Gas Circuit Breaker Market is anticipated to grow at a CAGR of 4.6% throughout the period of forecast (2017 - 2027)
Global Gas Circuit Breaker Market: Dynamics Impacting Future Growth
Various aspects have contributed to the growth of the global gas circuit breaker market. Gas circuit breaker acts as an effective alternative compared to conventional methods like oil circuit breaker and fuse, increasing use of gas circuit breaker for high voltage applications, rapid industrialization, and urbanization driving the need for establishment of new transmission grids, increasing renewable energy projects and use of medium voltage circuit breakers, significant investment by the government in the power transmission and distribution sector coupled with rapid growth in these sectors, irregular flow of current in certain regions owing to poor infrastructure driving the need for protection of circuit through circuit breakers, and trend such as focus on reduction of number of interrupters, evolution of hybrid gas breakers to reduce the environmental impact of SF6, and focus on low maintenance based circuit breakers have contributed to the growth of the global gas circuit breaker market.
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Increasing penetration of alternative technologies, such as vacuum circuit breakers, stringent regulations pertaining to the use of sodium hexafluoride gas that is a major contributor to the greenhouse effect, reluctance to install new equipment and electrification projects, high cost associated with the use of SF6 gas circuit breakers, lack of standardised testing for ultra-high voltage gas circuit breakers and low replacement rate are hindering the growth of the global gas circuit breaker market.
Global Gas Circuit Breaker Market: Forecast highlights
As per the research report on the global gas circuit breaker market, the global market is anticipated to grow at a CAGR of 4.6% throughout the period of forecast to reach a valuation of more than US$ 800 Mn by the end of 2027 from a value of about US$ 518 Mn in 2017.
Global Gas Circuit Breaker Market: Segmentation Snapshot
The global gas circuit breaker market is segmented on the basis of voltage rating, by configuration, by technology, by end use and by region.
By voltage rating, above 800 kV segment is the largest segment with a high market share. However, the 252-550 kV segment is projected to grow at a high rate to register a value CAGR of 5.3% throughout the period of forecast
By configuration, single interrupter segment is a high growth segment contributing largely to the growth of the global market. It is estimated to reach a value of more than US$ 530 Mn by the end of 2027
By technology, live tank type segment is highly lucrative with high growth potential. This segment is projected to grow at a high comparatively high CAGR and also reflect a high market valuation by the end of the period of assessment, thus leading the global market
By end use, the industrial segment is expected to dominate the global market with a high market value. The commercial segment is poised to register a high value CAGR of 5.2% throughout the period of forecast
By region, Asia Pacific excluding Japan (APEJ) is the largest with high market attractiveness. The gas circuit breaker market in APEJ region is expected to grow at a high value CAGR of 5.8% during the forecast period
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Global Gas Circuit Breaker Market: Competitive Analysis
The research study on global gas circuit breaker market includes a detailed competitive assessment that includes key players such as ABB Group, General Electric, Toshiba Corporation, Hyosung Corporation, Siemens AG, Schneider Electric SE, Hitachi Ltd., Kirloskar Electric Company Ltd., CG Power and Industrial Solutions Limited, Fuji Electric Co., Ltd., HICO America, Nissin Electric Co., Ltd., Elimsan Switchgear Equipment & Electromechanical Industry And Trade Inc., New Northeast Electric Group High Voltage Switchgear Co., Ltd., Mitsubishi Electric Corporation, Koncar-Electronics and Informatics Inc., Hyundai Heavy Industries Co., Ltd., Siyuan Electric Co., Ltd., Stelmec Limited and ALSTOM SA.G
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