Asia Pacific Circuit Breaker Market Size - By Voltage (Low, Medium, High), Installation (Indoor, Outdoor), Application (Power Distribution, Power Transmission), End Use (Residential, Commercial, Industrial, Utility), Rated Voltage, Rated Current & Forecast, 2023 – 2032

Asia Pacific Circuit Breaker Market Size

Asia Pacific Circuit Breaker Market size was valued at over USD 9.3 billion in 2023 and is projected to expand 10.4% CAGR from 2024 to 2032, due to the rapid urbanization and industrialization across the region, which in turn are increasing the demand for reliable electrical infrastructure, driving the need for advanced circuit protection solutions. Additionally, the expansion of renewable energy sources and the electrification of transportation are fueling the demand for circuit breakers in traditional and emerging applications.
 

Growing emphasis on energy efficiency and smart grid technologies is spurring the adoption of modern circuit breakers equipped with advanced features. In addition, government initiatives promoting grid modernization and infrastructure development in countries like China and India are expected to provide significant opportunities for market growth in the Asia-Pacific region.

COVID-19 Impact

The Asia Pacific circuit breaker market, like many industries, experienced the impact of the COVID-19 pandemic. Initially, there were disruptions in the supply chain, leading to production delays and shortages of critical components. Lockdowns and social distancing measures also hindered construction and infrastructure projects, affecting the demand for circuit breakers. However, the market demonstrated resilience as the pandemic underscored the importance of reliable electrical infrastructure, prompting increased investments in the healthcare sector and data centers, both of which require robust circuit protection.

Asia Pacific Circuit Breaker Market trends

Asia-Pacific circuit breaker market is characterized by several prominent trends including the ongoing shift towards the adoption of smart and digital circuit breakers, driven by the increasing demand for enhanced grid management and remote monitoring capabilities. The region is witnessing a growing emphasis on energy efficiency and sustainability, leading to the incorporation of eco-friendly materials and energy-saving technologies in circuit breaker designs. The electrification of transportation and the development of electric vehicle charging infrastructure are emerging as significant growth drivers for the market. Furthermore, stringent safety regulations and the need to protect sensitive electronic equipment are promoting the use of advanced circuit breakers in various industrial applications.

Asia Pacific Circuit Breaker Market Analysis

Asia Pacific Low voltage circuit breakers market was worth over USD 4 billion in 2022 and is anticipated to reach USD 12.4 billion by 2032. Government-led electrification projects aimed at extending access to electricity in rural areas are fostering a substantial demand for reliable low voltage circuit breakers. Simultaneously, the escalating trend towards industrial automation and Industry 4.0 is fueling the need for advanced circuit breakers capable of safeguarding intricate manufacturing processes and sensitive industrial machinery. Moreover, the pressing need to replace outdated electrical infrastructure and upgrade to modern, efficient circuit breakers is driving investments in infrastructure improvement projects.

Circuit breakers with < 500V voltage rating are valued at over USD 2.7 billion in 2022 and is expected to reach USD 8.2 billion by 2032. The escalating demand for data centers and the digitalization of businesses are fueling the need for reliable power distribution and backup systems, making low-voltage circuit breakers integral components in ensuring uninterrupted operations. The burgeoning construction of smart cities and infrastructure projects across the region, driven by urbanization and the need for sustainable urban development, necessitates advanced low-voltage circuit breakers to provide efficient and safe electrical networks.

Circuit breakers with < 500A current rating across Asia Pacific region obtained a market share of over 31% in 2022 and is estimated to grow at a CAGR of over 11% through 2032. This growth can be attributed to the construction of residential and commercial buildings. These breakers play a crucial role in distributing and safeguarding low-voltage circuits within these structures. Moreover, the increasing emphasis on safety and protection in electrical systems fuels demand for these technologies, as they provide features like overload protection, short-circuit protection, fault detection, and ensure the safety of equipment and personnel across industrial areas.

Outdoor installation held about 63% of the Asia Pacific Circuit breaker market share in 2022 and is slated to cross USD 14 billion by 2032. This supremacy is attributed to the expansion of utility-based transmission network and the growing adoption of on-site generation technologies. The increasing prevalence of these systems, coupled with the necessary infrastructure, is a key driver for the demand for outdoor circuit breakers. Furthermore, outdoor installations are preferred due to their reduced risk of fault escalation and relatively lower initial capital expenses, which further boost the increasing demand for these products.

Asia Pacific Circuit breaker market is likely to register at a 10.5% CAGR from 2023 to 2032. Circuit breakers are renowned for their exceptional reliability and performance, making them the preferred choice for power distribution networks. Their ability to rapidly and effectively interrupt fault currents ensures the uninterrupted and dependable supply of electricity, making them highly sought-after. These devices play a pivotal role in swiftly addressing faults such as short circuits and overloads within power distribution systems.

The residential sector plays a pivotal role in propelling the Asia-Pacific circuit breaker market growth. The construction of new residential structures, including houses, apartments, and condominiums, is a key driver for the demand for circuit breakers. Circuit breakers play a vital role in guaranteeing the safety of residential electrical systems, offering protection against electrical faults like short circuits and overloads, thus mitigating the risks of electrical hazards, fires, and damage to appliances and equipment. Moreover, building codes and regulatory standards mandate the installation of circuit breakers in residential dwellings to meet safety requisites, further augmenting the Asia Pacific circuit breaker market development.

China circuit breaker market size is predicted to surpass USD 7.6 billion in 2032, on account of the rapid urbanization and industrialization in the country, which have led to a surge in the demand for reliable electrical infrastructure, boosting the need for advanced circuit protection solutions. Additionally, China's ambitious renewable energy targets and the expansion of its smart grid infrastructure require state-of-the-art circuit breakers capable of handling intermittent energy sources and ensuring grid stability.

Asia Pacific Circuit Breaker Market Share

Notable companies operating in the Asia Pacific circuit breaker market include:

• ABB
• Mitsubishi Electric Corporation
• Eaton Corporation
• Toshiba International Corporation
• Schneider Electric
• CG Power & Industrial Solutions Ltd.
• General Electric
• Siemens Energy
• HD HYUNDAI ELECTRIC & ENERGY SYSTEM CO., LTD.
• WEG
• LS ELECTRIC Co., Ltd
• Powell Industries
• Kirloskar Electric Company
• Sensata Technologies, Inc.
• alfanar Group

Major circuit breaker manufacturers are strategically bolstering their market presence in the Asia-Pacific region through focusing on establishing robust local manufacturing and assembly facilities, enabling them to meet regional demand efficiently and reduce lead times. These manufacturers are actively engaging in partnerships and collaborations with regional distributors and suppliers to expand their reach and distribution networks across Asia Pacific. Additionally, they are tailoring their product portfolios to address the specific needs and preferences of the diverse Asian markets, including developing circuit breakers with advanced features suitable for local industries and applications.
 

Investment in research and development centers within the region allows them to innovate and create solutions aligned with the rapidly evolving technological landscape. Furthermore, they are staying compliant with local regulations and standards while ensuring a strong aftermarket support system. These concerted efforts by major circuit breaker manufacturers underscore their commitment to capturing a significant share of the burgeoning Asia Pacific circuit breaker market.
 

Asia Pacific Circuit Breaker Industry News:

• In February 2023, Mitsubishi Electric Corporation acquired Scibreak AB, a Sweden-based Direct Current Circuit Breaker (DCCB) developer. The companies combined their expertise in circuit breaker technology for developing efficient solutions for HVDC networks to promote the adoption of renewable energy sources in the grid. The acquisition boosted the company’s product portfolio, offering an extensive range of solutions to customers and gaining a larger market share worldwide.
   
• In June 2021, Toshiba Energy Systems and Solutions Corporation collaborated with Meidensha Corporation for the advancement of 72kV/84kV Gas-insulated Switchgear (GIS) by using natural origin gas, which holds no Sulfur Hexafluoride (SF6). The companies utilized Vacuum Circuit Breakers (VCB) to interrupt high current and dry air from the main circuit during GIS development. This product development allowed the company to strengthen its presence across the global circuit breaker industry by offering high-end products to consumers.
   

This Asia Pacific circuit breaker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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By Voltage

• Low
  • ACB
  • MCB
  • MCCB
  • Others 
• Medium
  • ACB
  • VCB
  • GCB
  • Others
• High
  • ACB
  • GCB
  • VCB
  • OCB

By Rated Voltage

• < 500 V
• 500 V to 1 kV
• 1 to 15 kV
• 15 to 50 kV
• 50 to 70 kV
• 70 kV to 145 kV
• 145 kV to 300 kV
• 300 kV to 550 kV
• 550 kV to 800 kV
• > 800 kV

By Rated Current

• < 500 A
• 500 to 1,500 A
• 1,500 to 2,500 A
• 2,500 to 4,500 A
• > 4,500 A

By Installation

• Indoor
• Outdoor

By Application

• Power Distribution
• Power Transmission

By End Use

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• China
• India
• Japan
• South Korea
• Australia
• Indonesia
• Philippines
• New Zealand
• Malaysia
• Thailand
• Singapore