Air Circuit Breaker Market to be Driven by the Increasing Investment in Expanding Power Transmission and Distribution Networks
The new report by Expert Market Research titled, ‘Global Air Circuit Breaker Market and Forecast 2022-2027’, gives an in-depth analysis of the global air circuit breaker market, assessing the market based on its segments like the voltage, type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 3.9 billion
- Forecast CAGR (2022-2027): 3.8%
- Forecast Market Size (2027): USD 4.8 billion
|Market Size in 2021||3.9 billion|
|Revenue Forecast in 2027||4.8 billion|
|Growth Rate CAGR||3.8%|
|Major Players||ABB Ltd, Eaton Corporation PLC, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, Siemens AG, and Hitachi Industrial Equipment Systems Co., Ltd.|
The demand for air circuit breakers is witnessing a constant uptrend for the past few years. This can be attributed to the rise in demand for energy storage and decentralized power systems and the growing demand for reliable power supply. Furthermore, the importance of air circuit breakers for the protection of plants from fire or explosion hazards is also supporting the growth of the air circuit market.
Air Circuit Breaker Industry Definition and Major Segments
The air circuit breaker is used to protect low voltage circuits, mainly for energizing and cutting off the high currents. Air circuit breakers are used in low voltage applications below 450V.
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Based on voltage, the air circuit breaker market is segmented as:
By type, the market is bifurcated as:
- Plain Air Circuit Breaker
- Air Blast Circuit Breaker
Based on application, the global air circuit breaker market is divided as:
Air Circuit Breaker Market Trends
The increasing use of air circuit breakers for the protection of electrical machines, transformers, plants, capacitors, and generators from short circuits is being witnessed in the market. Additionally, the rising investment in the power sector by both government and private firms is propelling the demand for air circuit breakers. The favorable government policies for the generation of renewable power are also supporting the growth of the air circuit breaker market.
Key Market Players
The major players in the air circuit breaker market are:
- ABB Ltd, Eaton Corporation PLC
- Fuji Electric Co., Ltd.
- Mitsubishi Electric Corporation
- Siemens AG
- Hitachi Industrial Equipment Systems Co., Ltd
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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