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Asia Pacific Circuit Breaker Market Analysis

  • Report ID: GMI6861
  • Published Date: Oct 2023
  • Report Format: PDF

Asia Pacific Circuit Breaker Market Analysis

Asia Pacific Circuit Breaker Market Size, by Voltage, 2021 - 2032, (USD Billion)

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Asia Pacific Low voltage circuit breakers market was worth over USD 4 billion in 2022 and is anticipated to reach USD 12.4 billion by 2032. Government-led electrification projects aimed at extending access to electricity in rural areas are fostering a substantial demand for reliable low voltage circuit breakers. Simultaneously, the escalating trend towards industrial automation and Industry 4.0 is fueling the need for advanced circuit breakers capable of safeguarding intricate manufacturing processes and sensitive industrial machinery. Moreover, the pressing need to replace outdated electrical infrastructure and upgrade to modern, efficient circuit breakers is driving investments in infrastructure improvement projects.

 

Asia Pacific Circuit Breaker Market Revenue Share, By Rated Voltage, 2022

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Circuit breakers with < 500V voltage rating are valued at over USD 2.7 billion in 2022 and is expected to reach USD 8.2 billion by 2032. The escalating demand for data centers and the digitalization of businesses are fueling the need for reliable power distribution and backup systems, making low-voltage circuit breakers integral components in ensuring uninterrupted operations. The burgeoning construction of smart cities and infrastructure projects across the region, driven by urbanization and the need for sustainable urban development, necessitates advanced low-voltage circuit breakers to provide efficient and safe electrical networks.

 

Circuit breakers with < 500A current rating across Asia Pacific region obtained a market share of over 31% in 2022 and is estimated to grow at a CAGR of over 11% through 2032. This growth can be attributed to the construction of residential and commercial buildings. These breakers play a crucial role in distributing and safeguarding low-voltage circuits within these structures. Moreover, the increasing emphasis on safety and protection in electrical systems fuels demand for these technologies, as they provide features like overload protection, short-circuit protection, fault detection, and ensure the safety of equipment and personnel across industrial areas.

 

Outdoor installation held about 63% of the Asia Pacific Circuit breaker market share in 2022 and is slated to cross USD 14 billion by 2032. This supremacy is attributed to the expansion of utility-based transmission network and the growing adoption of on-site generation technologies. The increasing prevalence of these systems, coupled with the necessary infrastructure, is a key driver for the demand for outdoor circuit breakers. Furthermore, outdoor installations are preferred due to their reduced risk of fault escalation and relatively lower initial capital expenses, which further boost the increasing demand for these products.

 

Asia Pacific Circuit breaker market is likely to register at a 10.5% CAGR from 2023 to 2032. Circuit breakers are renowned for their exceptional reliability and performance, making them the preferred choice for power distribution networks. Their ability to rapidly and effectively interrupt fault currents ensures the uninterrupted and dependable supply of electricity, making them highly sought-after. These devices play a pivotal role in swiftly addressing faults such as short circuits and overloads within power distribution systems.

 

The residential sector plays a pivotal role in propelling the Asia-Pacific circuit breaker market growth. The construction of new residential structures, including houses, apartments, and condominiums, is a key driver for the demand for circuit breakers. Circuit breakers play a vital role in guaranteeing the safety of residential electrical systems, offering protection against electrical faults like short circuits and overloads, thus mitigating the risks of electrical hazards, fires, and damage to appliances and equipment. Moreover, building codes and regulatory standards mandate the installation of circuit breakers in residential dwellings to meet safety requisites, further augmenting the Asia Pacific circuit breaker market development.

 

China Circuit Breaker Market Size, 2021 - 2032, (USD Billion)

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China circuit breaker market size is predicted to surpass USD 7.6 billion in 2032, on account of the rapid urbanization and industrialization in the country, which have led to a surge in the demand for reliable electrical infrastructure, boosting the need for advanced circuit protection solutions. Additionally, China's ambitious renewable energy targets and the expansion of its smart grid infrastructure require state-of-the-art circuit breakers capable of handling intermittent energy sources and ensuring grid stability.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of circuit breaker in APAC was worth USD 9.3 billion in 2023 and is projected to surpass USD 23.5 billion by 2032, due to the rapid urbanization and industrialization across the region.

Asia Pacific low voltage circuit breakers market size crossed USD 4 billion in 2022 and is poised to reach over USD 12.4 billion by 2032, driven by government-led electrification projects aimed at extending access to electricity in rural areas.

China circuit breaker industry size is anticipated to exceed USD 7.6 billion by 2032, on account of the rapid urbanization and industrialization in the country.

Some of the prominent APAC circuit breaker market players are ABB, Mitsubishi Electric Corporation, Eaton Corporation, Toshiba International Corporation, Schneider Electric, CG Power & Industrial Solutions Ltd., General Electric, and Siemens Energy.

Asia Pacific Circuit Breaker Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 993
  • Countries covered: 11
  • Pages: 715
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