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The global circuit breaker market reached a value of US$ 7.91 Billion in 2020.
The market is presently witnessing growth on account of rapid urbanization, increasing population and continually rising need for upgrading electrical transmission networks, especially in emerging economies.
Currently, governing agencies in developed countries are replacing the old electrical equipment with energy-efficient systems to ensure safety and minimize wastage.
There is a decline in the overall sales of circuit breakers due to the surging cases of the coronavirus disease (COVID-19) and consequent lockdown imposed in different countries to prevent the spread of the pandemic.
The market has been bifurcated on the basis of the product type into indoor and outdoor circuit breakers.
On the basis of the voltage, the market has been segmented into low, medium and high voltage circuit breakers.
Based on technology, the market has been segregated into air, vacuum, oil and SF6.
The market has been analyzed on the basis of the end use into transmission and distribution, renewable, power generation, and railways.
On the geographical front, the market has been divided into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
Leading industry players are ABB Group, Alstom SA, Eaton Corporation Inc., General Electric Company, Mitsubishi Electric Power Products, Inc., Schneider Electric, Siemens AG, Camsco Electric Co. Ltd., G&W Electric Co., Kirloskar Electric Co. Ltd., Larsen & Toubro Limited, Powell Industries Inc., SCHURTER Holding AG, Sensata Technologies Inc. and Toshiba Corporation.
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