Vacuum Circuit Breakers Market Scenario
Vacuum circuit breakers play the elementary role in
the prevention of the unwanted current to pass during short circuit. The
increase in incidences of power cuts and imbalance in power supply are factors
that result in short circuit. This is expected to amplify the expansion of the
vacuum circuit breaker market. Vacuum circuit breakers are cheap and are
reliable solution for smart control for power supply in distribution systems.
These are identified as additional drivers for the vacuum circuit breaker
market. Rapid growth of industries and
urbanization are also expected to the unprecedented growth of the market. A
detailed analysis report of COVID-19
impact on Vacuum Circuit Breaker Market is provided with the report.
Increase in electricity consumption,
decentralization of power sector across different nations, and rise in need
better electrical infrastructure for industrial and commercial sectors are
expected to escalate the growth of the vacuum circuit breaker market. Increase
in the adoption of automation technologies and reduction in the personnel power
consumption cost are identified as additional boosters for market.
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Key Players:
·
Schneider
Electric SE (France),
·
Mitsubishi
Electric Corporation (Japan),
·
ABB Ltd.
(Switzerland),
·
Siemens AG
(Germany),
·
Alstom SA
(France),
·
Larsen &
Turbo (India),
·
Toshiba
(Japan),
·
Hyundai heavy
industries (South Korea),
·
Fuji Electric
(Japan),
·
Hitachi
(Japan),
·
Xian XD
(China),
·
Nissin Electric
(Japan),
·
Hyosung
(China),
·
Eaton
(Ireland),
·
Bharat Heavy
Electric Ltd. (India), and
·
Meidensha
(Japan)
Global Vacuum Circuit Breakers Market Segmental
Analysis
The global Vacuum Circuit Breakers Market is segmented by type,
end-user, and voltage rating.
By type, the market is segmented into outdoor vacuum
circuit breaker and indoor vacuum circuit breaker. The indoor vacuum circuit
breakers segment is likely to direct the course of vacuum circuit breaker
market’s progress. Indoor vacuum circuit
breakers provide advantages, such as lower risk of explosion and other hazards,
and they can be adjusted within less space. The market can capitalize on these
factors.
By end-use, the market is classified into building
& construction, energy utilities, chemicals & petrochemicals, metal
& mining, foods & beverages, and others. The energy utilities segment
to hold the largest portion of the market. The need to replace the existing oil
and air circuit breakers that aging, not eco-friendly, and need large space is
expected to rise the profit margin for the market.
By voltage rating, the market is segmented into high
and medium voltage. The medium voltage vacuum circuit breakers segment is
observed to be the prime investment scope for shareholders due to the
economically feasible offered by them over high voltage breakers.
Regional Analysis
The vacuum circuit breaker market is expected to
experience a healthy growth in the forecast years. The increase in demand for
improved power and electrical equipment and need to replace existing circuit
breakers are expected to boost the Asia Pacific market in the years to come.
Growing economies, such as South Korea, China, India, and Japan are facing high
demand power consumption per year. The Department of Science and Technology of
India reports that the as electricity generation from unpredictable sources
surge, the opportunities for smart grids to distribute and transmit power is
immense. This is noted to be driver for the APAC market. In Europe, the
increase in renewable energy and rise in need for effective connecting
renewable energy to smart grids are factors that are likely to upscale the
Europe vacuum circuit breaker market. Germany is expected to play a significant
role in the expansion of the Europe market.
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