Europe Circuit Breaker and Fuses Market, By Voltage (300V-500V, 500V- 1000V, 1000V- 1500V, 1500V-2000V, 2000V-2500V, 2500V-3000V, 3000V-3600V), Breaker Product Type (Low Voltage, High Voltage), Fuse Product Type (Specialty Fuse, Traction Fuse, Thermal Fuse, High Power Fuse, Telecom Fuse, Others), Arc Quenching Media Type (Vacuum Circuit Breakers, Oil Circuit Breakers, Air Circuit Breakers), Application (Transmission and Distribution, Construction, Industrial, Power Generation, Consumer electronics), End Use (HVAC, Energy Storage, EV Charging), Country (Germany, France, U.K., Switzerland, Italy, Russia, Spain, Netherlands, Belgium, Turkey, Rest of Europe) Industry Trends and Forecast to 2029.
Market Analysis and Insights Europe Circuit Breaker and Fuses Market
Data Bridge Market Research analyses Europe circuit breaker and fuses market will exhibit a CAGR of 6.1% for the forecast period of 2022-2029 and is likely to reach the USD 12,866.99 million by 2029.
A circuit breaker is an electrical switch that operates automatically to safeguard an electrical circuit from damage caused by excessive current from an overload or short circuit. Its main purpose is to stop current flow when a defect is identified. Consequently, an electrical fuse is a type of electrical safety device that protects an electrical circuit against overcurrent. Circuit breakers and fuses, in layman's terms, halt the flow of power, preventing electricity overload. Production, transmission, weather, connected equipment, the status of other transmission lines, and customer demand all influence the amount of electricity on an electric line. The electricity is shifted around the barrier into other lines during a transmission interruption.
The upsurge in the demand for reliable and secure power supply globally will act as a key element driving market expansion. The circuit breaker and fuses market is also being driven by factors such as rising capacity additions and enhancements for T&D networks. In addition to this, rise in the level of investments in railway sector and technological advancement associated with electrical gadgets are the factors that will further result in the expansion of circuit breaker and fuses market. Furthermore, growing demand for equipment from various end-use industries such as power generation will act as a major factor influencing the growth of circuit breaker and fuses market. Another significant factor that will cushion the circuit breaker and fuses market’s growth rate is the rising investments in power generation, mainly from renewable energy. Swift economic growth, increasing population and inadequate electric power infrastructure are the major drivers that will propel the growth rate of circuit breaker and fuses market.
Moreover, growing level of investments in smart grid technologies in order to protect and control power equipment will create beneficial opportunities for the growth of the market. Additionally, the development in technologies and untapped potential in circuit breaker and fuses market will act as market driver and further boost new opportunities in the forecast period mentioned above. Replacement of aging grid infrastructure and rising demand for reliable T&D networks will enhance the growth rate of market in future.
However, the high cost of circuit breaker and fuses equipment will hamper the market’s growth rate. Also, strict environmental and safety regulations for SF6 circuit breakers and intense competition from market’s unorganized sector will further pose challenges to the market. Other factors such as negative impact of COVID-19 on circuit breakers, risk of cybersecurity attack and installation of modernized circuit breakers will obstruct the market’s growth.
This Europe circuit breaker and fuses market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Europe circuit breaker and fuses market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Europe Circuit Breaker and Fuses Market Scope and Market Size
The circuit breaker and fuses market is segmented on the basis of voltage, breaker product type, fuses product type, arc quenching media type, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of voltage, the circuit breaker and fuses market has been segmented into 300 -500V, 500 - 1000V, 1000V – 1500V, 1500V- 2000V, 2000V – 2500V, 2500V – 3000V and 3000V -3600V.
- Circuit breaker and fuses market on the basis of breaker product type has been segmented as low voltage and high voltage. Low voltage is further segmented into miniature circuit breakers, molded case circuit breakers, air circuit breakers, modular circuit breaker and others. High voltage is further segmented into oil circuit breakers, air blast circuit breakers, sf6 circuit breakers, vacuum circuit breakers, residual current circuit breaker (RCCB).
- Based on fuses product type, the circuit breaker and fuses market has been segmented into specialty fuse, traction fuse, thermal fuse, high power fuse, telecom fuse and others.
- On the basis of arc quenching media type, the circuit breaker and fuses market has been segmented into vacuum circuit breakers, oil circuit breakers, and air circuit breakers.
- Circuit breaker and fuses has also been segmented on the basis of application into transmission and distribution, construction, industrial, power generation and consumer electronics.
- Circuit breaker and fuses market has also been segmented on the basis of end user into HVAC, energy storage and EV charging.
Europe Circuit Breaker and Fuses Market Country Level Analysis
The circuit breaker and fuses market is segmented on the basis of voltage, breaker product type, fuses product type, arc quenching media type, application and end user.
The countries covered in the Europe circuit breaker and fuses market report are Germany, France, U.K., Switzerland, Italy, Russia, Spain, Netherlands, Belgium, Turkey, and Rest of Europe.
The country section of the Europe circuit breaker and fuses market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe Circuit Breaker and Fuses Market Share Analysis
The Europe circuit breaker and fuses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Europe circuit breaker and fuses market.
Some of the major players operating in the Europe circuit breaker and fuses market are Fuji Electric Co., Ltd., Tavrida Electric, Mitsubishi Electric Corporation, Toshiba Corporation., G&W Electric, ABB, Siemens, Eaton, Schneider Electric, Powell Electronics Inc., TE Connectivity, CG Global, LARSEN & TOUBRO LTD., Efacec, LEGRAND, Honeywell International Inc., CAMSCO ELECTRIC COMPANY LTD., and Maxwell Technologies, among others.