Overview and Scope
The circuit protection refers to the device that detects current or voltage and protects a circuit against overcurrent or overvoltage problems. To provide the maximum level of security, several protective devices are available on the market, including fuses, circuit breakers, RCCBs, gas discharge tubes, thyristors, and others.
Sizing and Forecast
The circuit protection market size has grown rapidly in recent years. It will grow from <b>$50.06 billion in 2023 to $55.41 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. </b> The growth in the historic period can be attributed to electronics industry growth, increased demand for automotive electronics, increased in industrial automation, growth of the infrastructure development, and increased consumer electronics demand.
The circuit protection market size is expected to see rapid growth in the next few years. It will grow to <b>$83 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. </b> The growth in the forecast period can be attributed to increasing smart grid implementation, solar and wind power generation, miniaturization and microelectronics, data center expansion, increasing safety and reliability concerns. Major trends in the forecast period include technological advancements, internet of things (iot), 5g technology rollout, industrial iot (iiot), and introduction of energy storage technologies.
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Segmentation & Regional Insights
The circuit protection market covered in this report is segmented –
1) By Type: Overcurrent Protection, Electrostatic Discharge (ESD) Protection, Overvoltage Protection
2) By Device: Circuit Breakers, Fuses, ESD Protection Devices, Surge Protection Devices
3) By Channel Outlook: Original Equipment Manufacturer (OEM), Retail, Wholesale
4) By End-User: Automotive And Transportation, Electrical And Electronics, Energy, Construction, Industrial, Other End Users
<b>North America</b> was the largest region in the circuit protection market in 2023. The regions covered in the circuit protection market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing demand for smartphones, PCs, laptops, and tablets is expected to drive the growth of the circuit protection market. Circuit protection is used to protect a device from damage caused by excessive flow of current. This situation can occur in electronic devices such as smartphones. By installing circuit protection, such a situation can be avoided. In April 2021, according to the report published by Canalys, a market analyst firm, PC sales have remained stagnating for years due to the rise of smartphones. Over the last year, global shipments of desktops, laptops, and workstations have surged by 55%. The raw numbers—82.7 million units—make it the company’s highest first-quarter shipment order since 2012. Notebook and mobile workstation shipments have surged by 79% year over year to 67.8 million units. Therefore, the rising demand for smartphones, PCs, and tablets drives the circuit protection market growth.
Key Industry Players
Major companies operating in the circuit protection market include <b> ABB Ltd., Alstom SA, Bel Fuse Inc., Eaton Corporation plc, General Electric Company, Hitachi Ltd., Keko-Vericon Sp. z o.o., Larsen & Toubro Limited, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens Aktiengesellschaft, Texas Instruments Incorporated, Altech Corporation Pty. Ltd., Automation Systems Interconnect Inc., Bourns Inc., Carling Technologies Inc., CBI-electric: low voltage (Pty) Ltd., CHINT Electric Co. Ltd., Cooper Bussmann LLC, Delta Electronics Inc., E-T-A Circuit Breakers GmbH, Fuji Electric Co. Ltd., Hager Group, Legrand SA, Leviton Manufacturing Co. Inc., Littelfuse Inc., Lovato Electric S.p.A., Mersen S.A., Phoenix Contact GmbH & Co. KG </b>
The circuit protection market report table of contents includes:
1. Executive Summary
2.Circuit Protection Market Characteristics
3.Circuit Protection Market Trends And Strategies
4.Circuit Protection ‘Market analysis
5.Circuit Protection Market Size And Growth
6.Circuit Protection Segmentation
7.Circuit Protection Regional And Country Analysis
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27.Circuit Protection Competitive Landscape And Company Profiles
28.Circuit Protection Key Mergers And Acquisitions
29. Circuit Protection Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- ABB Ltd.
- Alstom SA
- Bel Fuse Inc.
- Eaton Corporation plc
- General Electric Company
- Hitachi Ltd.
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