Circuit Breakers Market Increase in the Automotive Sector and other Industrial.
Circuit breakers are electric switches that protect an electrical circuit or electrical distribution systems from damage caused by overload, abnormal voltage fluctuation or short circuit. These devices are used to detect malfunction and interruption in current flow. The Brazilian market for circuit breakers by voltage level is segmented into low voltage, medium voltage and high voltage. By arch quenching media, the circuit breakers market is bifurcated into air, vacuum, SF6, and others (CO2, DCB, and oil). Circuit breakers are used in construction, automotive, industrial, oil and gas, power generation industries and others (healthcare, mining and food & beverages). Manufacturers of circuit breakers are significantly investing in research and development activities for innovation in latest technologies.
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Growth in industrial and construction activities is primarily driving the circuit breakers market in Brazil. Circuit breakers are widely used in residential and commercial construction projects. This increase in demand is driven by large spending on projects related to housing, rail transport, roads, water supply, airport development, and ports. From a policy perspective, the boom of private-public partnerships (PPP) in Brazil has decreased complexities regarding project financing and delay in project completion in infrastructure and construction sectors. Increased focus on efficient and reliable power transmission and distribution coupled with installation of new energy infrastructure in emerging economies such as Brazil are likely to boost the circuit breakers market during the forecast period. In Brazilian utilities sector, electric distribution systems are vulnerable to failure due to power fluctuations and harsh environment conditions; hence, government is taking help of leading circuit breaker vendors to deploy circuit breakers at different voltage level to ensure steady power supply across the country.
Electric vehicles, smart meters, and solar energy are estimated to be the emerging markets for circuit breakers. There is a need for circuit breakers to protect devices from overheating, right from window lift motors to cooling fans in automation devices. Usage of smart grids helps update electric grids with reliability and efficiency. Persistent adoption of smart grid technologies is expected to provide growth opportunities for the circuit breakers market during the forecast period.
However, growth opportunities for the Brazilian low voltage switchgear and circuit breakers market have been restricted due to increase in counterfeits and illegal copying of patented technology. These counterfeited switchgears are of poor quality and less reliable. Chances of fire accidents get increased while using these fake switchgears and circuit breakers in chemical plants, public utility sectors, and the oil and gas industry. Furthermore, the major trends which lifted the economy of Brazil during the past decade are gradually losing stream and are unable to sustain growth over the long term. Both government and private consumption are increasing, but most of it has been driven by taxes and debt.
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