The global circuit breaker market size reached USD 9.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 12.1 Billion by 2033, exhibiting a growth rate (CAGR) of 2.8% during 2025-2033. The rising demand for renewable energy sources, increasing installation of circuit breakers in utilities and power plants, and the rapid utilization of electrical appliances in households represent some of the key factors driving the market.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 9.2 Billion |
Market Forecast in 2033
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USD 12.1 Billion |
Market Growth Rate 2025-2033 | 2.8% |
Rising investment in the industrial sector
Increased investments in the industrial sector, as well as increased investment to leverage industrial infrastructure, drive up global demand for electrical switching devices. These devices are mostly utilized in industrial and commercial settings. According to the World Investment Report 2021, Asia-Pacific received USD 535 billion in foreign direct investment (FDI) in 2020, primarily from China and Singapore. As a result, increased industrial investment necessitates the deployment of these devices in a variety of end-use and manufacturing industries. This, in turn, is resulting in an increasing circuit breaker market share.
Rapid infrastructure development
The growing global building of infrastructure, including residential, commercial, government, and industrial infrastructures, as a result of rising population, urbanization, and industrialization, is necessitating the use of circuit breaker systems. For example, the World Bank estimates that the value added to the industrial sector, including construction, will increase from USD 23.47 trillion in 2019 to USD 27.76 trillion in 2022, having a significant impact on infrastructure expansion. Circuit breakers are required in infrastructure to maintain operational safety and efficiency by disconnecting electrical circuits in the event of overloads or faults, preventing equipment damage and reducing the risk of electrical fires. Also, the integration of smart technology and the Internet of Things (IoT) into infrastructure projects enhances the requirement for the installation of advanced circuit protection solutions, thereby bolstering the circuit breaker market growth.
Increasing adoption of electrical safety regulations
Circuit breakers are now essential components of electrical systems in homes, businesses, factories, and large-scale power grids. Due to the rapid growth of urban areas and modernization, electrical switches are installed in every residential, commercial, and other building to keep up with the changing times, making them a crucial component of all structures. Regular revisions involve closely following test procedure compliance for circuit breakers and switchgear in electrical power distribution systems. Certain heavy load equipment necessitates the use of separate circuit breakers to ensure safe and dependable functioning. This regulatory situation has had a positive impact on the circuit breaker demand.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2025-2033. Our report has categorized the market based on product type, voltage, technology, and end use.
Breakup by Product Type:
Outdoor circuit breakers dominate the market
The report has provided a detailed breakup and analysis of the market based on the product type. This includes indoor and outdoor circuit breakers. According to the report, outdoor circuit breakers represented the largest segment.
Outdoor circuit breakers are playing an important role in creating a positive circuit breaker market outlook. The majority of the installed breakers are electrical switches that function automatically outdoors. They are utilized in switchgear assemblies, which are primarily utilized outside for large-scale utility applications. Outdoor breakers are not always necessary for industrial machinery and equipment. Due to their vital roles in outside electrical distribution networks, outdoor circuit breakers are driving the circuit breaker market. These breakers are made especially to survive hard climatic factors including high humidity, low temperatures, and exposure to components like dust and rain. This, in turn, is expected to contribute to the market growth in the circuit breaker market forecast period.
Breakup by Voltage:
High voltage holds the largest share in the market
A detailed breakup and analysis of the market based on the voltage have also been provided in the report. This includes low voltage, medium voltage, and high voltage. According to the report, high voltage accounted for the largest market share.
High voltage automatically operated electrical switches are infrequently utilized in certain industries and are mostly seen in utility-scale applications. The increasing development of electrical technology has led to the growing popularity of these breakers, thereby expanding the circuit breaker industry. The introduction of high voltage DC cables has led to an increase in the market size for high voltage breakers. The continuous improvements in infrastructure and global power generation and distribution network expansions are favorable to the market for these breakers. Advanced high voltage circuit breakers are expected to remain in high demand as utilities and industry work to find more sustainable and efficient energy solutions.
Breakup by Technology:
Air holds the maximum share in the market
A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes air, vacuum, oil, and SF6. According to the report, air accounted for the largest market share.
According to the circuit breaker market research report, air is dominating the market. Innovations in air technology has greatly impacted the circuit breaker market, by improving safety and efficiency in electrical systems. Nowadays, barometric breakers have changed to be more dependable and equipped for higher loads, thus being essential for industrial use as well as for urban infrastructure. These are essential gadgets that help to protect electric circuits from over-voltage or short-circuits which could cause potential disruption of power flow without endangering human beings’ lives. Having a strong build, they can be used when different industries produce goods and services in almost all areas like commerce among others. As demand increases for sustainable and efficient energy solutions, air technology continues to be the force behind innovative approaches in the circuit breaker field.
Breakup by End-Use:
Transmission and distribution hold the maximum share in the market
A detailed breakup and analysis of the market based on the end-use have also been provided in the report. This includes transmission and distribution, renewable, power generation, and railways. According to the report, transmission and distribution accounted for the largest market share.
The transmission and distribution sector is pivotal in driving the circuit breaker market due to increasing global electrification and infrastructure upgrades. As nations expand their power grids and integrate renewable energy sources, the demand for reliable circuit protection grows. Circuit breakers play a crucial role in safeguarding equipment and managing power flow, thereby ensuring uninterrupted electricity supply to homes, industries, and commercial establishments. Additionally, advancements in smart grid technologies and the need for enhanced grid resilience further propel the adoption of advanced circuit breakers capable of handling higher voltages and frequencies.
Breakup by Region:
Asia Pacific leads the market, accounting for the largest circuit breaker market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for circuit breaker.
Asia-Pacific is the largest global circuit breaker market revenue shareholder and is expected to expand during the projection period. The expansion in population in growing economies like as India and China has increased electrical demand, resulting in a higher requirement for circuit breakers in the Asia-Pacific area. Furthermore, the replacement of aging grid infrastructure is driving growth in the circuit breaker industry. According to the International Renewable Energy Agency, China and India are among the top five renewable energy producers in the world, which fuels industry growth. Furthermore, the increased connectivity of renewable energy with grid infrastructure drives the expansion of the market.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
The market is highly fragmented and involves several major circuit breaker market companies. These companies are investing heavily in research and development of new products to improve their market share. They are developing new products to expand their customer reach and increase their sales. For instance, on March 1st, 2024, Siemens developed the world's first solid-state, high-power circuit protection device based on electronic switching in March 2024. The Sentron ECPD (Electronic Circuit Protection Device) trips the downstream mechanical isolating contact and electrically cuts off the circuit when an error occurs, if necessary. The majority of disconnections have been made using electro-mechanical components.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Product Types Covered | Indoor Circuit Breakers, Outdoor Circuit Breakers |
Voltages Covered | Low Voltage, Medium Voltage, High Voltage |
Technologies Covered | Air, Vacuum, Oil, SF6 |
End Uses Covered | Transmission and Distribution, Renewable, Power Generation, Railways |
Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Companies Covered | ABB Ltd, Alstom Holdings, Eaton Corporation plc, General Electric Company, Mitsubishi Electric Power Products, INC., Schneider Electric, Siemens, Camsco Electric Co., Ltd, G&W Electric, Kirloskar Electric Co. Ltd., Larsen & Toubro Limited, Powell Industries Inc., Schurter Holding AG, Sensata Technologies, Inc., Toshiba Corporation, etc. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global circuit breaker market was valued at USD 9.2 Billion in 2024.
We expect the global circuit breaker market to exhibit a CAGR of 2.8% during 2025-2033.
The growing installation of energy-efficient systems to ensure electrical safety and minimize wastage, along with the increasing upgradation requirements for the existing electrical transmission networks, are currently driving the global circuit breaker market growth.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of various operational units in numerous end-use industries and supply chain disruptions of circuit breaker.
Based on the product type, the global circuit breaker market has been segregated into indoor and outdoor circuit breakers. Currently, outdoor circuit breakers exhibit a clear dominance in the market.
Based on the voltage, the global circuit breaker market can be divided into low, medium, and high. Among these, high voltage circuit breakers currently account for the majority of the total market share.
Based on the technology, the global circuit breaker market has been segmented into air, vacuum, oil, and SF6. Among these, air circuit breakers currently exhibit a clear dominance in the market.
Based on the end use, the global circuit breaker market can be bifurcated into transmission and distribution, renewable, power generation, and railways. Currently, the transmission and distribution industry holds the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global circuit breaker market include ABB Group, Alstom SA, Eaton Corporation Inc., General Electric Company, Mitsubishi Electric Power Products, Inc., Schneider Electric, Siemens AG, Camsco Electric Co. Ltd., G&W Electric Co., Kirloskar Electric Co. Ltd., Larsen & Toubro Limited, Powell Industries Inc., SCHURTER Holding AG, Sensata Technologies Inc., and Toshiba.