Industrial segment acquired the largest market revenue share in the Kazakhstan Circuit Breaker Market in year 2021 – 6Wresearch
Kazakhstan Circuit Breaker market has witnessed decent growth during 2018-2019 account of rising electrification in rural parts of the country, rise in the number of industries and booming infrastructure. However, revenue declined in year 2020, due to COVID-19 pandemic led measures, lockdowns and restriction on international trade resulted in a slight slowdown in the circuit breaker market due to supply chain disruption as Kazakhstan is highly dependent on import for raw materials. Further, with upliftment of lockdown restrictions and regulatory measures to revive economic activity, and USD 37 billion of investment in power generation over the next 20 years by the Kazakhstan government would boost the demand for circuit breaker.
According to 6Wresearch, Kazakhstan Circuit Breaker Market revenue size is projected to grow at a CAGR of 5.6% during 2022-2028. The Kazakhstan Circuit Breaker market is primarily driven by the rising number of manufacturing plants and growing renewable energy production. Further, government plans to develop transmission and distribution infrastructure in the country which would further booster the demand for circuit breaker from the power utility sector.
According to Shubham Deep, Research Associate, 6Wresearch, MCB acquired highest share in the Kazakhstan Circuit Breaker market in 2021 in terms of revenue on the back of its widespread applicability in residential, and commercial sector. However, gas circuit breakers are expected to register significant growth in the upcoming years owing to the rise in the number of industries and power generation plants in the country.
Additionally, by regions, “central region held the largest market revenue share for the year 2021 on the back of expansion of their existing power generation capacities and supply infrastructure to meet the rising electricity demand" Shubham further added.
Some of the major companies in Kazakhstan Circuit Breaker market include ABB Ltd, Siemens Ltd, Schneider Electric, Legrand, CHINT, IEK, TDM, EKF, IYON, Hitachi Electric, and Hyundai Electric.
“Kazakhstan Circuit Breaker market report (2022-2028)” report provides an in-depth analysis with 21 figures, covered in 73 pages. The report estimates and forecast the overall Kazakhstan Circuit Breaker market by types, applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.