Circuit Breaker Market Analysis

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.

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

Circuit Breaker Market Trends

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  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)

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 (%)

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