Global Air Circuit Breakers Market to Reach $5.9 Billion by 2030
The global market for Air Circuit Breakers estimated at US$3.9 Billion in the year 2023, is expected to reach US$5.9 Billion by 2030, growing at a CAGR of 6.2% over the period 2023-2030. Low Voltage Air Circuit Breakers, one of the segments analyzed in the report, is expected to record 6.6% CAGR and reach US$3.8 Billion by the end of the analysis period. Growth in the Medium Voltage Air Circuit Breakers segment is estimated at 5.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 9.5% CAGR
The Air Circuit Breakers market in the U.S. is estimated at US$1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook