Global Residual Current Circuit Breaker Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. A residual-current device (RCD) or residual-current circuit breaker (RCCB) or ground fault circuit interrupter (GFCI) is an electrical safety device that quickly breaks an electrical circuit with leakage current to the ground. It is to protect equipment and to reduce the risk of serious harm from an ongoing electric shock. The growing investments in large-scale renewables and solar energy resources and expanding industrial production has led to the adoption of Residual Current Circuit Breaker across the forecast period. For Instance: According to the statistics availed by the World BankThe NTPC is expected to commission India’s largest floating solar power plant in Ramagundam, Telangana by May-June 2022. The expected total installed capacity is 447MW. In March 2021, the US Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) reported a loan guarantee programme worth US$ 41 million to support Indian SME investments in renewable energy. Also, with the technological advancements, the adoption & demand for Residual Current Circuit Breaker is likely to increase the market growth during the forecast period. However, lack of skilled professionals impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Residual Current Circuit Breaker Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the massive investments in large-scale renewables and solar energy resources will lead to capacity expansion for clean energy. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2022-2028. Factors such as an increase in the construction of renewable electricity generation power plants would create lucrative growth prospects for the Residual Current Circuit Breaker market across Asia-Pacific region.
Major market players included in this report are:
Rockwell Automation Inc
Honeywell International Inc.
Havells India Ltd.
HPL Electric & Power Limited
Larsen & Toubro Limited.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Power Input:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Residual Current Circuit Breaker Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers