Dublin, December 14, 2020 (Global News)-”The market for vacuum interrupters by application (circuit breakers, contactors, reclosers, load disconnect switches and tap changers), end users (oil and gas, mining , Utilities and Transportation), “Rated Voltage and Regions-Global Forecast to 2025″ report has been added to ResearchAndMarkets.com’s products.
By 2025, the global vacuum interrupter market is expected to grow from USD 2.4 billion in 2020 to USD 3.1 billion, with a compound annual growth rate of 5.1% during the forecast period. This growth can be attributed to the following factors: the expansion of transmission and distribution networks, the upgrading and modernization of the aging infrastructure of safe and reliable distribution systems, and the increase in the speed of industrialization and urbanization. However, the risks associated with equipment failure and the lack of existing government policies specifically targeting vacuum interrupters are hindering the growth of the vacuum interrupter market.
Depending on the application, the circuit breaker segment is expected to be the largest and fastest growing segment during the forecast period, as they are the main equipment used in the low and medium voltage segments. It is expected that in the near future, most of the existing electrical infrastructure will undergo large-scale transformation. For example, it is believed that the electricity distribution infrastructure in the United States came from the Second World War. In addition, incorporating unstable electricity into the central grid generated from renewable resources is a major problem in the Asia-Pacific region. To solve this problem, the infrastructure needs to be transformed. All of these will ensure that the number of circuit breaker installations will increase and ultimately boost the vacuum circuit breaker market during the forecast period.
Due to the large-scale replacement of aging infrastructure in the industry, the utility sector is expected to occupy the largest market share during the forecast period and become the fastest growing sector. This is supported by the fact that countries around the world are transforming from an agricultural economy to an industry- and service-based economy, with increasing urbanization, and ultimately driving the market during the forecast period.
It is estimated that by 2025, the Asia-Pacific region will become the largest vacuum interrupter market. Countries such as China, India, Japan and South Korea are considered to be the main manufacturing centers of vacuum interrupters. The region is expected to experience rapid economic development and industrialization, which will further lead to an increase in electricity consumption. It is expected that due to population growth, industrialization and expansion of distribution networks in developing countries, construction activities in the region will increase. In countries such as China, South Korea, Japan, and India, renewable energy is generating amazing speeds. This needs to be incorporated into the existing national grid, which leads to the introduction of more electrical infrastructure, which will ultimately promote the vacuum interrupter market.
The global vacuum interrupter market is dominated by several major players with extensive regional influence. The main players in the vacuum interrupter market are ABB (Switzerland), Eaton (USA), Siemens AG (Germany), Shaanxi Baoguang Vacuum Electrical Equipment Co., Ltd. (China) and Meidensha Corporation (China). COVID-19 Health Assessment Road to Recovery COVID-19 Economic Assessment Market Dynamics Drivers
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Post time: Dec-29-2020