According to latest research report by IMARC Group, titled “Circuit Protection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global circuit protection market size is exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during 2021-2026.
Circuit protection refers to the addition of suitable automatic circuit-interrupting devices in an electrical circuit. These circuit protection devices or CPDs, such as a fuse or circuit breaker, interrupt the current flow after a fault is detected. They are installed to prevent overheating of wire conductors and protect electrical equipment from damage. CPDs are available in a wide variety of shapes, types and specific current ratings. They are usually designed in compliance with the safety and performance standards for electrical transmission, distribution network and electrical equipment as mandated by governments of various nations.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Rising safety concerns in various electronic products are primarily driving the market for circuit protection across the globe. In line with this, the adoption of more advanced circuit protection solutions has increased across various industrial verticals. Furthermore, advancements in automobile designs, which are more complex and intricate, along with the emerging trend of product miniaturization, are acting as another major growth-inducing factor. Leading industry players and manufacturers are consequently developing innovative and compact CPDs, which are increasingly incorporated in transmission and distribution (T&D) networks. The advent of slim, smart and portable appliances with better power densities, improved sensitivity and faster processors is also creating a positive outlook for the market. Rapid industrialization and urbanization, especially in emerging economies, and advancements in the field of the internet of things (IoT) technology are some of the other factors that are expected to drive the market growth During 2021-2026.
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Key Market Segmentation:
Some of the major key players operating in the Circuit Protection market include:
- ABB Ltd (NYSE: ABB)
- BEL Fuse Inc.
- Eaton Corp. PLC
- General Electric Company (NYSE: GE)
- Larsen & Toubro Ltd., Mitsubishi Electric Corp.
- NXP Semiconductors N.V.
- ON Semiconductor Corp.
- Rockwell Automation (NYSE: ROK)
- Schneider Electric SE
- Siemens AG
- Texas Instruments Inc.
- Hitachi Ltd., etc.
Breakup by Type:
- Overcurrent Protection
- Electrostatic Discharge (ESD) Protection
- Overvoltage Protection
Breakup by Device:
- Circuit Breakers
- ESD Protection Devices
- Surge Protection Devices
Breakup by End-Use:
- Residential Building Construction
- Non-Residential Building Construction
- Electrical and Electronics
Breakup by Region:
- North America
- Asia- Pacific
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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