The Air Circuit Breaker market is projected to grow at a CAGR of 6 % to reach USD 6.2 billion by 2026 from 4 billion in 2019. Increasing growth in renewable energy and demand for safe reliable and secure power has significantly contributed to the growth of this market. Air Circuit Breaker (ACB) is used in electric circuits to provide protection under faulty conditions such as short-circuits. The primary function of an Air Circuit breaker is to interrupt the current flow after a fault is detected. The growth of the air circuit breaker market has also been due to aging infrastructure, the advent of smart cities, and grid modernization.
The research report analyses the ecosystem of Air Circuit Breaker and categorizes the Air Circuit Breaker Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
In terms of the type of circuit breaker, the air blast circuit breaker segment is estimated to be the largest segment during the forecast period
The different types of Air circuit breakers include the Air Blast Circuit Breaker and Plain Air Circuit Breaker. The Air Blast Circuit Breaker market is projected to be the largest, segment on account of growing demand from the Asia Pacific Region. These are also preferred over oil circuit breakers as there is no risk of fire hazards and they also facilitate high-speed re-closure. Airblast circuit breakers require less maintenance and are also suitable for frequent operation.
The low voltage segment is expected to be the biggest contributor to Air Circuit Breaker market in the forecast period
The market has been segmented based on voltage range into low and medium voltage. The low voltage segment accounts for the largest share as it finds high application in end-use industries, such as industrial equipment, manufacturing industries, power plants, and distribution utilities. The market is also growing on account of the growing demand for replacements and retrofits from aging utility power transmission equipment.
The industrial application was the largest market during the forecast period
The industrial segment of the air segment market was the largest market on account of the increasing demand for air circuit breakers from the manufacturing and process industries. Air circuit breakers also find applications in industrial plants and electrical machines such as capacitors, generators, and transformers, etc.
Asia-Pacific is expected to be the fastest-growing segment in the forecast period
The Asia Pacific accounted for the largest share of the Air Circuit Breaker market. It is also the fastest-growing segment. The region is also projected to witness a higher product demand in the coming years on account of increasing consumption in end-user industries. Key Air Circuit Breaker markets in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia.
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.