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3. AC Circuit Breaker Market Size & Share - Future Growth Expectations

The global ac circuit breaker market size is expected to reach USD 5.3 billion by 2028 from an estimated USD 4.1 billion in 2023, at a CAGR of 5.3% during the forecast period. The major factors driving the growth of this market 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.

The ac circuit breaker market is being driven by several key factors.

• Expansion of Power Infrastructure
• Renewable Energy Integration
• Grid Modernization Initiatives
• Industrial and Commercial Construction
• Technological Advancements
• Safety Regulations and Compliance

To know about the assumptions considered for the study download the pdf brochure

Expansion of Power Infrastructure:

• With the increasing global demand for electricity, there's a pressing need to expand and upgrade power infrastructure. AC circuit breakers play a vital role in electrical distribution systems, safeguarding equipment and infrastructure from overcurrents and electrical faults. As countries invest in upgrading their power grids, the demand for AC circuit breakers surges.

Renewable Energy Integration:

• As the adoption of renewable energy sources like solar and wind power rises, integrating new generation capacity into existing electrical grids becomes essential. AC circuit breakers are crucial components in renewable energy systems, shielding inverters, transformers, and transmission lines from overloads and faults. With renewable energy targets driving the growth, the demand for AC circuit breakers increases.

Grid Modernization Initiatives:

• Grid modernization projects aim to enhance grid efficiency, reliability, and flexibility through advanced technologies. AC circuit breakers play a crucial role in modernizing grid infrastructure, enabling the integration of renewable energy sources and energy storage systems. As utilities upgrade their grids, the demand for advanced AC circuit breakers rises.

Industrial and Commercial Construction:

• The growth of industries and commercial buildings fuels demand for electrical equipment, including AC circuit breakers. Used in various applications, AC circuit breakers protect electrical circuits and ensure safety. With economic development and urbanization, the demand for AC circuit breakers for construction projects rises.

Technological Advancements:

• Ongoing advancements in AC circuit breaker technology contribute to market growth. Manufacturers develop AC circuit breakers with enhanced performance, reliability, and safety features, meeting evolving customer needs. Innovations such as digital protection relays and remote monitoring capabilities drive market adoption.

Safety Regulations and Compliance:

• Ensuring electrical safety is paramount for industries, utilities, and consumers. AC circuit breakers provide protection against electrical hazards, preventing fires and injuries. Regulatory standards mandate the use of AC circuit breakers, driving market demand for safety-compliant products.

The AC circuit breaker market is poised for continued growth, driven by the demand for electricity, renewable energy integration, grid modernization, industrial development, and safety compliance. With technological advancements and regulatory requirements shaping the industry, AC circuit breakers remain integral to modern electrical systems worldwide.

AC Circuit Breaker Market Share - Global Industry Landscape

The ac circuit breaker market is characterized by the presence of several key players competing for market share. Some of the leading companies in the ac circuit breaker industry include:

• ABB (Switzerland)
• Siemens (Germany)
• Schneider Electric (France)
• Eaton (Ireland)
• Mitsubishi Electric (Japan)

These companies, along with other specialized manufacturers and regional players, compete in the global AC circuit breaker market by offering a variety of products, technologies, and solutions to meet the diverse needs of customers in different industries. Market share within the AC circuit breaker industry may evolve based on factors such as product innovation, reliability, pricing, distribution network, and customer relationships.

ABB (Switzerland)

• 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)

• 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)

• 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)

• 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.

Mitsubishi Electric (Japan)

• 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