The latest report by IMARC Group, titled “Circuit Protection Market Report by Type (Overcurrent Protection, Electrostatic Discharge (ESD) Protection, Overvoltage Protection), Device (Circuit Breakers, Fuses, ESD Protection Devices, Surge Protection Devices), End-Use (Residential Building Construction, Non-Residential Building Construction, Automotive, Electrical and Electronics, and Others), and Region 2024-2032,” finds that the global circuit protection market reached a value of US$ 46.5 Billion in 2023. Circuit protection refers to the deployment of a wide range of equipment in case of unexpected power fluctuations. It works by disconnecting power in the circuit, which prevents electrocution and fire threats. There are various components, such as fuse and circuit breakers, which are usually installed as circuit protection to avoid the wire conductor from overheating and damaging the equipment. Circuit protection devices are designed and developed to provide safety and high-performance standards in electrical transmission, distribution networks, and electronic equipment. The voltage fluctuations in equipment reduce the life span and efficiency of the system. As a result, a circuit protection system safeguards the low voltage devices from damages caused due to lightning and electrostatic discharge (ESD).
Global Circuit Protection Market Trends:
The global circuit protection market is primarily driven by the rapid growth of the automotive industry. In automotive vehicles, circuit protection is used to enhance driving assistance, passenger comfort, and safety. Besides this, the rapid digitization and the rising utilization of electronic devices, including smartphones, tablets, computers, and laptops, have increased the demand for circuit protection. Moreover, with the growing awareness among consumers regarding the quality and standards of electronic products, there has been rising adoption of advanced circuit protection technologies. Furthermore, several manufacturers are also developing innovative and miniaturized products that are more vulnerable to voltage and electrical surges. Other factors, such as the growing penetration of the Internet of Things (IoT), infrastructural development, and construction of smart cities, are fueling the market growth. Looking forward, the market is expected to grow at a CAGR of 4.9% during the forecast period (2024-2032).
Market Summary:
- Based on the type, the market has been segmented into overcurrent, electrostatic discharge (ESD) and overvoltage protection.
- On the basis of the device, the market has been classified into circuit breakers, fuses, ESD protection devices, and surge protection devices.
- The market has been categorized based on the end use into residential building construction, non-residential building construction, automotive, electrical and electronics, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being ABB Ltd., BEL Fuse Inc., Eaton Corp. PLC, General Electric Company, Larsen & Toubro Ltd., Mitsubishi Electric Corp., NXP Semiconductors N.V., ON Semiconductor Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Texas Instruments Inc. and Hitachi Ltd.
Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Type, Device, End-Use, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
ABB Ltd., BEL Fuse Inc., Eaton Corp. PLC, General Electric Company, Larsen & Toubro Ltd., Mitsubishi Electric Corp., NXP Semiconductors N.V., ON Semiconductor Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Texas Instruments Inc. and Hitachi Ltd. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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