Circuit Protection Devices Market Report

Market Insights

The Circuit Protection Devices Market is estimated to grow from USD 43.8 billion in 2020 to USD 64.9 billion by 2026 at a healthy CAGR of 6.9% during the forecast period.

Figure: Circuit Protection Devices Market Size, 2020-2026 (USD Billion)

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What is Circuit Protection Devices?

Circuit protection devices refers to the installation of weak link such as a circuit breaker or a fuse in an electrical circuit. These are installed to avoid wire conductor from overheating and consequent damage. Frequent voltage volatility can damage equipment through electrostatic discharge and lower its overall lifespan. Circuit breakers, electrostatic discharge, fuses, and surge protection devices, are some of circuit protection devices installed to eradicate the threats of electrocution & fire. These form a major component in the production of laptops, computers, battery packs, smartphones, communication systems, and portable electronics.

Covid-19 Impact Analysis

The COVID-19 pandemic has negatively affected the circuit protection devices industry. Geopolitical changes and trade disputes, along with the changing degrees of lockdowns imposed in different countries affected the production of circuit protection products as well as disrupted supply chains. Also, the ensuing shortage of raw materials resulted in a rise in raw material costs and further resulted in order delays or even order cancellations.

Key Players

Key players operating in the global Circuit Protection Devices Market are-

• ABB Group (Switzerland)
• Bel Fuse Inc. (US)
• Eaton Corporation (Ireland)
• General Electric Company (US)
• Mitsubishi Electric Corporation (Japan)
• NXP Semiconductors N.V. (Netherlands)
• Rockwell Automation, Inc.
• Schneider Electric (France)
• Siemens AG (Germany)
• Texas Instruments Incorporated (US)

Market Dynamics

The Circuit Protection Devices market is primarily driven by significant growth in the automotive electronics sector and expanding Internet of Things (IoT) industry. Also, introduction of IoT applications across various sectors along with the growth of the automotive electronics industry. Moreover, growing consumption of electricity among consumers and rapid industrialization & urbanization in the developing countries further bolster the market potential.

Segment’s Analysis

Product Trends

Based on product, the circuit protection devices market has been classified into circuit breaker, fuse, GFCI, HD Pro, inrush current limiter, mobile power protection, overvoltage protection, and PTC Devices. The circuit breaker segment accounted for the largest market share in 2020. A circuit breaker refers to a switching device, which is intended to protect an electrical circuit from damage by interfering an abnormal or fault current. Increasing demand for better electrical connectivity, smart grids, and energy efficiency, is augmenting the demand for circuit breakers with higher quality, accuracy, and reliability.

Regional Trends

By region, the North America Circuit Protection Devices market accounted the highest share of more than 36% in 2020 and is expected to grow at a robust CAGR during the review period. The Circuit Protection Devices market growth is mainly attributed to the rising need for circuit protection, increasing concern regarding the safety of electronic & telecommunication equipment, and growing investments in infrastructure development activities in the region.

The Asia Pacific Diabetes Circuit Protection Devices market is expected to grow at a robust CAGR during the review period on account of expanding construction activities as well as rising growing adoption of renewable power generation sources, such as wind & solar, which has resulted in an increased demand for circuit protection devices.

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global circuit protection devices market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026. Following are the critical questions answered in the report.

• What are the key trends in the global circuit protection devices market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global circuit protection devices market?
• What are the key strategies adopted by the major vendors to lead in the global circuit protection devices market?
• What is the market share of the top vendors?

Target Audience

The target audience of Circuit Protection Devices Market includes-

• Circuit Protection Devices Vendors
• Circuit Protection Devices Manufacturers
• Circuit Protection Devices Distributors
• Organizations
• Government Bodies.

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