NEWARK, DE / ACCESSWIRE / June 8, 2023 / In 2023, the size of the global gas circuit breakers market is likely to be US$ 675 million. The growth of the market is being driven by the expanding application in the various end-use industries. According to estimates, the market will generate US$ 1018.5 million in 2033, with a CAGR of 4.2% between 2023 and 2033.
The growing demand for electricity and the need for efficient power distribution systems drive the demand for gas circuit breakers during the forecast period. Gas circuit breakers offer superior performance in terms of high interruption capability, fast operation, and minimal maintenance requirements, making them suitable for applications in power grids and substations.
Increasing upgradation and expansion of power infrastructure in developing and developed nations and increasing demand for advanced and reliable circuit protection equipment fuel the market growth.
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Increasing application of gas circuit breakers in industrial and commercial sectors requires robust electrical infrastructure to support efficient power transmission and distribution. The increasing application in manufacturing plants, petrochemical facilities, and mining operations, are expected to offer opportunities for market growth during the forecast period.
Increasing technological advancements in gas circuit breaker technology, such as improved insulation materials, digital monitoring, and control systems, and enhanced interrupting capabilities, drive market growth. These advancements enhance the performance, reliability, and operational efficiency of gas circuit breakers, making them more attractive to end-users.
Key Takeaways:
From 2018 to 2022, the gas circuit breakers market demand expanded at a CAGR of 3.7%
- Based on the configuration, the single interrupter segment accounts for a CAGR of 3.8%
- By end-use, the industrial segment is expected to expand at a CAGR of 3.9% during the forecast period
- North America to emerge as a promising gas circuit breaker system market, capturing a CAGR of 4.0%
- The gas circuit breaker industry in the United Kingdom is predicted to reach US$ 278 million by 2033
- Asia Pacific is an opportunistic gas circuit breakers market, expected to capture a CAGR of 4.1% during the forecast period.
- South Korea's gas circuit breakers industry is predicted to achieve a market revenue of US$205 million by 2033
Competitive Landscape:
The global gas circuit breaker system market is fragmented with the presence of several large and medium-scale players. The leading players in the market are investing in strategic agreements in order to capture market share.
- Mitsubishi,
- Hitachim
- CG
- Siemens
- Toshiba
- Schneider Electric
- Megger Group
- Eaton
- CHINT
- Lucy Electric
- Fuji Electric
Some of the development in the market are-
- GE has been actively involved in the development of gas circuit breakers for various applications. The company has introduced innovative designs, including high-voltage hybrid gas circuit breakers that combine different technologies to optimize performance and efficiency. GE's advancements focus on enhancing reliability, reducing maintenance requirements, and increasing the lifespan of gas circuit breakers.
- Schneider Electric: Schneider Electric, a leading provider of energy management and automation solutions, has also made notable developments in gas circuit breaker technology. The company has introduced advanced gas-insulated switchgear solutions that offer increased efficiency, improved safety features, and reduced environmental impact. Schneider Electric's developments aim to provide reliable and sustainable solutions for power distribution networks.
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Know More about What the Gas Circuit Breakers Market Report Covers:
Future Market Insights offers an unbiased analysis of the global gas circuit breaker market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the gas circuit breakers market, the market is segmented based on voltage rating, configuration, technology, and end-use across five major regions.
Key Segments:
By Voltage Rating:
- Up to 72.5 kV
- 72.5-145kV
- 145kV-252kV
- 252-550kV
- 550-800kV
- above 800kV
By Configuration:
- Single Interrupter
- Two Interrupter
- Four Interrupter
By Technology:
- Dead Tank Type
- Live Tank Type
By End Use:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excl. Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter's Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Voltage Rating
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Voltage Rating, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Voltage Rating, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Voltage Rating, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Voltage Rating, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Configuration
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Configuration, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Configuration, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Configuration, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Configuration, 2023 to 2033
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-4180
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