Medium Voltage Circuit Breaker Market Size - By Product (ACB, VCB, GCB), By End Use (Residential, Commercial, Industrial, Utility), Growth Drivers & Forecast, 2024 – 2032

Medium Voltage Circuit Breaker Market Size

Medium Voltage Circuit Breaker Market size was valued at USD 7 billion in 2023 and is poised to register around 9.6% CAGR between 2024 and 2032. A MV circuit breaker is an electrical switching device designed to protect electrical systems and equipment operating at medium voltage levels, typically between 1 kV and 72.5 kV. It is an essential component of power distribution networks, industrial installations, and commercial facilities where medium voltage electrical systems are used. In addition, growing urbanization, and industrialization in line with rising demand for robust and reliable electrical infrastructure will boost business landscape.
 

Medium voltage circuit breaker market is anticipated to gain significant growth on account of increasing integration of renewable energy sources including solar and wind into the power grids. The transition toward smart grids and digitalization in power distribution systems is driving the demand for advanced medium voltage circuit breakers. Ongoing replacement and upgrading of existing infrastructure combined with adoption of advanced protection mechanism, enhanced reliability, and reduced maintenance requirements will energize the industry outlook. Moreover, stringent regulations related to safety, environmental protection, and energy efficiency are influencing the design and manufacturing of medium voltage circuit breakers.

COVID-19 Impact

The pandemic has disrupted global supply chains, affecting the availability of raw materials, components, and finished products. Manufacturers of medium voltage circuit breakers may have experienced delays in production or faced challenges in sourcing necessary components, impacting their ability to meet customer demand. Many construction projects and infrastructure developments were temporarily halted due to lockdowns and restrictions imposed to contain the spread of COVID-19. This slowdown in construction activities have affected the demand for medium voltage circuit breakers in sectors including commercial buildings, industrial plants, and urban infrastructure projects.
 

Medium Voltage Circuit Breaker Market Trends

Government initiatives and investments in infrastructure development, particularly in emerging economies, are propelling the growth of the medium voltage circuit breaker market. Upgrading electrical networks, expanding power transmission and distribution infrastructure, and improving access to electricity in rural areas are the key factors which creates opportunities for the installation of these units. Growing need for advanced distribution networks and electrical systems along with increasing emphasis on the development of circuit breakers that offers enhanced safety features comprising of protection, detection, and arc fault will complement the business outlook.
 

Medium Voltage Circuit Breaker Market Analysis

The ACB medium voltage circuit breaker market is estimated to reach USD 3 billion by 2032. The integration of digital technologies and the growing focus toward development of smart grids are driving the demand for ACB circuit breakers. Intelligent ACBs with built-in communication capabilities, remote monitoring, and predictive maintenance are the key parameters which will contribute the deployment of these circuit breakers. Furthermore, paradigm shift toward integration of renewable sources coupled with expansion and upgradation of power transmission and distribution networks will stimulate the product deployment across the key geographies.
 

The VCB medium voltage circuit breaker market revenue surpassed USD 3 billion in 2022 and is slated to exceed USD 8 billion by 2032. The industry will gain significant growth owing to the increasing investments in infrastructure projects, industrial facilities, and urban development. Ongoing deployment of compact and lightweight VCB designs to optimize space utilization in electrical installations across data centers, compact substations, and switchgears panels will influence the market dynamics. Additionally, vacuum technology offers excellent arc quenching properties, making VCBs well-suited for interrupting fault currents in renewable energy generation systems.
 

The industrial medium voltage circuit breaker market is forecasted to witness a CAGR of over 10% through 2032. Increasing demand of advanced manufacturing processes and industrial automation for efficient and reliable operation will complement the deployment of these units. Predictive maintenance, condition monitoring, and remote monitoring are the key parameters which enhance operational efficiency and minimize downtime of industrial processes by identifying potential faults, enhance equipment performance, and reduced unplanned shutdowns. The growing emphasis on integrating wide-ranging frequency distribution links along with rising concern for energy efficiency will augment the positive business scenario.
 

Asia Pacific medium voltage circuit breaker market is projected to attain gains at nearly 10% up to 2032. The region is experiencing substantial growth on account of infrastructure development including the construction of power transmission & distribution networks, urban infrastructure, and industrial facilities. Government of respective regions are increasingly focusing on renewable energy sources to meet their sustainability goals will contribute the adoption of these technology. Rapid industrialization and growing manufacturing sectors across the region will increase the demand for medium voltage circuit breakers. Rising urbanization and the development of commercial buildings, shopping malls, hotels, and office complexes will fuel the demand for medium voltage circuit breaker.
 

Medium Voltage Circuit Breaker Market Share

The key industry players operating in medium voltage circuit breaker market are:

• ABB
• Siemens
• Schneider Electric
• Eaton
• Mitsubishi Electric Corporation
• Toshiba International Corporation
•  General Electric
•  Fuji Electric FA Components & Systems Co., Ltd
• WEG, LS ELECTRIC Co., Ltd
•  HD HYUNDAI ELECTRIC CO., LTD
•  L&T Electrical & Automation
• Powell Industries.
   

Medium voltage circuit breaker industry news

• In July 2022, Eaton acquired 50% stake in the circuit breaker business of the Jiangsu Huineng Electric Co., Ltd., a company which manufactures and markets LV circuit breakers across China. This strategic move marks an important role in the company’s growth plan as the combination of application-designed products with the global distribution channels allowed them to benefit from opportunities in the high-growth sectors including renewable energy, grid modernization, industrial and commercial buildings. This acquisition enabled the company to strengthen its market presence across the circuit breakers industry.
   

This medium voltage circuit breaker market research report includes 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 Product

• ACB
• VCB
• GCB
• Others

By End Use

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • South Africa
• Latin America
  • Brazil
  • Chile