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
Despite witnessing disruptions amid COVID-19 outbreak, the market exhibited 2.0% year-on-year growth between 2020 and 2021.
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 compared to 3.5% CAGR registered between 2016 and 2020. Despite witnessing disruptions amid COVID-19 outbreak, the market exhibited 2.0% year-on-year growth between 2020 and 2021.
A research report on the gas circuit breaker market skillfully crafted by Future Market Insights reveals several aspects of the global market, along with key trends and developments. The research publication titled “Gas Circuit Breaker Market: Global Industry Analysis and Opportunity Assessment (2021-2031)” uncovers many facets such as opportunities, drivers, and trends that influence the growth of the entire market.
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Moreover, along with the current market scenario and historical market data, this research report has outlined future market projections that reveal the future direction of the global market in terms of growth rate and valuation of the entire market considering all crucial market segments that define the global market. This data has been assessed across key regions in the globe to get a clear market picture in the current timeline and in the future.
Global Gas Circuit Breaker Market: Dynamics affecting 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 use of gas circuit breaker for high voltage applications, rapid industrialization, and urbanization driving the need for the establishment of 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 tend such as the focus on reduction of the number of interrupters, the evolution of hybrid gas breakers to reduce the environmental effect 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 that is a major contributor 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 standardized 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: Forecast Highlights
As per the research report on the global gas circuit breaker market, the global market is expected to grow at a CAGR of 4.6% throughout the forecast to reach a valuation of more than US$800 Mn by the end of 2027 from a value of about US$518 Mn in 2017.
Global Gas Circuit Breaker Market: Segmentation Snapshot
The global gas circuit breaker market is segmented based on voltage rating, by configuration, by technology, by end-use, and by 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 forecast.
By Configuration, a 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 the 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.
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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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