The market for electronic circuit protector in the Asia Pacific (APAC) region would see significant growth over the period of 2019 to 2029. The reason that is massively attributed to the growth of electronic circuit protector market on the stated region is the improving grid infrastructure. This is particularly the case in India and China, countries that are seeing growth in manufacturing center, and increase in government initiatives that are directed towards this growth. Additionally, the global electronic circuit protector market players will witness emergence of new growth opportunities in Latin America owing to development of manufacturing sector and growing efforts of the government in this direction.
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On the other hand, a large share of the global electronic circuit protector market will see North America lay claim to a large share of the market growth over the forecast period. The reason this growth will be attributed to is high level of technological advancement and its adoption. Besides, massive automation is being noted in the manufacturing sector of the region, driving the regional electronic circuit protector market on an upward growth trajectory. Europe will also ride the wave of increasing stringency in the rules and regulations regarding work safety and pressing need to improve production processes.
Overall, as per Transparency Market Research, over the period of 2019 to 2029, the global electronic circuit market would grow at a steady pace, creating new opportunities for market players to tap into and lay claim to a larger share of the market. This will add to the market worth and help pro-active players consolidate their position in the market.
COVID-19 to Impact Global Electronic Circuit Market over the Year
Over the three quarters of this year, COVID-19 would negatively impact growth in the global electronic circuit protector market. It does not come as a surprise considering that the global economy is seeing a dip and trade is impacted. Besides, manufacturing is witnessing a slow down owing to countries having put citizens under strict lockdowns. This is particularly true of North America and Europe with high number of fatalities. However, it is worth noting here that towards the last quarter, the market will start recovering.
Increase in Investment in the Smart Grid Infrastructure Propelling Growth in the Global Electronic Circuit Protector Market over the Forecast Period
In developing countries like India and China, massive demand for electronic circuit protectors will be noted owing to development of smart grid infrastructure. Here, it is also worth noting that the use of electronic circuit protectors is also seen in systems of modern grid infrastructures such as micro grids and super grids. Additionally, players in the global market are coming up with innovative products such as circuit protectors with unique flap-hinged mechanism. This helps ensure about 16 circuits are protected, placed side by side, either connected electrically or on a symmetrical rail.
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Fairly Fragmented Vendor Landscape to See Players Focusing on Innovation in the Global Electronic Protector Market over the Forecast Period
Presence of a large number of companies in the global electronic circuit protector market makes the vendor landscape a fairly fragmented one. This also ensures that high level of competition exists in the market and that players make use of a mix of strategies, sometimes aggressive to stay ahead of the curve. Since technology and innovation play a key role in determining growth in the global electronic circuit protector market, players will have a sharp eye on the two. Some of the most notable players that the market recognizes are TTI, Inv, Deutsche Messe AG, Schneider Electric, OMRON Corporation, PHOENIX CONTACT, E-T-A Elecktrotechnische Apparate GmbH, Fuji Electric FA Component and Systems Co. Ltd., and Rockwell Automation, Inc., among others.