Circuit Breaker Fuses Market is expected to reach USD 31.11 Billion in 2021
The Global Circuit Breakers Fuses Market has been covered under the scope of this report.Electrical switches which operate automatically to protect the electrical circuit from damage by turning it on/off when faced with overload or short circuit. The basic function of the circuit breaker is to identify any malfunctioning and breakup in the current flow. Whereas fuses are a kind of low resistance resistor which acts as a sacrificial appliance designed to protect the circuit from either load or short circuit. Circuit breakers and fuses find application in the construction industry, automotive industry, consumer electronics and power industry among others.
High focus on efficient and reliable power distribution and transmission coupled with the installation of new energy infrastructure in emerging economies is expected to boost the circuit breakers and fuses market.
Industrial infrastructure and construction sectors in developing nations such as Brazil, India, and Indonesia are witnessing significant increase in demand for and fuses in the last few years.
This increase in demand is driven by large spending on housing, water supply, rail transport, roads, airport development, and ports.Fuses are used in residential and commercial construction projects.
Increased demand from the construction sector has also triggered demand for circuit breakers and fuses in countries such as India, China, Indonesia, and Philippines. Furthermore, increased need to meet demand for electricity distribution is anticipated to boost the circuit breakers and fuses market during the forecast period.
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The global fuses market is segmented by region in North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). North America leads the global circuit breakers and fuses market, followed by Asia Pacific in 2014. Rising demand for electricity due to rapid urbanization has made Asia Pacific a lucrative market for fuses. Higher focus on efficient and reliable power transmission and distribution coupled with the installation of new energy infrastructure in emerging economies is expected to boost the circuit breakers and fuses market.
The global fuses market is segmented by the voltage level of installation into: low, medium and high voltage. By arc quenching media type the circuit breaker and fuses market has been segmented into: air, vacuum, oil and SF6 circuit breakers.
The global fuses market is segmented into: low voltage fuses and high voltage fuses. The low voltage fuses are further segmented into Plug-in fuses and cartridge fuses. The low voltage circuit breakers were a major contributor to the global circuit breakers and fuses market in 2014.