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 Share. 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 Market 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 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 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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