Vacuum Interrupters Market Size, Share Report, Analysis, Trends, Growth 2030

Industry Prospective:

The global vacuum interrupters market achieved revenue of USD 2.45 billion in 2021 and is projected to reach around USD 3.51 billion by 2028, the market is expected to grow with a compound annual growth rate (CAGR) of 5.3 percent during the forecast period. The report encompasses a detailed analysis of the vacuum interrupters market’s drivers, restraints, and challenges, along with their impact on the demands over the estimated period. Furthermore, the report also offers a detailed study of the potential opportunities that can boost market growth.

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Vacuum Interrupters Market: Overview

A vacuum interrupter is a switch that employs electrical contacts in a vacuum in electrical engineering. It is the key element in generator circuit breakers, medium-voltage circuit breakers, and high-voltage circuit breakers. When electrical contacts separate, a metal vapor arc forms, which is soon extinguished. In utility power transmission networks, power production units, and power-distribution systems for trains, industrial facilities, and arc furnace applications, vacuum interrupters are commonly utilized.

COVID-19 Impact:

The COVID-19 epidemic has hindered the power industry's expansion. This is mostly owing to statewide lockdowns enacted to prevent the transmission of the virus from spreading further. The renewable energy industry, which had been developing at a fast rate until recently, has been slowing down in recent months. This slowdown is mostly due to economic downturns, which have led to lower power consumption from a variety of end-user industries. With reducing electricity demand, utilities are likely to make moderately little expenditures in updating outdated grid infrastructure and installing new renewables.

Vacuum Interrupters Market: Growth Drivers

Rapid expansion of distribution and transmission can boost the market growth.

In the future years, transportation and other related industries are likely to see a massive increase in electrification. This would result in a massive rise in the energy demand and, as a result, its generation, necessitating a billion-dollar investment in transmission over the following decade. The electrical transmission and distribution industry might attract more than USD 600 bn in investment. The electric car category is likely to get the majority of this investment. In addition to this expenditure, the existing transmission infrastructure must be maintained and integrated with power generated from renewable sources to fulfill the current electrical demand. According to research, a trade organization lobbying for transmission investment, the amount of investment by 2030 is estimated to be similar to USD 4 to 7 bn per year, which is a 25 to 50 percent increase over the previous decade. All of this is likely to be driven largely by two primary factors: connecting more renewables to the grid and maintaining system reliability as peak load grows. All of these factors are likely to drive the growth of the global vacuum interpreters market.

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Vacuum Interrupters Market: Restraints

Dearth of explicit government policies for vacuum interrupters may hinder market growth.

According to the Kyoto Protocol, SF6 is one of the most potent greenhouse gases, having a global warming intensity of 23,000, and the Intergovernmental Panel on Climate Change has classified it as a highly hazardous greenhouse gas. Concurrently, SF6 is categorized as a greenhouse gas, which will be subject to green taxes. As a result, the Kyoto Protocol calls for an emissions reduction. Other gases with lesser global warming potential, such as nitrogen, dry air, and CO2, or their mixes, have far low dielectric strength than SF6. However, specific guidelines and government rules regarding the usage of vacuum interrupters are required. Industries that are prohibited from using these enumerated greenhouse gases are shifting to air-type equipment or other gas equipment, according to reports. The use of vacuum-type interruption devices is not decreasing as a result of this. As a result, the lack of vacuum interrupter-specific rules, norms, and reforms is a key stumbling block in this scenario.

Vacuum Interrupters Market: Opportunities

Cumulative investments and funding for smart grid & power distribution in the emerging nation will provide better growth prospects for the market.

Utility companies are increasing their investments in smart grid infrastructure throughout the world. By 2027, the European Union is expected to invest almost USD 133 billion in the smart grid sector. For example, Tavrida Electric secured a series of contracts for the delivery of 25 reclosers with PKP Energetyka. A two-year period of demonstrations and testing of the delivered equipment preceded the sale. As a consequence, approximately 50 reclosers were delivered to the latter by the end of 2017. Furthermore, Southeast Asian countries are projected to invest nearly 10 billion in smart grid infrastructure in the next 10 years, thereby driving growth avenues for the global vacuum interpreters market.

Vacuum Interrupters Market: Challenges.

Accessibility to low-quality and cheap products poses a major challenge to the market.

Asia Pacific region is the greatest market for vacuum interrupters, with several emerging countries planning to install a high number of vacuum interrupters in the near future. In these emerging countries, cost takes precedence over quality. The price of electrical items is given considerable attention in major nations such as Bhutan, Bangladesh, Sri Lanka, and India. Vacuum interrupters of good quality are projected to last for roughly 30 years. However, as the price of a product falls, so does the quality of the product. Local manufacturers face the same problems as multinational businesses in this region. These grey market firms have pricing competitiveness and a local supply network advantage over major competitors, which is tough for leading players to obtain.

Vacuum Interrupters Market: Segmentation

The global vacuum interrupters market is segregated based on rated voltage, application, end-user, and region. By rated voltage, the market is categorized into 0-15 kV, 15-30 kV, and above 30 kV. The application segment of the market is split into a circuit breaker, contactor, load break switch, tap changer, recloser, and others. The end-user segment is bifurcated as utilities, oil & gas, mining, transportation, and others.

Report Scope:

Recent Developments

• August 2021, Eaton Corporation had announced ambitions to launch HYPERRIDE, a ground-breaking cooperative research initiative focused on DC power grids. The firm will design circuit breakers for an automated and efficient DC power system as part of the USD 7.5 million project.
• In 2020, ABB Electrification's facility in Ratingen, Germany, celebrated a significant milestone when it produced its seven millionth vacuum interrupter (VI).

Vacuum Interrupters Market: Regional Landscape

Asia Pacific is to lead the market over the forecast period.

Asia Pacific is estimated to lead the global vacuum interrupter market. India, China, South Korea, and Japan are among the key nations regarded to be the primary vacuum interrupter production hubs. This region has experienced remarkable economic development in recent years. According to World Economic and Financial Surveys, the economic momentum in Asia Pacific's top economies is likely to stay robust, indicating policy stimulus in Japan and China, which benefits other Asian countries. The fast expansion of the economy would result in a rise in the demand for electricity. This would need a higher level of investment in electricity-producing infrastructure. Furthermore, increasing expenditure on smart grid technologies, such as smart meters, distribution grid automation, and demand response systems, in countries such as South Korea, Japan, and Australia, would provide development prospects for the market during the projection period.

Vacuum Interrupters Market: Competitive Landscape

Key players operating in the global vacuum interrupters market include ABB, Eaton, Crompton Greaves Limited, Siemens AG, LS Industrial System, Mitsubishi Electric Corporation, Shaanxi Baoguang Vacuum Electric Device Company Limited, Toshiba Corporation, Meidensha Corporation, ACTOM, Chengdu Zuguang Electronics Company Limited, Shaanxi Joyelectric International Company Limited, and Wuhan Feite Electric Company Limited.

Global vacuum interrupters market is segmented as follows:

By Rated Voltage

• 0–15 kV
• 15–30 kV
• Above 30 kV

By Application

• Circuit Breaker
• Contactor
• Recloser
• Load Break Switch
• Tap Changer
• Others

By End User

• Utilities
• Oil & Gas
• Mining
• Transportation
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa