The increasing demand of commercial and industrial end users for modular and integrated substations will stimulate the growth of the global circuit breaker Market in the forecast period.
The increased investment of public utilities and other private participants in the reform of traditional transmission network infrastructure will expand the benefits of the global circuit breaker market.
The market share of circuit breakers in the United States is expected to exceed 7%. The government’s plan to enhance the security of existing grid infrastructure, together with the deployment of new HVDC lines for long-distance power transmission, will promote the growth of the US market.
In the European circuit breaker market, investment in the development of new smart grid infrastructure will expand the industry prospect.
By 2024, China’s circuit breaker market will exceed US $2 billion. China’s township electrification project, China’s rural electrification project and many other projects that provide renewable energy to households will promote the development of the Chinese market.
By 2024, the Indian circuit breaker market is expected to grow by more than 8%. “One country, one power grid, one price” and other initiatives will expand the market scale.
By 2024, the market size of circuit breakers in Brazil is expected to exceed 450 million US dollars. The grid connection of renewable energy power generation to the State Grid and the State Grid will expand market demand.
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Post time: Oct-13-2022
