Market Leaders : AC Circuit Breaker Market
The ac circuit breaker market is estimated to be USD 4.1 billion in 2023 to USD 5.3 billion by 2028, at a CAGR of 5.3% during the forecast period. The factors that drive the market growth include the Growing investments in power generation from renewable energy sources, increasing capacity additions and enhancements for T&D networks, strengthening of power distribution infrastructure, and increased investments in industrial production. AC circuit breakers are required to distribute power networks, capacity addition, and enhancement plans are expected to drive the ac circuit breaker market.
The ac circuit breaker market is dominated by a few globally established players such as ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and Mitsubishi Electric (Japan). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.
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ABB (Switzerland) held the majority of the global ac circuit breaker market share in 2022. The company focuses on expanding its product portfolio by means of launching various merchandise along with DIN Rail circuit system DIN-Rail, a complete variety of miniature circuit breakers (MCBs), residual cutting-edge circuit breakers (RCCBs), and isolators for the retail electrical marketplace expected to be well worth USD 250 million in India. ABB formulation DIN-Rail portfolio, with its cutting-edge design, provides most reliable safety to electric circuits from possible damages caused by overload, brief circuits, and earth leakages in homes. The MCBs are to be had with a 7-12 months guarantee. This variety meets international standards and is synthetic in ABB India's clever buildings factory in Bengaluru (Karnataka), with a manufacturing capacity of 12 million poles of MCBs consistent with year.
Siemens (Germany) followed in second place with an extremely huge product portfolio. The company also has global operations and generates the remaining revenue from the Middle East, Asia Pacific, South America, North America, and Africa. Siemens offers a wide range of circuit breaker products that provide high reliability, compact design, remote switching via a remote-control unit, low planning costs, maintenance-free design, and long service life. The vacuum generator circuit-breaker product line offered by the company is a maintenance-free vacuum technology with up to 10,000 CO operating cycles at a full nominal rated current.
Schneider Electric (France) is considered to have the third largest share in the ac circuit breaker market. The company's revenue grew consistently from FY20 to FY22. In 2022, it invested 5.4% of its total revenue in R&D activities. Schneider Electric’s R&D efforts are focused on nurturing, supporting, and identifying opportunities offered by the Internet of Things (IoT), smart grids, renewables, cybersecurity, embedded systems, and smart metering or smart cities. Schneider Electric expanded its biodiversity pledge to use only deforestation-free wood across its supply chain and operations by 2030.
Eaton (Ireland) is considered to have the forth largest share in the ac circuit breaker market. It has invested in the diversification and expansion of its business across regions to maintain a balance between the variability and volatility in demand for various products within the Electrical Systems and Services segment. The company adopted product launches as one of its key growth strategies. For instance, in July 2022, Eaton acquired a 50% stake of Jiangsu Huineng Electric Co. Ltd. to increase its marketing and global presence simultaneously.
Another important player in ac circuit breaker market is Mitsubishi Electric (Japan) which focuses on several deals such as acquisition. For instance, in July 2022, the company acquired Scibreak AB to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.
Related Reports:
AC Circuit Breaker Market by Insulation Type (Air, Gas, Vacuum), Voltage (Medium, High, Very-high), Installation (Indoor, Outdoor), End-Use Industry (Transmission & Distribution Utilities, Power Generation, Industrial) & Region - Global Forecast to 2028
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