Circuit Breaker Market Regional Analysis:
APAC Market Insights
Circuit breaker market share in Asia Pacific is predicted to be the greatest among all other regions, with a share of approximately 37% by the end of 2035. The growth of the market can be attributed majorly to the growing infrastructural development which will increase the demand for various circuit breakers. As of May 2023, in China, there were around 40,000 tens of thousand square meters of housing, which further increases to nearly 50,000 tens of thousands of square meters in June 2023. Furthermore, growing initiatives for the redevelopment of transmission lines. The Indian government announced a plan worth USD 29 billion to connect renewable energy by building transmission lines by 2030.
North American Market Insights
The circuit breaker market in North America is expected to be the second largest, with a share of around 25% by the end of 2035. The growth of the market can be attributed majorly to the industrial growth in the region. The region's industrial sector, which includes manufacturing, oil and gas, mining, and other industries, demands reliable electrical distribution and protection solutions. In 2022, overall petroleum output in the United States was estimated to be at 19.988 million barrels per day (b/d), with crude oil accounting for 11.883 million b/d and the rest being hydrocarbon gas liquids.
