Air Circuit Breaker Market by Voltage (Low-Voltage and Medium-Voltage), Type (Air Blast Circuit Breaker and Plain Air Circuit Breaker), Application (Industrial, Commercial, and Residential) and Region - Global forecast to 2028
The global air circuit breaker market in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.1 billion by 2028, growing at a CAGR of 5.0% from 2023 to 2028. This growth is attributed to several key factors. Firstly, substantial investments are being made in power generation, especially in renewable energy sources. Secondly, there is a rising worldwide demand for dependable and secure power supply. Thirdly, continuous capacity expansions and enhancements are occurring in transmission and distribution (T&D) networks. Lastly, investments in the residential sector are gaining momentum. These combined factors are contributing to the expansion and growth of the market.
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Circuit Breaker: Dynamics
Driver: Safeguarding Power Systems Amid Renewable Energy Growth and Smart Technology Integration
The International Energy Agency (IEA) reports that the global energy crisis is driving a sharp acceleration in installations of renewable power, with total capacity growth worldwide set to almost double in the next five years, overtaking coal as the largest source of electricity generation along the way and helping keep alive the possibility of limiting global warming to 1.5 °C. Renewable energy sources like solar and wind power are gaining popularity due to their environmental advantages and cost-effectiveness. Air circuit breakers play a crucial role in renewable energy systems by safeguarding them against overcurrents and short circuits. There is a significant expansion and modernization of the global transmission and distribution (T&D) networks to meet rising electricity demands. Air circuit breakers are extensively utilized in these networks to provide protection against overcurrents and short circuits. The global power distribution infrastructure is undergoing reinforcement to enhance its reliability and efficiency. Air circuit breakers are indispensable components in power distribution systems, serving to protect them from overcurrents and short circuits. The growth of the global industrial sector is resulting in an increased demand for air circuit breakers. These breakers are commonly employed in industrial applications to shield electrical equipment from overcurrents and short circuits.
The emergence of smart technologies like the Internet of Things (IoT) and artificial intelligence (AI) is opening up fresh avenues for the air circuit breaker market. Smart air circuit breakers, for instance, enable the monitoring and management of electrical system performance. Growing emphasis on safety and reliability is driving demand: Air circuit breakers play a crucial role in safeguarding electrical systems against overcurrents and short circuits, thereby enhancing the safety and dependability of these systems.
Restraint: Stringent environmental and safety regulations for SF6 circuit breaker
The Kyoto Protocol has identified SF6 as one of the most potent greenhouse gases, boasting a high global warming potential (GWP) of 23,000. Consequently, it has garnered recognition as an extremely harmful greenhouse gas by the Intergovernmental Panel on Climate Change (IPCC), leading to regulatory measures aimed at reducing its emissions. While no alternative has yet matched the efficiency of SF6, policies discouraging its use and the associated high procurement costs have become challenges hindering market growth. Additionally, imperfections in joints during the manufacturing of SF air circuit breakers can lead to SF6 gas leakage. SF6 gas is harmful when inhaled, posing risks to personnel in the vicinity. To address this issue, the US Environmental Protection Agency (EPA) has implemented measures to detect SF6 gas leakage in breaker tanks.
Maintenance of SF6 air circuit breakers presents another set of challenges. The internal components require regular and meticulous cleaning in a clean and dry environment to prevent damage to sensitive parts. Special precautions are necessary for the transportation and maintenance of SF6 gas to maintain its quality and, subsequently, ensure the performance and reliability of SF6 air circuit breakers. Finding solutions to these issues is crucial not only for environmental sustainability but also for the continued development and viability of SF6-based air circuit breaker technology.
Opportunity: Replacement of aging grid infrastructure and the need for reliable T&D networks
The increasing demand for energy underscores the critical need for a reliable and stable transmission and distribution (T&D) network. The Department of Energy and the North American Electric Reliability Corp emphasize the importance of a power system capable of effectively managing sudden power surges and drops to ensure uninterrupted power supply. Notably, the United States faces a higher incidence of blackouts compared to other developed nations, with these power outages lasting more than an hour and displaying a worrisome upward trend in recent years. These blackouts come at a significant cost, estimated at around USD 150 billion annually for American businesses. Key factors contributing to this surge in blackouts include aging infrastructure, insufficient investments, and a lack of clear policies regarding grid modernization.
Similarly, the Canadian electricity sector is confronted with a substantial investment requirement of USD 350 billion over the next two decades, as highlighted by the Canadian Electricity Association. To address these pressing issues, the United States, Canada, and Mexico have joined forces through the North American Energy Working Group initiative. This initiative takes a comprehensive approach, aiming to assess all aspects of energy within North America, encompassing development, production, transportation, transmission, distribution, and consumption. It places a particular emphasis on a diverse range of energy sources and promotes the efficient and clean production and utilization of energy.
Challenge:Environmental Regulations, Renewable Integration, Aging Infrastructure, Cybersecurity, Competitiveness, and Technological Advancements Shape the Air Circuit Breakers Market.
The market confronts a multitude of challenges stemming from various factors, including environmental regulations, the integration of renewable energy sources, aging infrastructure, cybersecurity risks, market competitiveness, and technological advancements. One significant challenge arises from the tightening environmental regulations aimed at curbing greenhouse gas emissions. This specifically affects air circuit breakers employing SF6 gas, known for its high global warming potential. Adherence to these regulations poses a considerable hurdle for the industry. Additionally, the growing integration of intermittent and variable renewable energy sources necessitates air circuit breakers capable of effectively managing power fluctuations and ensuring grid stability. This dynamic landscape demands innovative solutions. Upgrading aging power grids and electrical systems to accommodate emerging technologies and escalating power demands presents its own set of challenges. The associated costs, logistical complexities, and the need to maintain uninterrupted power supply during these upgrades are formidable tasks.
The increasing digitization and connectivity of power systems bring forth concerns about cybersecurity risks. Protecting circuit breakers and control systems from cyber threats requires robust measures and constant vigilance. Market competitiveness is another pressing issue, with factors like market consolidation and the emergence of new competitors challenging existing players to retain their market share and competitiveness. Lastly, keeping pace with rapid technological advancements in the power sector, particularly the advent of smart grid technologies, demands continuous innovation and development of air circuit breaker solutions. This can be a demanding task for both manufacturers and end-users. To address these challenges effectively, a proactive approach is imperative. This includes strict compliance with environmental regulations, the exploration of alternative solutions to SF6 gas, substantial investments in infrastructure upgrades, the implementation of comprehensive cybersecurity measures, and a commitment to ongoing technological innovation.
Air Circuit Breaker Market Ecosystem
The circuit breaker market is characterized by the presence of prominent companies that are well-established, financially stable, and have extensive experience in manufacturing circuit breakers and components. These companies have a strong market position and offer a diverse range of products. They leverage advanced technologies and possess global sales and marketing networks. Some of the prominent companies in this market include Eaton (Ireland), ABB (Switzerland), Siemens (Germany), Mitsubishi Electric (Japan), and Schneider Electric (France).
By type, the air blast circuit breaker segment is the largest contributor in the air circuit breaker during the forecast period.
During the forecast period, Air blast circuit breakers hold the largest market share in the air circuit breaker market due to their reliable and robust performance in interrupting high-voltage electrical currents. They are widely used in power transmission and distribution systems, particularly in applications where rapid and efficient interruption of faults is essential. Air blast circuit breakers utilize compressed air to extinguish the arc, offering a safer and more environmentally friendly alternative compared to oil or SF6-based circuit breakers. Their proven track record for handling high fault currents and their lower maintenance requirements make them a preferred choice, especially in regions with stringent environmental regulations and a focus on grid reliability.
By voltage, the low voltage segment is expected to be the largest market for air circuit breaker during the forecast period.
By voltage, the low voltage segment dominates the air circuit breakers market as it encompasses a wide range of applications, from residential and commercial buildings to industrial facilities. With the increasing demand for electricity in these sectors, the need for reliable and efficient circuit protection is paramount. Air circuit breakers are well-suited for low voltage applications due to their ability to handle lower voltage levels effectively while providing essential protection against overloads and short circuits. Moreover, the expanding construction and infrastructure development activities, along with stringent safety regulations, drive the adoption of air circuit breakers in this segment, making it the largest market within the industry.
By application, the industrial segment is expected to be the largest contributor during the forecast period.
By application, The industrial segment dominates the air circuit breaker market as it encompasses a wide range of manufacturing and production facilities, infrastructure, and critical operations where uninterrupted power supply and electrical system protection are paramount. Industries such as manufacturing, petrochemicals, mining, and data centers rely heavily on air circuit breakers to safeguard equipment and ensure operational continuity. Additionally, the increasing industrialization, expansion of manufacturing facilities, and the need for robust electrical infrastructure in emerging economies further drive the demand for air circuit breakers in the industrial sector, making it the largest market segment.
Asia Pacific held the largest share of the air circuit breaker market in 2022.
In 2022, The Asia-Pacific region has emerged as the largest market in the air circuit breaker industry for several compelling reasons. Firstly, Asia-Pacific is home to some of the world's fastest-growing economies, such as China and India, which are experiencing rapid industrialization and urbanization. These factors drive an escalating demand for electrical power to support various industries, infrastructure development, and an expanding urban population. As a result, there is a substantial need for robust and reliable electrical distribution systems, where air circuit breakers play a pivotal role in ensuring the safety and stability of these networks. The Asia-Pacific region has been at the forefront of adopting and integrating renewable energy sources into its power generation mix. This transition to cleaner and more sustainable energy sources requires advanced grid infrastructure, including air circuit breakers that can handle the intermittent nature of renewables and ensure grid stability. The increasing emphasis on energy efficiency and environmental sustainability further boosts the demand for modern and efficient air circuit breakers in the region. The construction sector in the Asia-Pacific region is booming, with numerous infrastructure projects, commercial buildings, and residential complexes being developed. All of these projects require safe and efficient electrical systems, making air circuit breakers an integral component in ensuring electrical safety and uninterrupted power supply.
Key Market Players
ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), and Eaton (Ireland) stand out as major contributors to the industry. These companies have established themselves as leaders in the field and are known for their cutting-edge technologies and comprehensive product portfolios. In addition to these industry giants, there are several other notable players that play significant roles in the global air circuit breaker market. These include CG Power and Industrial Solutions (India), LS ELECTRIC (South Korea), Fuji Electric (Japan), Havells (India), Hitachi (Japan), C&S Electric (France), Toshiba Corporation (Japan), Entec Electric & Electronics (India), and various others.
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Report Metric |
Details |
|
Market Size available for years |
2020–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD) |
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Segments Covered |
Type, Voltage, Application, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and South America. |
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Companies covered |
ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), and Eaton (Ireland), CG Power and Industrial Solutions(India), Havells (India), Hitachi (Japan), LS ELECTRIC (South Korea), Hyundai Electric (France), Fuji Electric (Japan), C&S Electric (France), Toshiba corporation (Japan), Entec Electric & Electronic (india), and others |
This research report categorizes the market based on Type, Voltage, Application, and Region.
Based on the type:
- Plain Air Circuit Breaker
- Air Blast Circuit Breaker
Based on the voltage:
- Low Voltage
- Medium Voltage
Based on the application:
- Industrial
- Commercial
- Residential
Based on the region:
- North America
- Asia Pacific
- Europe
- Middle East & Africa
- South America
Recent Developments
- In November 2021, Siemens Smart Infrastructure added the new 3WA series to its Sentron line of air circuit breakers. The 3WA series protects electrical installations in buildings, infrastructure, and industrial facilities from overload, short circuits, and ground faults. It is an essential component of low-voltage power distribution.
- In September 2020, Siemens introduced two new outdoor circuit breakers that are specifically designed for renewable energy applications, such as wind power generation. The SDV-R circuit breaker is not arc-resistant, while the SDV-R-AR circuit breaker is.
- In January 2020, Siemens bought C&S Electric, a company that makes electrical and electronic equipment. This was done to meet the rising demand for electrification products. The acquisition included C&S Electric's low voltage switchgear components and panels, low and medium voltage power busbars, protection and metering devices businesses, as well as low and medium voltage power busbar operations in India.
- Eaton Cummins Automated Transmission Technologies announced in September 2020 the expansion of its Endurant Automated Transmission lineup with the introduction of the Endurant XD series. The Endurant XD series is a line of high-performance automated transmissions designed for on-highway applications such as double- and triple-trailer trucks, as well as heavy-duty on/off-highway applications such as dump and logging trucks.
- In July 2019, Eaton bought Innovative Switchgear Solutions, a company that makes medium-voltage electrical equipment in North America. This acquisition helped Eaton to expand its product portfolio of medium-voltage electrical equipment and strengthen its Systems and Services business segment.
Frequently Asked Questions (FAQ):
What is the current market size of the air circuit breaker market?
The size of the global circuit breaker is USD 3.2 billion in 2023.
What are the major drivers for the air circuit breaker market?
The major drivers for the air circuit breaker market include increasing demand for reliable electricity supply, the growing adoption of renewable energy sources, stringent safety regulations, infrastructure modernization efforts, and the expansion of industrial and commercial sectors, all of which require efficient and robust circuit protection solutions to ensure uninterrupted power distribution and grid stability.
Which region dominates during the forecasted period in the air circuit breaker market?
The Asia-Pacific region, and specifically China and India, dominated the air circuit breaker market. This dominance was driven by rapid industrialization, urbanization, infrastructure development, and a surge in electricity demand in these emerging economies. However, market dynamics can change over time due to various factors, so it's advisable to consult the latest market reports and data for the most up-to-date information on regional dominance in the air circuit breaker market.
Which is the fastest-growing type segment during the forecasted period in the air circuit breaker market?
Air blast circuit breakers have become the largest segment in the air circuit breaker market due to their unique advantages. These circuit breakers are highly reliable and suitable for medium and high-voltage applications, making them essential for power transmission and distribution networks. Their robust design allows for efficient interruption of electrical currents, particularly in critical situations like short circuits. Air blast circuit breakers are known for their minimal maintenance requirements and long service life, reducing operational costs. Additionally, they are environmentally friendly as they do not use any insulating gas with a high global warming potential, addressing growing concerns about greenhouse gas emissions. As industries and utilities prioritize safety, reliability, and sustainability in their electrical systems, air blast circuit breakers have gained prominence as the preferred choice for protecting and controlling electrical networks, leading to their dominance in the air circuit breaker market.
Who are the leading players in the global air circuit breaker market?
ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Mitsubishi Electric (Japan), and Eaton (Ireland) are the leading players in the Air circuit breaker market.
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To ascertain the present market size of air circuit breakers, a comprehensive methodology was employed. The process involved extensive secondary research to collect data on the market and its associated sectors. These insights were subsequently corroborated through primary research, which entailed consultations with industry experts spanning the entire value chain. The assessment utilized a combination of top-down and bottom-up approaches to determine the overall market size. Furthermore, for specific segments and subsegments, market segmentation and data triangulation methods were applied to calculate their respective market sizes.
Secondary Research
In this research study, an extensive array of secondary sources was harnessed, encompassing directories, databases, and esteemed references like Hoover's, Bloomberg BusinessWeek, Factiva, World Bank, US Department of Energy (DOE), and International Energy Agency (IEA). These sources played a pivotal role in amassing invaluable data for a thorough examination of the worldwide circuit breaker market, spanning technical, market-oriented, and commercial dimensions. Further secondary sources encompassed annual reports, press releases, investor presentations, white papers, accredited publications, articles by reputable authors, industry associations, trade directories, and database resources.
Primary Research
The air circuit breakers market comprises a diverse array of stakeholders, encompassing public and private electric utilities, distribution companies, manufacturers of air circuit breakers, dealers, suppliers, component manufacturers for air circuit breakers, consulting firms specializing in the energy and power sector, and various others. To gain comprehensive insights into the market dynamics, primary research involved interviews with stakeholders representing both the supply and demand sides. These primary sources offered qualitative and quantitative perspectives on the market. The primary respondents were categorized as follows—
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Air Circuit Breaker Market Size Estimation
The research approach used to assess the dimensions of the worldwide air circuit breakers market and its related submarkets combines top-down and bottom-up methodologies. These methods were thoroughly utilized to determine the dimensions of various subsegments within the market. The research process encompasses the following fundamental stages
- Extensive secondary research was conducted to identify the key players in the industry and the market. Additionally, their market shares within their respective regions were ascertained through a combination of primary and secondary research efforts.
- The research process involved both primary and secondary research methodologies to establish the industry's supply chain and quantify the market's size in terms of its value.
- Percentage shares, splits, and breakdowns were initially derived from secondary sources and subsequently validated and corroborated through primary sources to ensure accuracy and reliability in the research findings.
Global Air Circuit Breaker Market Size: Bottom-Up Approach
Global Air Circuit Breaker Market Size: Top-Down Approach
Data Triangulation
Following the determination of the overall market size, as outlined in the earlier explained market size estimation methods, the market was further subdivided into segments and subsegments. To complete the comprehensive market analysis and obtain precise statistics for each market segment and subsegment, the research employed data triangulation and market breakdown techniques whenever relevant. Data triangulation involves a thorough examination of various factors and trends from both the demand and supply perspectives to ensure the accuracy and reliability of the data and findings.
Market Definition
An air circuit breaker (ACB) is an electrical switching device designed to provide protection and control in electrical power distribution systems. It is primarily used to interrupt or disconnect electrical circuits when a fault, such as overcurrent or short circuit, occurs. Air circuit breakers operate by using compressed air as the arc quenching medium to extinguish electrical arcs generated during a fault. These devices are commonly employed in low-voltage and medium-voltage electrical systems to ensure the safety of electrical equipment, prevent damage, and maintain the reliability of power distribution. Air circuit breakers come in various sizes and configurations to meet the specific protection and control needs of different applications in industries, commercial buildings, and residential settings.
The Asia Pacific region is poised to experience the swiftest expansion in the air circuit breakers market during the forecast period. This surge is attributed to the rapid pace of industrialization and urban development in the region. Furthermore, increased investments in renewable energy ventures are expected to fuel the demand for air circuit breakers in Asia Pacific. Globally, the air circuit breakers market is anticipated to maintain stable growth in the coming years. Rising demand from various sectors, such as power generation, transmission, distribution, and industrial applications, is projected to be a driving force behind market expansion. Additionally, the increasing adoption of smart air circuit breakers is expected to usher in fresh opportunities for market participants.
Key Stakeholders
- Government Utility Providers
- Independent Power Producers
- Circuit Breaker manufacturers
- Power equipment and garden tool manufacturers
- Consulting companies in the energy & power sector
- Distribution utilities
- Government and research organizations
- Organizations, forums, and associations
- Raw material suppliers
- State and national regulatory authorities
- Switchgear manufacturers, distributors, and suppliers
- Switchgear and circuit breaker original equipment manufacturers (OEMs)
Objectives of the study
- To define, describe, and analyze the global market for air circuit breakers based on type, voltage, and application.
- To provide thorough information on the key factors (drivers, restraints, opportunities, and challenges) affecting the growth of the air circuit breakers market.
- To strategically examine the air circuit breakers market with regard to distinct growth trends, prospects, and market contributions made by each segment.
- To assess the effects of the recession on the air circuit breakers market in order to calculate the market's size.
- To evaluate market opportunities for stakeholders and specifics of a competitive environment for market leaders
- To forecast the market growth for circuit breakers in relation to the major geographical areas (Asia Pacific, Europe, North America, South America, the Middle East, and Africa)
- To comprehensively analyze each player's market share and core competencies and strategically profile the major players.
- To monitor and assess market competition developments, such as new product launches, contracts and agreements, investments and expansions, and mergers and acquisitions
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Regional Analysis
- Further breakdown of region or country-specific analysis
Company Information
- Detailed analyses and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Air Circuit Breaker Market