Felton, 27 November
2019 - Circuit Breaker, Fuse and Relay Market
is expected to witness a steady growth owing to their increasing utilization in
the power sector. They have several applications pertaining to generation,
distribution and transmission of power. Significant growth in the global market
for circuit breakers, fuse and relays is projected owing to increase in demand
for energy in the forecast period. This significant rise in the demand for
electricity has led to increasing need for T&D networks which will in turn
have a positive impact on the circuit breakers, protective fuse and relay
market. The recent increase in the demand for electricity can be attributed to
factors such as rapid industrialization, increasing population, and
urbanization.
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Key factors such as adoption of automotive electronics are
expected to fuel prospects of market growth in the foreseeable future. Increase
in the demand for automotive electronics is a significant trend that is
expected to drive the demand for circuit breakers, fuses, and relays from the
automotive industry. The implementation of electronic components in vehicles
facilitates the use of circuit breakers, fuses, and relays for the safety of
the electronic components. Due to the popularity of augmented demand for
advanced in-car systems such as advanced driver assistance systems, premium
audio systems infotainment systems, on-board diagnostic systems, and electronic
transmission the global circuit breakers, fuse and relay industry is projected
to witness a positive market growth.
With the adoption of circuit breakers, fuse and relay
systems spread across various consumer segments with capabilities pertaining to
electronic and electric sector, this market is expected to witness an extremely
competitive environment. Global circuit breaker, fuse and relay industry is
highly fragmented with the presence of large number of small and regional
vendors. Need to have a diverse product portfolio and increased market
penetration has led prominent vendors in the market to integrate optimized
technology into their products.
A protective relay ensures reliable and safe operation of
substations by tripping the circuit breaker in the case of a fault. Rise in the
need for modernization of substations propels the demand for protective relays.
Growing automated substations market on account of reduced operational costs
and improved grid security is expected to boost the growth in the global
circuit breaker, relay and fuse industry,
The market on the basis of product is segmented into three
categories, Circuit breaker, Fuse and Relay. The circuit breaker product
segment is projected to capture an impressive market share owing to growing
demand for electricity and expanding T&D networks that will contribute to the
growth of this market segment until the end of estimated period. Further, with
the rising demand for alternative electrical transmission systems, the market
for circuit breakers will have a positive demand until the end of the forecast
period. A key substitute for mechanical relay is solid state devices on account
of their popularity owing to its ability to interrupt currents that is
synchronous to alternating current waveforms. Solid state devices interrupt
with high alternating current flow and simultaneously avoid high voltage
generation.
Dominant players in this market include Americas, APAC and
EMEA. Asia pacific was the largest market for circuit breakers, fuses, and
relays, and is estimated to retain its market position attributing to
investments in the power infrastructure. Growth in construction and automotive
market is a key factor that is expected to drive the market growth in Asia
Pacific in the forecast period Owing to these factors the growth rate in APAC
is expected to reach a rate of over 7%
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