Air Circuit Breaker Market Forecasts to 2030 - Global Analysis By Type (Plain Air Circuit Breaker, Air Blast Circuit Breaker and Other Types), Voltage (Medium Voltage and Low Voltage), End User and By Geography

According to Stratistics MRC, the Global Air Circuit Breaker Market is accounted for $2.14 billion in 2023 and is expected to reach $3.44 billion by 2030 growing at a CAGR of 7.0% during the forecast period. An Air Circuit Breaker (ACB) is a type of electrical protection device that operates in air as the arc extinguishing medium. It is designed to automatically interrupt excessive current flow in an electrical circuit to prevent damage to equipment and ensure safety. ACBs are commonly used in high-voltage applications due to their ability to handle large currents. They consist of a set of contacts housed within an insulating chamber. When a fault occurs, the contacts separate, creating an arc. The arc is then extinguished by the surrounding air, which is blown by the circuit breaker's mechanisms or by using magnetic forces.

According to Bloomberg New Energy Finance (BNEF), the energy storage market is predicted to grow to cumulative 942GW by 2040, attracting an investment of USD 620 billion. According to the International Renewable Energy Agency (IRENA), the capacity for renewable energy rose by 9.6% globally in 2022. Ninety percent of the net additions came from solar and wind power, with nearly half coming from Asia, in 2022.

Market Dynamics:

Driver:

Expansion of renewable energy

The expansion of renewable energy sources, such as solar and wind power, has become a significant driver of the air circuit breaker market. As renewable energy installations increase worldwide, there's a growing need to ensure the stability and safety of the electrical grid. Air circuit breakers play a crucial role in protecting these systems from overloads and short circuits. With the intermittent nature of renewable energy generation, the demand for efficient and reliable circuit protection solutions has surged. Consequently, the expansion of renewable energy infrastructure directly correlates with the rising demand for air circuit breakers, making it a key growth factor in the market.

Restraint:

Installation and maintenance costs

Initial installation expenses involve not only the purchase of the equipment but also professional installation services, which can be considerable. Additionally, ongoing maintenance costs, including periodic inspections, repairs, and component replacements, contribute to the total cost of ownership. These expenses can deter potential buyers, especially in industries where budget constraints are a concern. Moreover, specialized expertise may be required for maintenance, adding to the overall operational costs. Therefore, while ACBs offer robust protection and control capabilities, the associated installation and maintenance expenses act as limiting factors for market adoption.

Opportunity:

Infrastructure development

The Air Circuit Breaker (ACB) market presents a significant opportunity for infrastructure development due to its crucial role in electrical systems. As industries expand and modernize, there's a growing demand for reliable power distribution and protection. Investing in ACB infrastructure facilitates the upgrade and expansion of power networks, enhancing efficiency and safety. Additionally, advancements in technology within the ACB market offer opportunities for smart grid integration and remote monitoring, optimizing maintenance and operation. By leveraging this opportunity, stakeholders can not only meet current infrastructure needs but also pave the way for sustainable and resilient power systems in the future.

Threat:

Price volatility of raw materials

The price volatility of raw materials can pose a significant threat due to its reliance on various metals like copper, aluminum, and steel. Fluctuations in the prices of these raw materials can directly impact manufacturing costs, thereby affecting the overall pricing of air circuit breakers. Manufacturers may struggle to maintain profit margins amidst unpredictable material costs, leading to potential price hikes for consumers or reduced competitiveness in the market. Additionally, supply chain disruptions caused by raw material price fluctuations can further exacerbate the challenges faced by air circuit breaker manufacturers, potentially impacting production timelines and product availability.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the Air Circuit Breaker (ACB) market due to disruptions in manufacturing, supply chains, and project delays in various industries. As lockdowns were enforced globally, demand for ACBs decreased due to stalled construction projects and reduced industrial activities. Additionally, the economic downturn led to budget cuts, impacting investments in infrastructure and electrical equipment. However, with the gradual reopening of economies and increased emphasis on infrastructure development for healthcare facilities and data centers, the ACB market is expected to witness a gradual recovery.

The plain air circuit breaker segment is expected to be the largest during the forecast period

The Plain Air Circuit Breaker segment is experiencing significant growth within the Air Circuit Breaker market due to the simplicity and reliability of plain air circuit breakers making them a preferred choice for many industrial and commercial applications. Moreover, increasing awareness about the importance of electrical safety regulations and standards is prompting industries to invest in reliable circuit protection solutions, boosting the market for plain air circuit breakers. Expansions in infrastructure projects across various sectors, such as construction, energy, and manufacturing, are fueling the need for robust electrical systems, thereby propelling the growth of this segment.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment has witnessed significant growth due to industrial sectors such as manufacturing, oil and gas, mining, and utilities heavy reliability on ACBs for efficient electrical power distribution and protection against overloads and short circuits. With the expanding industrial infrastructure, globally, the demand for ACBs has surged. Additionally, stringent safety regulations and the need for reliable power distribution systems in industrial settings have further propelled market growth. Technological advancements, such as smart ACBs with remote monitoring capabilities, have also contributed to the segment's expansion by enhancing operational efficiency and reducing downtime.

Region with largest share:

The North American region has experienced notable growth in the Air Circuit Breaker (ACB) market due to increasing investments in infrastructure projects, particularly in sectors like energy, construction, and manufacturing. Additionally, stringent regulations emphasizing safety standards have prompted industries to upgrade their electrical systems, leading to the adoption of advanced circuit breaker technologies like ACBs. Moreover, rising awareness regarding energy efficiency and the need for sustainable solutions has spurred the demand for ACBs known for their efficient operation.

Region with highest CAGR:

The Asia-Pacific region has experienced significant growth due to rapid industrialization and urbanization across countries like China, India, and Southeast Asian nations, driving the need for reliable electrical infrastructure. Additionally, efforts towards modernizing existing power grids and the expansion of renewable energy sources have bolstered the demand for ACBs. Technological advancements and a burgeoning construction sector further contribute to market expansion. Moreover, stringent safety regulations and the need for efficient energy management solutions have propelled the adoption of ACBs in various industries across the region.

Key players in the market

Some of the key players in Air Circuit Breaker market include ABB, Alfanar Group, CG Power & Industrial Solutions Ltd., Eaton Corporation, General Electric, HD HYUNDAI ELECTRIC CO., LTD., Kirloskar Electric Company, LS ELECTRIC Co., Ltd. , Mitsubishi Electric Corporation, Powell Industries, Schneider Electric, Sensata Technologies, Inc., Siemens Energy, Toshiba International Corporation and WEG.

Key Developments:

In April 2024, Advent Technologies will combine its HT-PEM fuel cell 50kW modules with Siemens Energy's electrification and automation solutions for hybrid and electric vessels. Under a multi-year joint development agreement (JDA), an integrated 500kW high-temperature PEM fuel cell solution for maritime applications will be developed.

In April 2024, Schneider Electric has undertaken an investment plan of Rs 3,500 crore to expand capacity in India and cater to the growing power demand. The investments will happen across its three major brands - Schneider Electric India, L&T Electrical and Automation, and Luminous Power Technologies - over the next couple of years.

Types Covered:

• Plain Air Circuit Breaker
• Air Blast Circuit Breaker
• Other Types

Voltages Covered:

• Medium Voltage
• Low Voltage

End Users Covered:

• Industrial
• Commercial
• Utility
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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