United States Circuit Breaker Market Size Worth US$ 3.0 Billion by 2027, at 5.9% CAGR

SHERIDAN, WYOMING, UNITED STATES, November 17, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “United States Circuit Breaker Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the United States circuit breaker market size reached US$ 2.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2027, exhibiting a growth rate (CAGR) of 5.9% during 2022-2027. A circuit breaker is a switch that can be operated manually or automatically to protect and control an electric power system. It assists in managing, regulating, and mastering electric power efficiently. It is designed to prevent fluctuations in the current flow and protect other devices attached to the circuit. It is available in numerous sizes ranging from small devices that protect low-current circuits to large switchgear, which protects high-voltage circuits. It is widely deployed in small and medium substations, high voltage transmission, railway systems, and distribution lines.

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Market Demand:

The market in the United States is primarily driven by extensive development in the sustainable power area. In line with this, the main interest in supplanting maturing power foundations and rapid industrialization in space is positively influencing the demand for circuit breakers. Furthermore, the rising utilization of IoT-based circuit breakers is catalyzing the market. Apart from this, numerous government initiatives to invest in smart energy infrastructure through smart grids and smart meters are creating a positive outlook for the market. Moreover, the need to update the existing power grids and the growing advancements in the power sector are offering numerous growth opportunities in the market. Besides this, the adoption of electrical switching devices for the safe and reliable operation of gadgets is significantly driving the demand for infrastructure projects globally. This, in turn, is expected to strengthen the circuit breaker market. Additionally, rapid urbanization resulting in improvements in the electricity infrastructure and power supply to rural areas is anticipated to boost the growth of the circuit breaker market.

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Key Segmentation:

Breakup by Product Type:

• Indoor Circuit Breakers
• Outdoor Circuit Breakers

Breakup by Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

Breakup by Technology:

• Air
• Vacuum
• Oil
• SF6

Breakup by End-Use:

• Transmission and Distribution
• Renewable
• Power Generation
• Railways

Breakup by Region:

• Northeast
• Midwest
• South
• West

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

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IMARC Services Private Limited
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