Circuit Protection Market Share, Size, Trends, Industry Analysis Report, By Product (Circuit Breaker, Fuse, HD Pro, Inrush Current Limiter, Mobile Power Protection, Overvoltage Protection, PTC Devices, GFCI); By Channel; By Application; By Region; Segment

Circuit Protection Market Share, Size, Trends, Industry Analysis Report, By Product (Circuit Breaker, Fuse, HD Pro, Inrush Current Limiter, Mobile Power Protection, Overvoltage Protection, PTC Devices, GFCI); By Channel; By Application; By Region; Segment Forecast, 2023 - 2032

The global circuit protection market size is expected to reach USD 80.10 billion by 2032, according to a new study by Polaris Market Research. The report “Circuit Protection Market Share, Size, Trends, Industry Analysis Report, By Product (Circuit Breaker, Fuse, HD Pro, Inrush Current Limiter, Mobile Power Protection, Overvoltage Protection, PTC Devices, GFCI); By Channel; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The need for circuit protection devices is rising as a result of the Internet of Things (IoT) and automation trends, which will assist to safeguard electrical devices and data transmission. Additionally, the need for circuit protection devices is being driven by the rapid uptake of smart grid technology for safeguarding the control systems used in smart grid networks. For instance, Siemens added a new compact version of circuit breaker, the HB1-Compact to its generator circuit breaker portfolio. This CB employs a method that does not require maintenance, vacuum switching, and it handles the most difficult limits.

It is anticipated that the rising sales of electric vehicles and efforts to produce goods of higher caliber and with more electrical safety would aid in the expansion of the global market. For instance, in January 2023, Leviton launched the EV Series charging station with 32-, 42- & 80-Amp levels. This charging can be easily integrated with other Leviton infrastructure such as surge protection devices, smart breaker, lighting, and load center.

Additionally, the need for circuit protection devices is rising as the usage of renewable energy sources like solar and wind power increases. Circuit protection devices are crucial to the safe and dependable functioning of renewable energy systems. For instance, in December 2022, ABB launched the digital circuit breaker VD4 evo with advanced features. This intelligence enhances operation & maintenance efficiency by as much as 60% while reducing the danger of power outages by 30%. It is 15% smaller than conventional MV breakers and contributes to the reduction of up to 150 tonnes of CO2 emissions over a 30-year lifespan.

Circuit Protection Market Report Highlights

Circuit breaker segment held the dominant position in global market in 2022 owing to the surge in residential and commercial activities worldwide.

The HVAC segment is expected to grow exhibit the fastest growth during the forecast period. This can be attributed to the climatic changes.

OEM segment held the largest market share in 2022 due to the rising demand for safe and reliable circuit breaker in a variety of products.

Asia Pacific registered high CAGR over the study period on account of rapid urbanization and increasing demand for advanced circuit breakers.

Global players include ABB, Schneider Electric, Mitsubishi Electric, Eaton Corporation, Kirloskar Electric, General Electric, Siemens, Hitachi and Larsen & Toubro.

Polaris Market Research has segmented the Circuit Protection Market report based on product, channel, application, and region:

Circuit Protection Market, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Circuit Breaker

Low Current

High Current

Fuse

Fast Acting

Slow Blow

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

GFCI

Adapters

In-line Cord Sets

Quad Boxes

Panel Mount

Right Angle Cord Sets

User Attachable

Others

Circuit Protection Market, Channel Outlook (Revenue - USD Billion, 2019 - 2032)

Agriculture

Automotive

Commercial & Residential Building

Household Appliances

HVAC

Power Generation

Recreational Vehicle (RV)

Telecom

Others

Circuit Protection Market, Application Outlook (Revenue - USD Billion, 2019 - 2032)

OEM

Retail

Wholesale

Circuit Protection Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa