Increasing Implementation of High Voltage Transmission Lines Is Driving the Gas Circuit Breaker Market

Globally, the gas circuit breaker market is expected to grow with a CAGR of 5.0% during the forecast period from 2023 to 2030, starting from US$ 788.13 Mn in 2021. Gas circuit breakers consists of sulphur hexafluoride (SF6) which interrupts with electric currents when a fault is detected and helps protect the electrical power stations and distribution systems. Gas circuit breakers have various advantages over conventional methods as these systems donot need to be replaced, however they can be reset to resume usual operations. This feature is the primary factor that has increased the adoption of gas circuit breakers across the globe.

Globally, government projects focusing on high-voltage transmission lines are growing at a rapid pace. These projects mainly focus on developing the existing electrical lines and energy transmission systems. In addition, the demand for high voltage substations is increasing rapidly which are driving the growth of this market. Technological advancements and improvisation in transmission grids, growing implementation of gas circuit breakers of ultra-high voltage used outdoors for numerous industrial applications are likely to boost the growth of overall gas circuit breaker market during the forecast period. Furthermore, growing industrialization and urbanization are offering significant growth opportunities to the key players operating in the gas circuit breakers market.

Industrial End User Segment Dominated the Global Market

Based on end-user, the gas circuit breaker market is segmented into residential, commercial, and industrial sectors. In 2020, the industrial sector dominated the market by holding more than 55% of the total market. Rapid industrialization, adoption of advanced technologies in various industries, and increasing penetration of gas circuit breakers in industrial divisions are the primary factors attributed to this high market share. However, the commercial sector is likely to experience significant growth during the forecast period. This segment is projected to witness a growth of over 6.5% from 2019 to 2029.

Asia-pacific To Witness a Fastest Growth in the Market by Region

In 2020, the North American gas circuit breaker market was registered to be around $100 Mn. Asia-Pacific is projected to witness a noteworthy growth during the forecast period based on significant development in the industrial sector in various emerging countries. In addition, increasing investment and development of power sector, expanding urbanization, economic growth, and development of infrastructure to maintain the progression are some of the factors contributing the growth of gas circuit breaker market in this region. Furthermore, expansion of various key international players are also fueling the growth of this market during the forecast period.

Some of the prominent players operating in the gas circuit breaker market include General Electric, ABB Group, Toshiba Corporation, Nissin Electric Co., Ltd., Siemens AG, Hyosung Corporation, Schneider Electric SE, Kirloskar Electric Company Ltd., Hitachi Ltd., CG Power and Industrial Solutions Limited, HICO America, and Fuji Electric Co., Ltd.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Gas Circuit Breakers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Gas Circuit Breakers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Gas Circuit Breakers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Gas Circuit Breakers market?
• Which is the largest regional market for Gas Circuit Breakers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Gas Circuit Breakers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Gas Circuit Breakers market worldwide?