building, transportation, oil & gas, energy, and others. In addition, there is decrease in electricity demand from the COVID-19 affected regions since the past three months, which is expected to hamper the growth of the low voltage circuit breaker market in the next one or two years. In Europe, economies such as Germany, France, Spain, Italy, and others are following strict measures to break the spread of coronavirus in their respective regions.
Power demand falls across the globe, owing to the shutting off of the operations, manufacturing, and delay in renewable & other infrastructure installations is further expected to restrain the growth rate for the global low voltage circuit breaker market in the year 2020, and is expected to increase by the end of the first quarter of 2021.
Key Benefits For Stakeholders
- The report includes in-depth global low voltage circuit breaker market analysis of different segments and provides market estimations between 2020 and 2027.
- A comprehensive analysis of the factors that drive and restrict the growth of the global market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the global low voltage circuit breaker market growth, in terms of value.
- The low voltage circuit breaker market forecast analysis from 2020 to 2027 is included in the report.
- The key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current global low voltage circuit breaker market trends and future estimations from 2020 to 2027, which helps identify the prevailing market opportunities.
Low Voltage Circuit Breaker Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Application |
|
 By End User |
|
 By Region |
|
 Key Market Players | CIRCUTOR, SA, FUJI ELECTRIC FA COMPONENTS & SYSTEMS CO., LTD., SIEMENS AG, ABB LTD., HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD., ROCKWELL AUTOMATION, INC., SHANGHAI DELIXI GROUP CO., LTD., MITSUBISHI ELECTRIC CORPORATION, EATON CORPORATION PLC, PEOPLE ELECTRIC APPLIANCE GROUP CO., LTD, HAGER GROUP, SCHURTER HOLDING AG, SHANGHAI LIANGXIN ELECTRICAL CO., LTD. (NADER), PANASONIC CORPORATION, E-T-A GMBH, CARLING TECHNOLOGIES, INC., SCHNEIDER ELECTRIC SE, WEG GROUP, LOVATO ELECTRIC, S.P.A., CHANGSHU SWITCHGEAR MFG. CO., LTD., CHINT GROUP, DANFOSS |
Analyst Review
Rapid growth in the building & construction in residential sectors is the key factor attributed to the leading position of Asia-Pacific region in the global low voltage circuit breaker market. The Asia-Pacific region is further expected to provide lucrative opportunities to leading low voltage circuit breaker manufacturers, owing to its huge potential to set up manufacturing plants and surge in demand for circuit breakers from residential and commercial applications.
Increase in demand for reliable & continuous power supply and safety for electrical circuits are the key factors driving the growth of the global low voltage circuit breaker market during the forecast period. However, safety regulation regarding the product quality of circuit breaker and resulting opportunity for unorganized sector is the key factor hampering the growth of the market. On the contrary, increase in investment toward R&D to meet future requirements of safety in the smart grid infrastructures is expected to create lucrative opportunity for the key players to maintain the pace in the low voltage circuit breaker market in the upcoming years. Among the analyzed geographical regions, Asia-Pacific is likely to account for the highest revenue in the market throughout the forecast period, followed by North America, Europe, and LAMEA.
The upcoming decade is all about energy management and establishment of smart and intelligent electric infrastructure. In line with this vision, key industry leaders are planning to develop their product portfolio that will be compatible to smart infrastructure. This further means that transition toward smart and intelligent infrastructure in the coming decade is expected to play vital in the development of new age low voltage circuit breakers.
In terms of revenue growth, the CAGR of the global low voltage circuit breaker market is 4.9% by 2027.
Increase in investment on research & developments to meet future requirements of safety is the key trend in the low voltage circuit breaker market.
To get latest version of low voltage circuit breaker market report can be obtained on demand from the website.
The potential customers of the low voltage circuit breaker market are residential, commercial & small industrial and others.
The applications of the low voltage circuit breaker market are in household, commercial complexes, small industrial applications and others.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
On the basis of type, miniature circuit breaker segment will drive the low voltage circuit breaker market growth during the forecast period. On the basis of application, shut-off circuit segment will drive the growth of the low voltage circuit breaker market. On the basis of end use industry, commercial industry will propel the growth of the market.
Top players in the low voltage circuit breaker market are ABB Ltd., Schneider Electric SE, Mitsubishi Electric Corporation, Eaton Corporation plc, Siemens AG, Rockwell Automation, Inc., People Electric Appliance Group Co., Ltd., Panasonic Corporation, Chint Group, Fuji Electric FA Components & Systems Co., Ltd., Hyundai Electric & Energy Systems Co., Ltd., and Schurter Company.
In terms of revenue, the market size of low voltage circuit breaker market is anticipated to reach $4.4 billion by 2027, growing at CAGR of 4.9% from 2020 to 2027.
Asia-Pacific will provide business opportunities for low voltage circuit breaker market during the forecast period. This is attributed to the huge consumer base, increase in building & construction activities in the residential sector, high demand for uninterrupted and reliable power supply from consumers.
Loading Table Of Content...
