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Gas Circuit Breaker Market Size

Report ID: GMI7480
Published Date: Nov 2023
Report Format: PDF

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Gas Circuit Breaker Market Size

Gas Circuit Breaker Market was valued at USD 1.5 billion in 2022 and is estimated to register at a 11% CAGR from 2023 to 2032. The rising need to revamp current electrical systems, alongside substantial investments in grid infrastructure, is set to bolster business prospects. The lack of efficient electric networks in developing nations, along with a push to enhance existing infrastructure in developed countries, has fostered a promising business landscape. In 2021, Europe dedicated over USD 3 billion toward advancing research and development in the smart grid network domain, primarily fueled by substantial projects centered on smart metering.

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Gas circuit breakers are high-voltage electrical switches that use sulfur hexafluoride or other gases to extinguish arcs, interrupting the flow of current in power systems. They offer efficient and reliable means of controlling and protecting electrical grids against overloads and faults, crucial for grid stability. Enhanced reforms, particularly focused on integrating extensive renewable energy sources, are being expedited through the enhancement of current grid networks to meet escalating electricity needs. The US Smart Grid Investment Grant program (SGIG) strives to expedite the modernization of existing transmission systems.

Gas Circuit Breaker Market Report Attributes
Report Attribute	Details
Base Year:	2022
Gas Circuit Breaker Market Size in 2022:	USD 1.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	12.2%
2032 Value Projection:	USD 2.2 Billion
Historical Data for:	2019 to 2022
No. of Pages:	685
Tables, Charts & Figures:	942
Segments covered:	Voltage, Application, End Use
Growth Drivers:	North America & Europe Expansion of smart grid networks Refurbishment & retrofit of existing grid infrastructure Asia Pacific Rising peak load demand Expansion of micro-grid networks Grid stability & security of supply concerns Middle East & Africa and Latin America Increasing electricity demand Integration of a sustainable energy infrastructure
Pitfalls & Challenges:	Slow paced technological evolution across developing regions Volatile raw material prices

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of gas circuit breaker was worth USD 1.5 billion in 2022 and is expected to register over 11% CAGR through 2032, due to the rising need to revamp current electrical systems along with the substantial investments in grid infrastructure worldwide.

The medium voltage segment in the gas circuit breaker industry is expected to garner over 11.5% CAGR from 2023 to 2032, owing to the increasing urbanization, industrialization, and the rising need for reliable power distribution networks.

Asia Pacific gas circuit breaker industry size is expected to register over 12% CAGR from 2023-2032 due to rapid industrialization and the rising demand for reliable and efficient power distribution systems in the region.

Hitachi, Ltd., DILO Company, Inc., Mitsubishi Electric Corporation, ABB, Megger, Siemens Energy, and GE are some of the major gas circuit breaker companies worldwide.