The global circuit breaker and fuses market is estimated to grow at a significant CAGR during the forecast period. The increased need for renewable energy sources and the growing construction industry are two main factors driving the market forward. The development of solar panels is being fueled by increased environmental concerns such as rising carbon emissions, air pollution, and global warming.
The price of solar panels has also decreased, which has aided the growth of the solar business. Over the years, the price of rooftop solar panels has decreased significantly. Solar panels are becoming increasingly popular in a variety of business and residential applications around the globe.
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The global circuit breaker and fuses market is segmented based on product type, arc quenching media type, and application. Based on product type, the market is classified into a circuit breaker and fuse. Based on the arc quenching media type, the market is segmented into vacuum circuit breakers, oil circuit breakers, air circuit breakers, and others. Based on application, the market is classified into consumer electronics, industrial, transport, construction, energy, and others.
Geographically, the market is classified into four major regions, including North America, Europe, Asia-Pacific, and Rest of the World (RoW). In 2019, Asia-Pacific held the largest share in the market owing to the rapid industrialization, rising demand for renewable energy sources, and increasing demand for electric vehicles in the region.
The major players in the market include Eaton Corp. plc, Schneider Electric SE, Hitachi, Ltd., Mitsubishi Electric Corp., and Atom Power, Inc. To maintain a strong position in the market, these market players adopt various strategies such as product launches, partnerships, collaborations, and mergers and acquisitions. For instance, in February 2019, in Hyderabad, Schneider Electric SE declared the launch of Masterpact MTZ; it is a high-power low voltage circuit breaker that combines the performance and reliability with new digital capabilities of the system. It combines and manages with smart panel architecture and is controlled by the supervision system to carry out preventive maintenance and energy management. This launch will facilitate smart water management conveniently.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered
· Competitive Landscape: Eaton Corp. plc, Schneider Electric SE, Hitachi, Ltd., Mitsubishi Electric Corp., and Atom Power, Inc., among others.
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Global Circuit Breaker and Fuses Market by Voltage
· Circuit Breaker
· High Voltage
· Medium Voltage
· Fuse
· High Voltage
· Low Voltage
Global Circuit Breaker and Fuses Market by Arc Quenching Media Type
· Vacuum Circuit Breakers
· Oil Circuit Breakers
· Air Circuit Breakers
· Others
Global Circuit Breaker and Fuses Market by Application
· Consumer Electronics
· Industrial
· Transport
· Construction
· Energy
· Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
