The global vacuum circuit breaker market was valued at $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.
A vacuum circuit breaker is an electrical switching device that is used to interrupt or cut off the flow of electric current in a circuit. It employs a vacuum as the arc quenching medium to extinguish the electric arc that forms when the contacts of the breaker open during switching operations or in the event of a fault. Vacuum circuit breakers are widely used in power distribution systems, industrial facilities, commercial buildings, and renewable energy installations to ensure the safe and reliable operation of electrical systems by protecting against overcurrent, short circuits, and other electrical faults.
The vacuum circuit breakers market is anticipated to expand significantly during the forecast period owing to maintenance of free vacuum circuit breakers, grid modernization, Increase in adoption of grid-connected renewable energy sources, and surge in demand from the power sector for better and more reliable performance. In addition, during the forecast period, the vacuum circuit breakers market is anticipated to benefit from rise in infrastructural developments. On the other hand, growth in the vacuum circuit breakers market is expected to be restrained as the price of the raw materials is high, which makes it uneconomical to manufacture for voltages exceeding 38 kV, and possibility of overvoltage during switching.
The vacuum circuit breakers market is segmented on the basis of voltage, installation location, end-use industry, and region. On the basis of voltage, the market is bifurcated into medium and high. On the basis of installation location, the market is segregated into indoor and outdoor. On the basis of end-use industry, the market is divided into residential, commercial, industrial, and utilities. Region-wise, the vacuum circuit breakers market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific remain significant participants in the vacuum circuit breakers market.
The key players profiled in the report Include ABB Ltd, ARTECHE, Eaton, Fuji Electric, Huayi Electric Co., Ltd., Legrand, Mitsubishi Electric Corporation, Schneider Electric, Siemens, and Toshiba Energy Systems & Solutions Corporation. Market players have adopted various strategies such as product launch, product development, and acquisition to expand their foothold in the vacuum circuit breakers market.
A vacuum circuit breaker is an electrical switching device that is used to interrupt or cut off the flow of electric current in a circuit. It employs a vacuum as the arc quenching medium to extinguish the electric arc that forms when the contacts of the breaker open during switching operations or in the event of a fault. Vacuum circuit breakers are widely used in power distribution systems, industrial facilities, commercial buildings, and renewable energy installations to ensure the safe and reliable operation of electrical systems by protecting against overcurrent, short circuits, and other electrical faults.
The vacuum circuit breakers market is anticipated to expand significantly during the forecast period owing to maintenance of free vacuum circuit breakers, grid modernization, Increase in adoption of grid-connected renewable energy sources, and surge in demand from the power sector for better and more reliable performance. In addition, during the forecast period, the vacuum circuit breakers market is anticipated to benefit from rise in infrastructural developments. On the other hand, growth in the vacuum circuit breakers market is expected to be restrained as the price of the raw materials is high, which makes it uneconomical to manufacture for voltages exceeding 38 kV, and possibility of overvoltage during switching.
The vacuum circuit breakers market is segmented on the basis of voltage, installation location, end-use industry, and region. On the basis of voltage, the market is bifurcated into medium and high. On the basis of installation location, the market is segregated into indoor and outdoor. On the basis of end-use industry, the market is divided into residential, commercial, industrial, and utilities. Region-wise, the vacuum circuit breakers market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific remain significant participants in the vacuum circuit breakers market.
The key players profiled in the report Include ABB Ltd, ARTECHE, Eaton, Fuji Electric, Huayi Electric Co., Ltd., Legrand, Mitsubishi Electric Corporation, Schneider Electric, Siemens, and Toshiba Energy Systems & Solutions Corporation. Market players have adopted various strategies such as product launch, product development, and acquisition to expand their foothold in the vacuum circuit breakers market.
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.
- 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.
Key Market Segments
By Voltage
- Medium Voltage
- High Voltage
By Installation Location
- Indoor
- Outdoor
By 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
Key Market Players
- ABB
- ARTECHE
- Eaton
- Fuji Electric Co., Ltd.
- Huayi Electric Co., Ltd.
- Legrand
- Mitsubishi Electric Corporation
- Schneider Electric
- Siemens
- Toshiba Energy Systems & Solutions Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VACUUM CIRCUIT BREAKER MARKET, BY VOLTAGE
CHAPTER 5: VACUUM CIRCUIT BREAKER MARKET, BY INSTALLATION LOCATION
CHAPTER 6: VACUUM CIRCUIT BREAKER MARKET, BY END USE INDUSTRY
CHAPTER 7: VACUUM CIRCUIT BREAKER MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Vacuum Circuit Breaker Market,' The vacuum circuit breaker market was valued at $0.9 billion in 2022, and is estimated to reach $1.7 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.The vacuum circuit breaker market is likely to experience a significant growth rate of 5.8% from 2023-2032 owing to increasing demand for electricity, grid modernization initiatives, renewable energy integration, increasing industrialization and infrastructure development, and focus on electrical safety instruments..
A vacuum circuit breaker is an electrical switching device that is used to control and protect electrical circuits from overloads, short circuits, and other electrical faults. It is designed to interrupt the flow of current in a circuit by creating a vacuum environment within its arc extinguishing chamber. Unlike traditional circuit breakers that use various mediums like air, oil, or gas for arc extinction, a vacuum circuit breaker utilizes a sealed vacuum chamber. When a fault occurs, the contacts inside the breaker separate, causing an electric arc to form between them. The vacuum environment prevents the arc from being sustained, as it does not allow the ionized particles to regenerate the conducting path. This rapid arc extinction ensures effective interruption of the current flow, preventing damage to the electrical system.Vacuum circuit breakers are commonly used in medium to high voltage applications, such as power distribution networks, industrial plants, and commercial buildings. They offer several advantages, including high reliability, fast operation, low maintenance requirements, and environmental friendliness (as they do not contain hazardous substances like oil or gas). These features make vacuum circuit breakers a preferred choice for critical electrical protection and control purposes.
Key factors driving the growth of the vacuum circuit breaker market include increasing demand for electricity generation. As the demand for electricity continues to rise globally, there is a growing need for reliable and efficient power distribution systems. Vacuum circuit breakers offer high performance and improved operational reliability, making them an ideal choice for modern power grids. The rapid expansion of renewable energy sources, such as solar and wind power, has created a need for advanced circuit breakers capable of handling the unique characteristics of these energy systems. Vacuum circuit breakers are well-suited for renewable energy applications due to their ability to interrupt DC currents and withstand frequent switching operations. Many countries are facing the challenge of aging electrical infrastructure that requires upgrading and modernization. Vacuum circuit breakers are being increasingly deployed as replacements for outdated circuit breakers in existing power systems, leading to market growth. The rapid industrialization and infrastructure development in emerging economies are driving the demand for reliable electrical equipment. Vacuum circuit breakers find extensive application in industries such as manufacturing, mining, and oil and gas, where they provide critical protection for equipment and personnel.
The market also offers growth opportunities to the key players in the vacuum circuit breaker market. Key players in the vacuum circuit breaker market have opportunities to expand their presence in emerging markets, capitalize on the integration of renewable energy, participate in grid modernization initiatives, offer retrofit solutions, drive technological advancements, form strategic partnerships, and focus on sustainability. By seizing these opportunities, they can strengthen their market position and drive growth.
The vacuum circuit breakers market is segmented on the basis of voltage, installation location, end use industry and region. On the basis of voltage, the market is divided into medium and high. In 2022, the medium segment dominated the market, in terms of revenue, and it will acquire major market share till 2032. On the basis of installation location, the market is segregated into indoor and outdoor. The indoor segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032. On the basis of end use industry, the market is bifurcated into residential, commercial, industrial, and utilities. The utilities segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032.
- Region-wise, the vacuum circuit breakers market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific remain significant participants in the vacuum circuit breakers market.
Key Market Insights
The medium voltage segment was the highest revenue contributor to the market, with $532.93 million in 2022, and is estimated to reach $940.41 million by 2032, with a CAGR of 5.87%.The indoor segment was the highest revenue contributor to the market, with $549.23 million in 2022, and is estimated to reach $969.94 million by 2032, with a CAGR of 5.88%.
The utilities segment was the highest revenue contributor to the market, with $367.07 million in 2022, and is estimated to reach $629.75 million by 2032, with a CAGR of 5.58%.
Asia-Pacific was the highest revenue contributor, accounting for $329.34 million in 2022, and is estimated to reach $590.96 million by 2032, with a CAGR of 6.05%. North America is estimated to reach $437.01 million by 2032, at a significant CAGR of 5.6%.
Companies Mentioned
- ABB
- ARTECHE
- Eaton
- Fuji Electric Co., Ltd.
- Huayi Electric Co., Ltd.
- Legrand
- Mitsubishi Electric Corporation
- Schneider Electric
- Siemens
- Toshiba Energy Systems & Solutions Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 277 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 0.9 billion |
| Forecasted Market Value ( USD | $ 1.7 billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
