Wilmington, Delaware , Feb. 04, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Circuit Breakers Market by Type (Interior Circuit Breaker and Strap Circuit Breaker), Product Type (D-Type Circuit Breaker, E-Type Circuit Breaker, G-Type Circuit Breaker, M-Type Circuit Breaker, B-Type Circuit Breaker, Front-Accessible E-type Circuit Breaker, Front-Accessible G-type Circuit Breaker, and Others), Voltage (Low, Medium, and High), Insulation Type (Vacuum, Air, Gas, and Oil), Installation (Indoor and Outdoor), and End User (Residential, Commercial, Industrial, and Utilities): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the “circuit breakers market” was valued at $11.9 billion in 2023, and is estimated to reach $23 billion by 2033, growing at a CAGR of 6.9% from 2024 to 2033.
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Prime determinants of growth
The circuit breakers market growth is primarily driven by the increase in demand for reliable and secure power supply, fueled by rapid urbanization, industrialization, and investments in renewable energy projects. Expansion in number of electricity grids and the need for enhanced safety in electrical infrastructure further contribute to market growth. However, the market faces restraints such as the high initial costs associated with advanced circuit breakers and challenges in upgrading outdated infrastructure. Despite these challenges, significant opportunities exist in the development of smart circuit breakers, leveraging IoT and automation technologies, and the growing electrification in emerging economies, coupled with stringent safety regulations, provide strong growth prospects.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $11.9 billion |
| Market Size in 2033 | $23.0 billion |
| CAGR | 6.90% |
| No. of Pages in Report | 466 |
| Segments Covered | Type, Product Type, Voltage, Insulation Type, Installation, End User, and Region |
| Drivers | Increase in demand for reliable power supply. |
| Rapid urbanization and industrialization. | |
| Opportunity | Development of smart circuit breakers with IoT and automation. |
| Restraint | High initial costs of advanced circuit breakers. |
The interior circuit breaker segment dominated the market in 2023.
On the basis of type, the interior circuit breaker segment dominated the circuit breakers market in 2023. Surge in demand for interior circuit breakers is driven by increase in need for enhanced safety and reliability in residential, commercial, and industrial electrical systems. With rapid urbanization and the construction of smart buildings, the adoption of advanced interior circuit breakers is rising to ensure protection against electrical faults and overloads. In addition, the trend toward energy-efficient solutions and compliance with stringent safety regulations further boosts their demand. Innovations in compact designs and integration with smart home systems also contribute to their growing popularity.
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The B-Type Circuit Breaker segment dominated the market in 2023.
On the basis of product type, the B-Type Circuit Breaker segment was the highest revenue contributor in the market in 2023. The demand for B-Type circuit breakers is growing due to their suitability for residential and light commercial applications, where they provide effective protection against low-level short circuits and overloads. These breakers are particularly favored in environments with predominantly resistive loads, such as lighting and heating systems, ensuring safety and reliability. The increasing adoption of energy-efficient electrical systems and the rising construction of residential and commercial buildings further drive their demand. In addition, compliance with safety standards and the need for precise fault detection enhance their market growth.
The high segment held the highest market share in 2023.
On the basis of voltage, the high segment dominated the market in 2023. The demand for high-voltage circuit breakers is rising due to the expansion of power transmission networks and the integration of renewable energy sources into the grid. These breakers are essential for ensuring safety and reliability in high-voltage applications, protecting equipment and infrastructure from faults and overloads. Growing investments in infrastructure projects, particularly in developing regions, and the need to upgrade aging electrical systems further drive their adoption. In addition, advancements in smart grid technology and increasing electrification in industrial sectors contribute to the growing demand for high-voltage circuit breakers.
The gas segment held the highest market share in 2023.
On the basis of insulation type, the gas segment dominated the market in 2023. The demand for gas-insulated circuit breakers is increasing due to their superior performance in high-voltage applications and compact design, making them ideal for space-constrained installations. These breakers offer high reliability, low maintenance, and excellent insulation properties, essential for modern power grids. In addition, the need for environmentally friendly alternatives has spurred innovation in eco-efficient gas-insulated technologies, further boosting their market growth.
The outdoor segment held the highest market share in 2023.
On the basis of installation, the outdoor segment dominated the market in 2023. The demand for outdoor-installed circuit breakers is growing due to their critical role in protecting electrical infrastructure in power generation, transmission, and distribution networks. Designed to withstand harsh environmental conditions, these breakers are essential for maintaining grid stability and preventing outages. Increasing investments in renewable energy projects and the expansion of power grids, especially in rural and remote areas, drive their adoption. In addition, the modernization of aging infrastructure and advancements in weather-resistant materials and technologies further contribute to the rising demand for outdoor-installed circuit breakers.
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The utilities segment held the highest market share in 2023.
On the basis of end-user, the utilities segment dominated the market in 2023. The demand for circuit breakers in utilities is increasing as power companies strive to enhance grid reliability, safety, and efficiency. With the expansion of transmission and distribution networks and the integration of renewable energy sources, utilities require advanced circuit breakers to manage growing power loads and protect critical infrastructure. In addition, the push for grid modernization, smart grids, and compliance with stringent safety regulations further drives adoption. Innovations in high-voltage and digital circuit breakers tailored for utility applications are also boosting market growth.
Asia-Pacific held the highest market share in 2023.
Asia-Pacific led the market in 2023. The demand for circuit breakers in the Asia-Pacific region is experiencing significant growth, driven by rapid urbanization, industrialization, and expanding power infrastructure. As countries in the region invest heavily in renewable energy, smart grid technologies, and the modernization of electrical networks, the need for reliable and efficient circuit breakers is increasing. The growing construction of residential, commercial, and industrial buildings, along with heightened awareness of electrical safety standards, further fuels the demand. In addition, expanding economies and government initiatives to improve energy distribution and electrification in rural areas contribute to the rising demand for circuit breakers in Asia-Pacific.
Players: –
- ABB
- Eaton
- Siemens
- Kirloskar Electric Company
- LS ELECTRIC Co., Ltd
- Powell Industries
- Alstom SA
- Mitsubishi Electric Corporation
- Schneider Electric
- Toshiba Corporation
The report provides a detailed analysis of these key players in the global circuit breakers market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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