Market Synopsis
As per the reports by Market Research Future Reports (MRFR), the Global Vacuum Interrupter Market is estimated to value USD 3.64 Billion by the end of 2025, expanding at a CAGR of 6.53% from 2019 and 2025. The vacuum interrupter is an interior part of high and medium-voltage circuit breakers that are utilized for quenching of the arc. It primarily lessens the power wastage and brings in control the cost appearing during the energy loss while transmission. The most important factors affecting the rise of the global vacuum interrupter market 2020 comprises the expansion of transmission distribution networks and the rising rate of industrialization urbanization. The Global Vacuum Interrupter Market is expected to witness high growth during the forecast period owing to the growing demand for enhancing the power distribution network in developing countries.
Several important players such as Siemens, ABB, and Eaton are paying attention to signing agreements and contracts with utilities and organizations to provide vacuum interrupter switches and vacuum circuit breakers. But due to the scarcity of government policies for vacuum interrupter testing is estimated to obstruct the growth of the vacuum interrupter market.
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Market Segmentation
The Global Vacuum Interrupter industry has been segregated on the basis of the contact structure, end-use industry, rated voltage, application, and region.
On the basis of the rated voltage, the global market is divided into 0–15 kV, 15–30 kV, and more than 30 kV. The 0–15 kV vertical is estimated to acquire the maximum share of the market and is estimated to be the fastest-expanding vertical during the review period. Due to electrical interrupter switch comprised in this voltage range has special applications in electricity distribution substations and industries, such as mining and oil gas.
On the basis of the contact structure, the global market is segregated into spiral contact, axial magnetic/field contact, and flat contact. The spiral contact vertical is estimated to procure the maximum market share and expand with the largest CAGR during the assessment period.
On the basis of application, the global vacuum interrupter market has been segregated into a load break switch, circuit breaker, contactor, tap changer, recloser, and others. The circuit breaker vertical is estimated to acquire the maximum share of the market owing to the increasing demand for electric power transmission and growing infrastructure development, manufacturing industries, and urbanization in emerging economies.
On the basis of the end-use industry, the global market is segregated into oil gas, utilities, transportation sector, mining sector, and others. The utility vertical is anticipated to acquire the maximum market share and be the fastest-expanding vertical during the review period owing to the need for the latest and innovative electrical gadgets and the rising demand for utility and electrical services.
Regional Segmentation
On the basis of region, the global vacuum interrupter market is segregated into North America, Asia-Pacific, the Middle East Africa, South America and Europe. The APAC region acquires the maximum share of the vacuum interrupter market due to the existence of various important vacuum interrupter producers and the robust expansion of the transmission and distribution vertical in the region.
The vacuum interrupter market in the North American market is reigned by the US because of the increasing urbanization along with the running electricity transmission and distribution projects.
The vacuum interrupter market in the European market is estimated to be led by Germany due to the alternatives and renovation of the old infrastructure in Germany.
Key Players
The major competitors functioning in the Global Vacuum Interrupter Market are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), General Electric (US), Mitsubishi Electric Corporation (Japan), LSIS Co. Ltd. (South Korea), Toshiba Corporation (Japan), Meidensha Corporation (Japan), Shaanxi Baoguang Vacuum Electric Device Co., Ltd. (China), Chengdu Xuguang Electronics Co., Ltd. (China), Wuhan Feite Electric Co., Ltd. (China), Crompton Greaves Limited (India), Kirloskar Electric Company (India) and Shaanxi Joyelectric International Co., Ltd. (China).
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