Global Air Circuit Breaker Market - 2022-2029

Market Overview

The global air circuit breaker market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.

Circuit breakers and fuses reduce and manage the electric load on home appliances, industrial machinery, IT products, and electric tools, protecting them from power fluctuations caused by short circuits, overvoltage, and overload. An air circuit breaker is a specialized circuit breaker that safeguards low-voltage circuits by energizing and de-energizing high currents. The respective devices could be employed as the master of a factory or building, and a ship's main circuit breaker and other attachments can be attached depending on the purpose.

Market Dynamics

The growing demand for energy and increased energy production is a major market driver for the global air circuit breaker market. However, the increasing usage of miniature and SF6 circuit breakers and rising competition from the organized and unorganized players is a major market restraint.

Growing energy demand and increased energy production and supply

Growing electrification needs and the rising global need for energy storage are expected to boost demand for switchgear, propelling this market forward in the future years. End-users around the world are increasingly concerned about power interruptions. Energy storage technology adoption in power grids is one of the most cost-effective ways for utility providers to avoid service interruptions. Decentralized power generation has emerged due to significant electricity loss during transmission.

The expansion of renewable power generation has increased awareness about renewable energy, which has led to increasing acceptance of renewable energy and supportive government measures. According to the Energy Information Administration, renewable energy provided 28 percent of global power in 2018, with wind, solar, and hydropower playing a large role. Furthermore, numerous countries worldwide are expanding the implications of green energy targets to reduce greenhouse gas emissions.

Increasing energy demand, growing energy production irrespective of the source, and rising energy storage increase the demand for air circuit breakers due to their necessity in ensuring the safety of the energy lines that transit it. As a result, increased energy generation, storage and supply to meet the growing global energy concern would help to stimulate demand for the respective market.

Presence of alternatives such as SF6 and miniature circuit breakers

The insulating properties of SF6 gas are excellent, and it has a high electronegativity and a strong affinity for collecting free electrons due to its high electronegativity. SF6 gas could absorb electrons and form negative ions. As a result, the arc quenching medium of an SF6 circuit breaker is sulfur hexafluoride gas. The electronegative gas sulfur hexafluoride (SF6) has a significant ability to absorb free electrons. An arc is formed between the breaker's contacts when opened in a high-pressure sulfur hexafluoride (SF6) gas flow. The free electrons in the arc would be captured by the gas, resulting in comparatively stationary negative ions. The arc's loss of conducting electrons accumulates enough insulating strength to extinguish it.

As a result, increasing investment in advanced circuit breaker technologies such as SF6 has enabled the major players to compete globally. Therefore, the presence of SF6 and miniature circuit breakers, their increased advancements due to rising competition from organized and unorganized players to tend the demand from industries such as manufacturing, processing, construction, and transportation is expected to act as a major factor that would restrict the market's growth during the projected period.

COVID-19 Impact Analysis

Because of COVID-19, countries were compelled to apply lockdowns during the first half of 2020as a result, the air circuit breaker business has stagnated. Governments and municipal governments imposed stringent restrictions, and all activity associated with the manufacture and delivery of non-essential commodities was halted. COVID-19 also negatively influences the air circuit breaker business because end-user operations were halted and prevented the power industry's expansion, which has cascaded into the industrial sector, cutting demand for air circuit breakers.

The proliferation of COVID-19 is expected to negatively impact air circuit breaker manufacturers due to the global closure and supply chain problems. The cost of getting raw materials increased due to the supply shortage, causing order fulfillment delays. However, once the end-user sectors are fully functional, the market will return to its former glory.

Segment Analysis

The global air circuit breaker market is classified based on voltage, type, application and region.

The ability of medium-voltage ACBs to regulate the required energy variations in industrial and commercial plants ensures the dominance

The market is divided into two voltage categories: low voltage and medium voltage. The medium voltage sector dominates the market because of the large range of applications for ACBs with medium voltage in industrial, commercial, and power plant applications. The low voltage category is also leading the market, owing to the increased use of circuit breakers in applications such as power station auxiliaries, electricity sharing systems, and switchgear and interior medium voltage maintenance. ACB is increasingly being used to protect medium voltage equipment such as industrial plants, electrical machines, transformers, capacitors, and generators. As a result, the medium voltage segment is predicted to rise throughout the forecast period due to rising demand for ACBs from medium voltage applications.

Geographical Analysis

Growing industrial investments and construction in Asia-Pacific boosts the region's demand for air circuit breakers

The market is expected to grow in Asia-Pacific, owing to the increased use of ACBs to protect industrial facilities and electrical devices such as generators, capacitors, and transformers. The demand for ACBs in the region is being driven by increased investment in extending transmission and distribution networks. For example, on February 28, 2018, IndiGrid, an infrastructure investment trust (InvIT) in the Indian electricity industry, agreed to buy Patran Transmission Company Limited (PTCL) for US$ 33.90 million from Techno Electric & Engineering Company Limited. As a result of increased investment in expansion projects, Asia-Pacific will continue to lead the air circuit breaker market during the projection period.

Competitive Landscape

The global Air Circuit Breaker industry is extremely active in terms of the number and scope of global and local producers. Due to the existence of various producers such as ABB, Siemens, Eaton Corporation PLC, Mitsubishi Electric, Fuji Electric, Terasaki Electric Co. Ltd, Legrand, Larsen & Toubro, Hitachi Industrial Equipment Systems Co., Ltd, and CBI-electric Group, the market has been described as fragmented. Mergers, acquisitions, product launches, investments, and partnerships are all common market tactics used by significant market participants to gain a competitive advantage and notoriety in their respective industries.

Mitsubishi Electric

Overview: Mitsubishi Electric focuses on applying innovation to all elements of its business to improve its technology and services. Mitsubishi Electric has established itself as a major market player r in the production and distribution of electric and electronic equipment for energy and electric systems, Industrial Automation, Information and Communication Systems, Electronic Devices, and Home Appliances. The company was established in 1921 and is headquartered in Tokyo, Japan. The major product portfolio of the company includes edge computing products, circuit breakers, controllers, FA sensors, drive products, low-voltage power distribution products, power monitoring products, processing machines, and medium-voltage power distribution products, among others.

Product Portfolio:

Air Circuit Breakers (ACB): An air circuit breaker is used to safeguard low-voltage circuits by energizing and de-energizing high currents. The ACB products manufactured by the company could be employed as the master of a factory or building and a ship's main circuit breaker and other attachments to protect the integrity of the circuits and ensure safety.

Key Development:

Mitsubishi Electric signed a Memorandum of Understanding on June 8, 2021, with Siemens Energy to create gas solutions in the high-voltage power transmission market with zero global warming potential. Siemens Energy and Mitsubishi Electric are pioneers in developing high-voltage switching solutions and have been working on SF6-free gas-insulated switching solutions that replace greenhouse gas with clean air, a pure mixture of nitrogen and oxygen to help the world achieve its carbon-neutral goals. Clean-air insulation is now the only solution to greenhouse gases, posing no health or safety issues.

Why Purchase the Report?

To visualize the global air circuit breaker market segmentation voltage, type, application and region, as well as understand key commercial assets and players.

Identify commercial opportunities in the global air circuit breaker market by analyzing trends and co-development.

Excel data sheet with numerous data points of air circuit breaker market-level with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product mapping available as excel consisting of key products of all the major market players

The global air circuit breaker market report would provide approximately 61 tables, 54 figures and almost 184 pages.

Target Audience 2023

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies