By 2024, the global circuit breaker market will exceed US $13 billion 500 million.

Promulgator : TAIXIDate : 2018-04-29Views : 133

According to Global Market Insights, a market research firm, the global Circuit Breaker market is expected to exceed US $13 billion 500 million by 2024.

The growth of demand for modular and integrated substations by commercial and industrial end users will stimulate the growth of the global circuit breaker Market in the forecast period. In 2016, SIEMENS seized the $12 million 400 thousand contract of Qatar to provide integrated electronic housing substations for large projects in Harad harbour.

Many green corridor projects, which are used to export renewable energy to the national grid, will have a positive impact on the industry. In 2014, Power Grid Corporation of India (PGCIL) announced that it would invest more than 7 billion US dollars to promote the integration of clean energy plants with national and state power grids.

Public utilities and other private participants will increase investment in the traditional transmission infrastructure reform, which will expand the benefits of the global circuit breaker market. In 2015, the Chinese government announced that it would invest $315 billion in the next five years to complete the renovation of the power grid infrastructure. The rural electrification plan designed by China, India, South Africa and Nigeria will further affect the market prospect.

In 2015, the market value of low voltage Circuit Breaker exceeded US $1 billion. The strong investment prospects for deploying new low-voltage substations and Stabilizer in remote areas will expand the scale of the industry. Due to the high dielectric strength and high efficiency of arc extinction, Stabilizer is expected to witness a significant increase.

The U.S. market share of the Circuit Breaker is expected to exceed 7%. Government plans to strengthen the security of existing grid infrastructure, coupled with the deployment of new HVDC lines for long distance power transmission, will promote the growth of the US market.

In the European circuit breaker market, the UK's revenue in 2015 exceeded 140 million dollars. Investment in developing new smart grid infrastructure will expand the industry outlook.

By 2024, China's circuit breaker market will exceed US $2 billion. China's township electrification projects and rural electrification projects in China will provide a large number of renewable energy projects to households, which will promote the development of the Chinese market.

By 2024, the India circuit breaker market is expected to grow by more than 8%. "One country, one grid, one price" and other initiatives will expand the market scale.

In 2015, Saudi Arabia's market revenue was over $100 million, and the increase in demand for modularized and integrated substations on remote offshore oil and gas drilling areas would help to stimulate the market demand for circuit breakers and Stabilizer.

By 2024, the market size of Brazil circuit breakers is expected to exceed US $450 million. Renewable energy and grid connected to the State Grid and the state power grid will expand the market demand.