Global circuit breakers market set to reach USD 26.63 billion by 2033, driven by renewable energy growth

From Globe Newswire: 2025-01-21 02:36:00

Circuit breakers protect electrical systems from damage due to excessive current. They automatically stop the flow of current during faults or overload. Market demand is driven by the need for reliable power delivery. Growth in renewable energy production creates opportunities for circuit breakers in smart cities. Asia-Pacific leads the market share, with a 4.8% CAGR. North America follows with a 5.9% CAGR.

The global circuit breakers market is valued at USD 15.34 billion in 2024, expected to reach USD 26.63 billion by 2033. High voltage segment dominates with a 5.21% CAGR. Asia-Pacific holds the largest market share with a 4.8% CAGR. Competitive players include ABB Group, Siemens AG, and more. Recent developments include innovative circuit protection devices by ABB and Siemens.

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Read more at Globe Newswire: Circuit Breakers Market Size to Worth USD 26.63