Air circuit breaker market expected to grow exponentially to over $4.5 billion by 2027: Fior Markets

Air Circuit Breakers Market By Type (Common Air Circuit Breakers & Air Blast Circuit Breakers), Application (Commercial, Residential & Industrial), Voltage (Low & Medium Voltage), Region, Global Industry Analysis, Market Size, Share, Growth, 2020 Trends and forecasts from 2020 to 2027

Newark, NJ, May 11, 2022 (GLOBE NEWSWIRE) — The global air circuit breaker market is expected to grow from $3.1 billion in 2019 to $4.5 billion in 2027, at a CAGR of 2020, according to a report published by Fior Markets -5.20% over the forecast period of 2027.

Asia Pacific is expected to dominate the market growth owing to increasing investments in infrastructure and growing focus on renewable energy generation.The growth in North America is attributed to the expansion of the overall industrial sector and growth in the manufacturing and processing industries.The European market has also seen significant growth due to the adoption of air circuit breakers, which are used in various end-use industries.The Middle East and Africa market is expected to grow due to increasing investments in renewable energy infrastructure development.
Some of the prominent players in the market are Eaton, Mitsubishi Electric, Schneider Electric, Siemens and ABB.In November 2017, Siemens introduced a compact circuit breaker called 3WL10 that can manage rated currents up to 1250 A.
The type section includes ordinary air circuit breakers and blower circuit breakers.Air jet circuit breakers are expected to grow significantly in the market.On the basis of application, the market is segmented into commercial, residential, and industrial.The residential application segment is expected to boost the market owing to the growing demand for air circuit breakers in the production and processing industries.The voltage segment includes low and medium voltage.The low voltage segment is expected to show significant growth in the industry owing to its use in end-use industries such as manufacturing, industrial equipment, power plants, power distribution facilities, etc.
Factors influencing the growth of the market are the increasing share of renewable energy in the electricity mix and increasing demand for reliable and secure electricity supply.Growing electricity demand and aging power infrastructure present huge opportunities for the market.Factors hindering market growth are safety regulations and stringent environment.
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Analysis of the Global Air Circuit Breakers Market on the basis of Value (Million USD).All segments are analyzed on a global, regional and country basis.The study includes analysis of over 30 countries in each market segment.The report provides an in-depth analysis of drivers, opportunities, constraints and challenges to gain key insights into the market.The study includes Porter’s Five Forces Model, Attraction Analysis, Raw Material Analysis, and Competitor Location Grid Analysis.
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Fior Markets is a futuristic market intelligence company that helps clients develop their business strategies and use actionable intelligence to make better decisions.Through a transparent repository of information, we meet our clients’ goals, commitment to high standards, and potential prospects for SWOT analysis and market research reports.Fior Markets deploys a wide range of regional and global market intelligence research reports covering industries such as technology, pharmaceuticals, consumer products, food and beverages, chemicals, media, materials and more.
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Post time: Jun-02-2022