Overview and Scope
Vacuum interrupter refers to the technology used for repetitive switching, motor inrush current interruption, fault protection, overcurrent protection, and short-circuit protection. The vacuum interrupter is a vacuum-tight envelope containing a pair of separable contacts.
Sizing and Forecast
The vacuum interrupter market size has grown strongly in recent years. It will grow from $2.67 billion in 2023 to $2.85 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to electrification and industrialization, growth in renewable energy projects, increasing demand for energy-efficient devices, modernization of power grids, growth in urbanization and infrastructure.
The vacuum interrupter market size is expected to see strong growth in the next few years. It will grow to $3.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing demand for smart grid solutions, demand for compact and lightweight components, electrification of transportation, investments in energy storage systems, increasing demand for medium voltage applications, evolving grid management solutions, development of next-generation electronics, focus on electromobility infrastructure.. Major trends in the forecast period include research and development in vacuum technology, eco-friendly insulation materials, advancements in material technology, smart grid communication integration, globalization of energy infrastructure, digitalization and iot integration, market expansion in developing regions..
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Segmentation & Regional Insights
The vacuum interrupter market covered in this report is segmented –
1) By Rated Voltage: 0–15 KV (Kilovolts), 15–30 KV (Kilovolts), Above 30 KV (Kilovolts)
2) By Contact Structure: Flat Contact, Spiral Contact, Axial Magnetic Or Field Contact
3) By Application: Circuit Breaker, Contactor, Recloser, Load Break Switch, Tap Changer, Other Applications
4) By End-User: Utilities, Oil And Gas, Mining, Transportation, Other End-Users
Asia-Pacific was the largest region in the vacuum interrupter market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the vacuum interrupter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing rate of urbanization and industrialization is expected to drive the growth of the vacuum interrupter market. Industrialization is the process of transforming any society into an industrial society, while urbanization is the process by which the rural population migrates to urban areas. The increasing urbanization and industrialization require a lot of electrical supply which in turn needs a huge supply of vacuum interrupters for the current interruption, fault protection, overcurrent, and short-circuit protection as well as repetitive switching needs. For instance, according to the data published in September 2021 by the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, globally, 4.46 billion people resided in urban areas in 2021. By 2050, this number will increase to 6.68 billion, with 2.22 billion more people living in urban areas. Therefore, the increasing rate of urbanization and industrialization will propel the growth of the vacuum interrupter market in the coming years.
Key Industry Players
Major companies operating in the vacuum interrupter market report are ABB Ltd., Eaton Corporation plc, Crompton Greaves Consumer Electricals Limited, Shaanxi Baoguang Vacuum Electric Device Co. Ltd., Meidensha Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, ACTOM (Pty) Ltd., Wuhan Feite Electric Company Limited, Chengdu Xuguang Electronics Co. Ltd., Siemens Aktiengesellschaft, LS ELECTRIC Corp., Shaanxi Joyelectric International Co. Ltd., General Electric Company, Kirloskar Electric Company Limited, Schneider Electric SE, Pennsylvania Breaker LLC, G&W Electric Company, Alstom SA, Maxwell Technologies LLC, Larsen & Toubro Limited, TE Connectivity Ltd., Shanxi Baoguang Vacuum Electric Device Co. Ltd., Zhejiang Xuhong Vacuum Electric Appliance Co. Ltd., Yuguang Group Co. Ltd., Zhenhua Shuangfei Electric Co. Ltd., Zhenhua Xinye Electric Co. Ltd.
The vacuum interrupter market report table of contents includes:
1. Executive Summary
2. Vacuum Interrupter Market Characteristics
3. Vacuum Interrupter Market Trends And Strategies
4. Vacuum Interrupter Market – Macro Economic Scenario
5. Global Vacuum Interrupter Market Size and Growth
…..
32. Global Vacuum Interrupter Market Competitive Benchmarking
33. Global Vacuum Interrupter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Vacuum Interrupter Market
35. Vacuum Interrupter Market Future Outlook and Potential Analysis
36. Appendix
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