Vacuum Circuit Breaker Market Projected to Reach USD 7550 million, at a 6% CAGR by 2030

Oct 23, 2023

Vacuum Circuit Breaker Market Growth Boost by Increasing Technical Demand from Distribution Sector and Smart Grids

New York, US, March 20, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), "Vacuum Circuit Breaker Market Information by Type, End-Use, Voltage, and Region - Forecast till 2030", Throughout the projection period (from 2022 to 2030), the vacuum circuit breaker market can develop at a rate of 6%, touching USD 7550 million by 2030.

Vacuum Circuit Breaker Market Overview

Electricity is one of the most basic needs of humans. Together with stable and reliable electrical functioning, electrical infrastructure safety is crucial. Any harm to electrical infrastructure or human life caused by excess current or circuit failures will impede the operation of the electrical network. Circuit breakers are used in a circuit to prevent potential accidents. Vacuum circuit breakers (VCB) are an example of an environmentally beneficial device used in electrical networks.

The vacuum circuit breaker is divided into indoor and outdoor sections depending on the installation. Indoor VCB are employed in a variety of commercial structures and businesses. The vacuum circuit breaker market is divided into two segments based on capacity: medium voltage and high voltage.Vacuum Circuit Breaker Market Competitive Landscape:

The affluent companies in the vacuum circuit breaker industry include

Schneider Electric SE (France)

ABB Ltd. (Switzerland)

Mitsubishi Electric Corporation (Japan)

Alstom SA (France)

Siemens AG (Germany)

Toshiba (Japan)

Larsen & Turbo (India)

Hyundai heavy industries (South Korea)

Hitachi (Japan)

Fuji Electric (Japan)

Nissin Electric (Japan)

Xian XD (China)

Hyosung (China)

Bharat Heavy Electric Ltd. (India)

Eaton (Ireland)

Meidensha (Japan)

Get Free Sample PDF Brochure:https://www.marketresearchfuture.com/sample_request/3625 Because of their improved arc quenching, vacuum circuit breakers are recommended for medium voltage switchgear applications. The vacuum circuit breaker market is divided into three segments based on application: utility, commercial, and industrial. The VCB is widely used in the utility industry in substations and distribution centers.With the presence of both global and local firms, the global market is oligopolistic by definition. The majority of the players invest heavily in the research and development of a wide range of high-performance and high-quality goods that strengthen the structure and make it last for an extended period of time. Businesses are constructing manufacturing operations in other countries, notably in Asia, to capitalize on the rising development potential.

Market Report Scope:

Report Metrics

Details

Market Size by 2030

2030: USD 7,550.0 Million

CAGR during 2022-2030

6% CAGR

Base Year

2021

Forecast

2022-2030

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Key Market Opportunities

Gradual Recovery Of energy utilities, building & construction, chemicals & petrochemicals, foods & beverages, metal & mining

Key Market Drivers

Increasing demand for power Increasing technical demand from distribution sector Aging of conventional oil and air circuit breakers Rising demand for smart grids Transmission and distribution infrastructure

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Vacuum Circuit Breaker Market USP Covered:

Market Drivers:

Vacuum circuit breakers are a type of circuit breaker used in distribution and transmission networks to ensure the safety of equipment and devices. Because the vacuum has a high dielectric strength, it can handle load imbalance conditions without causing the circuit to fail. Vacuum circuit breakers' principal duties include short circuit protection, switching on/off in the event of a heavy load supply/big power supply, and outdoor applications ranging from 22kV to 66kV. Vacuum circuit breakers outperform traditional circuit breakers because they are appropriate for both indoor and outdoor applications, as well as being eco-friendly, reliable, small, and long-lasting. They use less power than traditional circuit breakers and are consequently recommended over them.

The power business is expanding rapidly as a result of increased demand for energy, decentralization of the power sector in many countries, and rising demand for electrical infrastructure from the commercial and industrial sectors. With rising automation and reduced staff costs, the electricity distribution business requires reliable and efficient infrastructure and equipment. Circuit breakers are basic devices used in distribution networks that break the current supply when there is a load imbalance in the line.

Market Restraints:

Rising raw material prices are the primary market limitation for the global vacuum circuit breaker. The market is being harmed by the delayed modernization of current electrical infrastructure. The availability of alternative technology has also had a negative impact on the market.

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Vacuum Circuit Breaker Market COVID 19 Analysis

COVID-19 has had a global impact on people's health. The aftermath has a massive social and economic impact on people all around the world. Individuals are going through a mental trauma as major governments implement new frameworks and industries embrace innovative kinds of expansion to stay relevant.

Increasing cases have increased emotional and financial problems around the world, particularly among the elderly. Furthermore, the younger generation is experiencing challenges as a result of job loss and is turning to family care to cope. The focus is mostly on COVID-19 treatment and vaccine research, diverting attention away from other markets. This has had an impact on the vacuum circuit breaker business.

Vacuum Circuit Breaker Market Segmentation

By Type

The market is further divided into two types: indoor vacuum circuit breaker and outdoor vacuum circuit breaker. Interior vacuum circuit breakers dominate the market due to their lower risk of dangers, explosion, and suitability for buildings with limited space.

By End-User

The market is divided into end-use categories such as energy utilities, building & construction, chemicals & petrochemicals, foods & drinks, metal & mining, and others. Energy utilities have the greatest market share since conventional oil and air circuit breakers are aged, are not eco-friendly, and take up a lot of space, and there is a growing demand for reliable electrical equipment.

By Voltage Rating

The vacuum circuit breaker market is divided into medium and high voltage segments. Middle voltage vacuum circuit breakers are the most important shareholders because they are more cost effective than high voltage vacuum circuit breakers.

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Vacuum Circuit Breaker Market Regional Insights

Asia Pacific is currently the leader in the vacuum circuit breaker market. Developing nations such as China, India, South Korea, and Japan are the region's fastest expanding economies, consuming an increasing amount of power each year. According to the Indian Department of Science and Technology, with increased electricity output from unpredictable renewable sources supplying the system, the prospects for smart grids at the distribution and transmission levels are enormous. This is fueling the regional market.

Europe follows APAC in terms of share in the worldwide market, on account of the expanding renewable energy in the region and the mounting demand for efficiently linking renewable energy to smart networks. Germany had the most wind power installed capacity in Europe in 2017.

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