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Circuit Breaker Market Analysis

ID: MRFR//0416-HCR | 188 Pages | Author: Anshula Mandaokar| November 2024

The circuit breaker market faces a complex array of factors that influence its dynamics. Supply and demand forces, technological breakthroughs, regulatory policies as well as economic conditions can all affect market dynamics. The market for circuit breakers has also been expanding recently, owing to the continuing urbanization, industrialization and infrastructural developments going on around the globe.
An important factor that affects the market for circuit breakers is growing electricity demand. As people become ever more reliant on electronic devices, the generation of power and its distribution take center stage. This ever-increasing need for electricity has spurred the market needs for circuit breakers, devices which protect electrical systems from overloads and short circuits. In addition, the increasing attention focused on renewable energy sources such as solar and wind power has kept this market expanding. For example, these types of energy all require highly reliable protection mechanisms in electrical circuits.
Through the incorporation of smart technologies, circuit breakers have been transformed. Smart circuit breakers that incorporate Internet of Things (IoT) features and are remotely monitored have received attention as they can increase efficiency, reduce down time, provide real-time data for preventive maintenance. This technological revolution has raised the need for sophisticated circuit breakers and create fierce competition between market players to innovate.
Global market dynamics for circuit breakers are also closely linked to regulatory standards and policies. Strict standards requiring reliable and safe electrical components have been a major driver for market growth. Standards promoting energy efficiency, safety and environmental protection have been promulgated by regulatory bodies all over the world, which affect standards governing design and manufacturing for circuit breakers. These standards have become absolutely necessary to keep the manufacturer competitive and acceptable in the market.
Moreover, the circuit breaker market is very sensitive to economic conditions. Investment patterns, construction activities and industrial growth are influenced by economic fluctuations in currency values as well as geopolitical factors. These fluctuations are directly reflected in the requirements for circuit breakers, which may be used not only at home but also commercially and industrially. For example, in recessionary years when construction projects slow down there will be a temporary decrease in the demand for circuit breakers.
The competitive landscape and market consolidation are also key factors influencing the structure of markets. The circuit breaker market is very crowded, with global and regional players fighting to make their mark. To expand market presence, broaden product portfolios and seize upon emerging opportunities or risks, mergers and acquisitions have become commonplace among the major players. A competitive environment leads to innovation and affects pricing strategies that can accommodate different consumer needs.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Type, Distribution Channel, and RegionGeographies CoveredNorth America, Europe, AsiaPacific, and the Rest of the WorldCountries CoveredThe U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and BrazilKey Companies Profiled ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi (Japan), Toshiba (Japan), Powell (US), TE Connectivity (Switzerland), CG Power (India), Tavrida Electric (Switzerland), Larsen & Toubro (India), Fuji Electric (Japan)Key Market OpportunitiesUpcoming smart cities and aging power infrastructureKey Market DynamicsNeed for high reliability and safe operation of sub-station equipment

Global Circuit Breaker Market Overview:


Circuit Breaker Market Size was valued at USD 8.29 billion in 2023. The Circuit Breaker market industry is projected to grow from USD 8.81 Billion in 2024 to USD 13.54 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.51% during the forecast period (2024 - 2032). Increased investments in the renewable power industry and the Need for high reliability and safe operation of sub-station equipment are the key market drivers enhancing the market growth.


Global Circuit Breaker Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Circuit Breaker Market Trends




  • Increasing Investments in Industrial Sector are driving the market growth




The increasing investment in the industrial sector and the growing investment to leverage the industrial infrastructure increase the demand for electrical switching devices in the market. These devices are predominantly used in the industrial and commercial sectors. 


According to the World Investment Report 2021, Asia-Pacific received USD 535 billion from Foreign Direct Investment (FDI) in 2020, to which China and Singapore majorly contributed. As a consequence of the increasing investment from the industrial sector, the deployment of these devices in different end-use and production industries is necessary. This factor is what drives the market CAGR.


The need for circuit breakers is also fueled by a number of other factors. The Circuit Breaker Industry is benefiting from the increase in investments in the energy sector. In the previous year, investments totaled USD 308 billion in the worldwide industry. The market for renewable energy is increasing. As a result, there is a huge need for circuit breakers. Power plants and electrical grids are connected by a combination of technologies known as a circuit breaker. 


Therefore, a key factor driving the market for circuit breakers is rising investments in the renewable energy sector. The power demand has high in the residential, commercial, and industrial sectors. Furthermore, there is a rising concern about the supply of undisrupted power. 


This concern from the end-users is another driver for the market. The need for constant and undisrupted power flow and protection from the short circuit are the key actors that drive market growth. The rising reliability of power is a crucial factor that will increase demand in the upcoming years.


Moreover, their awareness of energy conservation is growing rapidly. It is another factor that stirs the demand for circuit breakers. The circuit breaks cut the electricity by preventing short circuits and power wastage. The need for these power protection devices will grow further due to fluctuations in power supply. The environmental consciousness encourages the end-users to adopt circuit breakers in industries and commercial spaces. Thus, driving the Circuit Breaker market revenue.


Circuit Breaker Market Segment Insights:


Circuit Breaker Voltage Insights


The Circuit Breaker market segmentation, based on Voltage, includes High, Medium. The medium segment dominated the market; medium voltage breakers are used more in industrial, infrastructural, and utility-scale applications. The medium-scale breaker applications have the most extensive applications and are expected to show significant market growth.


Figure 1: Circuit Breaker Market, by Voltage, 2024 & 2032 (USD billion)


Circuit Breaker Market, by Voltage, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Circuit Breaker Type Insights


The Circuit Breaker market segmentation, based on Type, includes outdoor circuit breakers, indoor circuit breakers. The Outdoor circuit segment dominated the market; most breakers installed are outdoor automatically operated electrical switches. The market size of outdoor breakers is almost double that of indoor breakers. It is used in switchgear assembly, which is used outdoors for utility-scale applications. Few industrial machinery and equipment require outdoor breakers. Indoor breakers are used majorly in residential, commercial, and industrial breakers.


Circuit Breaker End-Use Insights


Based on End-Use, the Circuit Breaker market segmentation includes transmission & distribution, power generation, renewables, and railways. The transmission & distribution segment dominated the market, the increasing demand for electricity transmission and distribution infrastructure, driven by the growing population and urbanization, has resulted in a higher need for efficient and reliable power networks. 


Circuit breakers play a crucial role in ensuring the safety and reliability of these networks by protecting them against electrical faults and overloads. Furthermore, the rapid expansion of renewable energy sources, such as solar and wind, has necessitated the development of robust transmission and distribution systems to integrate and transmit power from these sources to the grid. These systems ' circuit breakers are essential components, protecting potential issues like voltage fluctuations and short circuits.


Circuit Breaker Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Circuit Breaker Market area will dominate this market; the growing demand for renewable energy will offer growth opportunities in this Region. The Region is focusing on high-load remission lines will boost the market growth in this Region. Moreover, China’s Circuit Breaker market held the largest market share, and the Indian Circuit Breaker market was the fastest-growing market in the Asia-Pacific region.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: Global Circuit Breaker Market Share By Region 2022 (%)


Circuit Breaker Market Share By Region 2022 (%)


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe's Circuit Breaker market accounts for the second-largest market share due to the rising population in Europe increasing the demand for the power industry. Further, the German Circuit Breaker market held the largest market share, and the UK Circuit Breaker market was the fastest-growing market in the European Region


The North American Circuit Breaker market is expected to grow fastest from 2023 to 2032. This is due to the rising population and increasing demand for the power industry.


Circuit Breaker Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Circuit Breaker market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Circuit Breaker industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Circuit Breaker industry to benefit clients and increase the market sector. In recent years, the Circuit Breaker industry has offered some of the most significant advantages to medicine. 


Major players in the Circuit Breaker market, including ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi (Japan), Toshiba (Japan), Powell (US), TE Connectivity (Switzerland), CG Power (India), Tavrida Electric (Switzerland), Larsen & Toubro (India), Fuji Electric (Japan)., and others, are attempting to increase market demand by investing in research and development operations.


Siemens AG is a German multinational technology conglomerate. Its operations encompass automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, rail transport solutions, health technology, and digital healthcare services. Siemens purchased C&S Electric, a maker of electrical and power electronic equipment, in order to meet the rising need for electrification goods. 


The scope of the transaction includes the Indian operations of the low and medium voltage power bus bars, protection and metering devices, and low voltage switchgear components and panels businesses of C&S Electric.


Eaton Cummins Automated Transmission Technologies is a joint venture between Eaton and Cummins, Inc. producing industry-leading heavy-duty automated transmission products for OEM customers around the globe. With the introduction of the Endurant XD series, Eaton Cummins Automated Transmission Technologies announced the extension of the Endurant Automated Transmission portfolio. The series is a high-performance automated transmission designed for on-highway applications like double and triple trailer trucks and severe-duty on/off-highway applications like dump and logging trucks.


Key Companies in the Circuit Breaker Market Include



  • Schneider Electric

  • Toshiba

  • Siemens

  • ABB

  • Meidensha

  • Mitsubishi Electric

  • TE Connectivity

  • CG Power

  • XIGAO Group

  • Industrial Solutions,

  • LS ELECTRIC

  • Larsen & Toubro

  • Huayi Electric


Circuit Breaker Industry Developments


May 2024 – ABB Miniature Circuit Breaker (MCB)*, a groundbreaking innovation that has been in operation for over a century, safeguarding electric circuits and is being developed to meet future requirements for sustainability. MCBs have transformed everyday living by providing security to residential and commercial facilities that minimize accidents resulting from unforeseen circumstances.


March 2024 – The first high-power solid-state circuit protection device based on electronic switching has been created by Siemens. In the event of a fault, the Sentron ECPD (Electronic Circuit Protection Device) turns off the circuit electronically and trips the mechanical isolating contact downstream if required. Disconnectors have generally been of an electromechanical nature.


Siemens announced in November 2022 that its generator circuit-breakers family would be expanded with a new, small version called HB1-Compact (HB1-C). According to Siemens’ press release, there is an adaptive and highly flexible system that uses maintenance-free vacuum switches to overcome the hardest limits.


Hitachi Energy launched the world’s first eco-efficient 420-kilovolt (kV) circuit breaker during the CIGRE Session 2022 held in August 2022. This milestone technology marks another important step forward in the company’s accelerated EconiQ high-voltage product strategy, which was unveiled at CIGRE Session 2021.


Schneider Electric announced in October 2021 at the NECA Conference Nashville that it had introduced its new PowerPacTTM Molded Case Circuit Breaker (MCCB) family. The new PowerPacT series concentrates on innovative technologies designed to satisfy Schneider Electric’s customers and provide superior circuit breaker solutions going forward.


In July this year, ABB India said it expects USD250 million worth of business from its Formula DIN-Rail line targeting the Indian electrical retail market comprising Miniature Circuit Breakers (MCBs), Residual Current Circuit Breakers (RCCBs), and Isolators.


Circuit Breaker Market Segmentation:


Circuit Breaker Voltage Outlook



  • High

  • Medium


Circuit Breaker Type Outlook



  • Outdoor circuit breaker

  • Indoor circuit breaker


Circuit Breaker End-Use Outlook



  • Transmission & Distribution

  • Power Generation

  • Renewables

  • Railways


Circuit Breaker Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



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