Global generator circuit breaker market to hit $302.30m by 2019
It added that 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 report stated: “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 the generator circuit breakers 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.
“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”.
The report disclosed that Asia-Pacific is the largest market for generator circuit breakers, owing to the increase in urbanization and industrialization in the region. It is followed by North America, which is growing due to the increase in demand for power in the region.
It added that currently, the natural gas segment is expected to dominate the generator circuit breakers market by 2019. The coal segment is expected to occupy the second largest share in the global generator circuit breakers market in the same year