February 17, 2023/Industry News Global/ -- This new report from Stratview Research analyses the Circuit Breaker Market over the trend period from 2017 to 2020 and the forecast period from 2022 to 2028. The insights of the report shall enable informed decision-making and strategy formulation for the near future to capitalize on the opportunities.

Circuit Breaker Market Overview:

The Circuit Breaker Market was estimated at USD 6.04 Billion in 2021 and is likely to grow at a CAGR of 6.38% from 2022-2028 to reach USD 9.37 Billion in 2028.

Segment Analysis

Rated Voltage Type:

• The market is segmented as <500V, 500V to 1kV, 1 to 15kV, 15 to 50kV, 50 to 70kV, 70 to 145kV, 145 to 300kV, 300 to 550kV, 500 to 800kV, and >800kV.
• The <500V segment dominated the market in 2021 and is expected to maintain its position during the forecast period as well.
• Rural electrification initiatives in developing economies are the major factor driving the growth of the <500V segment.

End-Use Industry Type:

• The market is segmented as residential, industrial, commercial, and utility.
• The utility segment is projected to witness the fastest growth during 2022-2028 driven by stringent energy efficiency protocols, inclination towards deployment of smart grid and control networks, and expansion of primary & secondary distribution networks.

Regional Analysis Of the Market

• Asia-Pacific is estimated to be the largest market driven by growing investment and infrastructure development in China, Japan, India, South Korea, ASEAN Countries, and Others.
• Expanding industrial sector, rapid urbanization, significant economic development in the region, and increased focus on power distribution in remote areas are the major factors driving the growth of the Asia-Pacific region.
• North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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