The global air circuit breaker market is expected to witness a significant growth during the forecast period, due to raise in power generation activities and surge in demand for sustainable power supply across the globe. The medium voltage air circuit breaker is expected to grow significantly due to its various end-use applications in industrial power & distribution, renewable, and transportation to protect & control the distribution network. Surge in demand for electricity and replacement of existing old circuit breakers further fuel the demand for air circuit breaker market. However, several disadvantages such as additional use of compressor with high air pressure which in turn aids initial set up cost, maintenance of compressors, and there are some possible air leakages in the fittings if not taken care off are the major factors that are anticipated hinder the market growth during the forecast period.
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The major factors driving the growth of the global air circuit breaker market are growing renewable power generation, rise in demand for energy storage, & decentralized power systems, and increase in requirement for secure and reliable power supply across the globe. In addition, rise in investments for development of advanced air circuit breakers that requires compressors with low air pressure is predicted to boost the market growth. Moreover, residential segment is anticipated to witness the fastest growth during the forecast period, due to rise in investments in residential construction. Furthermore, the support from government and banks through a low-interest rate for buying new properties has encouraged residential construction. In addition, high investments in the infrastructure and development of smart cities are expected to augment the global air circuit breaker market growth during the forecast period.
Asia-Pacific is expected to be the market leader for air circuit breaker during the forecast period, due to the favourable government policy of for generating renewable power and increasing investments in infrastructure in this region. The Middle East & Africa market is projected to grow at the fastest rate during the forecast period, due to rise in investments for renewable energy grid infrastructure development.
Key benefits of the report
This study presents the analytical depiction of the global air circuit breaker industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global air circuit breaker market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the market growth scenario.
The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
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Top Key Players
ABB
WEG
IPS HYUNDAI
Open Electrical
MittricSdnBhd
Eaton
Hitachi
Schneider Electric
Mitsubishi Electric
Standard Electricals
Deepika Enterprises
Gamma
Rittal
COVID-19 scenario analysis
The virus outbreak has forced government to undertake actions such as imposing travel restriction and temporary shutdown of manufacturing plants in order to curb the spread of virus. These restrictions have disrupted supply chains and have forced air circuit breaker manufacturers to close down their manufacturing plant. The air circuit breakers are mainly used in industries but shut down of industries globally has impacted negatively on the market due to wide spread coronavirus. The emergence of COVID-19 is changing the global value delivery models, with unprecedented consequences for manufactures and supply chains. To mitigate the effect ofCOVID-19on manufacturers and supply chains, new approaches and new ways of collaboration are required to boost overall growth.
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