Gas Circuit Breaker Market Snapshot
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.
Key Points Covered In Gas Circuit Breaker Market Survey
- Market Estimates and Forecast 2021 - 2031
- Key drivers and restraints impacting the market growth
- Segment wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Gas Circuit Breaker Market And How to Navigate
- Recommendations on Key Winning Strategies
Gas Circuit Breaker Market Future Outlook Brighter In Comparison To Historic Growth
The gas circuit breaker market is expected to grow at a CAGR of nearly 3.9% over the forecast period 2021-2031.
Growing focus on secured power distribution owing to a rising demand for renewable energy will positively influence the gas circuit breaker demand outlook. Increasing investments in the expansion of industrial infrastructure will create lucrative prospects for gas circuit breaker sales.
Some of the leading circuit breaker market players are striving to strengthen their market position by focusing on advanced launches, thereby expanding their product portfolio.
For instance, in 2020, Borsa Istanbul announced the launch of its new index-based circuit breaker function for the first time ever. The device will exercise dynamically by halting the session, as compared to the previous closing value.
Several other manufacturers in the market are also joining the bandwagon, following the rising demand from consumers. Their efforts towards catering to the dynamic consumer demand will create growth opportunities in the market.
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A 1.5x Growth to be Observed in the Global Gas Circuit Breaker Market
Gas circuit breaker is mainly used as high voltage current chopping device. Sulphur hexafluoride (SF6) is used to absorb free electron from the disconnector chamber owing to its negative affinity property.
Usually fuses, oil circuit breaker etc., are used, however gas circuit breakers are considered as a more efficient means to chop voltage as compared to the conventional methods typically for applications involving medium and high voltages. High voltage applications is the major deployment area for gas circuit breakers.
Future Market Insights has drafted a new research report on global gas circuit breakers market. According to this research report, the global market is expected to grow at a CAGR of 4.6% during the period of forecast to reach a valuation of more than US$ 800 Mn by the end of the year of assessment from a value of around US$ 518 Mn in 2017.
Increasing number of government projects for high voltage transmission lines and increasing number of orders for high voltage substations are driving this market.
Increasing technological advancements in transmission grids and significant demand for outdoor ultra-high voltage gas circuit breakers for industrial purposes are likely to boost the growth of the global gas circuit breaker market over the period of forecast.
Industrial Segment Continues to Show its Dominance Throughout the Forecast Period
The industrial segment in the end use category is expected to grow at a significant pace to reach a high valuation. The use of gas circuit breakers in the industrial sector has been rising since past several years.
The increasing adoption of gas circuit breakers has made the industrial segment a highly lucrative one with greater market attractiveness.
In 2017, the industrial segment is valued at about US$ 372 Mn and is anticipated to touch a value of more than US$ 580 Mn by the end of the year of assessment (2027). This rise in value is accompanied by moderate growth of the segment. The industrial segment is projected to rise at a CAGR of 4.6% throughout the period of assessment.
Gas Circuit Breakers to Witness Less Adoption in the Residential Sector
Typically residential sector is marked with low to medium voltages. Gas circuit breakers are typically used to chop voltages that range from medium to high magnitudes. The use of gas circuit breakers in the industrial sector is less compared to industrial sector where huge power surges are prevalent.
The residential segment, is thereby expected to show sluggish growth rate throughout the period of assessment. It is poised to register a low value CAGR of 3.9% during the said period. The residential segment reflects a market valuation of US$ 40 Mn in 2017 and is estimated to reach a value bit under US$ 59 Mn by the end of the year of assessment.
Regional Understanding of Various End Use Segments
In the North America gas circuit breaker market, the industrial segment reflects a value a bit under US$ 90 Mn in 2017. In the Western Europe gas circuit breaker market, the residential segment is expected to reflect higher growth rate than the industrial segment and is poised to register a 3.3% value CAGR throughout the forecast period.
Asia Pacific excluding Japan (APEJ) region also reflects high growth potential for the global market. In the Asia Pacific excluding Japan (APEJ) gas circuit breaker market, the industrial segment is projected to reach a noteworthy value CAGR of 5.6% during the 2017-2027 timeline.
Key Questions Answered in the Report
How much is the Gas Breaker Circuit Market Worth?
The global gas breaker circuit market will reach a valuation of US$ US$ 621.2 Mn in 2021.
At What Rate did the Gas Breaker Circuit Market Grow in the Last Five Years?
The gas breaker circuit market exhibited growth at 3.5% CAGR between 2016 and 2020.
What is the Market Share of Top 5 Players in Gas Breaker Circuit Market?
Which Countries are Key Exporters of Gas Breaker Circuit?
The top exporters of gas breaker circuit include China, South Korea, Poland and Germany.
What is the North America Gas Breaker Circuit Outlook?
The demand for gas breaker circuit is expected to rise at 3.3% in North America between 2021 and 2031.
At What Percentage will the Gas Circuit Breaker Market Grow in Europe?
The Europe market is estimated to grow at an average annual rate of 2.9% in the forecast period.
Which Countries are Key Producers of Gas Breaker Circuit?
U.S., Japan, South Korea and Germany are touted as chief producers of gas circuit breaker.
What is Driving Demand for Gas Circuit Breaker Market?
Technological advancements, improvisation in transmission grids, increasing adoption of breaker in commercial, residential and industrial buildings will stimulate the demand outlook for the gas circuit breaker market.
What are the Key Trends of Gas Circuit Breaker?
Design of low maintenance models coupled with strategic collaborations with regional enterprises for supply and distribution by OEMs are key trends observed in the market.
What are the Key Statistics for Gas Circuit Breaker Market in Japan and South Korea?
Global share cumulatively for Japan and South Korea in the gas breaker circuit market is 3.0%
By Voltage Rating
- Up to 72.5 kV
- above 800kV
- Single Interrupter
- Two Interrupter
- Four Interrupter
- Dead Tank Type
- Live Tank Type
By End Use
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excl. Japan (APEJ)
- Middle East & Africa (MEA)