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The India circuit breaker market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A circuit breaker is a switching device which interrupts the abnormal or faulty current and performs the function of a switch. It is basically designed for closing and opening of an electrical circuit, thus protecting the electrical system from damage. Its basic function is to interrupt current flow when fluctuations are detected. A major benefit of a circuit breaker is its usefulness in low-, medium-, and high-voltage applications. As a result, circuit breakers are being widely used across various industries such as construction, locomotive, transportation, etc.
The demand of circuit breakers in India is currently being driven by several factors. The improvement of electricity infrastructure across both urban and rural regions, replacement of old electrical systems with smart grids and emergence of non-conventional energy sources have increased the adoption of circuit breakers in the country. Moreover, catalysed by increasing economic growth and rising population, the demand of electricity has been increasing continuously in the country. Moreover, public and private expenditure towards the construction of power, sewage or water supply infrastructure have further promoted the spending on electrical infrastructure, thereby catalysing the growth of the circuit breaker industry. Other major factors driving the market include rising urbanization rates, new application areas, increasing government support, etc.
IMARC Group’s latest report provides a deep insight into the Indian circuit breaker market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian circuit breaker market in any manner.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Voltage, Technology, End-Use, Region|
|Region Covered||North India, East India, West and Central India, South India|
|Customization Scope||10% Free Customization|
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