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Vacuum Interrupters Market Overview
The Global Vacuum Interrupters Market size is
forecast to reach US$3.2 billion by 2027, growing at a CAGR of 5.3% from 2022
to 2027. This growth can be attributed to factors such as upgradation and
modernization of infrastructure for safe & secure electrical power
distribution systems, expansion of power transmission systems and increasing
rate of industrialization & urbanization. The demand for Vacuum Interrupters
is growing due to their widespread applications as they use electrical contacts which
are used in making generator circuit breakers, utility power transmission
systems, power distribution systems and electrical arc furnace applications.
Additionally, as an electrical arc furnace is contained within the interrupter,
switchgear-using vacuum interrupters are very compact in comparison to
switchgear-using sulfur hexachloride as electrical arc furnace suppression
medium due to higher dielectric strength and a higher rate of rising of recovery
voltage. Due to these factors and better applicability, the Vacuum Interrupters
Industry Outlook is positively changing.
Report Coverage
The report: “Vacuum Interrupters Industry Outlook – Forecast
(2022-2027)” by IndustryARC, covers an in-depth analysis of the following
segments in the Vacuum Interrupters industry.
Key Takeaways
- In the Vacuum Interrupters market report, the 0-15kv segment is predicted to grow at a significant rate during the forecast period 2022-2027. This growth is due to technological advancements, rapid usage of switchgear and its wide range of applications across various industry verticals.
- Based on the application in the Vacuum Interrupters Market, the Circuit Breaker is expected to grow at the highest rate during the forecast period. This growth is due to infrastructure developments, growing manufacturing industries and urbanization in developing countries.
- The APAC region had the largest share in the global Vacuum Interrupters Market size, owing to factors such as the presence of major manufacturers, rapid economic growth over the recent years and growing electricity demand in the region.
Vacuum Interrupters Market Value Share, by Region, 2021 (%)
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Vacuum
Interrupters Market Segment Analysis - By Rated Voltage
By Rated Voltage, the 0-15kV segment in the Vacuum
Interrupters Market report is estimated to grow with the highest CAGR of 6.3%
during the forecast period 2022-2027. This growth is primarily fuelled by the wide usage of
switchgear. The electrical interrupter switchgear in this voltage range has
extensive applications in power transmission systems, power distribution
systems in electricity distribution substations and industries such as oil
& gas and mining. In January 2020, ABB launched Vmax ANSI a medium voltage
circuit breaker that operated at around 15kV. This Circuit breaker is
excellent for electrical distribution applications due to its compact size and
greater flexibility. As a result, the growth of the 0-15kV medium voltage
segment boosts the global Vacuum Interrupters Market size.
Vacuum
Interrupters Market Segment Analysis - By Application
Based on Application, the Circuit Breakers in Vacuum Interrupters Market is expected to grow at the highest CAGR of 6.4% during the forecast
period 2022-2027. This growth is attributed to factors such as growing demand
for electric power transmission, increasing manufacturing industries,
infrastructure development and urbanization in developing countries. The rapid
expansion of electrification in remote areas has boosted the demand for
various electrical equipment which lead to the adoption of more circuit breakers. This has boosted the growth of the circuit breaker segment in the Vacuum Interrupters Market.
In September 2020, Siemens launched their new air circuit breaker 3WA which can
handle voltage fluctuations of up to 10 percent due to the presence of the
electrical contacts in the circuit. Such developments are set to boost the
Circuit Breaker segment and effectively strengthen the Vacuum Interrupter
Industry.
Vacuum Interrupters Market Segment Analysis - By Geography
APAC region dominated the global Vacuum Interrupters Market with a market share of 46% in 2021 and is also expected to have significant growth over the forecast period. This is due to factors such as the presence of major manufacturers, rise in economic development in recent years, surge in electricity demand and rapid growth of transmission & distribution sectors. The need for more power would rise due to economical expansion which would lead to more investments in infrastructure for electricity generation. As a result, the Vacuum Interrupters Market is also expected to grow as they use electrical contacts for making generator circuit breakers which are being installed in electrical distribution systems. In January 2020, Siemens acquired C&S Electric, an Indian Manufacturer, to cater to the region’s growing electricity demand. These kinds of partnerships would help the APAC region retain the largest market for Vacuum Interrupters Industry.
Vacuum Interrupters Market Drivers
Rising Expansion of Transmission and Distribution Networks:
Transportation
and other related industries are likely to see a massive increase in
electrification in the coming years. This would result in a massive increase in energy
demand, necessitating investments in the vacuum interrupters market over the
forecast period. In 2020, according to Brattle, the level of investment was
expected to be equivalent to US$3-7 billion per year by 2030, to meet the
existing electricity requirement. This growing need for electricity and
electricity generation would increase the adoption of Vacuum Interrupters and
thereby grow the Vacuum Interrupters Market size.
Increasing Modernization and Climate Control by reducing greenhouse gas emissions:
As the electricity demand is increasing across the world, the investment in the power generation sector is also rising. This increases maintenance activities in the power sector. As the existing infrastructure is aging, the modernization of these infrastructures is required for production efficiency. These activities require vacuum interrupters because they are getting more modernized due to technological advancements and they can be used in both maintenance and upgradation processes. Due to the rapid growth in the electricity generation sector, the emission of harmful greenhouse gases is also increasing. Governments are taking regulatory actions and supporting manufacturers to reduce greenhouse gas emissions. In 2022, The European Commission extended US$28.3 billion for the modernization fund to 7 countries to reduce greenhouse gas emissions by 2030. As a result, the demand for Vacuum Interrupters is increasing as the newest versions of them cause less gas emission.
Vacuum
Interrupters Market Challenge
The lack of existing government policies specific to Vacuum Interrupters may hinder the market growth:
According to
the Kyoto Protocol, SF6 is one of the most potent greenhouse gases, with a
global warming potential (GWP) of 23,000. The Intergovernmental Panel on
Climate Change has classified it as an extremely harmful greenhouse gas.
Simultaneously, SF6 has been designated as a greenhouse gas, for which taxes
would be levied. As there is a lack of regulations regarding Vacuum Interrupters,
some industries are shifting to air-type equipment or gas equipment. Therefore,
the use of vacuum interrupters is decreasing. These factors are major
impediments to the Vacuum Interrupters Market growth.
Vacuum Interrupters Industry Outlook
Product launches, collaborations and R&D activities are key strategies adopted by players in the Vacuum Interrupters Market. The top 10 companies in the Vacuum Interrupters market are:
- Eaton
- Siemens
- Mitsubishi Electric Corporation
- ABB Electrification
- Reliance Power
- Wuhan Feite Electric Co. Ltd.
- Toshiba Corporation
- LS Industrial System
- Crompton Greaves LTD.
- Meidensha Corporation
Recent Developments
- In August 2022, Siemens launched new 3VA UL Large frame molded case circuit breakers, allowing users to implement robust, safe and smart systems while simplifying the work process. These new developments are poised to change the Vacuum Interrupters Industry Outlook.
- In August 2021, Eaton Corporation announced the launch of HYPER RIDE, a ground-breaking collaborative research initiative focused on DC power grids. As part of the US$7.5 million project, the company would design circuit breakers for an automated and efficient DC power system. This is poised to increase Eaton’s market share in the Vacuum Interrupters Market size.
- In September 2020, Reliance Power, in a joint venture with JERA, announced that they were developing a 745MW liquefied natural gas power plant in Bangladesh that would provide electricity to more than 850,000 homes. In the turbine, the generator circuit breaker would connect the generator to a 400kV gas-insulated substation. As the generator circuit breaker is an integral part of the operation, more Vacuum Interrupters are being adopted to produce such circuits.
Relevant Report Titles:
Report
Code: ESR 0089
Report
Code: ESR 0061
Report
Code: EPR 0016
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