The Global Air Circuit Breaker Market size is expected to reach $4.5 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,921.5 thousand units, experiencing a growth of 5.8% (2019-2022).
Europe has a robust regulatory framework focused on electrical safety and environmental standards. Consequently, the European region generated $775.4 million revenue in the market in 2022. This commitment to safety has led to the increased adoption of advanced air circuit breakers with enhanced protection features, making them an integral component of electrical distribution systems in the region. Compliance with stringent regulations has driven the market's growth as businesses and industries prioritize safety and adhere to standards like IEC (International Electrotechnical Commission) and EN (European Norms). Therefore, these aspects will help in the expansion of the Europe segment in the coming years.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, Schneider Electric SE announced a partnership with UL Solutions to help Schneider in providing its customers with solutions to attain their environmental, social, and governance (ESG) goals. Additionally, In April, 2023, Siemens AG signed a partnership with IBM to develop software solutions for systems engineering. The solutions would help the customers to reduce product development costs and drive nonstop innovation.
Based on the Analysis presented in the KBV Cardinal matrix; Hitachi, Ltd., Siemens AG and Schneider Electric SE are the forerunners in the Market. Companies such as ABB Group, Mitsubishi Electric Corporation and Eaton Corporation PLC are some of the key innovators in the Market. In January, 2021, ABB Group signed a partnership with Surat Municipal Corporation to support its goal of achieving a clock water supply. The partnership supports the local Government’s Smart City vision and reinforces ABB's commitment to providing its customers around the globe with top-notch power transition solutions.
Industries and businesses rely heavily on continuous and uninterrupted power supplies. Any power interruption can result in significant financial losses due to downtime, damage to equipment, and disrupted operations. ACBs are designed to detect and clear electrical faults quickly, preventing power outages and minimizing business interruptions. This reliability makes ACBs a vital component in industrial and commercial settings. ACBs safeguard critical infrastructure, such as power generation plants, transportation networks, healthcare facilities, and data centers. These facilities require an uninterrupted power supply to ensure public safety and continued operations. ACBs are integral to maintaining the reliability of power distribution systems in these settings. These factors are expected to drive the expansion of the market.
As cities expand and urbanization continues, there is an ever-growing demand for building infrastructure, including residential complexes, commercial spaces, and industrial facilities. These structures require reliable electrical distribution systems to function efficiently, as uninterrupted power is essential for modern living and business operations. ACBs play a pivotal role in urban electrical grids. With the increase in urbanization, governments and regulatory bodies often introduce stricter safety regulations related to electrical systems in buildings. Compliance with these regulations typically requires the installation of high-quality ACBs to protect against electrical faults. This regulatory aspect drives the demand for ACBs in urban construction projects. Therefore, these factors will propel the future demand for air circuit breakers.
Price wars and aggressive competition often lead to downward pressure on prices. Manufacturers may reduce prices to secure market share and remain competitive, resulting in thinner profit margins. When profit margins are squeezed, manufacturers may find investing in research and development for innovative product features and improvements challenging. In an intensely competitive market, some manufacturers may reduce costs in areas such as customer support and technical assistance. This can result in a lack of post-sale support, making it more challenging for end-users to maintain and troubleshoot their air circuit breakers effectively. These factors are expected to restrain the growth of the market in the coming years.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
Based on type, the market is segmented into plain air circuit breaker and air blast circuit breaker. In 2022, the plain air circuit breaker segment garnered a significant revenue share in the market. Plain air circuit breakers are valued for their simplicity and reliability. They are well-suited for applications where uncomplicated and robust protection is required. This is particularly advantageous in industries and regions with limited access to advanced technologies or resources. The cost-effectiveness of plain air circuit breakers is one of the main factors contributing to their ongoing rise. They are often more affordable than alternative technologies such as vacuum or SF6 circuit breakers. This makes them an attractive choice for budget-conscious projects, especially in developing economies. Therefore, there will be enhanced demand in the segment.
On the basis of voltage, the market is bifurcated into low-voltage and medium-voltage. The low-voltage segment recorded the maximum revenue share in the market in 2022. Low-voltage air circuit breakers are designed to operate at voltages below 1000 volts AC (alternating current). They protect against overcurrent and short-circuit conditions in electrical systems operating at these voltage levels. These breakers are widely used in commercial, industrial, and residential applications where the electrical load demands are lower but require reliable protection. Owing to these factors, the demand in the segment is expected to grow.
Based on application, the market is divided into industrial, commercial, and residential. The industrial segment recorded the maximum revenue share in the market in 2022. The global industrial landscape is experiencing continuous growth and transformation. Emerging economies are rapidly industrializing, and established industrial regions are constantly evolving. This industrial expansion requires robust and reliable electrical distribution systems, making air circuit breakers necessary. Therefore, the demand in the segment will increase in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 2.9 Billion |
| Market size forecast in 2030 | USD 4.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.8% from 2023 to 2030 |
| Number of Pages | 310 |
| Number of Table | 574 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Voltage, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the highest revenue share in the market in 2022. Asia Pacific has a robust industrial and commercial landscape, with a significant presence of manufacturing, data centers, commercial complexes, and critical infrastructure. The growing need for electrical protection and reliable power distribution in these sectors has increased demand for air circuit breakers. Industries such as automotive manufacturing, oil and gas, and semiconductor production have contributed significantly to this growth. The segment will witness increased growth in the coming years due to these aspects.
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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.
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Type
By Voltage (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
This Market size is expected to reach $4.5 billion by 2030.
Rapid urbanization and the ongoing infrastructure development projects are driving the Market in coming years, however, Intense competition in the market restraints the growth of the Market.
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.
In the year 2022, the market attained a volume of 2,921.5 thousand units, experiencing a growth of 5.8% (2019-2022).
The Air Blast Circuit Breaker segment is leading the Breaker Market, By Type in 2022 thereby achieving a market value of $2.7 billion by 2030.
The Asia Pacific region dominated theMarket, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.9 billion by 2030.
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