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United States Circuit Breaker Market to Reach US$ 3.91 Billion by 2025, Fostered by the Increasing Deployment of Smart Grids

According to the latest report by IMARC Group, titled "United States Circuit Breaker Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the United States circuit breaker market size reached US$ 3.40 Billion in 2019. Circuit breakers are switching devices that are crafted to control and protect the electrical power system. These devices operate manually or automictically for guarding the electric circuit against the damages caused by the flow of excess current from either overload or short circuits. They interrupt the current flow of irregular power by opening or closing electrical circuits, following which they can be reset to resume their usual operations. Considered as one of the most important safety mechanisms, circuit breakers are installed across residential, industrial and commercial sectors in the United States to reduce the risks of potential fire hazards resulting from wiring issues and equipment failures.

The United States Circuit Breaker Market Trends:

The market in the United States is driven by the confluence of several factors, including increasing electricity consumption and the consistent demand for operational safety in the energy sector. Moreover, the Government of the US is taking initiatives to renovate the aging grid infrastructure and deploy smart grids throughout the country to accommodate complex power flows with enhanced reliability. Since circuit breakers form an indispensable component of these grids, this is creating a positive outlook for the market. Furthermore, fuses are increasingly being replaced by circuit breakers across the residential and commercial spaces since these devices work effectively amid high-voltage fluctuations, unlike the former, which is acting as another major growth-inducing factor. Other factors driving the market growth in the country include the expansion of the power sector and several utility projects in the pipeline. On account of the aforementioned factors, the market is projected to reach a value of US$ 3.91 Billion by 2025, expanding at a CAGR of 2.3% during the forecast period (2020-2025).

Market Summary:

  • On the basis of the product type, the market is bifurcated into indoor and outdoor circuit breakers.
  • Based on the voltage, the market has been divided into low, medium and high voltage.
  • On the basis of the technology, the market has been categorized into air, vacuum, oil and SF6.
  • Based on the end use, the market has been classified into transmission and distribution, renewable, power generation and railways.
  • On the geographical front, the market has been segregated into Northeast, Midwest, South and West.
  • The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market.

 

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