The global circuit protection market size is forecasted to reach from US$ 44.5 billion in 2021 to US$ 80.82 billion by 2030, growing at a CAGR of 5.9% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The circuit protection market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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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. Further,the increased awareness regarding the safety of personnels and electric devices has impeded the market growth in North America.
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. Moreover, increased presence of the world top consumer electronics manufacturers in this region significantly drives the adoption of numerous electronic devices that further fosters the demand for the circuit protection products across the region.
The rising number of connected devices across the globe is impeding the market growth. Further, the proposed plans of various nations to develop Smart Cities is expected to increase the power generation and increased adoption of IoT and digital devices, which will significantly contribute towards the growth of the market.
The lack of investments to develop proper infrastructure and lack of electricity in the rural areas of the underdeveloped nations is the major factors that may hamper the growth of the circuit protection market during the forecast period.
The increased adoption of the consumer electronic such as mobile phones, laptops, PCs, LED lights, air conditioners, fans, and washing machines has significant contributions towards the consumption of the circuit protection products.The rising demand for the consumer electronics owing to the factors such as increasing disposable income, demand for home improvement, and rising standards of living is expected to drive the adoption of various electronics, which in turn is expected to augment the demand for the circuit protection products across the globe.
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. Moreover, the government regulations regarding the safety from power has boosted the adoption of GFCIs in the residential and commercial buildings across the globe. The rising urbanization in the developing markets is estimated to be the significant driver 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.
|USD 80.82 Billion by 2030
|CAGR of 5.9% From 2021 to 2030
|Largest Market Size
|Fastest Growing Market
|2021 to 2030
|Product, Application, Distribution Channel, Region
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global circuit protection market are listed as below:
- ABB Ltd.
- BEL Fuse Inc.
- Eaton Corp. PLC
- General Electric Company
- Larsen & Toubro Ltd.
- Mitsubishi Electric Corp.
- NXP Semiconductors N.V.
- ON Semiconductor Corp.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Texas Instruments Inc.
- Hitachi Ltd.
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 (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global circuit protection market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for circuit protection are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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