The global market for high voltage circuit breakers (HVCB) is slated to exhibit a moderate CAGR of 4.0% from 2016 to 2020, according to a report added to the massive database of MarketResearchReports.biz. The 243-page publication is titled “High Voltage Circuit Breakers Market, Update 2016 - Market Size, Competitive Landscape, Key Country Analysis And Forecasts To 2020” and offers a detailed analysis of the structure, scope, and performance of the worldwide market. The report finds that the high voltage circuit breakers market will reach US$2.52 bn by 2020, rising from a value of US$2.27 bn in 2015.
The report highlights the main factors driving and hampering the growth of the HVCBs market world over. According to the findings of the study, the market is fueled by the rising share of renewable sources in the energy mix, the increasing demand for electricity, which is in turn, upping investments in transmission and distribution infrastructure, the introduction of modular designs and compact sized circuits, a promising replacement market on account of aging existing equipment, and the need to upgrade current transmission and distribution infrastructure.
On the flip side, tough competition has resulted in immense pricing pressure, negatively affecting the market for high voltage circuit breakers. Other factors restricting the growth of this market include economic upheaval in many countries, volatile nature of the prices of raw materials, risk of global warming resulting from the use of SF6 in HVCBs, and frequent delays in power sector reforms.
From a regional perspective, the report covers the Americas, Asia Pacific, the Middle East and Africa, and Europe. Based on country, the market on high voltage circuit breakers offers an assessment on Canada, Germany, Saudi Arabia, India, Australia, the U.S., Brazil, the U.K., China, Japan, and the Republic of Korea. The findings of the report suggest that there are different factors working in favor of the HVCB market in emerging countries and that in developed countries. The high voltage circuit breakers market in Europe and North America is fueled by the rising need to upgrade the current aging grid interconnections and transmission networks. On the other hand, developing countries in the regions of South America, Asia Pacific, the Middle East, and Africa are primarily driven by the demand for improved access to electricity and the need to expand power plant capacities.
China is perhaps the most prominent and promising market for high voltage circuit breakers, accounting for a significant share in the global scenario. There are a host of opportunities available for manufacturers of HVCBs, especially since the power transmission and distribution sector has been receiving immense support from the national government. This can be attributed to the rising demand for electricity. Any growth in the power transmission sector in the country is anticipated to be beneficial to the high voltage circuit breakers market, analysts predict.
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