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High Voltage Circuit Breaker Market Size, Share & Industry Analysis, By Type (Oil Circuit Breaker, SF6 Circuit Breaker, Vacuum Circuit Breaker , Air Circuit Breaker), By End-User (Construction, Power Generation, Transportation) And Regional Forecast 2022-2029

Region : Global | Report ID: FBI105713 | Status : Ongoing

 

KEY MARKET INSIGHTS

High Voltage Circuit Breaker (HVCB) assists private, and public utility companies manage electricity demands by generating, transmitting, and stopping electric current under the usual circuit-related conditions. Furthermore, the high voltage circuit breaker yields and insulates electric currents under unusual circuit-related situations like short-circuits. HVCB works well in both closed and open circuits by acting as an insulator in the open circuit and as a conductor in the closed circuit and can switch between open and closed courses rapidly, without the risk of generating dangerous levels of voltage, making it a more reliable alternative to other circuit breakers. This characteristic of HVCB has attracted huge demand across regions.


Based on the type, the HVCB market is classified into an oil circuit breaker, SF6 circuit breaker, vacuum circuit breaker, and air circuit breaker. The SF6 circuit breaker segment accounts for a significant share in the market and is expected to maintain its attractiveness during the forecast period, as it provides greater efficiency and is an overall better alternative. The SF6 HVCB replaces the air with sulfur hexafluoride, gas with no color and no toxicity. The factor that makes it a better choice for air breakers is that the sulfur hexafluoride is not disposed into the atmosphere after every use.


Based on the end-user, the global market is classified into construction, power generation, and transportation. The power generation industry segment accounts for a significant share in the market, as the use of HVCBs is exponentially higher in the industrial use sectors than the commercial and residential sectors that mostly use low voltage circuit breakers.


Energy storage providers across the globe are investing in better renewable sources of energy. For instance, the U.S. has decided to replace most of its old and outdated electricity grid system, which is old and regularly fails, with a new and updated infrastructure. The changing grid systems have led to increasing demand for HVCBs is growing at a steady rate, which leads to more investments in the sector. This factor is likely to drive the global high voltage circuit breaker market during the forecast period.


The critical market restraint for the market is the high cost of capital investment required for installation in the high voltage circuit breaker sector. In addition, there are periods of flat demand that stagnate the market. Furthermore, inadequate and outdated equipment and the lack of proper renewal and integration with the current interface also affect the market's growth, making it stagnant.


Key Market Driver -

Increasing investments in the renewable energy sector leading to advanced power systems.

Key Market Restraint -

High installation costs, occasional periods of low and flat demand and the need to update outdated equipment.


Key Players Covered:


Some of the major companies in the high voltage circuit breaker market are ABB, GE, Schneider Electric, Eaton, Mitsubishi Electric Corporation, Siemens, Hitachi, Toshiba, Larsen and Toubro, Camsco, Atom Power Inc., Salzer Technologies Limited, Kirloskar Electric Co Ltd, and Xiamen Huadian Switchgear Co. Ltd.


Regional Analysis:


The high voltage circuit breaker market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a significant share of the global market, as the rate of conversion from outdated grids to HVCBs is rapid and is likely to boost the market. The North American market is also increasing due to the growing population and the demand for better electric transmission in the U.S. and Canada.


The fastest-growing market for the high voltage circuit breaker is estimated to be the Asia-Pacific region due to developing nations such as China, Japan, India, Australia, and South Korea. China and Japan are competing with countries like the U.S. and U.K. in terms of market standing and India, South Korea, and Australia, with an increasing number of HVCB based projects. In addition, Africa is the region with the best scope for the HVCB market, with the rapid increase in industrialization and electrification bound to boost the market.


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Segmentation






















 ATTRIBUTES 


 DETAILS     

 


By Type




  • Oil Circuit Breaker

  • SF6 Circuit Breaker

  • Vacuum Circuit Breaker

  • Air Circuit Breaker



 


By End-User




  • Construction

  • Power Generation

  • Transportation



 


By Geography




  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of LA)

  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)



Key Industry Developments



  • Siemens acquired C&S Electric in January 2020, which is an electronic equipment manufacturer, along with its Indian branch. The acquisition happened with the purpose of fulfilling a growing demand for electrification products.

  • Eaton Cummins Automated Transmission Technologies launched their Endurant XD series, which uses the HVCB on highways to monitor heavy vehicles. The series uses a high-performance auto transmission system design to keep track of the vehicles.


  • Ongoing
  • 2021
  • 2018-2020

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