An Incisive, In-depth Analysis on the Residual Current Circuit Breaker Market
This study offers a comprehensive, 360 degree analysis on the Residual Current Circuit Breaker market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Residual Current Circuit Breaker market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The report covers comprehensive information about residual current circuit breakers market dynamics, volume (‘000 Units) and value (US$ Mn) projections, recent developments and competition landscape for the study period 2018 to 2028.
The global residual current circuit breakers market is expected to reach over US$ 3,411.6 Mn by the end of the forecast period, registering a CAGR of 6.7%. According to the analysis, the demand for residual current circuit breakers is expected to keep increasing over the years. Huge investments in large-scale renewables and solar will lead to capacity expansion for clean-energy or clean coal technology over the next few years, which is expected to reinforce the global residual current circuit breakers market during the forecast period.
By Product Type, Type AC and Type A are Expected to Dominate the Market
Aging electricity transmission infrastructure in developed regions will DEMAND new installations to enable better failure detection. Technological advancements and replacement of aging power infrastructure in developed regions is one of the key factors driving the residual current circuit breakers demand in the global market.
In terms of volume, Type AC segment is set to dominate the residual current circuit breakers market by the end of 2028. Type B and Type B+ segments are expected to lose 30 BPS and 90 BPS, respectively, over the forecast period. In terms of growth, Type A will remain one of the most attractive segments in the residual current circuit breakers market. This is due to the fact that Type A RCCBs provide additional protection to Type AC as they are sensitive to alternative comments.
Rising Residential Projects to Support the Growth of the Global Market
Housing recovery and new construction are cited to drive the commercial and residential construction sector. This in turn, is expected to drive the demand for residual current circuit breakers over the projected period.
The predominant use of residual current circuit breakers in residential sector is to guard a low voltage circuit from faults. Residential segment - one of the key end use areas of residual current circuit breakers -- represents nearly 45.3% of the total sales volume of residual current circuit breakers. The segment is expected to witness a market value growth rate of 7.5% over the study period. End uses, such as commercial and industrial, are set to experience robust CAGRs of 6.5% and 5.8%, respectively, during the forecast period.
In addition, residential and industrial segments are collectively expected to account for more than 83.4% share in the total incremental $ opportunity created in the global Residual Current Circuit Breakers market during the forecast period. Moderate product substitutability of residual current circuit breakers is one of the key features increasing the utilization of residual current circuit breakers across the globe.
Western Europe and North America to Propel Future Demand
Relatively stable economic conditions, increasing industrial production and consistent growth in construction industry are the key factors expected to drive the growth in the demand for residual current circuit breakers in North America and Europe. North America is expected to dominate the global residual current circuit breakers market, in terms of value and volume, during the forecast period. China and India are expected to gain traction over the forecast period as a consequence of the anticipated surge in the performance of manufacturing and commercial sectors, whereas all the other regions are expected to exhibit moderate growth during the same period.
Japan and Eastern Europe are expected to lose market value share, owing to the increase in the production of residual current circuit breakers in SEAP and India. Japan and Eastern Europe are projected to register 5.1% and 5.7% CAGRs, respectively, by value, which is lower than the collective growth of all the other regions. Additionally, the China market is anticipated to outpace the Western Europe market by the end of 2028.
Residual Current Circuit Breakers Market – Competitive Landscape
According to our analysis, the global residual current circuit breakers market is primarily consolidated, with a single market player holding a significant double digit market share as of 2017. In the global residual current circuit breakers market, the top 8 players collectively account for between 47% and 53% of the market share.
In the recent past, the Residual Current Circuit Breakers market has witnessed significant developments from a competition perspective. Acquisitions and expansion of manufacturing facilities are some of the key preferred strategies opted by key players to sustain and enter in the global Residual Current Circuit Breakers market.
In July 2018, ABB completed the acquisition of GE industrial solutions. This development is expected to enhance the company's electrification business segment, thereby contributing towards the revenue generated by ABB’s residual current circuit breakers, which in turn, is anticipated to strengthen the company’s position in electrification market
Prominent players covered in this market include ABB, Siemens AG, Schneider Electric, Honeywell International Inc., Eaton, Havells India Ltd., Hager Group, HPL Electric & Power Limited, Rockwell Automation, Inc., Gewiss S.p.A. and Legrand, among others.
Key Questions Answered in the Report
How has the Residual Current Circuit Breakers market evolved over the past five years?
What shape will the Residual Current Circuit Breakers market take, in terms of volume and value, during the study period?
What are some of the prevailing market dynamics in the Residual Current Circuit Breakers market?
What are some of the important competition developments and trends in the Residual Current Circuit Breakers market?
What are underlying macro-economic and industry factors impacting the growth of the Residual Current Circuit Breakers market?
Which are the key challenges, opportunities and improvement factors for market players?
What are the market positioning and key strategies of key manufacturers as per the market taxonomy?
How is the competition structured in the Residual Current Circuit Breakers market and how has it evolved over the past few years?
Residual Current Circuit Breakers Market: Report Description
This FMI study offers a ten-year analysis and forecast of the global residual current circuit breakers market for the period between 2018 and 2028. This study on the residual current circuit breakers market considers 2017 as the base year with market values estimated for 2018 and a forecast developed for the duration of 2018 to 2028. The Compound Average Growth Rate (CAGR) in terms of both value and volume is represented from 2018 to 2028.
The residual current circuit breakers market study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner. As per the findings of the residual current circuit breakers market study and perspectives of industry participants, the global residual current circuit breakers market is projected to grow at a CAGR of 6.7% between 2018 and 2028 in terms of value. Investments in large-scale renewable and solar energy are set to witness strong growth in terms of capacity as compared to any other clean-energy technology in the next few years, which is expected to reinforce the outlook of the global residual current circuit breakers market.
The Future Market Insights report on residual current circuit breakers carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters, such as application and source type. The primary objective of the report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rates and other relevant information and statistics in a suitable manner to the readers or various stakeholders of the market.
Residual current circuit breakers are low-voltage circuit breakers essential for residential, commercial and industrial distribution boards in case of electric fault or current leakage. They comprise automatic switches that self-trigger during the occurrence of a fault in the connection circuit. The aim of residual current circuit breakers is to protect an individual from electric shocks or fire due to arc fault. Residual current circuit breakers trip the circuit in case of earth fault current and offer an extremely effective solution for circuit connection in residential, commercial, and industrial sectors.
Each section of the report is structured to facilitate the reader to develop a thorough understanding of the dynamics and behaviour of the market. It begins with market definitions, followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section covers a qualitative and quantitative assessment of the market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews with the key stakeholders and trends in the market.
Residual Current Circuit Breakers Market: Segmentation
The residual current circuit breakers market report starts with a market introduction, market taxonomy and product definitions regarding the global residual current circuit breakers market assessment. In the next section, the report describes the market development background, covering macro-economic factors, industry factors, forecast factors, global weighted average pricing analysis, value chain overview covering approximate margins and an assessment of the production of residual current circuit breakers for the base year considered for the study. Additionally, import and export data target countries for the residual current circuit breakers market from 2013 to 2017 have also been presented in the report.
The next section of the report discusses market dynamics such as drivers (supply and demand side), restraints and trends impacting the market growth at a global level. Market opportunities or potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global residual current circuit breakers market at a qualitative level based on analysis facts and insights.
In the following sections of the report, market value (US$ Mn) and volume (in ‘000 Units) projections for the residual current circuit breakers market on the basis of the aforementioned segments at a global level. The global residual current circuit breakers market values represented in these section have been agglomerated by collecting data and information at a regional level. Residual current circuit breakers market information, along with key facts and insights, covers unique analysis frameworks, such as absolute $ opportunity analysis and attractiveness analysis for each of the segments.
The next section of the report presents a summarised view of the global residual current circuit breakers market based on nine prominent regions with market numbers represented for key countries considered in the study. The section includes the regional market position, growth potential, trends and market attractiveness analysis for each of these regions. The market analysis sections cover regional trends and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyse the degree to which the global drivers are influencing the market in each region.
Aforementioned sections gauge the contemporary market scenario and growth prospects in the global residual current circuit breakers market, while the forecast presented in the sections assesses the market size in terms of volume and value.
In order to offer an accurate forecast, we started by sizing the current residual current circuit breakers market, which forms the basis of how the global residual current circuit breakers market is expected to shape in the future. Given the characteristics of the residual current circuit breakers market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research and FMI analysis. However, forecasting the market in terms of various segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecasting exercise.
In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyse the residual current circuit breakers market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the residual current circuit breakers market and identify the right opportunities available for value chain participants.
As previously discussed, the residual current circuit breakers market has been split into two segments. These segments viz. by application and source type have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the residual current circuit breakers market growth. This detailed level of information is important for the identification of various key trends witnessed in the residual current circuit breakers market.
Another crucial feature included in the FMI’s comprehensive report is the analysis of all the key segments in the residual current circuit breakers market and the regional adoption, along with the revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve in the residual current circuit breakers market.
In order to understand the key residual current circuit breakers market segments in terms of the growth and consumption of residual current circuit breakers across concerned regions, Future Market Insights has developed an attractiveness index, which will help providers identify real market opportunities in the residual current circuit breakers market.
In the final section of the report, a competitive landscape of the residual current circuit breakers market has been included to provide report audiences with a dashboard view categorised on the basis of providers present in the value chain, their presence in the residual current circuit breakers market and key differentiating factors and strategies. The primary category of providers covered in the report includes the manufacturers and end-users of residual current circuit breakers. In addition to this, the section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the residual current circuit breakers market.
Detailed profiles of providers are also included in the scope of the residual current circuit breakers market report to evaluate their long- and short-term strategies, key offerings, and recent developments in the residual current circuit breakers market. Examples of some of the key competitors covered in the report include ABB, Siemens AG, Schneider Electric, Honeywell International Inc., Eaton, Havells India Ltd., Hager Group, HPL Electric & Power Limited, Rockwell Automation, Inc., Gewiss S.p.A. and Legrand, among others.