The global market for CircuitBreakers, Fuse, and Relays is expected to witness a steady growth owing to their increasing utilization in the power sector. They have several applications pertaining to generation, distribution and transmission of power. Significant growth in the global market for circuit breakers, fuse and relays is projected owing to increase in demand for energy in the forecast period. This significant rise in the demand for electricity has led to increasing need for T&D networks which will in turn have a positive impact on the circuit breakers, protective fuse and relay market. The recent increase in the demand for electricity can be attributed to factors such as rapid industrialization, increasing population, and urbanization.
Key
factors such as adoption of automotive electronics are expected to fuel
prospects of market growth in the foreseeable future. Increase in the demand
for automotive electronics is a significant trend that is expected to drive the
demand for circuit breakers, fuses, and relays from the automotive industry.
The implementation of electronic components in vehicles facilitates the use of
circuit breakers, fuses, and relays for the safety of the electronic
components. Due to the popularity of augmented demand for advanced in-car
systems such as advanced driver assistance systems, premium audio systems
infotainment systems, on-board diagnostic systems, and electronic transmission
the global circuit breakers, fuse and relay industry is projected to witness a
positive market growth.
With
the adoption of circuit breakers, fuse and relay systems spread across various
consumer segments with capabilities pertaining to electronic and electric
sector, this market is expected to witness an extremely competitive
environment. Global circuit breaker, fuse and relay industry is highly
fragmented with the presence of large number of small and regional vendors.
Need to have a diverse product portfolio and increased market penetration has
led prominent vendors in the market to integrate optimized technology into
their products.
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A
protective relay ensures reliable and safe operation of substations by tripping
the circuit breaker in the case of a fault. Rise in the need for modernization
of substations propels the demand for protective relays. Growing automated
substations market on account of reduced operational costs and improved grid
security is expected to boost the growth in the global circuit breaker, relay
and fuse industry,
The
market on the basis of product is segmented into three categories, Circuit
breaker, Fuse and Relay. The circuit breaker product segment is projected to
capture an impressive market share owing to growing demand for electricity and
expanding T&D networks that will contribute to the growth of this market
segment until the end of estimated period. Further, with the rising demand for
alternative electrical transmission systems, the market for circuit breakers
will have a positive demand until the end of the forecast period. A key
substitute for mechanical relay is solid state devices on account of their
popularity owing to its ability to interrupt currents that is synchronous to
alternating current waveforms. Solid state devices interrupt with high
alternating current flow and simultaneously avoid high voltage generation.
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Relays
are segmented on the basis of applications into four categories. Feeder
protection, Motor protection, Transmission line, and Transformer protection.
The feeder protection segment gained the largest market share on account of
growing demand for electricity coupled with increasing demand for establishing
and revamping distribution and transmission networks. The above mentioned
factors therefore have a positive impact on the market and have the ability to
propel the demand for protective relays However, high cost of raw materials
such as gold and silver used for component wiring are expected to hamper growth.
Dominant
players in this market include Americas, APAC and EMEA. Asia pacific was the
largest market for circuit breakers, fuses, and relays, and is estimated to
retain its market position attributing to investments in the power
infrastructure. Growth in construction and automotive market is a key factor
that is expected to drive the market growth in Asia Pacific in the forecast
period Owing to these factors the growth rate in APAC is expected to reach a
rate of over 7%
In
the mechanical relays market, APAC was the market leader in 2015, and is
expected to contribute to the market with the same trend over the next seven
years attributed to favorable developments in distribution and transmission
network in countries such as India, China, and the Philippines. Growing market
for power generation from renewable sources of energy offer huge opportunities
to differentiate their products from other major players in this market and
play a key role in the growth of demand of relay market
The
market for circuit breakers, fuse and relay market in North America is expected
to grow significantly in the future on account of rising demand for
electricity. Significant investment in Substantial investments in transmission
grid resulted in suppressed need of replacing worn out energy infrastructure.
Further, power generation sources such as wind and solar energy would require
greater distribution and transmission and investment. This would provide
greater avenues for growth opportunities in circuit breakers fuse and relay
market in North America
Key
vendors in the market include GE, ABB, Siemens, Schneider. Other vendors in
this market are Camsco Electric, Honeywell International, Cooper Industries,
Itron, Kirloskar Electric, Littelfuse, L&T, Mitsubishi Electric, Rockwell Automation,
NR Electric, S&C Electric, Sensata Technologies and Schurter Holding.
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