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Cumulative High-voltage Circuit Breaker Sales to Exceed 40,000 Units by 2024
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The North American high-voltage circuit breaker market has been analyzed on the basis of the voltage classes: 72.5kV, 115kV, 123kV, 145kV, 170kV, 245kV, 352kV, 550kV, and 800kV. The report is segmented based into the sub-transmission (72.5kV) and transmission (greater than 72.5kV) segments. Based on the construction type, the circuit breaker market is segmented into live tank and dead tank circuit breakers.
The geographical region covered in this report includes only the United States and Canada. The revenue reported in this report includes circuit breakers that are sold in North America only. The report does not include revenue generated out of refurbished or retrofitted circuit breakers in the region. Breakers sold to all end users have been considered for revenue calculation.
Growing renewable energy investment is driving significant investments in utility infrastructures, like the transmission and distribution networks. The market is forecasted to grow at a compound annual growth rate (CAGR) of 3.1% from 2017 to 2024. Market growth is driven by the replacement of aged grid infrastructure and growing weather related incidents. Most of the transmission and distribution infrastructure in the United States is aged. Moreover, in 2017, the United States witnessed 16 separate billion dollar weather and climate disasters including floods, cyclones, and storms. Some of the challenges in the industry include flat power demand and the need to refurbishment of aged equipment, which slow the pace of the market growth. Technology, price, and customer relationships are among the top preferences for utilities and industrial customers when it comes to selecting a supplier. In 2018, the US government has increased the import tariff by 25% for steel imported from countries outside North America. Following the increase in tariffs on steel and copper, the prices of raw materials are expected to increase, which in turn could adversely affect the purchasing decisions of cash constrained utilities and industries. These end users could opt for retrofitting or refurbishing circuit breakers to prolong their life, as a cheaper option to buying new circuit breakers.
Key Issues Addressed
Author: Rajalingam Arikaarampalayam Chinnasamy
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