The expertly crafted Gas Circuit Breaker Market report from Future Market Insights reveals a number of global market characteristics as well as important trends and advancements. Numerous factors, including opportunities, drivers, and trends, are revealed in the research report “Gas Circuit Breaker Market: Global Industry Analysis and Opportunity Assessment (2021 to 2031)” that have influenced the market’s expansion as a whole.
Additionally, this research report has included future market projections that show the direction the global market will take in terms of growth rate and market valuation, taking into account all significant market segments that make up the global market. These projections have been included in addition to the current market situation and historical market data. This information has been evaluated across significant global regions to obtain an accurate market picture in the
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 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 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.
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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.
Global Gas Circuit Breaker Market: Forecast Highlights
As per the research report on the global gas circuit breaker market, the global market is anticipated 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, 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
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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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