Global Circuit Breakers and Fuses Market Witnesses Emerging Opportunity in Evs, Solar Power, and Smart Meters

Both overload and short circuit can be highly dangerous to the performance and safety of an electrical circuit. This necessitates the use of a circuit breaker, which as the name indicates, interrupts the flow of electric current in the event of an overload or short circuit. Likewise, electric circuits also comprise a fuse – a resistor with a low resistance setting that acts as a sacrificial appliance to prevent greater damage to a circuit in the event of a short circuit or overload.

Given their ubiquitous nature, fuses and circuit breakers comprise a multibillion dollar market. In 2014, the global circuit breakers and fuses market was pegged at US$20.75 billion. Transparency Market Research expects that the global circuit breakers and fuses market will stand at US$31.11 billion by the end of 2021. This translates to a 6% CAGR between 2015 and 2021.

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Mandates Pertaining to Electric Device Protection Components Propel Demand for Circuit Breakers and Fuses

With far flung regions in the world now gaining access to electricity, industrialization and infrastructure development have gathered pace in many developing regions of the world. This has further fuelled the demand for electricity, ultimately also leading to a higher demand for circuit breakers and fuses.

The breakneck speed at which the consumer electronics sector is expanding is yet another growth driver for the global electric circuit breakers and fuses market that cannot be overlooked. Though electronic devices are getting more sophisticated with time, many of them remain vulnerable to failure if exposed to power fluctuations. Again, this necessitates the use of circuit breakers and fuses. However, it has become imperative that the evolution of circuit breakers and fuses keeps pace with that of electronic devices – this is the only way in which companies in...