Air Circuit Breaker Market Latest Trends, Industry Size, Major Segments and Competitive Landscape Forecast To 2028, Fortune Business Insights

According to the report, The global air circuit breaker market size is projected to reach USD 4.90 billion by 2027, exhibiting a CAGR of 5.8% during the forecast period. The market is expected to experience subdued growth in 2020 owing to the COVID-19 outbreak. However, increasing production of energy from renewable sources will be a key factor driving the growth of this market till 2027, enumerates Fortune Business Insights™ in its new report, titled "Air Circuit Breaker Market Size, Share & Industry Analysis, By Type (Air Blast Circuit Breaker and Plain Air Circuit Breaker), By Voltage (Low Voltage and Medium Voltage), By End User (Utility, Industrial, Commercial, and Others), and Regional Forecast, 2020-2027".

The global air circuit breaker market size was USD 3.24 billion in 2019 and is projected to reach USD 4.90 billion by 2027, exhibiting a CAGR of 5.8% during the forecast period.

According to the International Energy Agency (IEA), renewable energy sources account of the world's total electricity production currently and in the next five years, electricity generation from renewables is likely to expand by 50% from current levels. Powered by a resurgence in solar energy, the IEA predicts that by 2024, global solar capacity is set to rise sharply by 600 GW, while the overall renewable electricity capacity is poised to grow by 1,200 GW in the coming five years. This promising rise in renewables bodes well for the ACB market growth as air circuit breakers (ACBs) play a central role in load management in power plants, protecting these facilities from short circuits, over and under-voltage, and service downtime.

The report also contains the following:

Panoramic overview of the overall industry outlook;
Comprehensive study of the trends, drivers, and restraints shaping the market;
In-depth analysis of the market segments; and
Exhaustive examination of the regional developments and competitive landscape characterizing the market.

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List of Players Profiled in the Air Circuit Breaker Market Report are:

CBI-electric Group (United States)
WEG (Brazil)
Legrand (France)
Fuji Electric (Japan)
Eaton (Ireland)
GE (United States)
Siemens (Germany)
Hitachi Industrial Equipment Systems Co., Ltd. (Japan)
Larsen & Toubro (India)
Terasaki Electric Co. Ltd (Japan)
Mitsubishi Electric (Japan)
Hyundai Electric & Energy Systems Co., Ltd. (South Korea)
Schneider Electric (France)
ABB (Switzerland)
Market Restraint

Unhindered Spread of the Coronavirus Worldwide to Stall Market Growth

The sudden outbreak of the COVID-19 contagion has deeply injured global economic prospects and has brought all forms of economic activities to a virtual standstill. To contain the spread of the infection, governments around the world have imposed strict lockdowns, halted business activities, and enforced social distancing norms. This has severely impacted the power sector as disruptions in manufacturing and construction activities have diminished the demand for electricity, which in turn has negatively affected the air circuit breaker market growth. For example, in India, data from the National Load Dispatch Center revealed that peak power demand has reduced by 46,000 MW since mid-March. Furthermore, the IEA has reported that renewable energy projects have also come to an abrupt halt as labor in countries such as India and USA are unable to work due to the lockdown measures.

Regional Analysis

Heightening Energy Demand to Propel the Market in Asia-Pacific

Asia-Pacific, with revenue generation of USD 1.02 billion in 2019, is anticipated to command the air circuit breaker market share in the forthcoming period on account of high population growth, which translates to even higher demand for energy. Moreover, in India and China, investments in the power sector from the government and private companies are gathering steam, which is likely to spike the adoption of ACBs in these countries. In North America, the prospects appear lucrative for the market owing to increasing demand for advanced electrical equipment and machineries from the manufacturing sector in the region. On the other hand, the market in Europe will be primarily driven by the attractive investment options in region's strong transmission and distribution infrastructure.

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Competitive Landscape

Expansion of Portfolio to Remain Key Focus for Market Players

The competitive landscape of this market is bustling with different companies having diverse portfolio of products and solutions. Most of these companies are looking to expand their current range of offerings to further entrench their position in the market and broaden their sales horizons by exploring under-penetrated, rapidly developing regional markets.

Industry Developments:

November 2019: Siemens added a more compact version to its HB3 generator circuit-breakers product series called the HB3 Compact (HB3-C). The new solution allows vertical and horizontal mounting and utilizes a vacuum technology that does not require maintenance, making it an ideal choice for retrofitting in power plants.
February 2019: Schneider Electric launched its innovative high-power low-voltage circuit breaker solutions, Masterpact MTZ, in India. It is a first-of-its-kind air circuit breaker to be introduced in the country, offering enhanced safety, reliability, and performance. Through this launch, Schneider aims at enlarging its footprint in the fledgling power sector of India.

Market Segmentation:

1. By Type

Air Blast Circuit Breaker
Plain Air Circuit Breaker

2. By Voltage

Low Voltage
Medium Voltage

3. By End User

Utility
Industrial
Commercial
Others

4. By Geography

North America (U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe)
Asia-Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia- Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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Detailed Table of Content

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends - For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis - Impact of COVID-19
Impact of COVID-19 on the Circuit Breaker Industry
Steps Taken by the Government to Overcome the Impact
Key Developments in the Industry in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Air Circuit Breaker Market Analysis (USD Billion), Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast - By Type
Air Blast Circuit Breaker
Plain Air Circuit Breaker
Market Analysis, Insights and Forecast - By Voltage
Low Voltage
Medium Voltage
Market Analysis, Insights and Forecast - By End-User
Utility
Industrial
Commercial
Others
Market Analysis, Insights and Forecast - By Region
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
TOC Continued..!!!

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