$ 71.64 Billion Circuit Protection Market Size by 2028: Grand View Research, Inc.

SAN FRANCISCO, September 21, 2021 / PRNewswire / – Global Circuit Protection Market Size Expected to reach $ 71.64 billion by 2028, with a CAGR of 6.7% from 2021 to 2028, according to a new report from Grand View Research, Inc. The market is expected to benefit from the growing need to modernize electricity transmission and distribution networks and establish connectivity to renewable energies. The increasing demand for advanced circuit protection equipment in the automotive, electronics and telecommunications industries can be attributed to the growing safety concerns related to short circuits and damage resulting from power fluctuations.

Main lessons and findings:

• The power generation segment is expected to grow at a CAGR of 5.6% during the forecast period. The increased implementation of IT technologies in several operations of the power generation industry requires proper management of the power supply of IT products for better performance. This is expected to drive the demand for circuit protectors in the power generation segment.
• In terms of application, the commercial and residential building segment is poised to grow at a CAGR of 6.4% during the forecast period. The need and importance of circuit protection devices is continually increasing in commercial and residential buildings due to the increasing number of accidents and losses caused by electrical faults and short circuits.
• In terms of channel, the retail segment is expected to represent a significant market size in terms of revenue by 2028, registering a CAGR of 6.2% during the forecast period. Many suppliers offer training sessions and certifications related to installation and maintenance to distributors, retailers and installers based in the country. Certified distributors and installers are now part of a network of approved distributors / installers after the training
• The market in the Asia Pacific is expected to register the highest CAGR of 7.8% during the forecast period. The growth in construction activity and the increasing adoption of renewable energy production sources, such as wind and solar power, have resulted in increased demand for circuit protection devices in the region.

Read the 300-page market research report, “Circuit Protection Market Size, Share and Trend Analysis Report by Product (HD Pro, Circuit Breaker, Fuse, GFCI, Inrush Current Limiter), by Application, by Channel, by Region and Segment forecast, 2021-2028“, by Grand View Research

Increasing access to electricity in developing countries, increasing construction and infrastructure development activities and increasing number of renewable energy production projects are also driving market growth. In addition, in the automotive sector, continued urbanization and the emphasis placed by passengers on safety and security in the wake of the increasing number of vehicles on the road is leading to the adoption of circuit protection devices. .

The uninterrupted growth of the world’s population, continued economic growth and rapid urbanization have triggered an increase in demand for electricity globally. Continued industrialization and urbanization are contributing to increasing demand for energy in developing countries. The United Nations (UN) expects the world’s population to grow from 7.6 billion in 2017 to 9.7 billion by 2050. Demand for electricity is also expected to increase as electricity increases. household income, the continued electrification of the transport sector, the growing demand for air conditioning in the wake of rising temperatures and the proliferation of digitally connected devices. Moreover, the increasing need for additional production capacity may open new opportunities for market growth during the forecast period.

Grand View Research has segmented the global circuit protection market on the basis of product, application, channel, and region:

• Circuit Protection Product Outlook (Volume, Million Units; Revenue, Million USD, 2018 – 2028)
• Circuit breaker
• Fuse
• GFCI
• Adapters
• Cord sets online
• Quadruple boxes
• Panel mount
• Right Angle Cord Sets
• User attachable
• Others
• HD Pro
• High Power In-Line / Bulkhead GFCI
• ELCI in-line / high power bulkhead
• High Power Inline / Bulkhead EGFPD
• Inrush current limiter
• Mobile power protection
• Automatic transfer switch
• Battery control center
• Inverter
• Load center
• Others
• Overvoltage protection
• Presser foot devices
• ESD protector
• Gas discharge tubes (GDT)
• Metal Oxide Varistors (MOV)
• Surge Protection Device (SPD)
• Others
• PTC Peripherals
• Circuit Protection Application Outlook (Volume, Million Units; Revenue, Million USD, 2018 – 2028)
• Agriculture
• Automotive
• Commercial and residential building
• Household appliances
• HVAC
• Energy production
• Recreational vehicle (RV)
• Telecom
• Others
• Circuit Protection Channel Outlook (Volume, Million Units; Revenue, Million USD, 2018-2028)
• Regional Circuit Protection Outlook (Volume, Million Units; Revenue, Million USD, 2018-2028)
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

List of players in the circuit protection market

• ABB SA
• Bel Fusible Inc
• Schneider Electric SE
• Mitsubishi electric corporation
• Eaton Corporation plc
• General Electricity Company
• Siemens AG
• Rockwell Automation, Inc.
• Larsen & Toubro Limited
• NXP Semiconductors SA
• SCHURTER Holding SA
• Sensata Technologies Holding plc
• Texas Instruments Incorporated

Discover other studies related to electrical circuits, conducted by Grand View Research:

• Circuit Breakers and Fuses Market – The global circuit breakers and fuses market size has been estimated to be $ 13.58 billion in 2016. The market is expected to prosper due to the growing need to upgrade to efficient grids as well as connectivity to renewable energy.
• Power strip market – The global power strip market size was estimated to be over $ 10.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028. The market is expected to benefit from the increasing demand for stable power supply.

Browse Grand View Research’s coverage on Global electronics industry

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About Grand View Search

Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

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