Vacuum Interrupter Market Size, Trends & Analysis - Forecasts to 2026 By Rated Voltage (0-15 kV, 15-30 kV, Above 30kV), By Application (Circuit Breaker, Contactor, Recloser, Load Break Switch, Tap Changer, and Others), By End-User (Utilities, Oil & Gas, Mining, Transportation, Others [Commercial Establishments: Social & Educational Institutions, Hospitals, Storage Facilities, Hotels, and Shopping Complexes]), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America).
Vacuum Interrupter Market Insights
The vacuum interrupter is an eco-friendly substitute of Sulphur hexafluoride and is used for repetitive switching, fault protection, motor inrush current interruption, overcurrent, and short circuit protection. The vacuum interrupters have also reduced the power wastage and have curbed the cost incurred by the end-users due to energy loss during the transmission.
The market growth is expected to trend upwards. The major factors driving the growth of this market include the rising industrialization & urbanization, expansion of transmission & distribution network, construction of new infrastructure with the modernization of old electric systems in buildings, the steady shift of the market from gas interrupters to gas-free interrupters to reduce the greenhouse gas effect and increasing investment in the power generation infrastructure and smart grid technologies.
Vacuum Interrupter Market: By Rated Voltage
Given the voltage, the market can be split into 15-30 kV, 0-15 kV, and above 30 kV. The 0-15 kV segment is observed to be the dominating domain in this market. The driver of this domination can be the extensive applications of electric interrupter switch of this voltage range in electricity distribution substations and industries such as oil & gas and mining.
Vacuum Interrupter Market: By Application
As per the study based on the application, the market can be sectioned into a circuit breaker, contactor, recloser, load break switch, tap changer, others. The circuit breaker segment is estimated to dominate the market due to increasing demand for electric power transmission, increasing investment in renewable energy projects, rising manufacturing industries, and infrastructural development in the developing countries.
Vacuum Interrupter Market: By End User
The end-user can be segmented into oil & gas, utilities, transportation, mining, and others. The utility domain would be growing rapidly in this market. The segment’s growth can be attributed to the rising demand for new electrical gadgets, the shift from an agrarian economy to the industrial and service sector economy and the limitless need for electricity and utility services
Vacuum Interrupter Market: By Region
Based on the region, the Asia Pacific region is estimated to be the dominating region in the market because of the ongoing development and urbanization. The growth of this region is also expected to stay strong due to the increasing investment in the power generation infrastructure, smart grid technologies as well as renewable energy generated in this region that would help the market innovations to happen in the forecast period [2021-2026].
Vacuum Interrupter Market Share and Competitor Analysis
Siemens AG, Eaton, Crompton Greaves Limited, ABB, Shaanxi Baoguang Vacuum Electric Device Company Limited, Meidensha Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, ACTOM, Wuhan Feite Electric Company Limited, Chengdu Zuguang Electronics Company Limited, Shaanxi Joyelectric International Company Limited, and LS Industrial System among others are the companies who account for a significant part of market demand.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2019, Eaton and Electric Power Research Institute partnered to provide new energy management and secure circuit breakers for the generation energy grid.
In September 2018, Siemens AG expanded its manufacturing unit in Australia to fulfill the growing global demand for Fusesaver.
In January 2018, ABB started a factory in Nashik India under the ‘Make in India’ initiative. The factory exports products such as gas-insulated switchgear, tank circuit breakers, and auto reclosers.
Check the Press Release on Vacuum Interrupter Market Report
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The Global Vacuum Interrupter Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Vacuum Interrupter Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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