Vacuum Circuit Breaker Market to Reach $1.7 Billion, Globally, by 2032 at 5.8% CAGR: Allied Market Research

Oct 17, 2023

The vacuum circuit breaker market is driven by factors such as maintenance free vacuum circuit breakers, grid modernization, increasing adoption of grid-connected renewable energy sources, and surge in demand from the power sector for better and more reliable performance across the globe.

PORTLAND, Ore., May 25, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Vacuum Circuit Breaker Market, By Voltage (Medium, and High), Installation Location (Indoor, and Outdoor), and End Use Industry (Residential, Commercial, Industrial, and Utilities): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global vacuum circuit breaker industry generated $0.9 billion in 2022, and is projected to reach $1.7 billion by 2032, registering a CAGR of 5.8% from 2023 to 2032.

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Prime determinants of growth

The vacuum circuit breaker market is driven by factors such as maintenance free vacuum circuit breakers, grid modernization, increasing adoption of grid-connected renewable energy sources, and surge in demand from the power sector for better and more reliable performance across the globe. However, the possibility of overvoltage during switching restrain the market growth. On the contrary, infrastructural developments is expected to offer renumerative opportunities for the expansion of the vacuum circuit breaker market during the forecast period.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2021

$0.9 billion

Market Size in 2031

$1.7 billion

CAGR

5.8 %

No. of Pages in Report

277

Segments covered

Voltage, Installation Location, End Use Industry and Region.

Drivers

Maintenance free vacuum circuit breakers.

Grid modernization and increasing adoption of grid-connected renewable energy sources.

Surge in demand from the power sector for better and more reliable performance.

Opportunities

Rise in infrastructural developments.

Restraints

The vacuum circuit breakers are uneconomical at voltages exceeding 38 kV.

Possibility of overvoltage during switching.

Covid-19 Scenario

The pandemic presented both challenges and opportunities for the vacuum circuit breakers market. The pandemic highlighted the importance of resilient power infrastructure to support essential services and remote working.

Governments and industries recognized the need to invest in reliable electrical systems, including VCBs, to ensure uninterrupted power supply. This increased focus on resilient infrastructure presents opportunities for the VCB market.

The medium voltage segment to maintain its leadership status throughout the forecast period.

Based on voltage, the medium voltage segment held the highest market share in 2022, accounting for nearly three-fifths of the global vacuum circuit breaker market revenue, and is estimated to maintain its leadership status throughout the forecast period. As it is known for its small size & flexibility, and it is widely used in HVACs, and industries, where high current flow is required. Moreover, the medium voltage segment is projected to manifest the highest CAGR of 5.87% from 2023 to 2032, owing to an increase in construction of smart building in residential and commercial end user industry.

The indoor segment to maintain its leadership status throughout the forecast period.

Based on installation location, the indoor segment held the highest market share in 2022, accounting for nearly three-fifths of the global vacuum circuit breaker market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the same segment is projected to manifest the highest CAGR of 5.88% from 2023 to 2032. As more renewable energy sources such as solar and wind power are integrated into the electrical grid, there can be a greater need for reliable and efficient protection devices to ensure the safety and stability of the electrical system.

The utilities segment to maintain its leadership status throughout the forecast period.

Based on end use industry, the utilities segment held the highest market share in 2022, accounting for nearly two-fifths of the global vacuum circuit breaker market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the residential segment is projected to manifest the highest CAGR of 6.24% from 2023 to 2032, owing to an increase in demand for smart and energy-efficient homes, and the need for better electrical safety measures.

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Asia-Pacific to maintain its dominance by 2032.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global vacuum circuit breaker market revenue. This region is expected to witness the fastest CAGR of 6.05% from 2023 to 2032. This is due to a significant rise in investment by prime players due to surge in investment in renewable energy resources for rural and urban electrification in the region.

Leading Market Players:

Abb Ltd

ARTECHE

Eaton

Fuji Electric

Huayi Electric Co., Ltd.

Legrand

Mitsubishi Electric Corporation

Schneider Electric

Siemens

Toshiba Energy Systems & Solutions Corporation

The report provides a detailed analysis of these key players of the global vacuum circuit breaker market. These players have adopted different strategies such as joint venture, expansion, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vacuum circuit breaker market analysis from 2022 to 2032 to identify the prevailing vacuum circuit breaker market opportunities for high voltage vacuum circuit breaker and outdoor vacuum circuit breaker.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the vacuum circuit breaker market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global vacuum circuit breaker market trends, key players, market segments, application areas, and market growth strategies.

Vacuum Circuit Breaker Market Key Segments:

Voltage

Medium Voltage

High Voltage

Installation Location

Indoor

Outdoor

End Use Industry

Residential

Commercial

Industrial

Utilities

By Region

North America (U.S., Canada, Mexico)

Europe (UK, Germany, France, Spain, Italy, Rest of Europe)

Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)

LAMEA (Latin America, Middle East, Africa)

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