Global circuit breakers and fuses market is expected to reach growth of $32.0 billion by 2019 after having surge in growth of $21.0 billion in year 2014. The latest report by a leading research firm presents a forecast in compound annual growth rate of global circuit breakers and fuses market which is expected to increase by %6.5 between the years 2015-2020.
The latest research report published by Zion breaks down the global circuit breakers and fuses market by segments such as types, voltage, and area of applications. To further elaborate, the segmentation by types includes SF6, air vacuum, oil, and other types; by voltage means demand for circuit breakers and fuses of low, medium and high voltage; and by application means industries like automotive, electronics, industrial, construction and other similar sections. But before moving forward, let us explain what are fuses and circuit breakers.
Such types of circuit breakers and fuses come in the category of electronics equipments that are fully automatic and can operate in low, medium and high voltage applications. The advancement of industrialization and development in construction industry has accelerated the growth of circuit breakers and fuses market since past few years. Backed by government initiatives, the utilization and installation of circuit breakers and fuses in modern industrial projects has driven the possible growth of circuit breakers and fuses market in forthcoming years.
The future possible rise in demand for circuit breakers and fuses is accelerated by increase in energy consumption by consumers. Also, the increasing trend of consumption has raised the increase in demand for such products in consumer market especially in North American and Asia pacific regions. The two main causes of increase in demand and healthy growth of such products is utilization in power generation and protection of sensitive electrical equipments in consumer market. Following this trend, the increase in production and consumption of automotive, construction and consumer electronics products has projected the boost in demand of circuit breaker industry.
Following highlight of report was presented to you by Yueqing Confly International, For more information read full report at Link