Circuit Protection Devices Market Analysis | 2021-2026

“The Circuit Protection Devices Market was estimated at US$ 43.8 billion in 2020 and is expected to grow at a CAGR of 6.9% during 2021-2026 to reach US$ 64.9 billion by 2026.”

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Market Dynamics

Introduction

Circuit protection devices refer to installing weak links such as a circuit breaker or a fuse in an electrical circuit. These are installed to prevent wire conductors from overheating and consequential damage. Frequent voltage volatility can damage equipment through electrostatic discharge and lower lifespan.

Circuit breakers, electrostatic discharge, fuses, and surge protection devices are some of the circuit protection devices installed to eradicate the threats of electrocution & fire. These form a major component in the production of laptops, computers, battery packs, smartphones, communication systems, and portable electronics.

Market Drivers

The circuit protection devices market is primarily driven by significant growth in the automotive electronics sector and the expanding Internet of Things (IoT) industry. Also, the introduction of IoT applications across various sectors along with the growth of the automotive electronics industry. Moreover, the growing consumption of electricity among consumers and rapid industrialization & urbanization in developing countries further bolster the market potential.

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COVID-19 Impact

The COVID-19 pandemic has negatively affected the circuit protection devices industry. Geopolitical changes and trade disputes, along with the changing degrees of lockdowns imposed in different countries affected the production of circuit protection products as well as disrupted supply chains. Also, the ensuing shortage of raw materials resulted in a rise in raw material costs and further resulted in order delays or even order cancellations.

Segments Analysis

By Product Type

“The circuit breaker segment accounted for the largest market share during the forecast period.”

The circuit protection devices market has been classified into circuit breaker, fuse, GFCI, HD Pro, inrush current limiter, mobile power protection, overvoltage protection, and PTC Devices. The circuit breaker segment accounted for the largest market share in 2020. A circuit breaker refers to a switching device, which is intended to protect an electrical circuit from damage by interfering with an abnormal or faulty current.

Increasing demand for better electrical connectivity, smart grids, and energy efficiency, is augmenting the demand for circuit breakers with higher quality, accuracy, and reliability.

Regional Analysis

“North America accounted for the highest share of more than 36% in 2020.”

North America is expected to grow at a robust CAGR during the review period. The Circuit Protection Devices market growth is mainly attributed to the rising need for circuit protection, increasing concern regarding the safety of electronic & telecommunication equipment, and growing investments in infrastructure development activities in the region.

The Asia-Pacific market is expected to grow at a robust CAGR during the review period on account of expanding construction activities as well as rising growing adoption of renewable power generation sources, such as wind & solar, which has resulted in an increased demand for circuit protection devices.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  

The following are the key players in the circuit protection devices market (arranged alphabetically).

• ABB Group (Switzerland)
• Bel Fuse Inc. (US)
• Eaton Corporation (Ireland)
• General Electric Company (US)
• Mitsubishi Electric Corporation (Japan)
• NXP Semiconductors N.V. (Netherlands)
• Rockwell Automation, Inc.
• Schneider Electric (France)
• Siemens AG (Germany)
• Texas Instruments Incorporated (US)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

The target audience of the circuit protection devices market includes-

• Circuit Protection Devices Manufacturers
• Vendors
• Distributors
• Organizations
• Government Bodies.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]