(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Global Circuit Protection Market 2015-2019" on their comprehensive research portal.
Circuit protection devices are installed with an aim to protect the circuit in which they are installed from unexpected power fluctuations. Since electric utility applications take the road to complexity the requirement of installing circuit protection devices of wide range voltage limits increases. Circuit protection devices are classified into two: circuit breaker and fuse. According to the requirements of industries these devices are offered in various voltage ranges.
Technavio's analysts forecast the global circuit protection market to grow at a CAGR of 5.49% over the period 2015-2019.
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The report analyst commented "Currently innovation in the automotive industry is mainly focused on ensuring the safety of people and equipment. To this end automotive sensors are being fitted in vehicles to monitor brake and other fluid levels. . New arc-flash relays along with electrical fuses and custom electrical products provide protection against electrical shocks in industrial areas and mines."
According to the report consumption of electricity globally is on the rise. Developing countries are the major source of increased electricity consumption worldwide. During the forecast period there will be continuous growth in the demand for energy. This will result in more projects for power generation transmission and distribution on a large scale. These projects will require circuit protection equipment so the global circuit protection market will benefit from the growing demand for electricity and the development of power distribution infrastructure.
Further the report states that one of the challenges is the demand for a speedy time-to-market turnaround.
The key players in the Global Circuit Protection Market are ABB AVX Bel Fuse Eaton Littelfuse Mitsubishi Electric and Siemens while other prominent vendors include Camsco Electric Cooper Industries General Electric. Kirloskar Electric L&T Powell Industries Schurter Holding and Sensata Technologies
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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