The demand of circuit breakers in India is currently being driven by several factors. The improvement of electricity infrastructure across both urban and rural regions, replacement of old electrical systems with smart grids and emergence of non-conventional energy sources have increased the adoption of circuit breakers in the country. Moreover, catalysed by increasing economic growth and rising population, the demand of electricity has been increasing continuously in the country. Moreover, public and private expenditure towards the construction of power, sewage or water supply infrastructure have further promoted the spending on electrical infrastructure, thereby catalysing the growth of the circuit breaker industry. Other major factors driving the market include rising urbanization rates, new application areas, increasing government support, etc.
A circuit breaker is an automatically operated electrical switch designed to protect an electrical circuit from damage caused by excess current from an overload or short circuit. Its basic function is to interrupt current flow after a fault is detected. A Miniature Circuit Breaker (MCB) is an automatically operated electrical switch used to protect low voltage electrical circuits from damage caused by excess current from an overload or short circuit. MCBs are typically rated up to a current up to 125 A, do not have adjustable trip characteristics, and can be thermal or thermal-magnetic in operation. It automatically switches off the electrical circuit during the abnormal conditions of the network (both overload and fault conditions). The MCB is much more reliable in the detection of such conditions, is it is more sensitive to change in current.
The global circuit breaker market size is projected to reach INR 56000.77 Crores by 2025, at a CAGR of 5.9%, from an estimated INR 41500.11 Crores in 2020. The key drivers for the market include growing investments in power generation, specifically from renewable energy sources; rising demand for reliable and secure power supply worldwide; increasing capacity additions and enhancements for T&D networks; and accelerating investments in railways sectors. India circuit breaker market is currently exhibiting strong growth. A circuit breaker is a switching device which interrupts the abnormal or faulty current and performs the function of a switch. It is basically designed for closing and opening of an electrical circuit, thus protecting the electrical system from damage. Its basic function is to interrupt current flow when fluctuations are detected. A major benefit of a circuit breaker is its usefulness in low-, medium-, and high-voltage applications. As a result, circuit breakers are being widely used across various industries such as construction, locomotive, transportation, etc.
The market for circuit breaker is expected to witness a drop in 2020, resulting from the outbreak of COVID-19. The COVID-19 pandemic has negatively impacted the power industry globally for the past few months. The demand curve for electricity has taken up new shapes, mainly in those countries where the impact of the pandemic is high. The decreasing demand for electricity is caused by lockdowns across countries to mitigate the spread of the virus, which is likely to create a negative impact on the overall market. Furthermore, the investments for grid modernization are also expected to slow down during the period.
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