The Asia Pacific Air Circuit Breaker Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1,153.8 thousand units, showcasing a growth of 6.1% (2019-2022).
In commercial buildings such as office complexes, shopping malls, and data centers, air circuit breakers ensure uninterrupted power supply. They protect against electrical faults that could disrupt critical business operations and compromise the safety of occupants. ACBs are also employed in residential electrical panels to safeguard homes from electrical hazards. While smaller circuit breakers and fuses are used at the household level, air circuit breakers are used in larger residential complexes and apartment buildings to manage the main electrical supply. With the growing adoption of renewable energy sources such as wind and solar power, air circuit breakers are instrumental in managing the electrical output and ensuring grid stability. They protect against potential overloads or short circuits in these systems.
The transportation sector, including railways and airports, relies on air circuit breakers for safe and reliable electrical distribution. They play a crucial role in preventing disruptions and accidents in transportation infrastructure. In the oil and gas sector, where hazardous environments are commonplace, air circuit breakers safeguard personnel and equipment from electrical faults. Their ability to operate in harsh conditions makes them essential components in this industry. Data centers, which house critical computing and networking equipment, depend on air circuit breakers to maintain a constant power supply. Any disruption can result in data loss and financial losses.
According to the National Investment Promotion and Facilitation Agency, one of the leading recipients of FDI in the country, the construction development sector has received a total inflow of $26.35 billion from April 2000 to March 2023. In India, the construction industry allows for 100% foreign direct investment through the automatic route. This investment is permitted explicitly in completed projects to operate and manage townships, malls/shopping complexes, and business constructions. The automatic route allows FDI in the construction industry up to 100%. This allowance applies to urban infrastructure projects, including urban transport, water supply, sewerage, and sewage treatment. Therefore, investments in the real estate and renewable energy sectors in the Asia Pacific countries will boost the expansion of the regional market.
The China market dominated the Asia Pacific Air Circuit Breaker Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $510.3 million by 2030. The Japan market is registering a CAGR of 5.4% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.8% during (2023 - 2030).
Based on Application, the market is segmented into Industrial, Commercial, and Residential. Based on Type, the market is segmented into Air Blast Circuit Breaker, and Plain Air Circuit Breaker. Based on Voltage, the market is segmented into Low-Voltage, and Medium-Voltage. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Air Circuit Breaker Market is Predict to reach USD 4.5 Billion by 2030, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation PLC, Hitachi, Ltd., Fuji Electric Co. Ltd., Toshiba Corporation, ENTEC Electric & Electronic Co. Ltd, and Havells India Ltd.
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Type
By Voltage (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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