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High Voltage Circuit Breaker Market

High Voltage Circuit Breaker Market Size, Share & Trends Analysis Report By Product (ACB, GCB, VCB, OCB), By End Use (Commercial, Industrial, Utility), Region, And Segment Forecasts, 2023-2031.

Report ID : 2261 | Published : 2023-12-13 | Pages: 179 | Format: PDF/EXCEL

High Voltage Circuit Breaker Market Size is valued at USD 2.43 Billion in 2022 and is predicted to reach USD 4.76 Billion by the year 2031 at a 7.94% CAGR during the forecast period for 2023-2031.

High Voltage Circuit Breaker Market

High-voltage circuit breaker devices are employed in power systems operating at voltages over 1,000 volts to terminate or disrupt the passage of electric current. It is vital in guaranteeing the security and dependability of electricity transmission and distribution networks. High-voltage circuit breakers are available in several varieties, including air, gas, and vacuum circuit breakers, each equipped with distinct arc quenching processes. Protective relays are utilized to identify faults and are specifically engineered to efficiently interrupt excessive currents. Consistent upkeep and surveillance are crucial for ensuring their dependable functionality.

These circuit breakers are appropriate for use in any climate. From little devices meant to safeguard a single household item to enormous equipment that may safeguard the high-voltage circuits that supply electricity to a whole city, electrical circuit breakers come in a wide range of sizes. Furthermore, HVCBs are more dependable than other circuit breakers because they can quickly switch between open and closed courses without producing dangerous levels of voltage, and they work well in both open and closed circuits by insulating in the former and conducting in the latter. This feature of HVCB has caused it to be in high demand in many places.

However, the market growth is hampered by the high-cost criteria for the safety and health of the high voltage circuit breaker market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high voltage circuit breaker because it's very expensive initial expenditure needed to install high voltage circuit breakers. Also, the market might become stagnant during times of low demand. Inadequate and old machinery and improper renovation and integration with the present interface also contribute to the market's stagnation and lack of growth.

The market for high-voltage circuit breakers was significantly affected by the COVID-19 outbreak. During the initial phases of the pandemic, the production and delivery of high-voltage circuit breakers were hindered by supply chain interruptions, manufacturing slowdowns, and logistical issues. Demand was momentarily dampened due to decreased building activity and the postponement of projects in several industries and sectors.

Competitive Landscape

Some Major Key Players In The High Voltage Circuit Breaker Market:

  • Hitachi Energy Ltd.
  • Siemens Energy
  • Pfiffner Group
  • CG Power & Industrial Solutions Ltd.
  • Mitsubishi Electric Corporation
  • Toshiba International Corporation
  • General Electric
  • TE Connectivity
  • Zhejiang Zhegui Electric Co., Ltd.
  • Liyond
  • ZHIYUE GROUP CO., LTD
  • Zhejiang Tengen Electric Co., Ltd.
  • Powell Industries
  • Others

Market Segmentation:

The high-voltage circuit breaker market is segmented based on product and end-use. The product segment is divided into ACB, GCB, VCB, and OCB. By end use, the market is segmented into commercial, industrial, and utility. 

Based On The Product, The VCB High Voltage Circuit Breaker Market Segment Is A Major Contributor To The High Voltage Circuit Breaker Market. 

The VCB high voltage circuit breaker market is expected to lead with a major global market share in 2022. The vacuum circuit breakers' superior arc-quenching capabilities and environmentally friendly nature (they don't use SF6 gas) have made them the go-to for high-voltage applications. VCB (Vacuum circuit breakers) are the best option for the increasing need for renewable energy sources and grid modernization projects, which require dependable circuit protection. Substations and industrial settings often use them because of their small size and reduced maintenance needs.

Utility Segment To Witness Growth At A Rapid Rate.

The utility industry makes up the bulk of high-voltage circuit breaker usage because utilities also support using improved circuit breaker technology to make the system more resistant to cyber threats and severe weather. Utilities are incentivized to respond to changes in the energy landscape and improve power distribution reliability by government restrictions and the need for increased energy efficiency. This drives market expansion, especially in countries like the US, Germany, the UK, China, and India.

In The Region, The Asia Pacific High Voltage Circuit Breaker Market Holds A Significant Revenue Share.

The Aisa Pacific high-voltage circuit breaker market is expected to record the maximum market revenue share in the near future. It can be attributed to the increasing number of people and the need for more efficient power transmission. The fast transition from old to new grids to HVCBs in Asia Pacific drives demand and accounts for a large portion of the worldwide market. In addition, Europe is estimated to grow rapidly in the global high-voltage circuit breaker market because developing nations are rapidly becoming more urbanized and industrialized, leading to a dramatic increase in the demand for energy and pushing the need to upgrade and expand power infrastructure.

Recent Developments:

  • In July 2023, Siemens introduced two new variants of its advanced Sentron 3WA Power Circuit Breakers, also referred to as Air Circuit Breakers (ACBs). The Series 3WA3 complies with the UL 1066 and IEC 60947-2 standards, allowing users to utilize it globally.
  • In Aug 2022, Hitachi Energy introduced the world's inaugural eco-efficient 420-kilovolt (kV) circuit-breaker in collaboration with CIGRE Session 2022. This innovative technology represents a major achievement in the rapid development of its advanced EconiQ™ high-voltage product lineup, as previously outlined during the CIGRE Session 2021. 

High Voltage Circuit Breaker Market Report Scope

Report Attribute

Specifications

Market Size Value In 2022

USD 2.43 Billion

Revenue Forecast In 2031

USD 4.76 Billion

Growth Rate CAGR

CAGR of 7.94 % from 2023 to 2031

Quantitative Units

Representation of revenue in US$ Million and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Product, End-Use

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea

Competitive Landscape

Hitachi Energy Ltd., Siemens Energy, Pfiffner Group, CG Power & Industrial Solutions Ltd., Mitsubishi Electric Corporation, Toshiba International Corporation, General Electric, TE Connectivity, Zhejiang Zhegui Electric Co., Ltd., Liyond, ZHIYUE GROUP CO., LTD, Zhejiang Tengen Electric Co., Ltd., and Powell Industries.

Customization Scope

Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

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Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global High Voltage Circuit Breaker Market Snapshot

Chapter 4. Global High Voltage Circuit Breaker Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Product Estimates & Trend Analysis

5.1. By Product, & Market Share, 2019 & 2031

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 for the following By Product:

5.2.1. ACB

5.2.2. GCB

5.2.3. VCB

5.2.4. OCB 

Chapter 6. Market Segmentation 2: By End Use Estimates & Trend Analysis

6.1. By End Use & Market Share, 2019 & 2031

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 for the following By End Use:

6.2.1. Commercial

6.2.2. Industrial

6.2.3. Utility

Chapter 7. High Voltage Circuit Breaker Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America High Voltage Circuit Breaker Market revenue (US$ Million) estimates and forecasts By Product, 2023-2031

7.1.2. North America High Voltage Circuit Breaker Market revenue (US$ Million) estimates and forecasts By End Use, 2023-2031

7.1.3. North America High Voltage Circuit Breaker Market revenue (US$ Million) estimates and forecasts by country, 2023-2031

7.2. Europe

7.2.1. Europe High Voltage Circuit Breaker Market revenue (US$ Million) By Product, 2023-2031

7.2.2. Europe High Voltage Circuit Breaker Market revenue (US$ Million) By End Use, 2023-2031

7.2.3. Europe High Voltage Circuit Breaker Market revenue (US$ Million) by country, 2023-2031

7.3. Asia Pacific

7.3.1. Asia Pacific High Voltage Circuit Breaker Market revenue (US$ Million) By Product, 2023-2031

7.3.2. Asia Pacific High Voltage Circuit Breaker Market revenue (US$ Million) By End Use, 2023-2031

7.3.3. Asia Pacific High Voltage Circuit Breaker Market revenue (US$ Million) by country, 2023-2031

7.4. Latin America

7.4.1. Latin America High Voltage Circuit Breaker Market revenue (US$ Million) By Product, (US$ Million) 2023-2031

7.4.2. Latin America High Voltage Circuit Breaker Market revenue (US$ Million) By End Use, (US$ Million) 2023-2031

7.4.3. Latin America High Voltage Circuit Breaker Market revenue (US$ Million) by country, 2023-2031

7.5. Middle East & Africa

7.5.1. Middle East & Africa High Voltage Circuit Breaker Market revenue (US$ Million) By Product, (US$ Million) 2023-2031

7.5.2. Middle East & Africa High Voltage Circuit Breaker Market revenue (US$ Million) By End Use, (US$ Million) 2023-2031

7.5.3. Middle East & Africa High Voltage Circuit Breaker Market revenue (US$ Million) by country, 2023-2031

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Hitachi Energy Ltd.

8.2.2. Siemens Energy

8.2.3. Pfiffner Group

8.2.4. CG Power & Industrial Solutions Ltd.

8.2.5. Mitsubishi Electric Corporation

8.2.6. Toshiba International Corporation

8.2.7. General Electric

8.2.8. TE Connectivity

8.2.9. Zhejiang Zhegui Electric Co., Ltd.

8.2.10. Liyond

8.2.11. ZHIYUE GROUP CO.,LTD

8.2.12. Zhejiang Tengen Electric Co., Ltd.

8.2.13. Powell Industries

8.2.14. Others

Segmentation of High Voltage Circuit Breaker Market-

High Voltage Circuit Breaker Market By Product-

  • ACB
  • GCB
  • VCB
  • OCB

High Voltage Circuit Breaker Market Seg

High Voltage Circuit Breaker Market By End Use-

  • Commercial
  • Industrial
  • Utility

High Voltage Circuit Breaker Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the High Voltage Circuit Breaker Market?

High Voltage Circuit Breaker Market expected to grow at a 7.94% CAGR during the forecast period for 2023-2031.

TE Connectivity, Zhejiang Zhegui Electric Co., Ltd., Liyond, ZHIYUE GROUP CO., LTD, Zhejiang Tengen Electric Co., Ltd., and Powell Industries.

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