Circuit Breakers Market Size, By Technology (Air, Vacuum, Oil, SF6), By Voltage Level (LV, MV, HV), By End-Use (Power Transmission, Power Distribution), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, France, Germany, Russia, China, India, Japan, South Korea, Australia, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Peru), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: February 2017 | 150 Pages | Report ID: GMI1172 Report Format: PDF
Circuit Breakers Market size was above USD 6 billion in 2015 and is forecast to grow at over 7.0% CAGR by 2024.
Global Circuit Breakers Market, By Technology, 2014 – 2024 (USD Billion)
Growing demand for smart transmission and distribution network will drive the global circuit breakers market size. In 2016, UK based Scottish Power Energy Network announced an investment of USD 13 million towards the development of digital substations under Future Intelligent Transmission Network Substation (FITNESS) program.
Increasing investment towards refurbishment and development of transmission grid infrastructure by utilities and private entities will positively influence the global circuit breakers market revenue from 2016 to 2024. In 2016, U.S. Department of Energy announced the development of bi-directional 1,000 MW HVDC underwater transmission line which will connect Ontario Independent Electricity System Operator and PJM Interconnection.
Rising demand for compact low cost modular packaged substation will augment the global circuit breakers market size over the forecast period. In 2017, UAE based Abu Dhabi Marine Operating Company awarded USD 80 million contract to ABB for the supply of 4,000M2 modular E-Houses for Satah al-Razboot (SARB) offshore oil field to ensure reliable power supply.
Implementation of several medium and large scale renewable energy projects will further propel the global market demand. In 2015, Government of India has introduced the Green Energy Corridor project under which over USD 1 billion investment was announced towards development of separate grid infrastructure for renewable energy transmission.
Circuit Breakers Market, By Technology
Vacuum circuit breakers industry is predicted to witness growth over 9% during forecast period, owing to increasing demand across numerous medium and high voltage substation applications. Stringent regulations pertaining to leakage of toxic greenhouse gas emission from other technologies will positively influence the industry growth. Air technology is expected to reach over USD 5 billion by 2024, owing to wide applications across low voltage electric networks.
Rising demand for reliable electricity supply will lead to development of new low voltage distribution substations, which in turn positively impact the industry outlook. SF6 circuit breakers market size for 2015 was valued over USD 1 billion. Superior arc quenching property coupled with high dielectric strength will favor the business growth.
Circuit Breaker Market, By Voltage Level
Global circuit breakers market size from low voltage was valued over USD 3 billion in 2015. Growing penetration of low voltage substations owing to numerous electrification programs across developing countries will augment the industry growth over forecast period. In 2015, Government of India launched Deen Dayal Upadhyaya Gram Jyoti Yojana under which over USD 11 billion investment being made in line of supplying continuous power rural areas.
Medium voltage segment is anticipated to exceed USD 4 billion by 2024. Increasing demand for compact packaged substations across commercial and industrial applications will propel the industry demand over the forecast timeframe. High voltage circuit breaker market is expected to grow over 6% by 2024 owing to rising investments towards the EHV and UHV transmission grid infrastructure. In 2015, Government of China announced USD 315 billion investment towards the capability enhancement of its grid infrastructure.
Circuit Breaker Market, By End-Use
Global circuit breakers market size from power distribution applications was valued over USD 5 billion in 2015. Increasing investment towards development of new substations primarily in rural areas is influencing the demand across the globe. Transmission applications is anticipated to grow over 5% from 2016 to 2024 owing to rising concern towards safe power transmission. In 2017, the U.S. Federal Government announced USD 100 million investment towards refurbishment of country’s first HVDC link in Pacific Intertie.
Circuit Breakers Market, By Region
U.S. circuit breakers market size was valued over USD 1 billion in 2015. Federal government initiatives to enhance the safety and reliability of transmission and distribution network will augment the industry growth.
Russia market share is predicted to witness growth over 7% during the forecast period. Focus towards implementation of smart grid infrastructure networks will positively impact the growth. In 2014 JSC Russian Grids received a partial funding from National Welfare Fund (NWF) for the expansion of its smart grid network across the country.
China circuit breakers industry size is anticipated to reach over USD 1.5 billion by 2024. Growing investments towards the renovation of existing transmission and distribution network will drive the business growth. Saudi Arabia was valued over USD 100 million in 2015. Increasing demand for the compact packaged substations across the remote industrial area will add to the revenue.
Brazil market will witness significant growth over 7% from 2016 to 2024. Integration of existing grid infrastructure with renewable energy sources is a key focus area of regulators.
Competitive Market Share
Notable industry participants include ABB, GE Alstom, Siemens, Mitsubishi Electric Corporation, BEL Fuse Inc., Eaton Corporation, Schneider Electric, Toshiba, Powell Industries, TE Connectivity and Mersen.
The industry is highly fragmented and price plays a crucial role in determining the business dominance. High initial investment coupled with stringent emission norms may act as challenge for new entrants. Industry players as a part of strategy are focusing on merger and acquisition to increase its geographical presence. The recent acquisition of Alstom’s power and grid business by GE has significantly impacted its business revenue.
Circuit Breakers Industry Background
Circuit breakers is an electrical device usually deployed across transmission and distribution network to enhance the safety of the overall architecture during voltage fluctuations. These are developed in variable sizes protecting small voltage to high voltage circuits which feeds an entire city. Growing adoption of compact packaged substations will positively influence the industry growth.
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