Posted On: 2019-07-09
Several growth opportunities in the residential vertical such as upcoming projects in Yangon on account of rising population in Myanmar are anticipated to drive the demand for electrical components such as circuit breakers over the coming years. Additionally, growing number of industries and development of special economic zones across the country would further fuel the demand for medium and high voltage circuit breakers.
According to 6Wresearch, Myanmar circuit breaker market is projected to grow at a CAGR of 8.2% during 2019-25. "On-going government initiatives such as the Energy Master Plan 2030 and the National Electrification Plan focusing on establishing several new power plants, upgrading the existing ones and expanding the transmission and distribution network in the country in order to meet the growing energy demand in Myanmar. Further, medium and high voltage circuit breakers are extensively used in the power utilities domain and thus, rapidly growing power sector is expected to propel the demand for circuit breakers in Myanmar over the years to come".
According to Kanchan Negi, Research Analyst, Research and Consulting, 6Wresearch, "Low voltage segment accounted for the highest market revenue share in the overall circuit breaker market in 2018. These circuit breakers are primarily used in the residential apartments & houses and commercial office spaces, and include products such as MCBs, MCCBs, ACBs, and others. Thus, several upcoming projects in the development pipeline such as Leaf Residence and Kabar Aye Executive Residence in Yangon would result in an increasing demand for low voltage circuit-breaker over the coming years."
The vacuum circuit-breaker accounted for the highest revenue share in the overall medium voltage circuit breaker market revenues in 2018 owing to its indoor application, fire-resistant property and very low or no maintenance cost as compared to its other counterparts. However, owing to its reusable property and outdoor-indoor applicability, the market revenue share of gas circuit-breaker is expected to grow over the coming years," Kanchan further added.
According to Apoorva Sawheny, Research Associate, Research and Consulting, 6Wresearch, "In Myanmar, the Southern region is expected to show tremendous growth owing to widespread infrastructural and power projects being set up in the region. Additionally, development of the Dawei and Kyaukpyu special economic zones in the Southern region of the country in near future would further bolster the demand for circuit breakers in the market during the forecast period.
The demand for circuit breakers is expected to remain healthy in the Northern region in the years to come as a majority of power generation facilities are located in the Northern part of the country while the main load centers are in the Southern region," Apoorva concluded
Some of the prominent companies in Myanmar circuit breaker market include- ABB Ltd, Schneider, Siemens, Fuji Electric.
"Myanmar Circuit Breaker Market (2019-2025)" report provides an in-depth analysis with 43 figures and 19 tables covered in more than 110 pages. The report estimates and forecast the overall Myanmar circuit breaker market by voltage, type, application, and regions. The Myanmar circuit breaker market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.