Europe market will gain escalation subject to the stringent energy efficiency mandates along with rising share of sustainable electricity networks. Regulators with an aim to institute a potent energy mechanism have been channelizing funds to befit their networks for effective electricity generation & supply. European Union’s policy objectives comprehend, investment & restructuring of the existing grid infrastructure to integrate renewable resources and sustain the leap in energy demand. —
Global Circuit Breakers Market will exceed USD 21 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Affirmative regulatory mandates toward the development of cross border electric infrastructure to sustain the rising demand for the refurbishment of ageing transmission network will foster the circuit breaker market. Favorable policy interventions coupled with positive sectoral amendments supported by rapid economic escalation have further instigated the overall energy industry. Aggregate technical & commercial (AT&C) coagulated by accruing circuit losses, result in deficiency in terms of revenue & energy realization which in turn will complement the integration of effective transmission & distribution components.
> 550 kV units in the current industrial scenario, have gained an upsurge subject to the ongoing expansion of ultra-high-tension (UHT) electric networks to endure losses accumulated from long-distance power supply. Advance product specifications, curtailment ability for over-currents, cost along with ease of installation are essential factors driving the product penetration. Regulatory inclination towards the deployment of HVDC transmission infrastructure to meet cross-border demand for electricity will further complement the circuit breaker market outlook.
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> 4,500 Ampere circuit breaker market will exceed an annual installation of 1 million units by 2024. Large scale industrial expansion along with product viability across utility deployed transmission & distribution lines will positively sway the industry dynamics. These units behold significant installations across inter-state and cross border transmission networks exhibiting comparatively higher ampacity with an aim to ensure network & operational security across the regional grid infrastructure.
The circuit breaker market in the recent years has gained impetus with an influx of advanced, flexible, and secure product specifications. Although the manufacturers and suppliers have consistently been streamlining their R&D investments to expand and enhance product portfolios, fresh investments from leading participants to incorporate a versatile technological platform has been a considerable breakthrough. In addition, favorable consumer tendencies toward the deployment of the products with an aim to safeguard the operational environment along with enhancing the life expectancy of the electric network have further added to the industry advantage.
Electric protection equipment’s in the current industrial regime have gained prominence subject to their product versatility and diverse applicability across power distribution networks. These products have gained penetration across a pool of applications hovering from small residential electricity networks to large utility-aided distribution infrastructure. With increasing adoption, manufacturers and industry participants have aligned their focus on the development and sustainable distribution of the products. Favorable consumer tendencies and product versatility favored by cost-effective product configurations will fuel the global market potential.
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Eminent players across the global market comprise of Schneider Electric, Eaton, ABB, Mitsubishi, Toshiba, Mersen S.A, Hitachi, Crompton Greaves, Siemens, Powell Industries, Fuji Electric, Meidensha, Hubbell, TE Connectivity, L&T, and BEL Fuse.
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 452447