Lucintel Forecasts Global Air Circuit Breaker Market to Reach $4.9 billionby 2030.

iCrowd Newswire
28 Sep 2023, 03:02 GMT+10

"According to a market report by Lucintel, the future of the global air circuit breaker market looks promising with opportunities in the industrial, commercial, and residential markets. The global air circuit breaker market is expected to reach an estimated $4.9 billion by 2030 with a CAGR of 5.6% from 2024 to 2030. The major drivers for this market are increasing funding in initiatives related to renewable energy, rising concerns over grid security and safety, and growing need for energy storage and distributed energy storage systems.

A more than 150 – page report is developed to understand Trends, opportunity and forecast in air circuit breaker market to 2030 by type (air blast circuit breaker and plain air circuit breaker), voltage (low voltage and medium voltage), application (industrial, commercial, and residential), and region (North America, Europe, Asia Pacific, and the Rest of the World)In this market, air blast circuit breaker and plain air circuit breaker are the major segments of air circuit breaker market by type. Lucintel forecasts that air blast circuit breaker will remain the higher growing segment over the forecast period due to surge in demand for reliable and environmentally friendly energy solutions, improved operational efficiency and stability, and growing impact of automation in the residential and commercial sectors.

Within this market, residential will remain the fastest growing segment over the forecast period due to consistent electrification efforts in both rural and urban areas and growing number of government-led urban development projects, and expansion of various sectors including building and construction, transportation, IT, and IT services.

APAC will remain the largest region over the forecast period due to strong economic growth, rising number of manufacturing and industrial units, and growing investments in expanding trnamission and distribution networks in this region.

ABB, Eaton Corporation, Fuji Electric, Larsen & Toubro, Siemens, Schneider Electric, Hitachi, WEG Industries, C&S Electric, and HPL Electric & Power are the major suppliers in the air circuit breaker market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:Roy AlmaguerLucintelDallas, Texas, USAEmail: roy.almaguer@lucintel.comTel. 972.636.5056

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