To cater to the increasing demand for power globally, new product development has been adopted by maximum industry players as a key strategy to achieve growth in the Generator Circuit Breakers Market. The market is estimated to reach $302.30 Million by 2019, at a CAGR of 2.47% from 2014 to 2019.
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Generator Circuit-Breakers are connected between a generator and the step-up voltage transformer. They are generally used at the outlet of high power generators (100MVA to 1800MVA) to protect them in a reliable, fast, and cost-effective manner. Such circuit breakers allow the passage of high permanent currents under continuous service (6.3kA to 40kA), and have a high breaking capacity (63kA to 275kA). They belong to the medium voltage range.
The drivers of this market are entirely influenced by the power transmission and generation industry. Growth in the related as well as complementary markets, such as switchgear and transformer, also contribute towards the growth of generator circuit breakers. The market segmentation and market size has been forecast on the basis of the generator circuit breakers industry, globally. The generator circuit breakers industry is projected to reach $302.30 Million by 2019, at a CAGR of 2.47% from 2014 to 2019.
The key countries have been covered and forecast for each region. Furthermore, the market has been segmented and forecast on the basis of major application areas such as coal, natural gas, and nuclear among others. The generator circuit breakers market is projected to witness a decent growth in the next five years. Asia-Pacific is the largest market for generator circuit breakers. This region, which has witnessed a decent growth in the past 10 years, accounted for approximately 29% of the total market in 2013. North America accounted for the second-largest market share of ~27% in the same year.
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Electric-power transmission is the bulk transfer of electricity, from power plants to electrical substations. Electric power transmission & distribution and generation equipments have very high demand. The primary reason behind an increase in transmission and generation spending is the demand for electricity grids. Generator circuit breakers are one of the major components for generator protection.
Coal and Natural gas – Major application area in market. Coal and natural gas together accounted for 82% of the total market share in 2013. Increasing demand for power transmission and generation equipment in the regions is the major driver of the generator circuit breakers market.