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Circuit Breaker, Thermistor, and Fuse Market Size Worth $21 Billion By 2030: IndustryARC

August 22, 2024
10 Min Read

Circuit Breaker, Thermistor & Fuse Market size is predicted to reach $21 billion by 2030, growing at a CAGR of 6.2% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Electrification initiatives and Increasing adoption of electrical safety regulations are the driving factors of the market. Integration with renewable energy sources and Advancements in smart technology to create growth opportunities in the market. Key developments and Emerging trends are the major trends in the market, finds IndustryARC in its recent report, titled “Circuit Breaker, Thermistor, and Fuse Market – By Product Type (Circuit Breaker [Miniature Circuit Breaker (MCB), Molded Case Circuit Breaker (MCCB), Residual Current Circuit Breaker (RCCB) and Others], Thermistor, Fuse), By Insulation Type (Vacuum, Air, Gas, and Oil), By Voltage (Low Voltage, Medium Voltage and High Voltage), By Installation (Indoor and Outdoor), By End-User (Residential, Commercial, Industrial, Utilities and Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”

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Asia-Pacific to Hold Largest Market Share:

According to the Circuit Breaker, Thermistor, and Fuse Market analysis, Asia-Pacific region is estimated to hold the largest market share of 40% in 2023. Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are driving significant investments in infrastructure development, including the expansion and upgrading of electrical grids. The region’s burgeoning population and rising demand for electricity necessitate the deployment of advanced circuit protection devices to ensure reliability and safety. Additionally, the growing emphasis on renewable energy sources, such as solar and wind power, in the Asia-Pacific further boosts the demand for circuit breakers and related components, as these systems require efficient and reliable protection mechanisms. Government initiatives and favorable regulatory policies aimed at enhancing energy efficiency and infrastructure resilience are also contributing to market growth. Moreover, the presence of major manufacturers and suppliers in the region, coupled with relatively lower production costs, enhances the competitiveness of Asia-Pacific in the global market. These factors collectively underscore the region’s dominant position and potential for sustained growth in the Circuit Breaker, Thermistor, and Fuse market.

Circuit Breaker, Thermistor, and Fuse Market 2024-2030: Scope of the Report

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

6.2%

Market Size in 2030

$21 billion

Segments Covered

Product Type, Insulation Type, Voltage, Installation, End-User

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, Thailand, Malaysia and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players
  1. ABB Ltd
  2. Siemens AG
  3. Schneider Electric
  4. Eaton Corp
  5. Fuji Electric
  6. Toshiba
  7. General Electric
  8. CG Power and Industrial Solutions
  9. Mitsubishi Electric
  10. Phoenix Contract

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Circuit Breaker, Thermistor, and Fuse Market – Key Takeaways:

  • Thermistor to Register Highest Growth

By Product Type, Thermistor segment is analyzed to grow with the highest CAGR of 6.2% during the forecast period 2024-2030. Thermistors are poised to experience the highest growth in the Circuit Breaker, Thermistor, and Fuse market due to their critical role in temperature sensing and circuit protection. These components are essential in managing and regulating temperatures within electrical devices, offering precise control and reliability. The surge in demand for smart devices, electric vehicles, and renewable energy systems has significantly boosted the need for efficient thermal management solutions. Thermistors provide an effective means to monitor and protect against overheating, enhancing the safety and longevity of electronic systems. Additionally, advancements in materials and manufacturing technologies have improved the performance and reduced the costs of thermistors, making them more accessible and appealing across various industries. Consequently, the thermistor segment is expected to witness robust growth, driven by its versatility, cost-effectiveness, and critical functionality in modern electronic applications

  •  Industrial is Leading the Market

By End-User, Industrial segment held a major market share in 2023 and is analyzed to continue its dominance over the market growing at CAGR 7% during the forecast period 2024-2030. The industrial sector is poised to register the highest growth in the Circuit Breaker market due to the rising demand for reliable and safe power distribution systems in manufacturing and processing industries. Industrial facilities require robust electrical infrastructure to handle high loads and ensure continuous operations. In the Thermistor market, the industrial sector’s growth is driven by the increasing application of temperature sensors in various industrial processes. Thermistors are critical for monitoring and controlling temperature in machinery, HVAC systems, and industrial automation equipment. As industries adopt more sophisticated control systems and smart technologies, the requirement for reliable and accurate thermistors grows. The Fuse market is also witnessing significant growth in the industrial sector due to the need for cost-effective and reliable overcurrent protection solutions. The growing industrialization and the establishment of new manufacturing units in developing regions increase the demand for fuses.

  • Supply Chain Disruptions and Raw Material Availability Poses a Challenge

The Circuit Breaker, Thermistor, and Fuse market is also heavily impacted by supply chain disruptions and the availability of raw materials. Geopolitical tensions, such as the ongoing conflict in Ukraine, have exacerbated these issues by causing instability in the supply of essential components and raw materials. Sanctions, trade restrictions, and logistical challenges lead to delays in production and increased costs, which ultimately affect market growth. Manufacturers are often forced to seek alternative suppliers or adjust their production schedules, leading to inefficiencies and increased prices for end-users. Ensuring a stable and reliable supply chain is critical to maintaining the market’s resilience and growth.

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Key Opportunity Analysis:

  • Integration with Renewable Energy Sources

The integration of circuit breakers, thermistors, and fuses with renewable energy sources presents a significant growth opportunity. As the world shifts towards sustainable energy solutions, the need for reliable and efficient electrical protection devices becomes paramount. Circuit breakers and fuses play a crucial role in safeguarding solar panels, wind turbines, and other renewable energy systems from electrical faults and overloads. The demand for smart circuit breakers, which can handle the complexities of renewable energy integration and grid stability, is expected to rise significantly. This trend not only supports the growth of the market but also contributes to the broader adoption of clean energy technologies, aligning with global sustainability goals.

  • Advancements in Smart Technology

Advancements in smart technology offer another promising opportunity for the Circuit Breaker, Thermistor, and Fuse market. The development of intelligent circuit protection devices equipped with IoT capabilities allows for real-time monitoring and remote management of electrical systems. These smart devices enhance safety, improve operational efficiency, and reduce downtime by providing predictive maintenance alerts and detailed diagnostics. As industries and households increasingly adopt smart technologies for energy management, the demand for advanced circuit protection solutions is set to grow. This trend not only drives market expansion but also fosters innovation in the development of more efficient and responsive electrical protection systems.

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The Report also Covers the Following Areas:

  • Circuit Breaker, Thermistor, and Fuse Market Size and Forecast
  • Circuit Breaker, Thermistor, and Fuse Market Trends
  • Circuit Breaker, Thermistor, and Fuse Market Analysis by Product Type
  • Circuit Breaker, Thermistor, and Fuse Market Analysis by Insulation Type
  • Circuit Breaker, Thermistor, and Fuse Market Analysis by Voltage
  • Circuit Breaker, Thermistor, and Fuse Market Analysis by Installation
  • Circuit Breaker, Thermistor, and Fuse Market Analysis by End-User

Circuit Breaker, Thermistor, and Fuse Market 2024-2030: Key Highlights

  • CAGR of the market during the forecast period 2024-2030
  • Value Chain analysis of key stake holders
  • Detailed analysis of market drivers and opportunities during the forecast period
  • Circuit Breaker, Thermistor, and Fuse Market size estimation and forecast
  • Analysis and predictions on end users’ behavior and upcoming trends
  • Competitive landscape and Vendor market analysis including offerings, developments, and financials
  • Comprehensive analysis of challenges and constraints in the Circuit Breaker, Thermistor, and Fuse Market

Covid and Ukrainian Crisis Impact:

  • The COVID-19 pandemic significantly disrupted the Circuit Breaker, Thermistor, and Fuse market. Lockdowns and restrictions led to delays in manufacturing and supply chain interruptions, causing shortages of raw materials and components. Demand fluctuated as industrial activities slowed, but the market saw a rebound as essential services and healthcare infrastructure projects prioritized electrical safety and reliability upgrades. Additionally, the accelerated adoption of remote working and digital technologies spurred investments in data centers and telecommunications, driving demand for circuit protection devices.
  • The ongoing conflict in Ukraine has affected the global Circuit Breaker, Thermistor, and Fuse market through disruptions in the supply of raw materials and critical components. Sanctions and geopolitical tensions have led to instability in the supply chain, impacting production schedules and leading to increased costs. However, the crisis has also highlighted the need for robust and resilient electrical infrastructure, prompting governments and organizations to invest in upgrading and securing their electrical systems, thereby sustaining demand for circuit protection devices.

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List of Key Market Players in Circuit Breaker, Thermistor, and Fuse Market:

The Circuit Breaker, Thermistor, and Fuse Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

  • ABB Ltd
  • Siemens AG
  • Schneider Electric
  • Eaton Corp
  • Fuji Electric
  • Toshiba
  • General Electric
  • CG Power and Industrial Solutions
  • Mitsubishi Electric
  • Phoenix Contract

Related Reports:

Automotive Fuse Market: As vehicles become more equipped with ADAS technologies, the need for reliable and high-performance fuses to protect these electronic components is increasing.

Generator Circuit Breaker Market: The automotive transport equipment such as car haulers, trailers, and others are incorporated with circuit breakers for the safety of the circuits.

Electrical Insulation Materials Market: The growing safety measures among electrical equipment are expanding Electrical Insulation Materials Market size during the forecast period.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

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Contact Information:

Mr. Venkat Reddy IndustryARC Email: [email protected] USA: (+1) 518-282-4727

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Contact Information:

Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727

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