Air Circuit Breaker Market to Reach $4.90 Billion by 2027; Increasing Number of Commercial Spaces in Urban Areas to Aid Market Expansion

The global air circuit breaker market size is anticipated to hit USD 4.90 billion by 2027 owing to high demand for efficient energy storage technologies across industries. This information is contained in the recent Fortune Business Insights™ 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”. According to the report, the market value was at USD 3.24 billion in 2019 and is expected to register a CAGR of 5.8% from 2020 to 2027.

However, the COVID-19 outbreak is likely to impact the growth of the market in 2020. The unprecedented global health and economic crisis created by the coronavirus pandemic has severely crippled core industries around the world and the worst-hit of these is the power industry. Imposition of lockdowns and suspension of non-essential businesses has deflated the demand for electrical equipment such as air circuit breakers (ACBs), thus hampering the ACB market growth.

Siemens Inks Deal to Acquire C&S Electric for INR 2,100 Crore

In January 2020, Siemens entered into an agreement to take over C&S Electric, the New Delhi-based electrical and electronic equipment manufacturer. With an aim to strengthen its position in one of the world’s most lucrative markets, this acquisition will enable Siemens to become a leading player in low-voltage power distribution and electrical infrastructure in India. Valued at approximately INR 2,100crore, the takeover will provide Siemens access to C&S’s protection and metering devices, low- and medium-voltage power bus-bars, and low-voltage switchgear components and panels. Such acquisitions of major regional players by companies from western developed countries are one of the most exciting trends that are fast-emerging in this market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/air-circuit-breaker-market-102053

Accelerated Pace of Urbanization Worldwide to Bolster Market Prospects

Urban agglomerations around the world are increasing and expanding at a furious pace. According to the UN Department of Social and Economic Affairs (DESA), around 55% of the world’s population currently resides in urban areas. By 2050, nearly 70% of the global population will be housed in urban clusters. In Asia, the DESA reports, half of the population will be situated in urban areas in 2020, while Africa will experience same percentage of urban dwellers as Asia by 2035. Such quickening pace of urbanization in some of the most populated regions in the world will inevitably put enormous pressure on power grids and create skyrocketing demand for advanced equipment to efficiently manage the surging load on power plants.      

Geographic Expansion through Acquisitions to Excite Market Spirits

Analysis of the ACB market signals a period of intense competition in this market as major players engage in acquisition activities. Strategic takeovers are enabling market companies to enter and establish themselves in promising and lucrative regions, especially regions where industrial activities are strong and where manufacturing infrastructure is well-established. In response, companies are introducing their offerings through regional players to meet the escalating demand for efficient electrical machineries and equipment such as ACBs in such regions.

Industry Developments:

• July 2019: Eaton Corporation, the Irish power management giant, successfully acquired the US-domiciled Innovative Switchgear Solutions, a company known for providing medium-voltage electrical equipment to the industrial, commercial, and utility markets in North America.

List of Companies Covered in the Air Circuit Breaker Market Report:

• 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)


• CBI-electric Group (United States)


• WEG (Brazil)


•  Legrand (France)


• Fuji Electric (Japan)


• Eaton (Ireland)


• GE (United States)


• Siemens (Germany)

Further Report Findings:

• The utility segment held 37.2% of the market share in 2019 and is likely to continue its dominance owing to extensive utilization of ACBs in power plants and substations.


• Asia-Pacific is expected to dictate the air circuit breaker market share with a market size of USD 1.02 billion in 2019. This is mainly attributable to the growing adoption of advanced ACBs to prevent short-circuits and fire hazards in industrial plants and electricity generation and distributions facilities.


• High demand for reliable and consistent power supply from oil & gas companies in the Middle East & Africa will propel the market in this region.

Table of Segmentation: