Circuit breakers market will surpass $21bn by 2024

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Circuit breakers market will surpass $21 billion by 2024, according to Global Market Insights.

Affirmative regulatory mandates toward the development of cross border electric infrastructure to sustain the rising demand for the refurbishment of ageing transmission network will foster the circuit breaker market, the report by Global says.

It continues, favourable policy interventions coupled with positive sectoral amendments supported by rapid economic escalation have further instigated the overall energy industry. Aggregate technical & commercial (AT&C) coagulated by accruing circuit losses, result in deficiency in terms of revenue & energy realisation which in turn will complement the integration of effective transmission and distribution components.

> 550 kV units in the current industrial scenario, have gained an upsurge subject to the ongoing expansion of ultra-high-tension (UHT) electric networks to endure losses accumulated from long-distance power supply, the report goes on to say. Advance product specifications, curtailment ability for over-currents, cost along with ease of installation are said to be essential factors driving the product penetration. While regulatory inclination towards the deployment of HVDC transmission infrastructure to meet cross-border demand for electricity will further complement the circuit breaker market outlook.

Global anticipates the Europe market to gain escalation subject to the stringent energy efficiency regulations, along with rising share of sustainable electricity networks. Regulators with an aim to institute a potent energy mechanism have been channelising funds to befit their networks for effective electricity generation and supply, the report points out. European Union’s policy objectives comprehend, investment and restructuring of the existing grid infrastructure to integrate renewable resources and sustain the leap in energy demand.

According to the report, > 4,500 Ampere circuit breaker market will exceed an annual installation of 1 million units by 2024. Large scale industrial expansion along with product viability across utility deployed transmission and distribution lines will positively sway the industry dynamics. These units behold significant installations across inter-state and cross border transmission networks exhibiting comparatively higher ampacity with an aim to ensure network and operational security across the regional grid infrastructure.

Global identifies eminent players across the worldwide market to comprise Schneider Electric, Eaton, ABB, Mitsubishi, Toshiba, Mersen, Hitachi, Crompton Greaves, Siemens, Powell Industries, Fuji Electric, Meidensha, Hubbell, TE Connectivity, L&T, and BEL Fuse.