Circuit Protection Market size is expected to reach over USD 77.7 billion by 2030 from at USD 44.5 billion in 2021, growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period 2021 to 2030.
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The increased adoption of electronic devices, rapid urbanization, and rising demand for the protection of appliances resulting from power failures are the major factors that drives the growth of the global circuit protection market. The rising awareness regarding the safety of appliances and human individuals from the power failures and electric shocks respectively is expected to fuel the demand for the circuit protection products. Moreover, the increased demand for the various consumer electronics among the global population such as air conditioners, heating equipment, laptops, and various other wide ranges of products have rapidly boosted the consumption of the circuit protection products across the globe.
Moreover, the growing demand from the various end use industries such as automotive, construction, and agriculture is fostering the demand. The automotive play a crucial role in the growth of the market as it is a huge industry and consumes a significant amount of the circuit protection products. Further, the rising popularity of the electric vehicles across the globe is projected to drive the growth of the global circuit protection market during the forecast period.The rising number of connected devices across the globe, rapid growth of the telecommunications sector, rising investments towards building a strong IT infrastructure, and growing number of residential and commercial buildings across the globe is significantly boosting the growth of the global circuit protection market.
- North America dominated the global circuit protection market, garnering a significant market share of around 36% in 2020. The exponential growth of the automotive, IT, and telecommunications industries in the region has contributed towards the market growth. Moreover, increasing investments in the infrastructural development is further expected to drive the market growth.
- Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is characterized by huge government investment in the urbanization, industrialization, and electrification of the rural areas.
- Based on the product, the GFCI segment is estimated to be the most opportunistic segment during the forecast period. The rising awareness regarding the safety from electric shocks among the people is boosting the growth of this segment.
- Based on the application, the power generation segment dominated the global circuit protection market, accounting for around 21% of the market share in 2020. The rising demand for the efficient, uninterrupted, and flexible power is projected to contribute towards the market growth. Moreover, growing focus on the Green Energy is presenting growth opportunities to the market players.
- Based on the distribution channel, the OEM segment accounted for around 51% of the market share in 2020. The wholesale segment is projected to be the fastest-growing segment during the forecast period.
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OBJECTIVES OF THE STUDY
- To analyze and forecast the Circuit Protection market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global Circuit Protection market on the product type, end-use and other segments
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Circuit Protection market
- Market estimate for 2021
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Major Players Covered in this Report
The updated market research report on Circuit Protection market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Segments Covered in the Report
- Circuit Breaker
- HD Pro
- Mobile Power Protection
- Inrush Current Limiter
- PTC Devices
- Overvoltage Protection
- Commercial & Residential Buildings
- Power Generation
- Household Appliances
- Recreational Vehicle
By Distribution Channel
- North America
- Asia Pacific
- South Korea
- Rest of the World
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