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San Francisco, September 21, 2021 /PRNewswire/ - A new report from Grand View Research shows that by 2028, the global circuit protection market is expected to reach 71.64 billion U.S. dollars, with a compound annual growth rate from 2021 to 2028 It is 6.7%. The, Inc. market is expected to benefit from the increasing demand to upgrade transmission and distribution networks and establish renewable energy connections. The increasing demand for advanced circuit protection equipment in the automotive, electronics, and telecommunications industries can be attributed to the increasing safety issues related to damage caused by short circuits and power fluctuations.
Read the 300-page market research report, "Circuit protection market size, product sharing and trend analysis reports (HD Pro, circuit breakers, fuses, GFCI, inrush current limiters), forecast by application, by channel, by region and market segment , 2021-2028", Grand View Research
Increasing power supply in developing countries, increasing building and infrastructure development activities, and more and more renewable energy power generation projects are also driving market growth. In addition, in the automotive industry, with the continuous increase in the number of vehicles on the road, the continuous urbanization process and passengers' high attention to safety and security are driving the adoption of circuit protection devices.
The continuous growth of the world’s population, sustained economic growth and rapid urbanization have triggered an increase in global electricity demand. Continued industrialization and urbanization are leading to an increase in the demand for energy in developing countries. The United Nations (UN) predicts that the world's population will grow from 7.6 billion in 2017 to 9.7 billion in 2050. It is expected that power demand will also increase with the increase in household income levels, the continued electrification of the transportation sector, and the ever-increasing demand for air-conditioning as the temperature rises and digitally connected devices proliferate. In addition, the growing demand for additional power generation capacity can open up new opportunities for market growth during the forecast period.
Grand View Research has segmented the global circuit protection market based on products, applications, channels and regions:
List of Circuit Protection Market Participants
Check out more circuit-related research conducted by Grand View Research:
View Grand View Research's coverage of the global electronic equipment industry
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Grand View Research is a US-based market research and consulting company that provides joint and customized research reports and consulting services. The company is registered in California, is headquartered in San Francisco, has more than 425 analysts and consultants, and adds more than 1,200 market research reports to its huge database every year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and well-known academic institutions understand the global and regional business environment and seize future opportunities.
Sherry James Enterprise Sales Specialist, Grand View Research, Inc., USA Tel: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [Email Protection] Website: https://www.grandviewresearch. com us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.
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