The Global Air Circuit Breaker Market size is expected to reach $4.5 billion by 2030, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,921.5 thousand units, experiencing a growth of 5.8% (2019-2022).
Europe has a robust regulatory framework focused on electrical safety and environmental standards. Consequently, the European region generated $775.4 million revenue in the market in 2022. This commitment to safety has led to the increased adoption of advanced air circuit breakers with enhanced protection features, making them an integral component of electrical distribution systems in the region. Compliance with stringent regulations has driven the market's growth as businesses and industries prioritize safety and adhere to standards like IEC (International Electrotechnical Commission) and EN (European Norms). Therefore, these aspects will help in the expansion of the Europe segment in the coming years.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, Schneider Electric SE announced a partnership with UL Solutions to help Schneider in providing its customers with solutions to attain their environmental, social, and governance (ESG) goals. Additionally, In April, 2023, Siemens AG signed a partnership with IBM to develop software solutions for systems engineering. The solutions would help the customers to reduce product development costs and drive nonstop innovation.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation PLC, Hitachi, Ltd., Fuji Electric Co. Ltd., Toshiba Corporation, ENTEC Electric & Electronic Co. Ltd, and Havells India Ltd.
Europe has a robust regulatory framework focused on electrical safety and environmental standards. Consequently, the European region generated $775.4 million revenue in the market in 2022. This commitment to safety has led to the increased adoption of advanced air circuit breakers with enhanced protection features, making them an integral component of electrical distribution systems in the region. Compliance with stringent regulations has driven the market's growth as businesses and industries prioritize safety and adhere to standards like IEC (International Electrotechnical Commission) and EN (European Norms). Therefore, these aspects will help in the expansion of the Europe segment in the coming years.
The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, Schneider Electric SE announced a partnership with UL Solutions to help Schneider in providing its customers with solutions to attain their environmental, social, and governance (ESG) goals. Additionally, In April, 2023, Siemens AG signed a partnership with IBM to develop software solutions for systems engineering. The solutions would help the customers to reduce product development costs and drive nonstop innovation.
Cardinal Matrix
Market Competition Analysis
Based on the Analysis presented in the Cardinal Matrix; Hitachi, Ltd., Siemens AG and Schneider Electric SE are the forerunners in the Market. Companies such as ABB Group, Mitsubishi Electric Corporation and Eaton Corporation PLC are some of the key innovators in the Market. In January, 2021, ABB Group signed a partnership with Surat Municipal Corporation to support its goal of achieving a clock water supply. The partnership supports the local Government’s Smart City vision and reinforces ABB's commitment to providing its customers around the globe with top-notch power transition solutions.
Market Growth Factors
Rising need for a reliable power supply in various sectors
Industries and businesses rely heavily on continuous and uninterrupted power supplies. Any power interruption can result in significant financial losses due to downtime, damage to equipment, and disrupted operations. ACBs are designed to detect and clear electrical faults quickly, preventing power outages and minimizing business interruptions. This reliability makes ACBs a vital component in industrial and commercial settings. ACBs safeguard critical infrastructure, such as power generation plants, transportation networks, healthcare facilities, and data centers. These facilities require an uninterrupted power supply to ensure public safety and continued operations. ACBs are integral to maintaining the reliability of power distribution systems in these settings. These factors are expected to drive the expansion of the market.Rapid urbanization and the ongoing infrastructure development projects
As cities expand and urbanization continues, there is an ever-growing demand for building infrastructure, including residential complexes, commercial spaces, and industrial facilities. These structures require reliable electrical distribution systems to function efficiently, as uninterrupted power is essential for modern living and business operations. ACBs play a pivotal role in urban electrical grids. With the increase in urbanization, governments and regulatory bodies often introduce stricter safety regulations related to electrical systems in buildings. Compliance with these regulations typically requires the installation of high-quality ACBs to protect against electrical faults. This regulatory aspect drives the demand for ACBs in urban construction projects. Therefore, these factors will propel the future demand for air circuit breakers.Market Restraining Factors
Intense competition in the market
Price wars and aggressive competition often lead to downward pressure on prices. Manufacturers may reduce prices to secure market share and remain competitive, resulting in thinner profit margins. When profit margins are squeezed, manufacturers may find investing in research and development for innovative product features and improvements challenging. In an intensely competitive market, some manufacturers may reduce costs in areas such as customer support and technical assistance. This can result in a lack of post-sale support, making it more challenging for end-users to maintain and troubleshoot their air circuit breakers effectively. These factors are expected to restrain the growth of the market in the coming years.The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
Type Outlook
Based on type, the market is segmented into plain air circuit breaker and air blast circuit breaker. In 2022, the plain air circuit breaker segment garnered a significant revenue share in the market. Plain air circuit breakers are valued for their simplicity and reliability. They are well-suited for applications where uncomplicated and robust protection is required. This is particularly advantageous in industries and regions with limited access to advanced technologies or resources. The cost-effectiveness of plain air circuit breakers is one of the main factors contributing to their ongoing rise. They are often more affordable than alternative technologies such as vacuum or SF6 circuit breakers. This makes them an attractive choice for budget-conscious projects, especially in developing economies. Therefore, there will be enhanced demand in the segment.
Voltage Outlook
On the basis of voltage, the market is bifurcated into low-voltage and medium-voltage. The low-voltage segment recorded the maximum revenue share in the market in 2022. Low-voltage air circuit breakers are designed to operate at voltages below 1000 volts AC (alternating current). They protect against overcurrent and short-circuit conditions in electrical systems operating at these voltage levels. These breakers are widely used in commercial, industrial, and residential applications where the electrical load demands are lower but require reliable protection. Owing to these factors, the demand in the segment is expected to grow.Application Outlook
Based on application, the market is divided into industrial, commercial, and residential. The industrial segment recorded the maximum revenue share in the market in 2022. The global industrial landscape is experiencing continuous growth and transformation. Emerging economies are rapidly industrializing, and established industrial regions are constantly evolving. This industrial expansion requires robust and reliable electrical distribution systems, making air circuit breakers necessary. Therefore, the demand in the segment will increase in the coming years.Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the highest revenue share in the market in 2022. Asia Pacific has a robust industrial and commercial landscape, with a significant presence of manufacturing, data centers, commercial complexes, and critical infrastructure. The growing need for electrical protection and reliable power distribution in these sectors has increased demand for air circuit breakers. Industries such as automotive manufacturing, oil and gas, and semiconductor production have contributed significantly to this growth. The segment will witness increased growth in the coming years due to these aspects.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation PLC, Hitachi, Ltd., Fuji Electric Co. Ltd., Toshiba Corporation, ENTEC Electric & Electronic Co. Ltd, and Havells India Ltd.
Strategies deployed in the Market
Partnerships, Collaborations, and Agreements:
- May-2023: Schneider Electric SE announced a partnership with UL Solutions, a leader in applied safety science, to provide its customers with access to inspection and testing services. The partnership aids Schneider in providing its customers with solutions to attain their environmental, social, and governance (ESG) goals.
- Apr-2023: Siemens AG signed a partnership with IBM, an American technology company, to develop software solutions for systems engineering. The solutions would help the customers to reduce product development costs and drive nonstop innovation.
- Oct-2022: Siemens AG entered a partnership with Eplan, an electrical engineering software solutions provider, to provide optimized solutions for switchgear manufacturers and electrical planners. The solutions developed in the course of the partnership would enable the customers to accelerate their workflows.
- Jun-2022: Schneider Electric SE partnered with Hitachi Energy, a Swiss technology company, to provide their customers with energy transition solutions. The two companies would ensure benefits for customers in terms of operational life cycle and enhanced efficiencies.
- Jun-2021: Mitsubishi Electric Corporation signed an agreement with Siemens Energy, an energy development company, to explore the feasibility of joint development of high-voltage switching solutions with zero global warming potential (GWP). With the partnership, the two companies would be able to provide their customers with climate-neutral high-voltage switching solutions.
- Jun-2021: Toshiba Corporation partnered with Meidensha Corporation, a motors and generators company, to develop and market gas-insulated switchgear (GIS) for 72kV/84kV. The partnership would help several countries around the world to achieve their carbon-neutral goals.
- Jan-2021: ABB Group signed a partnership with Surat Municipal Corporation to support its goal of achieving a clock water supply. The partnership supports the local Government’s Smart City vision and reinforces ABB's commitment to providing its customers around the globe with top-notch power transition solutions.
Product Launches and Product Expansions:
- Nov-2022: Siemens AG released HB1-Compact (HB1-C), a compact generator circuit-breaker. The product is customizable and leverages maintenance-free vacuum switching technology to address the most challenging of constraints. Additionally, the product comes in L-shape and I-shape designs and is compatible with both vertical and horizontal mounting.
- Sep-2022: ABB Group introduced SACE Infinitus, a solid-state circuit breaker used for protecting and controlling DC network architectures for ships of all types and sizes. The SACE Infinitus features switching, energy meter, protection, isolator, and smart connectivity module and can be fitted into standard 600-mm electrical cabinets.
- Aug-2022: Hitachi, Ltd. released EconiQ 420 kV circuit-breaker, an eco-efficient 420-kilovolt (kV) circuit-breaker. The EconiQ 420 kV circuit-breaker plays a key role in removing sulfur hexafluoride (SF6), a greenhouse gas over long-distance electricity transmission.
- May-2022: Schneider Electric SE announced the launch of the new SureSeT MV switchgear. The SureSeT MV switchgear features an EvoPacT circuit breaker and would offer several benefits to the users including operational insights for remote access, longer operational cycle, etc.
- Jan-2021: ABB Group released Formula DIN-Rail, a suite of Miniature Circuit Breakers (MCBs) for the Indian electrical market. The Formula DIN-Rail provides optimum protection to electrical circuits from possible damage due to overloads by leveraging its contemporary design.
Acquisition and Mergers:
- Aug-2023: Hitachi, Ltd. announced the acquisition of COET S.p.A., a power equipment manufacturer. The acquisition strengthens Hitachi Energy's capability in providing power grids and energy infrastructure solutions.
- May-2023: ABB Group took over the low voltage NEMA motor business of Siemens, a German Automation company. The acquisition strengthens ABB’s capability in providing industrial NEMA motors.
- Feb-2023: Mitsubishi Electric Corporation signed an agreement to acquire Scibreak AB, a Swedish direct current circuit breakers (DCCBs) manufacturer. The acquisition strengthens Mitsubishi Electric's HVDC system business.
- Feb-2022: Mitsubishi Electric Corporation acquired Computer Protection Technology, Inc., a UPS maintenance company. The acquisition aids Mitsubishi Electric in expanding its UPS business in the North American market.
- Aug-2021: Mitsubishi Electric Corporation took over Smarter Grid Solutions, a distributed energy resources (DER) management software provider. The acquisition complements Mitsubishi Electric's suite of grid control products and would facilitate them to provide their customers with flexible electric grid solutions.
Geographical Expansion:
- Jun-2023: Eaton Corporation PLC announced the expansion of its electrical plant. The expanded area features a centralized warehouse housing all of Eaton's power distribution products and a customer experience centre that would allow customers to directly engage with the products being manufactured on-site.
Scope of the Study
Market Segments Covered in the Report:
By Application (Volume, Thousand Units, USD Billion, 2019-2030)- Industrial
- Commercial
- Residential
- Air Blast Circuit Breaker
- Plain Air Circuit Breaker
- Low-Voltage
- Medium-Voltage
- North America
- US
- Canada
- Mexico
- Rest of North America- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Schneider Electric SE
- Siemens AG
- Mitsubishi Electric Corporation
- Eaton Corporation PLC
- Hitachi, Ltd.
- Fuji Electric Co. Ltd.
- Toshiba Corporation
- ENTEC Electric & Electronic Co. Ltd
- Havells India Ltd.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Air Circuit Breaker Market, By Application
Chapter 6. Global Air Circuit Breaker Market, By Type
Chapter 7. Global Air Circuit Breaker Market, By Voltage
Chapter 8. Global Air Circuit Breaker Market, By Region
Chapter 9. Company Profiles
Companies Mentioned
- ABB Group
- Schneider Electric SE
- Siemens AG
- Mitsubishi Electric Corporation
- Eaton Corporation PLC
- Hitachi, Ltd.
- Fuji Electric Co. Ltd.
- Toshiba Corporation
- ENTEC Electric & Electronic Co. Ltd
- Havells India Ltd.
Methodology
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