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Circuit Protection Market Trends

  • Report ID: GMI9939
  • Published Date: Jun 2024
  • Report Format: PDF

Circuit Protection Market Trends

The increasing electrical and electronic device usage in every sector has triggered the rising growth of circuit protection devices. Industrial sectors are increasingly adopting automation and advanced machinery to improve efficiency and achieve high productivity. These systems rely on sensitive electronic components that need core circuit protection to prevent damage from electrical faults and ensure continuous operation. For instance, in October 2022, Mitsubishi Electric Power Product Company, Inc. (MEPPI) announced the first shipments of its 72kV Vacuum Circuit Breaker (VCB) with dry-air insulation, the latest addition to the company’s switchgear product line. Designed, assembled, and tested in the U.S., the company’s 72kV vacuum circuit breaker meets all applicable ANSI, IEEE, and IEC certification standards. Its vacuum circuit breaker eliminates the need and expense of tracking and documenting greenhouse gases, hence lowering Operational and Maintenance (O&M) costs.
 

The growing use of electronics in automotive applications, from Engine Control Units (ECUs) to electric power steering and other systems, highlights the importance of circuit protection. These critical systems must be protected from electrical faults to ensure vehicle performance and safety. For instance, in May 2022, AutomationDirect brought Gladiator GCB series molded case circuit breakers to its lineup of circuit protection devices. Gladiator MCCBs are designed to reliably protect circuits and equipment from thermal overloads, short circuits, and ground faults. Available in two or three-pole configurations, these high-performance circuit breakers are offered in seven frame sizes up to 1,200A with a selection of trip units and up to a 100kA interrupting capacity.
 

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Global industry size for circuit protection was valued at USD 52.6 billion in 2023 and is anticipated to register over 7.3% CAGR between 2024 and 2032 driven by rapid urbanization and infrastructure development and developments in renewable energy infrastructure.

The commercial and residential segment in the circuit protection market is expected to reach USD 25 billion by 2032 owing to the rising adoption of smart home technology

Asia Pacific market is expected to reach USD 35 billion by 2032 due to the rapid industrialization, urban development, and substantial investments in infrastructure projects requiring robust electrical protection solutions.

ABB Ltd., Siemens AG, General Electric (GE), Mitsubishi Electric Corporation, Eaton Corporation, Schneider Electric SE, and NXP Semiconductors N.V.

Circuit Protection Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 356
  • Countries covered: 21
  • Pages: 220
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