Source: ReportLinker

Source: ReportLinker

NEW YORK, March 13, 2023 /PRNewswire/ -- Major players in the circuit protection market are ABB Ltd., Siemens AG, Bel Fuse Inc., Schneider Electric SE, General Electric Company, Rockwell Automation Inc., Eaton Corporation PLC., Mitsubishi Electric Corporation, Larsen And Toubro Ltd., Texas Instruments Incorporated, NXP Semiconductors N.V., Alstom, Hitachi Ltd and Keko-Vericon.

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The global circuit protection market grew from $45.09 billion in 2022 to $50.89 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The circuit protection market is expected to grow to $82.4 billion in 2027 at a CAGR of 12.8%.

The circuit protection market consists of sales of fuse, circuit breaker, polyswitch, RCCB, metal oxide varistor, and gas discharge tube.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The circuit protection refers to the device that detects current or voltage and protects a circuit against overcurrent or overvoltage problems. To provide the maximum level of security, several protective devices are available on the market, including fuses, circuit breakers, RCCBs, gas discharge tubes, thyristors, and others.

North America was the largest region in the circuit protection market in 2022. The regions covered in circuit protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of circuit protection are overcurrent protection, electrostatic discharge (ESD) protection, and overvoltage protection.Overcurrent protection is a way of limiting or disabling current flow using hardware and other electrical components.

The device used is circuit breakers, fuses, ESD protection devices, and surge protection devices that are channelized into original equipment manufacturer (OEM), retail, and wholesale. There are various end-users to circuit protection such as automotive and transportation, electrical and electronics, energy, construction, industrial, and others.

The growing demand for smartphones, PCs, laptops, and tablets is expected to drive the growth of the circuit protection market.Circuit protection is used to protect a device from damage caused by excessive flow of current.

This situation can occur in electronic devices such as smartphones.By installing circuit protection, such a situation can be avoided.

In April 2021, according to the report published by Canalys, a market analyst firm, PC sales have remained stagnating for years due to the rise of smartphones.Over the last year, global shipments of desktops, laptops, and workstations have surged by 55%.

The raw numbers—82.7 million units—make it the company's highest first-quarter shipment order since 2012. Notebook and mobile workstation shipments have surged by 79% year over year to 67.8 million units. Therefore, the rising demand for smartphones, PCs, and tablets drives the circuit protection market.

Product launch shaping the circuit protection market.Companies are creating new and advanced products to satisfy market needs.

In February 2020, Bel Fuse Inc., a US-based company launched the OZCM series. Bel Fuse is now the only vendor having 10mA, 20mA, and 30mA solutions in a compact, AEC-Q-compliant form factor. The series has a 50mA to 200mA operating range, a maximum current of 40 A, a maximum voltage of 9-15 V DC, and a temperature range of -40 °C to 85 °C. The 0ZCM Series provides the low DCR resistance and quick trip time required for current automobile applications. It's ideal for gaming console ports, PDAs and digital cameras, disc drives, streaming devices, CD-ROMs, and other USB peripherals, as well as motherboard plug and play protection.

In April 2022, Littelfuse, Inc., a US-based electronic manufacturing company acquired C&K Switches for $540 million. This acquisition would increases growth across a wide range of end markets for Littlefuse Inc. C&K Switches is a US-based manufacturer of circuit protection and circuit breaker components.

The countries covered in the circuit protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The circuit protection market research report is one of a series of new reports that provides circuit protection market statistics, including circuit protection industry global market size, regional shares, competitors with a circuit protection market share, detailed circuit protection market segments, market trends and opportunities, and any further data you may need to thrive in the circuit protection industry. This circuit protection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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