Global Vacuum Circuit Breaker Market Analysis
The Global Vacuum Circuit Breaker Market is predicted to grow at a 6% CAGR over the forecast period (2018-2023), reveals the new Market Research Future (MRFR) report. Today, the vacuum circuit breaker is regarded as a highly reliable current interruption technology, especially for medium voltage switchgear. It is compactly designed for high reliability, safe operation, and easy maintenance. The vacuum circuit breaker is widely used in porcelain housed circuit breakers and metal clad switchgear. It uses a vacuum to extinct the arc. Long life, no explosion, no fire hazard, fast operation, minimal maintenance, and noiseless operation are some of its alluring features.
Various factors are driving the growth of the vacuum circuit breaker market. These factors, in accordance with the Market Research Future (MRFR) report, include growing demand for power, increasing need for transmission and distribution infrastructure and smart grids, aging of conventional air and oil circuit breakers, growing technical demand from distribution sector, and growing urbanization and industrialization.
On the contrary, high infrastructure cost may deter the vacuum circuit breaker market growth over the forecast period.
Vacuum Circuit Breaker Industry Segmentation
The Market Research Future report offers a wide segmental analysis of the vacuum circuit breaker market based on voltage rating, end user, and type.
Based on type, the vacuum circuit breaker market is segmented into outdoor vacuum circuit breaker and indoor vacuum circuit breaker. Of these, the indoor vacuum circuit breaker segment will have the largest share over the forecast period. This is owing to the fact that they have lower risks of hazards and explosion as well as is ideal for buildings having lesser space.
Based on end use, the global vacuum circuit breaker market is segmented into metal and mining, foods and beverages, chemicals and petrochemicals, building and construction, energy utilities, and others. Of these, the energy utilities segment will dominate the market over the forecast period. This is on account of the fact that the present oil and air circuit breakers are not eco-friendly and also aging, and also need large space. Moreover, there is a growing need for reliable electrical equipment.
Based on voltage rating, the vacuum circuit breaker market is segmented into medium and high voltage. Of these, the medium voltage vacuum circuit breaker segment will have the maximum share in the market over the forecast period. This is on account of the fact that these are economically feasible compared to high voltage vacuum circuit breakers.
Regional Analysis
Based on the region, the global vacuum circuit breaker market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Middle East and Africa (MEA). Of these, Asia Pacific will dominate the market over the forecast period. Japan, South Korea, India, and China are the key contributors here as they demand more power every year.
The vacuum circuit breaker market in Europe is predicted to have a healthy growth over the forecast period. This is owing to growing renewable energy from the region. Germany is the key contributor here.
The vacuum circuit breaker market in North America is predicted to have a notable growth over the forecast period. This is owing to the increased implementation of smart grids and increased electrical consumption. The upcoming huge number of smart projects as well as initiatives are predicted to supplement the need for vacuum circuit breakers over the forecast period.
Key Players
Leading players profiled in the vacuum circuit breaker market report include Meidensha (Japan), Eaton (Ireland), Bharat Heavy Electric Ltd. (India), Hyosung (China), Xian XD (China), Nissin Electric (Japan), Fuji Electric (Japan), Hitachi (Japan), Hyundai Heavy Industries (South Korea), Larsen & Turbo (India), Toshiba (Japan), Siemens AG (Germany), Alstom SA (France), Mitsubishi Electric Corporation (Japan), ABB Ltd. (Switzerland), and Schneider Electric SE (France).
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