A 1.5x growth to be observed in the global gas circuit breaker market
Gas circuit breaker is mainly used as high voltage current chopping device. Sulphur hexafluoride (SF6) is used to absorb free electron from the disconnector chamber owing to its negative affinity property. Usually fuses, oil circuit breaker etc., are used, however gas circuit breakers are considered as a more efficient means to chop voltage as compared to the conventional methods typically for applications involving medium and high voltages. High voltage applications is the major deployment area for gas circuit breakers.
Future Market Insights has drafted a new research report on global gas circuit breakers market. According to this research report, the global market is expected to grow at a CAGR of 4.6% during the period of forecast to reach a valuation of more than US$ 800 Mn by the end of the year of assessment from a value of around US$ 518 Mn in 2017. Increasing number of government projects for high voltage transmission lines and increasing number of orders for high voltage substations are driving this market. Increasing technological advancements in transmission grids and significant demand for outdoor ultra-high voltage gas circuit breakers for industrial purposes are likely to boost the growth of the global gas circuit breaker market over the period of forecast.
Industrial segment continues to show its dominance throughout the forecast period
The industrial segment in the end use category is expected to grow at a significant pace to reach a high valuation. The use of gas circuit breakers in the industrial sector has been rising since past several years. The increasing adoption of gas circuit breakers has made the industrial segment a highly lucrative one with greater market attractiveness. In 2017, the industrial segment is valued at about US$ 372 Mn and is anticipated to touch a value of more than US$ 580 Mn by the end of the year of assessment (2027). This rise in value is accompanied by moderate growth of the segment. The industrial segment is projected to rise at a CAGR of 4.6% throughout the period of assessment.
Gas circuit breakers to witness less adoption in the residential sector
Typically residential sector is marked with low to medium voltages. Gas circuit breakers are typically used to chop voltages that range from medium to high magnitudes. The use of gas circuit breakers in the industrial sector is less compared to industrial sector where huge power surges are prevalent. The residential segment, is thereby expected to show sluggish growth rate throughout the period of assessment. It is poised to register a low value CAGR of 3.9% during the said period. The residential segment reflects a market valuation of US$ 40 Mn in 2017 and is estimated to reach a value bit under US$ 59 Mn by the end of the year of assessment.
Regional understanding of various end use segments
In the North America gas circuit breaker market, the industrial segment reflects a value a bit under US$ 90 Mn in 2017. In the Western Europe gas circuit breaker market, the residential segment is expected to reflect higher growth rate than the industrial segment and is poised to register a 3.3% value CAGR throughout the forecast period. Asia Pacific excluding Japan (APEJ) region also reflects high growth potential for the global market. In the Asia Pacific excluding Japan (APEJ) gas circuit breaker market, the industrial segment is projected to reach a noteworthy value CAGR of 5.6% during the 2017-2027 timeline.
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