Vacuum Interrupters Market By Application (Circuit breakers, Contactors, Load Break Switches, Tap Changers, Reclosers, Others (generator breakers and railway breakers)) By End Use Industry (Utilities, Oil & Gas, Minin) and Region - Global Forecast to 2026
22 March 2018
The global vacuum interrupters market is estimated to value US$ 1.6 Bn in 2017 and is projected to register a CAGR of 6.2% in terms of value during the forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global vacuum interrupters market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report includes PEST analysis, Porter’s Five Forces analysis, and opportunity map analysis for in-depth understanding of the market. The report offers insightful and detailed information regarding the various key players operating in the global vacuum interrupters market, their financials, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global vacuum interrupters market is segmented on the basis of application, end-use industry, and region.
Vacuum interrupters are among the core components of medium-voltage switches, in which electrical contacts are sealed in a vacuum. Vacuum interrupters are installed in circuit breakers, switchgears, load break switches, load break switches, reclosers, contactors, tap changers, railway circuit breakers, etc. Vacuum interrupters are mostly used in utility power transmission systems, power distribution systems for railway, and industrial plants.
Global Vacuum Interrupters Market Dynamics:
Increasing demand for vacuum interrupters from end-use industries such as utilities, transportation, mining etc. especially in developing countries is major factor expected to drive growth of the global market over the forecast period. In addition, rising adoption of smart grid technology across the globe, in which vacuum interrupters are considered as an essential component used in switch disconnectors and reclosers in established smart grids is another factor expected to fuel growth of the target market.
However, high equipment cost and lack of awareness regarding the usage and working of vacuum interrupter are major factors expected to restrain growth of the global vacuum interrupters market over the forecast period.
The current trend in the target market is integration of renewable energy sources into power grids. This factor is expected to drive growth of the global market to a significant extent over the forecast period.
Analysis by Application:
Among all application segments, the circuit breakers application segment in the global vacuum interrupters market is expected to register a CAGR of over 6% over the forecast period, owing to factors such as longer life span, lower gas emissions, and lower maintenance cost, which are expected to drive revenue growth of the circuit breakers application segment.
The contactor application segment in the global vacuum interrupters market is estimated to account for revenue share of over 31% in 2017, owing to increasing power consumption and expanding power distribution networks across the globe are major factors expected to drive growth of the combiner application segment.
Load break switches application segment in the global vacuum interrupters market is estimated to account for revenue share of over 17%, owing to increasing government initiatives to promote renewable energy generation and to undertake renovation of old electrical infrastructure are expected to drive this segment over the forecast period.
Analysis by end-use industry:
Among all the end-use industry segments, the utilities segment is projected to register highest CAGR of over 6%, owing to increasing installation of power infrastructure across the globe.
Analysis by Region:
North America market accounted for major revenue share of over 25% in the global vacuum interrupters market in terms of revenue, and is expected to continue its dominance over the forecast period, owing to stringent government regulations prohibiting release of greenhouse gases into the atmosphere and increasing demand for vacuum interrupters in various end-use industries in countries in the region. The market in China is expected to register highest CAGR of over 6% in the global market in terms of revenue and is expected to continue its growth over the forecast period in the global vacuum interrupters market, owing to stringent government initiatives for expansion and modernization of electric transmission grids and distribution infrastructure coupled with increasing focus on renewable energy sources. Moreover, rapid industrialization coupled with growing energy demand from both the commercial and private sectors, are major factors expected to boost adoption of vacuum interrupters and in turn fuel growth of the China market over the forecast period. The market in Europe accounted for significant market share in terms of revenue over the forecast period in the global vacuum interrupters market, owing to increasing demand for energy, coupled with increasing focus on power generation using renewable energy resources, and initiatives by governments to modernize electrical grids and transmission networks in various countries in the region.
Major factor driving demand for vacuum interrupters, which in turn is boosting growth of the India market is increasing government initiatives for development and expansion of electric grid infrastructure in the country. For Instance, In October 2017, the Ministry of Railways announced, it’s plan to completely electrify the national rail network before 2021 (at an annual pace of 4,000 Km), at an estimated cost of approximately 35,000 crores (US$ 5.67 Bn). Moreover, growing power demand, rapid industrialization, and developments in the commercial sector are other factors expected to boost demand for vacuum interrupters and fuel growth of the India market over the forecast period
The market in Southeast Asia accounted for revenue share of over 8.0% in the global vacuum interrupters market in 2016, and was valued at over US$ 140 Mn. It is projected to reach nearly US$ 255 Mn in 2026, at a CAGR of over 5% between 2016 & 2026. Increasing number of domestic manufacturers and distributors of vacuum interrupters, coupled with prominent international players expanding their presence in countries in the region, are major factors driving growth of the Southeast Asia vacuum interrupters market.
In addition, increasing number of government initiatives for development of power transmission and distribution networks, coupled with increasing number of subsidies and tax cuts offered by governments in countries in the region for renewable energy projects, are other factors expected to drive demand for vacuum interrupters. This is further anticipated to boost growth of the Southeast Asia market over the forecast period.
Moreover, increasing focus on expansion of electric grids by governments in countries in the region, especially in Indonesia and Singapore for providing access to electricity in rural areas, is another factor expected to fuel growth of the Southeast Asia vacuum interrupters market.
Global Vacuum Interrupters Market segmentation:
Segmentation by application:
- Circuit breakers
- Load Break Switches
- Tap Changers
- Others (generator breakers and railway breakers)
Segmentation by end-use industry:
- Oil & Gas
- Others (wind turbines and data centers)
Segmentation by region:
- North America
- Southeast Asia
- ABB Ltd.
- Eaton Corporation Plc
- Meidensha Corporation
- Schneider Electric SE
- Siemens AG
- Alstom SA
- CoorsTek Inc.
- Toshiba Corporation
- Turner Electric
- Crompton Greaves Limited
- Mitsubishi Electric Corporation
- General Electric
- Tavrida Electric
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Application
- 2.2.2 Market Snapshot, By End Use Industry
- 2.2.3 Market Snapshot, By Region
- 2.2.4 Prudour Opportunity Map Analysis
Request for Customization
Don't just take our word. We are trusted by these great companies!