North America Air Circuit Breaker Market Size, Share & Industry Trends Analysis Report By Application (Industrial, Commercial, and Residential), By Type (Air Blast Circuit Breaker, and Plain Air Circuit Breaker), By Voltage, By Country and Growth Forecast, 2023 - 2030
The North America Air Circuit Breaker Market would witness market growth of 5.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 618.6 thousand units, showcasing a growth of 5.5% (2019-2022).
Governments and regulatory bodies have introduced stringent safety regulations mandating high-quality electrical protection devices. This has accelerated the adoption of advanced air circuit breakers that comply with safety standards. The growing reliance on renewable energy sources, such as wind and solar power, has expanded the deployment of air circuit breakers in renewable energy installations. They are essential for managing the intermittent nature of these energy sources and ensuring grid stability. The need for air circuit breakers has increased due to emerging nations' rapid urbanization and infrastructure expansion. As cities expand, reliable electrical distribution systems in commercial and residential buildings become paramount. A growing awareness of electrical safety among industries and individuals has prompted the adoption of advanced air circuit breakers. Safety features like arc fault detection and remote monitoring have become essential in modern systems.
One of the most significant trends in the market is the integration of digital technologies and IoT capabilities. Advanced air circuit breakers now offer remote monitoring and control features, allowing real-time tracking of electrical systems' health and performance. This digitalization enables predictive maintenance, reducing downtime and enhancing operational efficiency. Air circuit breakers are increasingly being incorporated into smart grid systems. They are crucial in managing and protecting various components, enhancing grid stability, and accommodating distributed energy resources.
As per the report titled 2023 Investment Climate Statements: Canada, released by the U.S. Department of State, the Canadian Net-Zero Emissions Accountability Act was established as a response to the climate problem in Canada. The law includes Canada's 2030 Emissions Reduction Plan, outlining strategies to decrease emissions to 40-45% below 2005 levels by 2030 and attain net-zero emissions by 2050. The bill also contains the government's promise to achieve net-zero greenhouse gas emissions by 2050. Canada announced USD 61 billion in tax credits for investments in clean electricity, clean tech manufacturing, carbon capture, hydrogen, and critical minerals. Therefore, increasing investment in renewable energy in North America will boost the region's demand for air circuit breakers.
The US market dominated the North America Air Circuit Breaker Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $801 million by 2030. The Canada market is exhibiting a CAGR of 7.7% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 6.8% during (2023 - 2030).
Based on Application, the market is segmented into Industrial, Commercial, and Residential. Based on Type, the market is segmented into Air Blast Circuit Breaker, and Plain Air Circuit Breaker. Based on Voltage, the market is segmented into Low-Voltage, and Medium-Voltage. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation PLC, Hitachi, Ltd., Fuji Electric Co. Ltd., Toshiba Corporation, ENTEC Electric & Electronic Co. Ltd, and Havells India Ltd.
Scope of the Study
Market Segments covered in the Report:
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
- Industrial
- Commercial
- Residential
- Air Blast Circuit Breaker
- Plain Air Circuit Breaker
- Low-Voltage
- Medium-Voltage
- US
- Canada
- Mexico
- Rest of North America
- ABB Group
- Schneider Electric SE
- Siemens AG
- Mitsubishi Electric Corporation
- Eaton Corporation PLC
- Hitachi, Ltd.
- Fuji Electric Co. Ltd.
- Toshiba Corporation
- ENTEC Electric & Electronic Co. Ltd
- Havells India Ltd.
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Air Circuit Breaker Market, by Application
- 1.4.2 North America Air Circuit Breaker Market, by Type
- 1.4.3 North America Air Circuit Breaker Market, by Voltage
- 1.4.4 North America Air Circuit Breaker Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.2.4 Geographical Expansions
- 4.3 Market Share Analysis, 2022
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Jan – 2023, May) Leading Players
- 4.5 Porter’s Five Forces Analysis
- Chapter 5. North America Air Circuit Breaker Market, By Application
- 5.1 North America Industrial Market, By Country
- 5.2 North America Commercial Market, By Country
- 5.3 North America Residential Market, By Country
- Chapter 6. North America Air Circuit Breaker Market, By Type
- 6.1 North America Air Blast Circuit Breaker Market, By Country
- 6.2 North America Plain Air Circuit Breaker Market, By Country
- Chapter 7. North America Air Circuit Breaker Market, By Voltage
- 7.1 North America Low-Voltage Market, By Country
- 7.2 North America Medium-Voltage Market, By Country
- Chapter 8. North America Air Circuit Breaker Market, By Country
- 8.1 US Air Circuit Breaker Market
- 8.1.1 US Air Circuit Breaker Market, By Application
- 8.1.2 US Air Circuit Breaker Market, By Type
- 8.1.3 US Air Circuit Breaker Market, By Voltage
- 8.2 Canada Air Circuit Breaker Market
- 8.2.1 Canada Air Circuit Breaker Market, By Application
- 8.2.2 Canada Air Circuit Breaker Market, By Type
- 8.2.3 Canada Air Circuit Breaker Market, By Voltage
- 8.3 Mexico Air Circuit Breaker Market
- 8.3.1 Mexico Air Circuit Breaker Market, By Application
- 8.3.2 Mexico Air Circuit Breaker Market, By Type
- 8.3.3 Mexico Air Circuit Breaker Market, By Voltage
- 8.4 Rest of North America Air Circuit Breaker Market
- 8.4.1 Rest of North America Air Circuit Breaker Market, By Application
- 8.4.2 Rest of North America Air Circuit Breaker Market, By Type
- 8.4.3 Rest of North America Air Circuit Breaker Market, By Voltage
- Chapter 9. Company Profiles
- 9.1 ABB Group
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.5.2 Product Launches and Product Expansions:
- 9.1.5.3 Acquisition and Mergers:
- 9.1.6 SWOT Analysis
- 9.2 Schneider Electric SE
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Partnerships, Collaborations, and Agreements:
- 9.2.5.2 Product Launches and Product Expansions:
- 9.2.6 SWOT Analysis
- 9.3 Siemens AG
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Product Launches and Product Expansions:
- 9.3.5.3 Acquisition and Mergers:
- 9.3.6 SWOT Analysis
- 9.4 Mitsubishi Electric Corporation
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Partnerships, Collaborations, and Agreements:
- 9.4.5.2 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 Eaton Corporation PLC
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Geographical Expansions:
- 9.5.6 SWOT Analysis
- 9.6 Hitachi, Ltd.
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Product Launches and Product Expansions:
- 9.6.5.2 Acquisition and Mergers:
- 9.6.6 SWOT Analysis
- 9.7 Fuji Electric Co. Ltd.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 SWOT Analysis
- 9.8 Toshiba Corporation
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research and Development Expense
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.6 SWOT Analysis
- 9.9 ENTEC Electric & Electronic Co. Ltd.
- 9.9.1 Company Overview
- 9.9.2 SWOT Analysis
- 9.10. Havells India Ltd.
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental Analysis
- 9.10.4 SWOT Analysis
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