Global Circuit Protection Market to Gain Pace, Driven by Increasing Demand from Automotive Sector


Published Date : Jul 23, 2018

Albany, New York, July 23, 2018: The global circuit protection market is forecast to grow at a steady pace between 2017 and 2025. In the coming years, the market is expected to witness lucrative opportunities due to the rising demand from the automotive sector. MarketResearchReports.biz has added a report, titled “Circuit Protection Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” which presents a holistic study on the various factors enabling growth in the market. The report is intended to offer a detailed study on the competitive landscape, besides covering growth drivers and restraints across various segments in the global circuit protection market.

Evolution of technologies, coupled with the rising demand for safer driving, has created lucrative prospects for the circuit protection manufacturers in the automotive sector. Studies reveal that most, if not all, modern automobiles are in-built with electronic systems such as transmission electronics, driver assistance, technologies for enhanced passenger comfort, engine electronics, and infotainment systems to mention a few. In order to protect these electronic components, electrical wiring systems are installed in automobiles. This in turn fuels the demand for circuit breakers and fuses used in automobile engineering. Furthermore, the circuit protection market is expected to gain significantly from the rising demand for advanced circuit protection in automobiles.

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According to the study, miniaturization is a key trend that will fuel the demand for circuit protection across the world. Several companies are targeting to tap into this opportunity by producing extremely slip and compact versions of popular devices with extended battery life. However, a few of these may require charging which necessitates circuit protection to offer protection against blackouts and power fluctuations. Given the scenario, the increasing awareness about user safety has played a significant role in enabling growth in the circuit protection market. In addition to this, the market is expected to gain significantly from construction of smart cities and infrastructural development in various regions. Also, urbanization and industrialization in developing countries are likely to offer lucrative opportunities for growth to the market.

On the downside, the market players face certain technical challenges that are hindering their growth to an extent. Furthermore, the high cost of raw materials is expected to have a negative impact on the global circuit protection market.

Based on end use, the global circuit protection market can be segmented into electrical equipment, automotive, construction, energy, and others. On the basis of type, the market can be segmented into electrostatic discharge, overcurrent, and overvoltage. In the coming years, the demand for overcurrent protection is expected to rise considerably. In terms of device, the market can be categorized into circuit breakers, ESD protection, fuses, and surge protection devices.

Regionally, the global circuit protection market can be classified into Europe, North America, the Middle East and Africa, Asia Pacific, Europe, and South America. Among these regions, the demand from Asia Pacific is forecast to rise significantly during the course of the forecast period.

The report also profiles some of the leading players in the global circuit protection market. These include General Electric Company, ABB Ltd., Eaton Corp., Larsen & Toubro Ltd., Siemens AG, Schneider Electric SE, and others.

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