The Business Research Company’s Medium Voltage Circuit Breaker Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Medium Voltage Circuit Breaker Global Market Report 2023 evaluates medium voltage circuit breaker market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global medium voltage circuit breaker market is expected to grow from $5.49 billion in 2022 to $6.16 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The medium voltage circuit breaker market is expected to reach $9.30 billion in 2027 at a CAGR of 10.9%.
Increasing demand for renewable energy is expected to propel the growth of the medium voltage circuit breaker market going forward. Renewable energy is energy generated from natural sources that are continuously replenished and do not run out. Medium voltage circuit breakers play an essential role in maintaining these grids’ safe and dependable functioning by protecting electrical equipment from overloads and short circuits. The usage of circuit breakers becomes even more crucial in regulating changes in power generation and distribution since renewable energy resources like solar and wind are often intermittent. For instance, in June 2023, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global renewable capacity additions in the year 2022 was 332.7 gigawatt (GW) of energy is set to soar to more than 440 GW in 2023, representing a growth of nearly by 107 gigawatts (GW). Furthermore, it is forecasted to grow to 462.5 gigawatts (GW) in 2024. Therefore the Increasing demand for renewable energy will drive the medium voltage circuit breaker market.
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The medium voltage circuit breaker market segments in the report are:
1) By Product: Air Circuit Breaker (ACB), Vacuum Circuit Breaker (VCB), Gas Circuit Breaker (GCB), Other Products
2) By Installation: Indoor, Outdoor
3) By Application: Power Distribution, Power Transmission
4) By End-User: Residential, Commercial, Industrial, Utility
The table of contents in TBRC’s medium voltage circuit breaker market report includes:
1. Executive Summary
2. Medium Voltage Circuit Breaker Market Characteristics
3. Medium Voltage Circuit Breaker Market Trends And Strategies
4. Medium Voltage Circuit Breaker Market – Macro Economic Scenario
5. Medium Voltage Circuit Breaker Market Segmentation
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26. South America Medium Voltage Circuit Breaker Market
27. Brazil Medium Voltage Circuit Breaker Market
28. Middle East Medium Voltage Circuit Breaker Market
29. Africa Medium Voltage Circuit Breaker Market
30. Medium Voltage Circuit Breaker Market Competitive Landscape And Company Profiles
Top Major Players:
- Hyundai Motor Company
- Siemens AG
- General Electric Company
- Schneider Electric SE
- Mitsubishi Electric Corporation
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