The gas circuit breaker market worth will total US$ 621.2 Mn in 2021, as per Future Market Insights (FMI) analysis. Overall gas circuit breakers sales are expected to grow at a CAGR of 3.9% between 2021 and 2031 in comparison to 3.5% CAGR registered between 2016 and 2020.
Some of the market’s leading circuit breaker players are attempting to strengthen their market position by focusing on advanced launches and thus expanding their product portfolio.
For example, for the first time, Borsa Istanbul announced the launch of its new index-based circuit breaker function in 2020. When compared to the previous closing value, the device will exercise dynamically by halting the session.
Following rising consumer demand, several other manufacturers in the market are also jumping on board. Their efforts to meet the changing consumer demand will generate market growth opportunities.
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Global Gas Circuit Breaker Market: Dynamics Impacting Future Growth
Various aspects have contributed to the growth of the global gas circuit breaker market. Gas circuit breaker acts as an effective alternative compared to conventional methods like oil circuit breaker and fuse, increasing the use of gas circuit breaker for high voltage applications, rapid industrialization, and urbanization driving the need for the establishment.
New transmission grids, increasing renewable energy projects and use of medium voltage circuit breakers, significant investment by the government in the power transmission and distribution sector coupled with rapid growth in these sectors, irregular flow of current in certain regions owing to poor infrastructure driving the need for protection of circuit through circuit breakers, and trend such as a focus on reduction of several interrupters, the evolution of hybrid gas breakers to reduce the environmental impact of SF6 and focus on low maintenance based circuit breakers have contributed to the growth of the global gas circuit breaker market.
Increasing penetration of alternative technologies, such as vacuum circuit breakers, stringent regulations about the use of sodium hexafluoride gas is a major contributors to the greenhouse effect, reluctance to install new equipment and electrification projects, high cost associated with the use of SF6 gas circuit breakers, lack of standardised testing for ultra-high voltage gas circuit breakers and low replacement rate are hindering the growth of the global gas circuit breaker market.
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Global Gas Circuit Breaker Market: Segmentation Snapshot
The global gas circuit breaker market is segmented based on voltage rating, configuration, technology, end-use and region.
- By Voltage Rating, the above 800 kV segment is the largest segment with a high market share. However, the 252-550 kV segment is projected to grow at a high rate to register a value CAGR of 5.3% throughout the period forecast
- By Configuration, the single interrupter segment is a high growth segment contributing largely to the growth of the global market. It is estimated to reach a value of more than US$ 530 Mn by the end of 2031
- By Technology, the live tank type segment is highly lucrative with high growth potential. This segment is projected to grow at a high comparatively high CAGR and also reflect a high market valuation by the end of the period of assessment, thus leading the global market
- By End Use, the industrial segment is expected to dominate the global market with a high market value. The commercial segment is poised to register a high-value CAGR of 5.2% throughout forecast
- By Region, Asia Pacific excluding Japan (APEJ) is the largest with high market attractiveness. The gas circuit breaker market in the APEJ region is expected to grow at a high-value CAGR of 5.8% during the forecast period
Global Gas Circuit Breaker Market: Competitive Analysis
The research study on the global gas circuit breaker market includes a detailed competitive assessment that includes key players such as ABB Group, General Electric, Toshiba Corporation, Hyosung Corporation, Siemens AG, Schneider Electric SE, Hitachi Ltd., Kirloskar Electric Company Ltd., CG Power and Industrial Solutions Limited, Fuji Electric Co., Ltd., HICO America, Nissin Electric Co., Ltd., Elimsan Switchgear Equipment & Electromechanical Industry And Trade Inc., New Northeast Electric Group High Voltage Switchgear Co., Ltd., Mitsubishi Electric Corporation, Koncar-Electronics and Informatics Inc., Hyundai Heavy Industries Co., Ltd., Siyuan Electric Co., Ltd., Stelmec Limited and ALSTOM SA.
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Market segmentation
By Voltage Rating:
- Up to 72.5 kV
- 72.5-145kV
- 145kV-252kV
- 252-550kV
- 550-800kV
- above 800kV
By Configuration:
- Single Interrupter
- Two Interrupter
- Four Interrupter
By Technology:
- Dead Tank Type
- Live Tank Type
By End Use:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excl. Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
About Future Market Insights, Inc.
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