Vacuum Interrupter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Vacuum Interrupter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Vacuum interrupter technology is used for repetitive switching, motor inrush current interruption, fault protection, overcurrent and short-circuit protection. The vacuum interrupter market is expected to grow at a CAGR of more than 4.3% during the forecast period 2021-2026. The major factors driving the growth of the vacuum interrupter market include the expansion of transmission & distribution networks and the increasing rate of industrialization & urbanization. The construction of new infrastructure as well as modernization of old electric systems in buildings has aided the demand for vacuum interrupters. Another driver for this market is the gradual shift of the interrupter market from gas insulation interrupters to gas-free insulators, due to regulations that inhibit the release of greenhouse gases into the atmosphere. This has prompted the end-user companies to replace the older versions with the new ones. Also the interrupters reduce the power wastage and curb the cost arising out of the energy loss during transmission. However, the cost of the equipment which becomes expensive at higher voltages, the risks associated with device malfunction are hindering the growth of the vacuum interrupter market.

• The circuit breaker segment is expected to hold the largest share in the market due to the growing demand for electric power transmission and increasing manufacturing industries, infrastructure development, and urbanization in developing countries.
• Increasing number of projects and investments in renewable energy, growing investment in transmission and distribution infrastructure in developing countries and the increasing rate of electrification in African countries are expected to act as an opportunity for the vacuum interrupter market in the near future.
• Asia-Pacific is expected to dominate the vacuum interrupter market during forecast period

• Vacuum circuit breakers are superior to conventional circuit breakers as they are suitable for both, indoor and outdoor applications along with eco-friendly, reliable, compact, and long-span instruments. They require less power than conventional circuit breakers, they have a lower risk of hazards, explosion, and are suitable for buildings with lesser space. Thus, the market is expected to have the largest share over the forecast period.
• The vacuum circuit breaker is recognized as the most reliable current interruption technology for medium voltage switchgear. It requires minimum maintenance compared to other circuit breaker technologies which tend to boost the market demand over the forecast period.
• Vacuum circuit breakers are a cost-effective and reliable solution for smart control of power and load supply in the distribution systems. They require minimum power for control and operations. The major factors that drive the market for vacuum circuit breakers are increasing demand for power, increasing technical demand from the distribution sector, ageing of conventional oil and air circuit breakers, and rising demand for smart grids, transmission and distribution infrastructure.
• Since there are losses while transmission of power from one region to another due to technical faults, the generated electricity is not able to meet the demand and there is always a shortage of power supply. This leads to rising demand for reliable technical demand from the distribution sector. Growing industrialization and urbanization from the developing countries has expanded the growth for the transmission and distribution infrastructure which leads to the growth for vacuum circuit breaker market.

• The Asia Pacific region is projected to be the largest vacuum interrupter market by 2025. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hub for vacuum interrupters. Over the past few years, this region has witnessed rapid economic development.
• The growth momentum in the largest economies in the Asia-Pacific is expected to remain quite strong, reflecting the policy stimulus in China and Japan, which, in turn, is benefiting other economies in Asia. The rapid increase in economic growth would lead to an increase in the demand for power. This would necessitate greater investments in the power generation infrastructure.
• Additionally, the rise in investments in smart grid technologies, which include distribution grid automation, smart meters, and demand response systems in countries such as Japan, South Korea, and Australia, would create growth opportunities for the vacuum interrupter market in the forecast period.
• Easy availability of raw material in countries such as India, Japan, China, etc. hold the measurable growth in the global market for the manufactures of vacuum interrupters across the globe.

The vacuum interrupter market is fragmented. Some of the major players in the market include Eaton Corporation PLC, Meidensha Corporation, ABB, Mitsubishi Electric Corporation, and Siemens AG.

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