Circuit Protection Market To Power And Cross USD 90.64 Billion By 2030

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The global Circuit Protection market size is expected to be worth around US$ 90.64 billion by 2030, according to a new report by Vision Research Reports.

The global Circuit Protection market size was valued at US$ 50.75 billion in 2020 and is anticipated to grow at a CAGR of 15.7% during forecast period 2021 to 2030.

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Circuit Protection Market (By Product: Circuit Breaker, Fuse, GFCI, HD Pro, Inrush Current Limiter, Mobile Power Protection; By Application: Agriculture, Automotive, Commercial & Residential Building, Household Appliances, HVAC, Power Generation, Recreational Vehicle (RV), Telecom; By Channel: OEM, Retail, Wholesale) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Highlights Details
Market Size USD 90.64 billion by 2030
Growth Rate CAGR of 15.7% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Application, Channel
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned ABB Ltd.; Bel Fuse Inc; Schneider Electric SE; Mitsubishi Electric Corporation; Eaton Corporation plc; General Electric Company; Siemens AG; Rockwell Automation, Inc.; Larsen & Toubro Limited; NXP Semiconductors N.V.; SCHURTER Holding AG; Sensata Technologies Holding plc; Texas Instruments Incorporated

Growth Factors

The market is expected to benefit from the growing need to upgrade power transmission and distribution networks and establish renewable energy connectivity. The rising demand for advanced circuit protection equipment in the automotive, electronics, and telecommunications sectors can be attributed to growing safety concerns related to short circuits and damage resulting from power fluctuations.

Increasing access to electricity in developing countries, rising construction and infrastructure development activities, and the growing number of renewable power generation projects are also driving the market growth. Moreover, in the automotive sector, continued urbanization and the strong emphasis passengers are putting on safety and security in the wake of the growing number of vehicles on the road are driving the adoption of circuit protection devices. 

Report Highlights

The circuit breaker segment dominated in 2020 and accounted for a revenue share of over 20%. A circuit breaker is a switching device intended to protect an electrical circuit from damage by interrupting an abnormal or fault current. The growing demand for better electrical connectivity, energy efficiency, and smart grids is necessitating the development of circuit breakers with higher accuracy, quality, and reliability.

The Ground Fault Circuit Interrupter (GFCI) segment is expected to witness significant growth over the forecast period. A GFCI is a protection device specifically designed to protect personnel against electric shocks by breaking the electrical circuit.

The power generation segment dominated in 2020and accounted for a revenue share of over 20%. Rising technological development, shifts in government policies to stimulate new technology development, and rising consumer preference for green energy are expected to accelerate the energy demand worldwide.

The Heating, Ventilation, and Air Conditioning (HVAC) segment is expected to register the fastest CAGR over the forecast period. The HVAC industry is primarily driven by regional regulations for energy-efficient products, unpredictable climatic conditions, and the advent of improved designs.

The Original Equipment Manufacturer (OEM) segment dominated in 2020and accounted for a revenue share of over 50%. OEMs need to ensure that their electrical products operate safely and reliably, according to design specifications and industry and government standards.

North America dominated in 2020and accounted for a revenue share of over 35%. The need for circuit protection is anticipated to increase owing to the rising concern about the safety of electronic and telecommunication equipment in the region.

Key Players

  • ABB Ltd.
  • Bel Fuse Inc
  • Schneider Electric SE
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • General Electric Company
  • Siemens AG
  • Rockwell Automation, Inc.
  • Larsen & Toubro Limited
  • NXP Semiconductors N.V.
  • SCHURTER Holding AG
  • Sensata Technologies Holding plc
  • Texas Instruments Incorporated

Market Segmentation

  • Product
    • Circuit Breaker
      • Low Current
      • High Current
    • Fuse
      • Fast Acting
      • Slow Blow
    • GFCI
      • Adapters
      • In-line Cord Sets
      • Quad Boxes
      • Panel Mount
      • Right Angle Cord Sets
      • User Attachable
      • Others
    • HD Pro
      • High Power Inline/Bulkhead GFCI
      • High Power Inline/Bulkhead ELCI
      • High Power Inline/Bulkhead EGFPD
    • Inrush Current Limiter
    • Mobile Power Protection
      • Automatic Transfer Switch
      • Battery Control Center
      • Inverter
      • Load Center
      • Others
    • Overvoltage Protection
      • Crowbar Devices
      • ESD Protector
      • Gas Discharge Tubes (GDT)
      • Metal Oxide Varistors (MOV)
      • Surge Protection Device (SPD)
      • Others
    • PTC Devices
      • Ceramic
      • Polymeric
  • Application
    • Agriculture
    • Automotive
    • Commercial & Residential Building
    • Household Appliances
    • HVAC
    • Power Generation
    • Recreational Vehicle (RV)
    • Telecom
    • Others
  • Channel
    • OEM
    • Retail
    • Wholesale
  • Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 – 2028)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • Japan
      • India
    • South America
    • MEA

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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