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Amid the COVID-19 crisis, the global market for DC Circuit Breakers estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$3.2 Billion by 2027, growing at a CAGR of 5.4% over the period 2020-2027.
Medium, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the High segment is readjusted to a revised 4.9% CAGR for the next 7-year period.
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Powell Industries Announces Date And Conference Call For Fiscal 2021 Second Quarter Results
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The global circuit breaker market is projected to reach US$8.196 billion by 2026, at a CAGR of 6.08%, from an estimated US$5.422 billion in 2019.
The market is expected to be driven by the increasing projects of renewable energy, efficient energy infrastructure and increasing developmental projects, as they are in turn increasing the demand for the electricity consumption (especially in developing countries). Rapid industrialization and urbanization in the countries along with the use of the sustainable energy sources (renewable energy) caters the increase in demand for power consumption in the economies, which in turn is increasing the demand for the circuit breakers in the upcoming years. Though, intense competition from the gray market and stringent environmental and safety regulations are impacting the market.