Home > Energy & Power > Electrical Equipment > Circuit Breakers > Asia Pacific Low Voltage Circuit Breaker Market

Asia Pacific Low Voltage Circuit Breaker Market Size - By Product ACB, MCB, MCCB), By End Use (Residential, Commercial, Industrial) & Forecast, 2023 – 2032

  • Report ID: GMI7324
  • Published Date: Nov 2023
  • Report Format: PDF

Asia Pacific Low Voltage Circuit Breaker Market Size

Asia Pacific Low Voltage Circuit Breaker Market was valued at USD 4.3 billion in 2022 and is projected to expand at 10.9% CAGR between 2023 and 2032. The exponential surge in energy demand, propelled by a thriving industrial sector, is driving the expansion of high-voltage grid networks. The rapid deployment of high-voltage units to meet the growing demand in various industries is, in turn, fueling the demand for these products. The increasing demand for manufactured goods, combined with the swift expansion of manufacturing facilities, has compelled industry players to expand and enhance their operations across the region.
 

Asia Pacific Low Voltage Circuit Breaker Market

The circuit breaker industry has experienced significant growth, primarily due to the ongoing urbanization in various developing countries. The gradual migration of the population to urban centers has resulted in an increased demand for electricity, consequently driving growth in the power sector. According to Enerdata, global regions collectively consumed approximately 24,877 terawatt-hours (tWh) of electricity in 2021, marking a 5.5% annual increase from 2020.
 

Copper, aluminum, steel, plastic, and other raw materials are used for the manufacturing of circuit breakers. The volatility in raw material price is considered as one of the prime factors affecting the industry growth as managing raw materials cost is a top priority for the manufacturers. Rising concerns pertaining to the export quotas may also increase the raw material prices and affect the international market dynamics. In addition, ongoing geopolitical scenario may further pose a threat to the circuit breaker market growth.
 

COVID-19 Impact

During the COVID-19 pandemic, the progress, building, and upkeep of power infrastructure remained undeterred, despite government-imposed restrictions on new energy projects. However, the scenario is expected to shift as governments introduce plans to reinvigorate operations in critical industries, manufacturing facilities, and infrastructure projects. This is anticipated to drive business growth.
 

Asia Pacific Low Voltage Circuit Breaker Market Trends

In recent years, the circuit breaker industry has experienced significant expansion due to the increasing need for efficient Transmission and Distribution (T&D) control systems. The rising demand for refurbishing existing electrical infrastructure, along with substantial investments in grid infrastructure, is expected to enhance the business prospects. In addition, the inadequacy of efficient electrical networks in developing nations, coupled with a shift towards enhancing existing infrastructure in developed countries, has created a favorable business environment.
 

The demand for secure and dependable circuit breaker systems in residential, commercial, industrial, and utility settings is on the rise, driven by the continuous improvement in product specifications. This trend, combined with government initiatives and regulatory updates promoting standardized product configurations for both installers and consumers, has created a favorable business environment. Additionally, the regional preference for incorporating sustainable electrical networks and electrification in standalone grid infrastructure further contributes to a promising growth outlook.
 

Asia Pacific Low Voltage Circuit Breaker Market Analysis

 Asia Pacific LV Circuit Breaker Market Size, By Product, 2021 - 2032 (USD Billion)

Based on product, the ACB segment crossed USD 694.5 million in 2022. The swift uptake of renewable energy sources, like solar and wind power, necessitates dependable and efficient electrical infrastructure. Within renewable energy systems, low voltage Air Circuit Breakers (ACBs) play a vital role in safeguarding and managing electrical circuits to ensure safe and effective operations. Low voltage ACBs that incorporate advanced features such as intelligent energy management systems, power monitoring, and load shedding capabilities are particularly appealing for energy-efficient applications. This transition toward renewable energy installations is a key driver for the increased demand for ACBs in this sector.
 

 Asia Pacific LV Circuit Breaker Market Revenue Share, By End Use, 2022

Based on end use, the residential segment is set to grow at a CAGR of over 10.7% through 2032. The substantial migration of people to large-scale suburban areas, coupled with supportive regulatory initiatives aimed at improving the quality of life for residents, has resulted in urbanization and commercial growth across the region. The expanding population in cities and measures to provide electricity to remote, off-grid areas have contributed to a notable increase in energy consumption. Consequently, the escalating energy demand, driven by the need for efficient power distribution networks, will have a positive impact on the distribution component industry as a whole.
 

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

The Asia Pacific region captured around 29.6% of the low voltage circuit breaker market share in 2022. China has been experiencing significant urbanization, leading to increased demand for electricity in residential and commercial areas. This growth has driven the need for low voltage circuit breakers in buildings and infrastructure projects. Ongoing advancements in low voltage circuit breaker technology, such as the integration of digital monitoring and protection features, have made these devices more attractive for various applications. China has been working on the development of smart grids, which require advanced electrical protection and control solutions, including intelligent low voltage circuit breakers.
 

China has been working on the development of smart grids, which require advanced electrical protection and control solutions, including intelligent low voltage circuit breakers. The industrial sector in China has been expanding, creating a demand for low voltage circuit breakers in manufacturing facilities and other industrial applications.
 

Asia Pacific Low Voltage Circuit Breaker Market Share

ABB holds a significant presence in the Asia Pacific low voltage circuit breaker industry, recognized for its extensive expertise in the design and manufacturing of various circuit breaker technologies, including ACB, MCB, MCCB, among others. The company boasts a long and storied history deeply embedded in the field of transmission and distribution. Over the years, ABB has provided circuit breaker solutions across a wide range of applications, encompassing residential, commercial, and industrial sectors.
 

Some of the key market players operating across the Asia Pacific low voltage circuit breaker industry are:

  • ABB
  • Schneider Electric
  • Siemens
  • Eaton
  • Legrand
  • Mitsubishi Electric
  • Rockwell Automation
  • Fuji Electric Co., Ltd.
  • LS Electric
  • Chint Group
  • C&S Electric
  • WEG
  • Socomec
  • L&T Electrical & Automation
     

Asia Pacific Low Voltage Circuit Breaker Market News

  • In July 2022, Eaton made a strategic move by acquiring a 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd., a prominent manufacturer and supplier of low-voltage (LV) circuit breakers in China. This acquisition facilitated the fusion of application-specific products with worldwide distribution channels, providing both companies with the capability to capitalize on opportunities in sectors like renewable energy, grid modernization, and industrial and commercial construction. This strategic step bolstered Eaton's market presence and influence within the circuit breaker industry.
     

This Asia Pacific low voltage circuit breaker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report


By Product

  • ACB
  • MCB
  • MCCB
  • Others

By End Use

  • Residential
  • Commercial
  • Industrial

The above information is provided for the following countries:

  • China
  • Japan
  • South Korea
  • India
  • Australia

 

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for low voltage circuit breaker was worth USD 4.3 billion in 2022 and is expected to register 10.9% CAGR from 2023 to 2032, due to the exponential surge in energy demand, propelled by the thriving industrial sector in the region.
The ACB product segment in the APAC low voltage circuit breaker market recorded over USD 694.5 million in 2022, due to the rising uptake of renewable energy sources, such as solar and wind power necessitating dependable and efficient electrical infrastructure.
China held over 29.6% share of the low voltage circuit breaker industry in 2022 and is expected to register significant CAGR through 2032, owing to the robust urbanization, leading to increased demand for electricity in residential and commercial areas.
Some of the influential Asia Pacific low voltage circuit breaker market players are ABB, Schneider Electric, Siemens, Eaton, Legrand, Mitsubishi Electric, Rockwell Automation, Fuji Electric Co., Ltd., Electric, and Chint Group, among others.

Asia Pacific Low Voltage Circuit Breaker Market Scope

Buy Now


Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 161
  • Countries covered: 5
  • Pages: 150
 Download Free Sample
 Download Free Sample