Gas Circuit Breaker Market grow at a CAGR of 3.9% over the forecast period 2031

Dec 21, 2023

According to a Future Market Insights (FMI) analysis, the gas circuit breaker market will be worth US$ 621.2 Million in 2021.In contrast to the 3.5% CAGR seen between 2016 and 2020, the overall sales of gas circuit breakers are predicted to increase at a CAGR of 3.9% between 2021 and 2031.

Some of the top circuit breaker players on the market are attempting to improve their market position by concentrating on advanced launches and subsequently broadening their product line.

For instance, the new index-based circuit breaker function will be introduced by Borsa Istanbul for the first time in 2020. The device will dynamically exercise by stopping the session when compared to the previous closing value.

Numerous other manufacturers are joining the bandwagon as a result of growing consumer demand.

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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.

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:

By Configuration:

By Technology:

By End Use:

By Region:

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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