Air Circuit Breaker Market Expected to Reach $3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Air Circuit Breaker Market," The air circuit breaker market was valued at $1.8 billion in 2022, and is estimated to reach $3 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.

An air circuit breaker (ACB) is an essential part in electrical systems intended to protect circuits against overloads and short circuits. It functions by automatically cutting off the flow of electricity when unusual circumstances occur, preventing equipment damage and safeguarding the security of the overall electrical system. ACBs are used in commercial, industrial, and residential settings to protect against overloads and short circuits in electrical circuits.

In addition, they are crucial parts of power distribution systems, which ensure the dependability and safety of electrical networks. They help to minimize downtime and avoid equipment damage, which makes it easier for electrical installations to operate without any difficulty.

The wide application of ACBs in different end-use industries such as transportation, construction, and petrochemical are expected to drive air circuit breaker market growth. Air circuit breakers are crucial parts of electrical protection in the transportation sector, especially in railroads and electric vehicles (EVs). ACBs protect the power distribution networks on board trains and at railway stops in rail systems. They are essential in blocking electrical circuits in the event of overloads or malfunctions, protecting against equipment damage, and assuring the security of both passengers and staff, leading to rise in the air circuit breaker market forecast.

The on-board electrical systems of electric vehicles are not complete without ACBs, which offer dependable protection against short circuits and other electrical anomalies. In addition, ACBs help ensure that electric vehicles operate safely and effectively as the transportation industry electrifies itself.

Air circuit breakers are essential parts of electrical distribution panels in the construction sector, which uses a variety of electrical gear and equipment. These breakers protect against electrical problems on construction sites caused by power tool usage, heavy machinery operation, or temporary electrical installations. These are appropriate for handling the large currents connected to construction machinery owing to their strong interrupting capabilities. Furthermore, their capacity to cut circuits also contributes abruptly and forcefully to overall job site safety and operational effectiveness by protecting expensive machinery and guaranteeing the safety of construction workers.

In petrochemical facilities, air circuit breaker market analysis shows that these breakers are often used to safeguard vital electrical infrastructure. These breakers are essential for protecting against the risks connected to combustible products and unpredictable settings. ACBs quickly cut off circuits in the event of an electrical malfunction, avoiding possible fires or explosions. Thus, utilization of ACBs in various end-use industries is expected to drive air circuit breaker market size.

The market expansion of air circuit breakers is limited by the rise in competition from alternative technologies including vacuum circuit breakers (VCB), gas insulated switchgear (GIS) and solid-state circuit breakers that provide unique benefits and address specific challenges. These alternatives provide benefits such as improved performance, compact design, and less maintenance. VCBs and GIS offer dependable circuit interruption in a more space-efficient and compact package compared to typical air circuit breakers.

The air circuit breaker market share is further challenged by developments in solid-state circuit breaker technologies. Solid-state circuit breakers regulate and cut off electrical currents by using power electronics and semiconductor devices. These innovative options are desirable in circumstances where precision and rapid switching are essential as they provide lower wear and tear, better controllability, and faster response times. Thus, air circuit breaker industry is restricted in its expansion by the availability of alternative technologies.

The air circuit breaker market has a significant amount of opportunity to expand as due to the ageing electrical infrastructure in many different industries. There is an increased likelihood of errors and failures with ageing electrical systems and components as they are more prone to wear and deterioration. This has compelled industries to evaluate and modernize their existing infrastructure to ensure stability, security, and compliance with modern standards.

Air circuit breakers are necessary to revitalize and update electrical distribution networks. The resilience and dependability of air circuit breakers in meeting the needs of ageing infrastructure is one of their primary advantages. Devices for circuit protection that stop malfunctioning currents and protect the system have become necessary as electrical networks and equipment age. ACBS are becoming more prevalent for retrofitting and modernizing ageing electrical systems owing to their great performance and established endurance.

Moreover, upgrading the safety and effectiveness of existing facilities without requiring a total redesign is possible at a reasonable cost by retrofitting air circuit breakers. As air circuit breakers are modular in nature, they are easily integrated into older switchgear assemblies, providing a smooth transition to more modern circuit protection technology. These are a sensible option for companies seeking to increase the lifespan of their electrical infrastructure while reducing installation costs and downtime due to their versatility. Thus, the ageing electrical infrastructure increased the air circuit breaker market opportunities.

The air circuit breaker market is segmented on the basis of type, voltage, application, and region. On the basis of type, the market is classified into plain air circuit breaker, air blast circuit breaker, magnetic blowout, and air chute circuit breaker. The air blast circuit breaker segment is further divided into axial blast air circuit breaker, cross blast air circuit breaker, and radial blast air circuit breaker. By voltage, the market is categorized into low voltage and high voltage. Depending on application, the market is classified into industrial, commercial, and residential. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of the type, the air circuit breaker market is classified into plain air circuit breaker, air blast circuit breaker, magnetic blowout, and air chute circuit breaker. The plain air circuit breaker is projected to be the fastest-growing segment and has garnered the highest share in the air circuit breaker market.

On the basis of the voltage, the air circuit breaker market is classified into low voltage and high voltage. The low voltage is projected to be the fastest-growing segment and has garnered the highest share in the air circuit breaker market.

On the basis of the application, the air circuit breaker market is classified into industrial, commercial, and residential. The industrial is projected to be the fastest-growing segment and has garnered the highest share in the air circuit breaker market. Region-wise, Asia-Pacific is projected to register robust growth during the forecast period.

The major players operating in the global air circuit breaker market are ABB, alfanar Group, CNC ELECTRIC GROUP CO., LTD., Eaton, Havells India Ltd., Hitachi, Ltd., Mitsubishi Electric Corporation, Schneider Electric, Siemens, and WEG. These players have adopted business expansion, partnership, and product launch as their key strategies to increase their market shares.

Other players include CHINT Group, Fuji Electric Co., Ltd., General Electric, Hager Group, L&T Electrical & Automation, Legrand, and Noark Electricrope s.r.o.

Key Findings Of The Study:

• The report outlines the current air circuit breaker market trends and future scenario of the market from 2023 to 2032 to understand the prevailing opportunities and potential investment pockets.
• The market size is provided in terms of revenue.
• On the basis of the type, the plain air circuit breaker segment is expected to grow at a CAGR of 6.1%, in terms of revenue, during the forecast period.
• On the basis of the voltage, the low voltage segment is expected to grow at a CAGR of 5.9%, in terms of revenue, during the forecast period.
• Depending on the application, the industrial segment is expected to grow at a CAGR of 5.8%, in terms of revenue, during the forecast period.
• Region-wise, Asia-Pacific garnered the highest share in 2022 in terms of revenue.