Medium Voltage Circuit Breaker Market Size, Share, Opportunities, And Trends By Type (Air Circuit Breaker, Vacuum Circuit Breaker, SF6 Circuit Breaker, Oil Circuit Breaker), By Application (Power Generation Stations, DataCenters, Residential & Commercial Buildings, Industrial Plants, Others), And By Geography - Forecasts From 2023 To 2028

The medium voltage circuit breaker market is projected to grow considerably during the forecast period.

A medium voltage circuit breaker (MVCB) is a protective device used to break an electrical circuit in case of a fault or overload and is designed to protect electrical equipment and systems that operate at medium voltage levels, typically between 1kV and 72.5kV. Medium voltage circuit breakers are used in various applications such as power distribution, generation, data centres, and transmission systems, as well as in industrial, commercial, and residential settings, and medium voltage circuit breakers are available in various types such as air circuit breakers, vacuum circuit breakers, SF6 circuit breaker, and oil circuit breaker. The increasing demand for reliable and efficient power systems, the rise of renewable energy sources, and a greater focus on safety and regulatory compliance in the industry are expected to boost the medium voltage circuit breaker market growth.

The growing demand for power distribution and renewable energy systems will boost the medium voltage circuit breaker market

The medium voltage circuit breaker is an essential component in different electrical systems and applications, playing a critical role in protecting equipment, ensuring safety, and maintaining reliable power distribution and is also used in renewable energy systems, such as solar and wind power, to manage fluctuations in power output and protect equipment from damage. The increasing demand for power distribution and renewable energy systems will boost the medium voltage circuit breaker market. According to the International Energy Agency (IEA), the global investment in electricity networks, including power distribution systems, reached $363 billion in 2020, up from $345 billion in 2019, and renewable energy sources accounted for 72% of new power generation capacity added globally in 2019. The International Renewable Energy Agency (IRENA) reported that the global installed capacity of renewable energy sources reached 2,799 GW in 2019, up from 2,378 GW in 2018. The demand for medium-voltage circuit breakers is expected to increase significantly with the growing adoption of renewable energy sources and the expansion of smart grid technologies.

During the forecast period, the Asia Pacific region is expected to hold a significant market share.

The Asia-Pacific region is expected to hold a significant market share in the medium voltage circuit breaker market due to the increasing demand for electricity, rapid industrialization, and urbanization in emerging economies such as China, India, and Japan. In 2021, the Indian government launched the "National Programme on Advanced Chemistry Cell Battery Storage" to promote the domestic manufacturing of advanced chemistry cell batteries, which are used in medium voltage circuit breakers. In 2020, the Japanese government announced a budget of approximately $3.2 billion for the development of renewable energy and energy storage technologies.  In 2019, the Chinese government launched the "National Major Science and Technology Project for Energy Saving and Environmental Protection in the Industry Sector" to promote the adoption of energy-saving technologies and equipment, including medium voltage circuit breakers in various industries. These factors all add to the market growth of medium voltage circuit breakers in the Asia-Pacific region.

Key Developments

August 2021: General Electric (GE) announced the launch of medium voltage circuit breakers, which have advanced connectivity and analytics capabilities for improved safety, reliability, and performance.

April 2021: Eaton announced the expansion of its medium voltage circuit breaker portfolio with the launch of its new Power Xpert XGIS gas-insulated switchgear with advanced monitoring and diagnostic capabilities.

February 2021: ABB launched a new medium voltage circuit breaker, the VD4-AF, with a compact design and advanced arc-quenching technology with more safety and reliability, making them suitable for use in a wide range of applications.

Segmentation

• By Type

• • Air Circuit Breaker
  • Vacuum Circuit Breaker
  • SF6 Circuit Breaker
  • Oil Circuit Breaker
• By Application

• • Power Generation Stations
  • DataCenters
  • Residential & Commercial Buildings
  • Industrial Plants
  • Others
• By Geography

• North America

• • USA
  • Canada
  • Mexico

• South America

• • Brazil
  • Argentina
  • Others

• Europe

• • UK
  • Germany
  • France
  • Spain
  • Others

• Middle East and Africa

• • Saudi Arabia
  • UAE
  • Others

• Asia Pacific

• • China
  • Japan
  • India
  • South Korea
  • Australia
  • Other