PUBLISHER: Allied Market Research | PRODUCT CODE: 1414965
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414965
According to a new report published by Allied Market Research, titled, "Air Circuit Breaker Market," The air circuit breaker market was valued at $1.8 billion in 2022, and is estimated to reach $3.0 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
The need for vital electrical components increased in conjunction with the recent increase in global investment in infrastructure development, with air circuit breakers (ACBs) being essential to the safety and dependability of these rapidly developing projects. Effective electrical protection systems are becoming necessary as countries across the globe give emphasis to develop and update their infrastructure in areas such as energy, transportation, and construction. Air circuit breakers, known for their adaptability and effectiveness, are integrated in essential devices to protect the complex electrical networks that support the wide range of modern infrastructure projects.
The increased need for air circuit breakers is partly due to transportation infrastructure, such as highways, airports, and trains. Complex electrical networks that include robust protective measures are needed for the electrification of transportation infrastructure, such as electric trains and electric car charging stations. Air circuit breakers are necessary to these networks as they effectively and instantly cut off electrical currents in the event of a malfunction, protecting the infrastructure and assuring passenger safety. The electrical systems that drive the ever-expanding network of modern transport infrastructure depend heavily on ACBs owing to their dependability and safety features.
In addition, the need for air circuit breakers expanded due to the development and construction of smart cities and buildings. The electrical systems in the buildings must be extremely safe alongside to being highly efficient due to the incorporation of innovative technologies such as automation and intelligent building management systems. Air circuit breakers play an integral part in protecting complicated electrical networks from potential risks and provide quick protection. This helps to ensure the overall safety and sustainability of modern urban infrastructure. Thus, surge in investment in infrastructure projects is expected to drive the growth of the air circuit breaker market during the forecast period.
Advances in technology have made air circuit breakers important in modern electrical grid. The efficiency and reliability of ACBs are enhanced by the incorporation of intelligent features, superior arc quenching processes, modular structures, and environmentally sustainable insulating alternatives. These modifications have also created a growth opportunity for ACBs in various industries. The integration of digitization and intelligent characteristics is a significant technological achievement in air circuit breakers. Real-time monitoring, remote control, and diagnostic features are provided by smart ACBs with embedded microprocessors, communication interfaces, and smart sensors. This level of intelligence enables predictive maintenance possible, which reduces downtime and improves the overall reliability of electrical systems by enabling operators to identify any problems before they become severe.
The performance of air circuit breakers has also been enhanced by developments in arc quenching technology. Arc interruption in traditional ACBs was carried out using a variety of techniques, including the use of oil, sulfur hexafluoride (SF6), or air as the quenching medium. However, advanced arc quenching methods including dynamic resistance breaking and magnetic blowout are used in modern ACBs. These advancements lead to quicker and more effective arc extinguishing, which decreases the strain on electrical components and extends the circuit breaker's overall life.
Furthermore, the range of applications for air circuit breakers increased with the development of compact and modular designs. The large and heavy structures of traditional ACBs limited their applicability in areas with limited space. Greater flexibility and scalability are made possible by the introduction of modular designs, that also make it simple to customize in accordance with project needs. Thus, technological advancements created a lucrative growth opportunity for the expansion of the air circuit breaker market.
The air circuit breaker market is segmented on the basis of type, voltage, application, and region. By type, the market is divided into plain air circuit breaker, air blast circuit breaker, magnetic blowout, and air chute circuit breaker. The air blast circuit breaker segment is further classified into axial blast air circuit breaker, cross blast air circuit breaker, and radial blast air circuit breaker. Depending on voltage, the market is bifurcated into low voltage and high voltage. On the basis of the application, it is categorized into industrial, commercial, and residential. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global air circuit breaker market are: ABB, alfanar Group, CNC ELECTRIC GROUP CO., LTD., Eaton, Havells India Ltd., Hitachi, Ltd., Mitsubishi Electric Corporation, Schneider Electric, Siemens, and WEG.