June 21, 2021 11:40 US Eastern Time | Source: United Market Research United Market Research
Portland, Oregon, June 21, 2021 (Global News Agency)-According to a report released by Allied Market Research, the global circuit breaker market reached US$9.8 billion in 2018 and is expected to reach US$14.8 billion by 2026. The compound annual growth rate is 5.3% from 2019 to 2026. The study conducted an extensive analysis of changing market trends, market size and forecasts, winning strategies, key market segments, and competitive landscape.
The increase in power demand, the demand for reliable power transmission, and the surge in global power access rates have promoted the growth of the global circuit breaker market. However, the lack of standard safety regulations on product quality limits market growth. On the other hand, the increase in renewable energy production is expected to create new opportunities for market growth.
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The report provides a detailed breakdown of the global circuit breaker market based on voltage, installation, application, and region.
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In terms of voltage, the low-end market has the highest market share in 2018, accounting for more than half of the total share, and will maintain its dominant position in revenue by 2026. However, the high-end is expected to witness the largest CAGR of 5.6% from 2019 to 2026.
Calculated by installation volume, the indoor part had the highest share in 2018, accounting for more than three-fifths of the global circuit breaker market, and it is expected to maintain its leading position during the forecast period. On the contrary, the outdoor sector is expected to have the fastest compound annual growth rate from 2019 to 2026, at 5.5%.
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By region, the Asia-Pacific region had the highest share in 2018, accounting for nearly two-fifths of the total share in 2018, and will continue to maintain its leading position in 2026. However, North America is expected to have the highest compound annual growth rate of 6.1% from 2019 to 2026.
The leading companies in the global circuit breaker market analyzed in the report include Daicel Corporation, BASF SE, HNA Industrial Co., Ltd., Merck KGaA, Corbion NV, Polysciences, Inc., Otto Chemie Pvt. Co., Ltd., Shenzhen eSUN Industrial Co., Ltd. , Perstorp Holding AB, Shenzhen Poly Biological Materials Co., Ltd., etc.
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