Circuit Breaker And Fuse Market Size, Share, Opportunities, And Trends By Component (Circuit Breaker, Fuse), By Voltage (High, Medium, Low), By Technology (Air Blast Circuit Breakers, Vacuum Circuit Breakers, Oil Circuit Breaker, SF6 Circuit Breaker, Others), By Application, Construction, Consumer Electronics, Industrial, Power Generation & Distribution, Transport, Others), And By Geography - Forecasts From 2024 To 2029

The circuit breaker and fuse market is expected to show steady growth during the forecast period.

Circuit breakers and fuses are two types of electrical protection devices that are used in electrical systems to prevent damage from overcurrent flow. A circuit breaker and fuse are automatic equipment that can be operated manually or automatically to interrupt current flow in a circuit. It is intended to detect overloads and short circuits and quickly disconnect the circuit to prevent electrical fires or equipment damage. Such electrical devices are used in numerous sectors such as construction, consumer electronics, industrial, power generation & distribution, and transport. Increasing automotive production and the establishment of new solar power plants contribute to the circuit breaker and fuse market growth.

Market Drivers

• Increasing automotive production bolsters the circuit breaker and fuse market growth.

Circuit breakers and fuses help to keep vehicles safe by protecting the electrical systems. Modern vehicles are outfitted with a variety of electronic components, such as infotainment systems, advanced driver-assistance systems (ADAS), and electric vehicle components. Therefore, these systems necessitate a consistent and dependable power supply, and circuit breakers and fuses ensure that electrical circuits are properly controlled, protecting both the components and the vehicle itself. The rise in automotive production is a major driving force behind the circuit breaker and fuse market growth. For instance, according to the European Automobile Manufacturers Association, in 2022, 85.4 million motor vehicles were produced worldwide, a 5.7% increase over 2021.

• The establishment of solar power plants drives the circuit breaker and fuse market growth.

Circuit breakers and fuse play an essential role in solar power plants to protect various components such as solar panels, inverters, and batteries. They aid in the prevention of damage caused by excessive current or short circuits, and they improve system safety and reliability by quickly disconnecting the faulty component from the rest of the circuit. This makes them an ideal option for solar power plants. Favorable investments and initiatives to bolster the establishment of new solar power plants have contributed to the circuit breaker and fuse market growth. For instance, in March 2023, the World Bank's Board of Executive Directors approved $12 million in financing support for the Scaling Solar 2 Project in Uzbekistan.

• New industrial Park establishment accelerated the circuit breaker and fuse market growth.

Circuit breakers and fuses are necessary components of industrial parks as they ensure the safe and efficient operation of electrical systems, protect equipment and prevent potential electrical accidents and fires. Rapid industrialization coupled with investments in the establishment of the new industrial park is a major driving force behind the circuit breaker and fuse market growth. For instance, in December 2023, Panattoni, the world's largest industrial real estate developer, announced the launch of the initial phase of Panattoni Park NH71 in Delhi NCR, its first project in India.

Asia Pacific is expected to grow significantly.

Asia Pacific is projected to account for a major portion of the circuit breaker and fuse market due to the increasing automotive production and the establishment of new solar power plants in the region. For instance, according to the International Organization of Motor Vehicle Manufacturers, in 2022, 54,56,857 units were produced in India, an increase of 24%, and 27,020,615 units in China, an increase of 3% compared to the year 2021. Additionally, in September 2023, Tata Power Energy Solutions announced that they will construct a 41 MW captive solar plant in Tamil Nadu for TP Solar's upcoming 4.3 GW solar cell and module manufacturing facility.

Market Restraints

• Installation complexity will restrain the circuit breakers and fuse market growth

Circuit breakers and fuses are more complicated in terms of design and operation, making them more difficult to install and maintain, and the difficulties and complexities associated with the installation and integration affect electrical components into various applications. This may limit the adoption of circuit breakers and fuse which may hinder the market growth.

Market Developments

• July 2023- Siemens introduced two new variants of its innovative Sentron 3WA power circuit breakers, Series 3WA3 complies with UL 1066 and IEC 60947-2 standards, allowing customers to use it globally. It is intended to improve usability, reliability, and digitalization when integrated into existing systems and is critical for essential facilities such as hospitals or data centers.
• April 2023- Havells India Limited took a strategic step forward in the Indian electrical industry with its commercial contract with Sweden's Blixt Tech AB by launching ground-breaking solid-state circuit breakers (SSCB) in India.
• February 2023- The Mitsubishi Electric Corporation announced a share transfer agreement for the acquisition of Scibreak AB, a Swedish company that produces direct current circuit breakers. The two companies aim to boost the competitiveness of their combined business by collaborating on the development of direct current circuit breaker technologies for high-voltage direct current systems to assist in the global expansion of renewable energy deployment.

Company Products

• SACE Tmax XT- The SACE Tmax XT series of Moulded Case Circuit Breakers (MCCBs) offered by ABB is intended to maximize ease of use, integration, and connectivity while providing safety and quality consistently. It provides complete flexibility, extreme breaking power, and dependable performance under pressure with seven different sizes and up to 1600A of security. It takes 10 minutes to connect with the cloud and 30% less time is required for installation and setting.
• MasterPact MTZ- MasterPact MTZ is a complete line of air circuit breakers designed to protect electrical systems from overloads, short circuits, and equipment ground faults and it is provided by Schneider Electric. Masterpact MTZ incorporates advanced digital technologies and Micrologic X control units, which contribute to increased safety and energy efficiency. It comes in three different frame sizes and can be outfitted with a variety of control units, accessories, and digital modules.
• Air Circuit Breakers (ACB)- Mitsubishi Electric Corporation provides air circuit breakers, it is a circuit breaker used to protect low voltage circuits, primarily by energizing and cutting off the high current. It is used as the master of a factory and building, as well as the main circuit breaker of a ship, and various accessories can be attached depending on the purpose. It consists of an electric trip relay trigger circuit that generates a trigger signal to activate the trip coil when the CT identifies that the value exceeds the predetermined value.
• 1489-M Thermal-Magnetic Circuit Breakers- Rockwell Automation’s 1489-M Thermal-magnetic Circuit Breakers are UL 489 certified. They are listed for branch circuit protection in the United States and Canada and are certified as Miniature Circuit Breakers for IEC applications. These circuit breakers are ideal for harsh environmental conditions, with quick breaking time and superior shock and vibration resistance. It provides C and D trip curves and includes reversible line and load connections.

Segmentation

• By Component
  • Circuit Breaker
  • Fuse
• By Voltage
  • High
  • Medium
  • Low
• By Technology
  • Air Blast Circuit Breakers
  • Vacuum Circuit Breakers
  • Oil Circuit Breaker
  • SF6 Circuit Breaker
  • Others
• By Application
  • Construction
  • Consumer Electronics
  • Industrial
  • Power Generation & Distribution
  • Transport
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Others