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Air Circuit Breaker Market was valued at USD 3.5 billion in 2021, and forecast to reach USD 5.2 billion in 2029, growing at a CAGR of 5.1% during 2022-2029.
The factors driving the growth of Air Circuit Breaker Market includes rising focus on utilizing renewable sources of energy for generating electricity, increase in the number of smart cities around the world, growing demand for reliable and secure power supply and improvements in the living standards. According to the World Energy & Climate Statistics Yearbook 2022, the share of renewable energy in the power mix across Europe has increased from 33.6% in 2015 to 40.7% in 2021, which is expected to accelerate the market growth in the approaching years. Moreover, emerging need to upgrade the ageing electrical infrastructure, increasing incidences of power outages, technological advancements in power grid, public safety regulations imposed by Governments and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development and rise in the launch of innovative prodcuts are further contributing towards the market growth.
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However, growth of the Air Circuit Breaker Market is hindered due to increasing competition form unorganized players.
The prominent players operating in the market are Schneider Electric SE, Larsen & Toubro Limited, C&S Electric Ltd., ABB, Siemens AG, Eaton Corporation, Fuji Electric Co. Ltd., Hitachi, Ltd., Mitsubishi Electric Corporation, and Hyundai Electric, among others.
Based on Voltage, the Low-Voltage Air Circuit Breaker segment is predicted to expand at a significant CAGR over the forecast period
Increasing application of low-voltage air circuit breakers in power plants, industrial equipment, and distribution facilities, is propelling growth of the segment.
Based on Application, the Industrial Air Circuit Breaker segment is projected to grow at a robust CAGR during the forecast period
Increasing use of air circuit breakers for manufacturing and processing operation processes, are pushing growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
Government policies promoting the use of renewable sources of energy, presence of the leading players such as Mitsubishi Electric Corporation, and Hyundai Electric, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
In Nov 2017, Siemens developed 3WL10 circuit breaker in compact size zero which can handle rated currents of up to 1,250 amperes (A).
Market Segmentation
Segmentation by Voltage
Low-Voltage Air Circuit Breaker
Medium-Voltage Air Circuit Breaker
Segmentation by Type
Plain Air Circuit Breaker
Air Blast Circuit Breaker
Segmentation by Application
Industrial Air Circuit Breaker
Commercial Air Circuit Breaker
Residential Air Circuit Breaker
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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