The global circuit protection market is anticipated to grow at a steady rate and will post a CAGR of more than 7% during the forecast period. The growth of the automotive electronics market will drive the growth prospects for the global circuit protection market until the end of 2021. Most modern automobiles are embedded with electronic systems such as engine electronics, transmission electronics, chassis electronics, safety, driver assistance, passenger comfort, and infotainment systems, which help in controlling the automobile. In addition, they also provide driving assistance, passenger comfort, and infotainment systems to the automotive vehicles. Moreover, to protect these sensitive electronic components of the automobiles, electrical wiring systems are installed. As a result, the demand for circuit breakers and fuses for the design and engineering of automobiles will also grow. Moreover, customers have started demanding for more advanced circuitry protection devices that are used for specific needs of costly electronic control systems and comply with the rigorous standards of the automotive segment.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market in the forthcoming years. One of the major factors responsible for driving the demand for circuit protection devices is the upgradation of the aging power grid infrastructure in North America. In addition, there is an increasing demand for automotive electronics applications in the region because of the growing automotive segment in the US.
Competitive landscape and key vendors
The global circuit protection market is highly fragmented and competitive due to the presence of a large number of the regional level with multiple local players across the globe. Vendors are increasingly focusing on offering a series of products catering to the automotive electronics segment to meet the strong demand for advanced circuit protection devices to safeguard the sensitive and costly automobile electronic components.
Key vendors in this market are -
Other prominent vendors in the market include Automation Systems Interconnect, AVX, Bel Fuse, Bentek, Bourns, Communications Electrical Equipment & Supply, E-T-A, G&W Electric, General Electric, Hitachi, Legrand, Littelfuse, Mersen, Pennsylvania Breaker, Powell Industries, S&C Electric Company, Schneider Electric, SIBA, TE Connectivity, and Toshiba.
Segmentation by product and analysis of the circuit protection market
The circuit breakers segment accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the increasing number of advantageous functionalities of circuit breakers. Also, the potential of circuit breakers to provide better protection to the power transmission, distribution networks, and equipment.
Segmentation by end user and analysis of the circuit protection market
Electrical and electronics equipment
The electric utility segment accounted for the maximum market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the growing demand for circuit breakers and fuses in the electric utility segment is the rising investment in the expansion and upgrade of power transmission and distribution networks.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global circuit protection market?
What are the key market trends impacting the growth of the global circuit protection market?
What are the challenges to market growth?
Who are the key vendors in the global circuit protection market?
What are the market opportunities and threats faced by the vendors in the global circuit protection market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global circuit protection market?
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