Air Circuit Breaker Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Air Circuit Breaker Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Air Circuit Breaker Market

The air circuit breaker market size was valued at USD 3.24 billion in 2019, and the market is now projected to grow from USD 7.17 billion by 2032, exhibiting a CAGR of 6.31% during the forecast period of 2020-2027.

The COVID-19 outbreak affects the expansion of the air circuit breaker market because of degrading industrial costs, a slowdown in grid upgrade programs and an economic decline. Reduced power consumption from the industrial and commercial sectors has led to the closure of power plants in different areas. This trend is anticipated to slow down the air circuit breaker market growth in the future years.

The growing interest in renewable power generation encourages the air circuit breaker market share by boosting awareness and favourable governmental policies. The EIA has used data to estimate that renewables comprised 28% of the global power in 2018 and will be valued at 49% in 2050. International governments are establishing green energy policies to reduce emissions and achieve the Paris Agreement to reduce temperature increase, increasing the use of renewable energy.

Besides, increasing spending on industrial applications has led to the need for ACBs in the production and processing industries. According to the World Investment Report in 2018, Asia Pacific was the largest FDI recipient with USD 476 billion in 2017 from China and Singapore. This boost in industrial investment has led to the expansion of ACB deployment across different manufacturing and end-use sectors.

Comprehensive Analysis of Air Circuit Breaker Market

The air circuit breaker market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by type, by voltage and by end user. The type includes, Air Blast Circuit Breaker and Plain Air Circuit Breaker. The voltage includes, Low Voltage and Medium Voltage. The end user includes, Utility, Industrial, Commercial and Others.

The Asia Pacific air circuit breaker market is expected to grow due to rising investments in industrial plant protection and electrical machinery, including generators and transformers. The expansion of transmission and distribution networks is boosting ACB demand in the region. These investments position Asia Pacific to lead the ACB market share during the forecast period.

The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, ABB (Switzerland), Siemens (Germany), Schneider Electric (France), GE (United States), Hyundai Electric & Energy Systems Co., Ltd. (South Korea), Eaton (Ireland), Mitsubishi Electric (Japan), Fuji Electric (Japan), Terasaki Electric Co. Ltd (Japan), Legrand (France), Larsen & Toubro (India), WEG (Brazil), Hitachi Industrial Equipment Systems Co., Ltd. (Japan) and CBI-electric Group (United States). These market players provide a level-playing competitive landscape.

In July 2021, ABB launched the ReliaGear, a new low-voltage switchgear that includes SACE Emax 2 air circuit breakers with Ekip trip units in the platform. This model is primarily intended for critical power facilities, strategic business sectors and oil and gas industries.

Segmentation Table

Global Air Circuit Breaker Market Scope

Study Period2016-2027

Base Year2019

Forecast Period2020-2027

Growth RateCAGR of 6.31% from 2020 to 2027

Historical Period2016-2018

UnitValue (USD Billion)

SegmentationBy Type, Voltage, End-User, and Region

By TypeAir Blast Circuit Breaker

Plain Air Circuit Breaker

By VoltageLow Voltage

Medium Voltage

By End-UserUtility

Industrial

Commercial

Others

By RegionNorth America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Russia and Rest of Europe)

Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)

Latin America (Brazil, Mexico and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.