LONDON, Aug. 25, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the circuit protection market, the growing demand for smartphones, PCs, laptops, and tablets is expected to drive the growth of the circuit protection market. Circuit protection is used to protect a device from damage caused by an excessive flow of current. This situation can occur on electronic devices such as smartphones. By installing circuit protection, such a situation can be avoided. In April 2021, according to the report published by Canalys, a market analyst firm, PC sales have remained stagnant for years due to the rise of smartphones. Over the last year, global shipments of desktops, laptops, and workstations have surged by 55%. The raw numbers—82.7 million units—make it the company's highest first-quarter shipment order since 2012. Notebook and mobile workstation shipments have surged by 79% year over year to 67.8 million units. Therefore, the rising demand for smartphones, PCs, and tablets drives the circuit protection market.
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The global circuit protection market size is expected to grow from $39.85 billion in 2021 to $42.66 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The global circuit protection market growth is expected to grow to $55.76 billion in 2026 at a CAGR of 6.9%.
Product launches shape the circuit protection market. As per the circuit protection market analysis, companies are creating new and advanced products to satisfy market needs. In February 2020, Bel Fuse Inc., a US-based company, launched the OZCM series. Bel Fuse is now the only vendor to have 10mA, 20mA, and 30mA solutions in a compact, AEC-Q-compliant form factor. The series has a 50mA to 200mA operating range; a maximum current of 40 A; a maximum voltage of 9–15 V DC; and a temperature range of -40°C to 85°C. The 0ZCM Series provides the low DCR resistance and quick trip time required for current automobile applications. It's ideal for gaming console ports, PDAs and digital cameras, disc drives, streaming devices, CD-ROMs, and other USB peripherals, as well as motherboard plug and play protection.
Major players in the circuit protection market are ABB Ltd., Siemens AG, Bel Fuse Inc., Schneider Electric SE, General Electric Company, Rockwell Automation Inc., Eaton Corporation Plc., Mitsubishi Electric Corporation, Larsen & Toubro Ltd, Texas Instruments Incorporated, NXP Semiconductors N.V., Alstom, Hitachi Ltd, and Keko-Vericon.
The global circuit protection market segmentation is categorised by type into overcurrent protection, electrostatic discharge (ESD) protection, overvoltage protection; by device into circuit breakers, fuses, ESD protection devices, surge protection devices; by channel outlook into original equipment manufacturer (OEM), retail, wholesale; by end-user into automotive and transportation, electrical and electronics, energy, construction, industrial, others.
North America was the largest region in the circuit protection market in 2021. The regions covered in the global circuit protection industry overview are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Circuit Protection Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide circuit protection market overviews, circuit protection market analyze and forecast market size and growth for the whole market, circuit protection market segments and geographies, circuit protection market trends, circuit protection market drivers, circuit protection market restraints, circuit protection market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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