Market Size of Generator Circuit Breaker Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Generator Circuit Breaker Market Analysis
The generator circuit breaker market is expected to grow at a CAGR of more than 3% over the period of 2020-2025. Generator circuit breakers are a key component of power generation plants in order to improve the reliability and protection of power unit equipment such as generators and step-up transformers. Factors such as an increase in power consumption, rise of an influx of renewable sources in the energy mix, along with upgradation and modernization of aging infrastructure are expected to drive the market in the forecast period. On the other hand, environmental regulations regarding usage of SF6 is likely to restrain the growth of the generator circuit breaker market in the coming years.
- The gas-based power plants sector is expected to be the fastest-growing market during the forecast period, owing to factors like increasing shift of energy production from cleaner resources and a rise in investment in utility size gas-based power plants.
- Globally, the focus has increased on investments in clean energy projects and the development of cleaner energy resources. As a result, the extensive development of new clean energy projects, and rising electricity usage is likely to create an excellent opportunity for the generator circuit breaker market in the future.
- Asia-Pacific has dominated the generator circuit breaker market in 2019 and is expected to witness significant market growth in the forecast period, with the majority of the demand coming from China, Japan, and India.
