Published Date : Feb 21, 2017
ALBANY, NY, Feb 21, 2017: The global circuit protection market is prophesied to acquire a lofty demand from the construction industry of developed countries such as the U.S. and rising interest of the emerging nations such as China in smart building infrastructure. MarketResearchReports.biz has added a pinpoint and inch-perfect report on the global market which is envisaged to make a commanding progress between 2017 and 2021 while recording a CAGR of 7.1%. With a broad picture of the future as well as present scenario of the market, the report has shed light on some of the most deciding factors deemed important for players operating in the industry.
One of the few challenges that the world circuit protection market could be faced with is the environment of fierce competition and high fragmentation. However, the soaring trend of an augmenting number of circuit protection applications in smart machinery is expected to make for the slight slowdown in world market. The circuit protection companies could expect more market opportunities with distribution and power transmission network capacity expansion in emerging markets such as India and China. The capacity expansion in these markets is mainly attributed to their aggressive urbanization and industrial development.
While India and China are among the largest consumers of electricity, the U.S. has emerged as a major and mature market for electric utility. Circuit protection devices such as circuit fuses and breakers could be increasingly demanded in these markets, owing to the elevating upgradation and expansion of the aforementioned networks and the massive amounts of investment made to support the tasks.
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Geographically, the authors of the publication have taken into account the key regions of Asia Pacific, the Americas, and Europe, the Middle East and Africa (EMEA). As mentioned earlier, the construction sector has had a close association with the international circuit protection market. Considering this correlation, North America could hike up the demand for circuit protection in the top 11 cities recognized by the U.S. Environmental Protection Agency (EPA) in a report. In 2015, these cities have had the highest count of energy-certified buildings.
The demand growth in the global circuit protection market could also be supported by other markets such as consumer electronics, electrical equipment, and automotive. As one of the largest markets for consumer electronics, the Americas could rake in a colossal demand. The region is likely to ride its growth on the circuit protection functionalities such as protecting the devices and users from short circuit, overvoltage, and overcurrent.
Apart from geographical segmentation, the report has studied the world circuit protection market on the basis of product and end-user segmentation, where automotive, electrical and electronic equipment, industrial machinery, and electric utility could be the major end-user segments. Companies such as Siemens, Eaton, and ABB have marked their presence in the global market.
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