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Air Circuit Breaker Market Trends

  • Report ID: GMI6897
  • Published Date: Oct 2023
  • Report Format: PDF

Air Circuit Breaker Market Trends

There was a growing demand for energy-efficient air circuit breakers. As energy conservation and sustainability became paramount, ACBs designed to minimize energy losses and improve efficiency gained popularity. This was particularly important in data centers and industries where energy efficiency was a critical concern. The expansion of renewable energy sources, such as solar and wind power, drove the demand for ACBs in renewable energy installations. ACBs played a crucial role in protecting and controlling electrical circuits in renewable energy systems. ACBs found applications in smart grid systems, where they were used to protect and control electrical circuits in modern grid infrastructure.
 

The integration of ACBs with smart grid technologies contributed to improved grid reliability and efficiency. The growth of industrial sectors, especially in emerging economies, led to a rising demand for ACBs in industrial applications. ACBs were used to protect machinery and electrical equipment in manufacturing plants. For instance, the Smart Grid Investment Grant program (SGIG) in the United States aims to accelerate the modernization of existing transmission systems. Given the favorable political and economic climate, it is anticipated that smart grid deployment projects wilz see a significant increase in the coming years.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The Market size of air circuit breaker was worth USD 3.8 billion in 2023 and will record over 8.7% CAGR from 2024 to 2032.

The utility segment is expected to hold a market share of over 8.5% by 2032, owing to the phenomenon of large-scale suburban migration, coupled with supportive regulatory measures aimed at enhancing the quality of life for residents.

North America air circuit breaker market share will record 8.7% CAGR from 2023 to 2032, owing to the increasing investment in projects for refurbishment of transmission and distribution networks.

ABB, Mitsubishi Electric Corporation, Eaton Corporation, Toshiba International Corporation, Schneider Electric, CG Power & Industrial Solutions Ltd., General Electric, Siemens Energy, HD HYUNDAI ELECTRIC CO., LTD., WEG, LS ELECTRIC Co., Ltd., and Sensata Technologies, Inc.

Air Circuit Breaker Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 754
  • Countries covered: 25
  • Pages: 300
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