Low-voltage circuit breakers market projected to reach USD 25.24 billion by 2032

From GlobeNewswire: 2024-12-20 08:15:00

The Low-Voltage Circuit Breakers Market was valued at USD 10.90 billion in 2023 and is expected to reach USD 25.24 billion by 2032, growing at a CAGR of 9.78%. The market is driven by increased electricity consumption, urban infrastructure expansion, and technological innovations like smart features and IoT integration for remote monitoring.

In 2023, the Miniature Circuit Breaker segment accounted for 50% of the market, favored for its protection against overloads and short circuits. The Energy Allocation segment led in revenue, driven by the demand for efficient power distribution in renewable energy systems and traditional grids.

Asia-Pacific dominated the market in 2023, with 38% of global revenue, driven by industrialization, urbanization, and infrastructure growth. North America is expected to be the fastest-growing region from 2024 to 2032, due to renewable energy projects, smart grids, and EV infrastructure.

Recent developments include ABB launching Genix Copilot with Microsoft to enhance industrial operations, Schneider Electric unveiling the MasterPacT MTZ Active for data centers, and Mitsubishi Electric establishing a factory for automation products in ASEAN regions. SNS Insider is a top market research and consulting agency providing clients with up-to-date data to navigate changing markets. They use surveys, video chats, and focus groups worldwide to offer accurate market insights for confident decision-making. Learn more about the Low-Voltage Circuit Breakers Market Growth & Outlook Report 2024-2032 at https://www.snsinsider.com/reports/low-voltage-circuit-breakers-market-1366. Contact [email protected] for customization options.



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