Global Circuit Breaker Market will record a sizeable valuation by 2032. The rapid expansion of smart grid infrastructure is the major driver behind industry growth. According to the U.S. DOE, the Smart Grid Grant Program will invest up to USD 3 billion (USD 600 million every year from 2022 to 2026) in grid resilience solutions. In August 2022, the U.S. government also announced a USD 10.5 billion investment to strengthen the electric grid in the country.

The overall circuit breaker market is segmented based on voltage, rated voltage, rated current, installation, application, end-use, and region.

Regarding voltage, the market is categorized into high, medium, and low. High voltage circuit breaker market size will expand considerably through 2032. Increasing installation of these circuit breakers in commercial and industrial establishments will create a broad scope for segment growth. Moreover, the rapidly expanding transmission and distribution (T&D) networks will further contribute to product uptake. In November 2022, the U.S. government made a USD 13 billion investment to develop America’s power grid.

Based on installation, the industry is bifurcated into indoor and outdoor. The circuit breaker market share from the indoor segment could be worth over USD 19 billion by 2032. Growing space constraints coupled with heavy R&D investments focused on developing compact devices have increased indoor installation of circuit breakers. Additionally, these devices are easier to operate and demonstrate enhanced safety which favors their adoption. Moreover, huge investments in commercial and residential construction will further contribute to segment growth.

With respect to end-use, the industry is classified into industrial, commercial, residential, and utility. The circuit breaker industry size from the industrial segment will amass lucrative gains through 2032. Increasing investment by the government to develop large education premises in developing nations such as India and China will contribute to segment growth. Moreover, ongoing product innovations have further increased the demand for circuit breakers in these facilities.

Regionally, the Asia Pacific circuit breaker industry size was valued at over USD 8 billion in 2022. Growing demand for efficient Transmission & Distribution (T&D) systems will streamline regional expansion. As per IBEF, the Central Electricity Authority of India projected that the country’s power requirement could reach 817 GW by 2030. Moreover, regional growth can also be credited to increasing investments by the government in energy infrastructure.