Thermal Magnetic Circuit Breakers Market to Reach USD 9,653 Million by 2028

Vantage Market Research

Nov 12, 2021

According to a new report by Vantage Market Research, the thermal-magnetic circuit breakers market is expected to reach USD 9,653 Million by 2028, growing at a CAGR of 7.2% from 2021 to 2028. Thermal magnetic circuit breakers play a vital role in motor control centers in protecting the motor from the heating effect and an increase in the demand for use in home appliances for thermal-magnetic circuit breakers is expected to fuel the market.

Key Findings:    

  • Under the product segment single-pole, thermal-magnetic circuit breakers sub-segment is projected to grow at a CAGR of over 9.8% over the forecast period owing to the increasing adoption in the manufacturing industry.
  • The application segment held a market share of around 29.26% in 2020. This share is due to the increasing process development in industrial sectors among countries such as China, India, and the U.S.
  • Asia Pacific is expected to expand at a CAGR of over 12.5% from 2021 to 2028. This surge is attributed to the rising demand for magnetic circuit breakers units installed in various instruments related to process equipment in the countries such as India, China, and Japan.

Some of the key players in the Thermal Magnetic Circuit Breakers Market include American Electrical, Rockwell Automation, E-T-A Circuit Breakers, GE Industrial, Carlingswitch, Cooper Bussmann, Carling Technologies, ABB, Eaton, Idec, Schneider Electric, Square D, Cliff Electronics, and among others.

Thermal attractive circuit breakers which use two parts to identify electrical flaws are the principal part of an electromagnet that detects huge problems in electrical flows. This essential electrical switch is a safety gadget intended to cut an electrical flow in case of a forced flood, hence shielding electrical hardware and electric breakdown from harm. Over-burden circuits, free or broken wiring, and lightning can make the electrical switch trip. The interest for this electrical circuit breaker is expanding for explicit reasons like engine safety, human security, and staying away from huge force disappointment which may hamper the gadget and furthermore dangerous for the laborers working in that territory. Consequently, the use and need of attractive electrical switches are fundamentally necessary. These elements are credited for the development of a warm attractive electrical switch market.

Asia Pacific region is poised to record the highest CAGR. This is attributable to the increasing demand in emerging economies, such as India and China, coupled with the expansion of industries like aerospace, automation, electronic and semiconductors, and others application in industries surge to grow in the region's overall Thermal Magnetic Circuit Breakers Market.