Generator Circuit Breaker Market Size, Share & Industry Analysis, By Type (Airblast, Vacuum, SF6, Others), By Application (Coal-Fired Power Plants, Natural Gas Power Plants, Nuclear Power Plants, Others) And Regional Forecast, 2024-2032

Generator circuit breakers are electrical devices that have application in multi-unit stations between a generator and the step-up voltage transformer in which several relatively small generators are connected to a common bus. They are generally used at the outlet of high power generators ranging from 100MVA to 1800MVA to protect them in a fast, reliable, and cost-effective manner. The primary advantage of installing these circuit breakers is that fault current contributions from the generator can be interrupted by very few cycles for eliminating faults in the isolated phase bus. The rising demand for power transmission & improved power generation equipment with the increasing industrialization is the major driving factor for the market. Moreover, the environmental regulations on the SF6 circuit breaker technology are the major challenge for the market growth.

Based on the type, the market is segmented into airblast, vacuum, SF6, and others. The air blast circuit breakers dominate the global market and are expected to witness the highest CAGR during the forecast period. This is attributed to the factors associated with the increasing use of high voltage circuits in the outdoor switchyard for 220 kV lines. Airblast circuit breakers use high-pressure air as a medium of arc quenching. They are automatically operated electrical switches that use air to protect an electrical circuit from damage caused by excess current from short circuits. Its primary function is to interrupt current flow when the fault is detected.

Based on the application, the market is segmented into coal-fired power plants, natural gas power plants, nuclear power plants, and others. The coal-fired power plants segment dominates the global market and is expected to witness the highest CAGR during the forecast period. This is attributed to the increasing use of generator circuit breakers in developing countries for power generation. Coal-fired power plants are a kind of power plant that utilizes the combustion of coal to generate electricity. In recent years, there has been a positive shift of energy generation from conventional resources like coal and nuclear energy for relatively cleaner gas-based power generation. This has positively enhanced the market growth for this segment.

The major market driver for the generator circuit breaker market is the increasing demand for power generation, coupled with rapid industrialization. Growing demand for more power from various industries worldwide is regarded as a market opportunity. In addition, advanced countries are renewing their power grid construction and transmission lines, which positively boosts the market growth.

The factor that is expected to inhibit the growth of the market is the safety aspects that are stringently regulated by organizations such as OSHA and NIOSH. SF6, which is used in circuit breakers, is hazardous and adversely affects the human body and environment, which in turn hampers the market growth. In addition, the substitute power generation projects using renewable resources such as wind, solar & photovoltaic cells are the factors further hinder the market growth.

Key Players Covered:

Some of the major companies that are present in the generator circuit breaker market are ABB, Siemens, Schneider Electric, Toshiba, Alstom, Powell, TE Connectivity, Fuji Electric Co. Ltd., Eaton, Mitsubishi Electric, GE, Bharat Heavy Electricals Limited, Hitachi, and CHINT Electric.

Regional Analysis:

The generator circuit breaker market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific dominates the global market and is expected to grow at the highest CAGR during the forecast period. The region has been witnessing a definite surge in the industrial sector, with industries manufacturing a myriad of products. As industries work on high voltage, they have a direct impact on the circuit breaker market. In addition, it is imperative to use circuit breakers to protect the electrical circuits. Countries in the region, including China, India, Indonesia, and the Philippines, are observing a significant growth in commercial building and residential construction. Also, China is a major producer of electrical appliances that use circuit breakers in the region. The trade-in the countries is majorly supporting the automotive and non-automotive transportation equipment industry, which is a significant circuit breaker marketplace.

North America is another major market for generator circuit breaker market, owing to the presence of prominent key players in the region. The U.S. holds the major share in the market and dominates the market for the region, followed by Canada. The growing demand for power generation in the region due to increased industrialization is expected to propel market growth. The European market is expected to grow in an analyzed time frame, owing to the increasing demand for power supply from residential as well as commercial sectors of the region. Major countries contributing to the European market are U.K., Germany, Italy, and Russia.

Segmentation

Key Industry Developments

• In September 2020, Reliance Power in a joint venture with JERA, is developing a 745MW liquefied natural gas (LNG)-fired combined-cycle power plant in Bangladesh. The plant will have a net output of 718MW and will produce sufficient electricity to meet the demands of more than 850,000 homes in Bangladesh. In the gas turbine, the generator circuit breaker will connect the generator to a 400kV gas-insulated substation.


• In March 2021, Salt Lake Potash has started commissioning of Australia’s first sulphate of potash (SOP) processing plant at Wiluna in Western Australia. The company awarded contracts to GE for engineering, procurement and construction of the plant. The project will use two-megawatt diesel generators to power the front-end plant commissioning.