New York, NY Dec 12 2019: The Global
Circuit Breaker & Fuses Market is anticipated to
reach USD 19.41 billion by 2026 according to a new study published by Polaris
Market Research. Various initiatives to renovate existing power grid and
installation of new smart and green substations is driving the circuit breaker
and fuses market in near future. In addition, technological advancement will
also encourage sales volume of circuit breakers in different applications, such
factors have highly propelled circuit breaker & fuses market worldwide.
However, Stringent government regulations and intense competition from local
players are some of the factors that could affect the growth of the market.
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With the growing number of smart cities around the
globe, the need for new and intelligent infrastructure to meet the advanced
requirements of residents and businesses is also increasing. An effective way
to support these city goals is by using technology which supports power
conservation, and optimize and control key systems and infrastructure. The
growing number of smart cities and green constructions is influencing the
circuit breaker and fuses market congruently. Apart from this, market is
projected to witness a high growth on the account of increasing substantially
big residential and construction activities, and up-gradation of electrical
power distribution infrastructure in commercial and industrial sector. It is
expected that by 2050, more than two-third of world population will be living
in cities and these cities will be fully electrified. This increase in power
transmission will boost the market, which is primary choice for power
transmission and distribution among various end-user.
Currently, APAC region dominates the global circuit
breaker & fuses market attributed due to the aggressive renewal activity of
age-old electrical infrastructure is going on in different developing countries
with the increasing demand of power. Circuit breaker & fuses providers in
the region, and robust technical adoption base. However, with global power
demand and spending both is increasing significantly over last few years, the
trend is more specific in developing region especially in countries of APAC and
MEA.
Do you have questions or special requirements? Ask our industry
experts: https://www.polarismarketresearch.com/industry-analysis/circuit-breaker-and-fuses-market/speak-to-analyst
Major companies profiled in the Breaker & Fuses
Market report include ABB Ltd., Eaton Corporation, Alstom SA, Schneider
Electric, General Electric, Mitsubishi Electric, Siemens AG, Eaton Corporation
Plc, Toshiba Corporation and Maxwell Technologies, among others.
Key findings from the study suggest the APAC Breaker
& Fuses Market is expected to dominate over the forecast years and is
presumed to be the fastest growing market. Some of the key factors influencing
this growth are increasing per capita income and government initiations with
respect to rising urbanization and industrialization. In past few years, APAC
has become an industrial hub and is still in its growing phase. Rising power
demand in Asia Pacific and Middle East has not only led to higher power
production but also changes in consumption patterns.
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Market Research
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