Dublin, July 12, 2023 (GLOBE NEWSWIRE) -- The "Global AC Circuit Breaker Market by Insulation Type (Air, Gas, Vacuum), Voltage (Medium, High, Very-high), Installation (Indoor, Outdoor), End-Use Industry (Transmission & Distribution Utilities, Power Generation, Industrial) & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global AC circuit breaker market, valued at USD 4.1 billion in 2023, is projected to reach USD 5.3 billion by 2028, with a compound annual growth rate (CAGR) of 5.3% during the forecast period.
One of the key drivers of this growth is the increased investment in industrial production, which is fueling the demand for AC circuit breakers. The industrial sector, in particular, is expected to be the largest-growing market segment from 2023 to 2028.
As the demand for electric power continues to rise, investments in transmission and distribution infrastructures have increased. Companies are now focusing on integrating smart utility solutions to enhance protection and reduce energy losses, leading to a greater demand for AC circuit breakers in the industrial sector.
Among the insulation types, the air-insulated segment holds the third-largest market size. Air AC circuit breakers are commonly used in low- and medium-voltage applications, where they provide overcurrent and short circuit protection. To extinguish electric arcs formed during circuit disconnections, air is used as the arc quenching medium. The air-insulated segment is expected to witness steady growth during the forecast period.
Furthermore, the very-high voltage segment is also projected to hold a significant market share. These AC circuit breakers are crucial for high-voltage circuits, which require reliable switching operations. With the growing electrification and integration of renewables in the national grid, there is an increasing need to upgrade transmission and distribution infrastructure. The demand for very high-voltage AC circuit breakers is expected to surge in the coming years.
North America emerges as the second fastest and third largest-growing region in the global AC circuit breaker market. The region has witnessed consistent growth due to the rising need for dependable electrical distribution systems across residential, commercial, and industrial sectors.
As the construction industry continues to expand, the demand for circuit breakers in residential applications is anticipated to rise. The commercial and industrial sectors also contribute significantly to the market, as robust electrical systems are essential for various operations.
As the market continues to evolve, key players in the AC circuit breaker market are focusing on research and development activities to enhance product performance and meet the evolving customer demands.
Competitive landscape
The AC circuit breaker market is dominated by a few major players that have a wide regional presence. The leading players in the AC circuit breaker market are Eaton (Ireland), ABB (Switzerland), Schneider Electric (France), Siemens (Germany), and Mitsubishi Electric (Japan).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 266 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $4.1 Billion |
| Forecasted Market Value (USD) by 2028 | $5.3 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Growing Investments in Power Generation from Renewable Energy Sources
- Increasing Capacity Additions and Enhancements for T&D Networks
- Strengthening of Power Distribution Infrastructure
- Increased Investments in Industrial Production
Restraints
- Regulations Restricting Sf6 Gas Emissions
- Competition from Unorganized Sector
Opportunities
- Emerging Smart Technologies and Digitalization
- Growing Usage of High-Voltage Direct Current Systems
- Replacement of Aging Grid Infrastructure and Need for Reliable T&D Networks
Challenges
- Risk of Cybersecurity Attacks and Installation of Modernized Circuit Breakers
- High Temperature, Arc Flashing, and Overpressure During Operation
- Trends/Disruptions Impacting Customer Business
- Revenue Shift and New Revenue Pockets for Ac Circuit Breaker Providers
Value Chain Analysis
- Raw Material Providers/Suppliers
- Component Manufacturers
- Ac Circuit Breaker Manufacturers/Assemblers
- Distributors (Buyers)/End-users
- Post-Sales Service Providers
Case Study Analysis
- Circuit Breakers for Energy Market
- ABB Introduced Sace Emax (Low Voltage Air and Molded-Case Circuit Breakers) to Transform Energy Market
- Schneider Engineers Shrank Their Design by 25% with Enventive Concept
Company Profiles
Key Players
- ABB Ltd.
- Siemens Limited
- Schneider Electric
- Eaton
- Mitsubishi Electric
- General Electric
- Rockwell Automation
- Brush Group
- Hd Hyundai Electric Co., Ltd.
- Chint Electrics
- Suntree Electric Group Co., Ltd.
- Toshiba Corporation
- Shanghai Liangxin Electric Co., Ltd.
- Secheron Hasler Group
- Panasonic Corporation
Other Players
- Fuji Electric
- Powell Industries
- Legrand
- Alstom
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/9bwd89
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