Vacuum Interrupter Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Circuit Breaker, Load Breaker, Tap Charger, Recloser), By Rated Voltage (0-15 KV, 15-30 KV, Above 30 KV), By Distribution Channel (Oil & Gas, Mining, Utilities & Transportation), And By Geography - Forecasts From 2022 To 2027

Published:  Sep 2022 Report Code: KSI061612967 Pages: 120

The vacuum interrupter market is projected to grow at a CAGR of 5.03% to reach US$2,171.529 million by 2027, from US$1,539.802 million in 2020.

 A vacuum interrupter is essentially used in utility power transmission systems, power generation units, and power distribution systems across several industries, such as railways, and industrial plants. It is a vacuum-sealed-off device incorporated into a vacuum circuit breaker to cause interruption of fault currents.

A major reason for the growth of this market is the need for vacuum interrupters in the most demanding electrical circuit protection devices to mitigate the possibility of the loss that can be caused by electrical overloads.

They are also widely used in load break switches to connect and disconnect load currents to provide limited load switch capacity. As for the reclosers, they are used to automatically open or close circuits depending upon the overload or fault conditions. These benefits provided by vacuum interrupters are the biggest reason for the growth of this market.

Growing application in railway circuit breakers is expected to drive the demand for this market in the forecast period.

To increase connectivity, the number of railway projects is increasing all over the world, especially in Asian countries like India. Some of the examples of railway projects announced or started in 2019 are:

  • High Speed 2 Phase I (London-Birmingham/Lichfield) started in the year 2019 and is expected to finish by 2026.
  • Moscow-Kazan High-Speed Line, which is expected to be completed in 2024, will be Indonesia’s first mass rapid transit rail system.
  • Brisbane Cross River Rail in Australia will run from Dutton Park to the east of Bowen Hills starting in 2019 and will end by 2024.
  • Dongguan Line 3 in China is a 66.2 km long railway line that is being built between the east and west of Dongguan.

Because of the development of these projects, the demand for a circuit breaker is also anticipated to escalate.

The growth of the utility, oil & gas, construction, and transportation industries is anticipated to fuel the growth of this market.

The use of vacuum circuit breakers is also prevalent in industries such as oil and gas, construction, and transportation. As the number of projects undertaken in these sectors is expected to rise over the forecast period, the use of vacuum interrupters will also rise in tandem with these growing industries. Furthermore, the development of transmission and distribution networks is also fuelling the growth of this market. Apart from this, the reduction in energy wastage and cost during transmission can be avoided. The damage done to human lives and industrial places can be circumvented with this vacuum interrupter. This is the most important reason why people switch to circuit breakers.

The rising need for electricity and power plants with rapid industrialization is also projected to positively impact the sales of vacuum interrupters.

The demand for electricity is rising at an exponential rate due to industrialization and urbanization. According to World Bank, the electric power consumption was 2,732.12 kWh per capita in the year 2006, which has risen to 3,132.15 kWh in the year 2014 and is expected to follow the same trend in the upcoming years. This will boost the use of vacuum interrupters, which are used as protective devices to prevent short circuits. Applications of this technology are majorly found in medium voltage current, though they are also being used in high voltage applications.

Some of the macroeconomic factors are also expected to indirectly affect this market.

For instance, the population rise is increasing the demand for electricity and oil. There is a need for more infrastructure development to serve the growing population who does not want to settle for less. Another trend that is happening simultaneously is urbanization and the migration of people from low-income countries to developed countries in search of better opportunities for living. Rising incomes are supporting this transformation. As a result, the demand for vacuum interrupters is also projected to grow.

The eco-friendly nature of vacuum interrupters is also bolstering the demand for this market. The growing concern for environmental protection has shifted the market away from gas insulation interrupters and toward gas-free insulators.  Environment-friendly and easily recyclable technology of the vacuum interrupter helps in cost-cutting. The concerns over carbon emissions have led the manufacturers to seek such equipment and materials that are energy-efficient for use in circuit breakers.

However, the high cost coupled with the malfunctioning risk associated with this product is a restraining factor for this market. The high cost of a vacuum interrupter as compared to the available alternatives is expected to be a major roadblock in the growth of this market. Also, the device is also prone to suffering from malfunctions while working, which may also discourage people from employing them in their circuit breakers. Nevertheless, with technological improvements put in place, this restraint is also expected to fade away.

Additionally, lack of awareness and improper government policies are also anticipated to challenge the market players for this product. There is a lack of awareness about the availability of this product in the market, which might hamper its sales in the forecast period.

The Asia Pacific to hold notable market share

Geographically, the Asia Pacific region is expected to witness a high CAGR in the Vacuum Interrupter market due to rising incomes and electricity consumption by the people in this region, specifically in India and China, where a large proportion of the GDP comes from the manufacturing sector. The American region is also expected to hold a substantial share of this market owing to the high number of developmental projects undertaken by the government in this region. Construction and transportation projects are on a rising spree in this region.

Key Developments

  • December 2020: ABB Electrification’s unit in Ratingen, Germany announced it was reaching a historic milestone which is the production of its 7 millionth vacuum interrupter in 2020 because of their automated precision and efficiency, combined with materials, product, and process innovations, they could achieve it.
  • March 2019: Eaton Corporation, which manufactures vacuum interrupters, and Electric Power Research Institute collaboration delivered innovative energy management, efficient, as well as secure circuit breakers, an application of vacuum interrupters, which could resist any short circuits or overcurrent, for generating energy grids in March 2019.

Impact of the COVID-19 pandemic on Vacuum Interrupter Market

The COVID-19 pandemic had restricted the power industry in terms of expansion. This was largely due to countrywide lockdowns implemented to prevent the transmission of the virus. The renewable energy industry, which had been developing at a fast rate until recently, slowed down during the pandemic. This slowdown was mostly due to economic downturns, which led to lower power consumption from a variety of end-user industries, mostly due to temporary halts in commercial operations and the shutdown of industries. The electricity demand for the month of June and July 2020 was 10% and 5% below as compared to June and July 2019 as per January 2021 report by International Energy Organization. With lower demand for electricity, utilities made relatively small expenditures in updating outdated grid infrastructure and installing new renewables.

Vacuum Interrupter Market Scope:

Report Metric Details
 Market Size Value in 2020  US$1,539.802 million
 Market Size Value in 2027  US$2,171.529 million
 Growth Rate  CAGR of 5.03% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments Covered  Application, Rated Voltage, End-User, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered ABB, Siemens AG, Yueqing Liyond Electric Co., Ltd., Chengdu Xuguang Electronics Co., Ltd, Toshiba Infrastructure & Systems and Solutions Corporation, Wuhan Feite Electric Co., Ltd., Eaton, Meidensha Corporation, CG Power and Industrial Solutions Ltd, Mitsubishi Electric Corporation
 Customization Scope  Free report customization with purchase

 

Segmentation:

  • By Application
    • Circuit Breaker
    • Load Breaker
    • Tap Charger
    • Recloser
  • By Rated Voltage
    • 0-15 kV
    • 15-30 kV
    • Above 30 kV
  • By End-User
    • Oil & Gas
    • Mining
    • Utilities & Transportation
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Others
    • The Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the vacuum interrupter market size by 2027?
A1. The vacuum interrupter market is projected to reach a total market size of US$2,171.529 million by 2027. 


Q2. What are the growth prospects for the vacuum interrupter market?
A2. The global vacuum interrupter market is projected to grow at a CAGR of 5.03% over the forecast period. 


Q3. What is the size of the global vacuum interrupter market?
A3. Vacuum Interrupter Market was valued at US$1,539.802 million for the year 2020. 


Q4. Which region holds the largest market share in the vacuum interrupter market?
A4. Geographically, the Asia Pacific region holds a noteworthy share in the vacuum interrupter market due to rising incomes and electricity consumption by the people in this region, specifically in India and China. 


Q5. What factors are anticipated to drive the vacuum interrupter market growth?
A5. A major reason for the growth of this market is the need for vacuum interrupters in the most demanding electrical circuit protection devices to mitigate the possibility of the loss that can be caused by electrical overloads.

1. Introduction
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
 
2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Vacuum Interrupter Market Analysis, by Application
5.1. Introduction
5.2. Circuit Breaker
5.3. Load Breaker
5.4. Tap Charger
5.5. Recloser

6. Vacuum Interrupter Market Analysis, by Rated Voltage
6.1. Introduction
6.2. 0-15 kV
6.3. 15-30 kV
6.4. Above 30 kV

7. Vacuum Interrupter Market Analysis, by Distribution Channel
7.1. Oil & Gas
7.2. Mining
7.3. Utilities & Transportation

8. Vacuum Interrupter Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. UK
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.4.6. Others
8.5. The Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Israel
8.5.4. Others
8.6. Asia Pacific
8.6.1. Japan
8.6.2. China
8.6.3. India
8.6.4. South Korea
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Indonesia
8.6.8. Others

9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. Company Profiles
10.1. ABB
10.2. Siemens AG
10.3. Yueqing Liyond Electric Co., Ltd.
10.4. Chengdu Xuguang Electronics Co., Ltd
10.5. Toshiba Infrastructure & Systems and Solutions Corporation
10.6. Wuhan Feite Electric Co., Ltd.
10.7. Eaton
10.8. Meidensha Corporation
10.9. CG Power and Industrial Solutions Ltd
10.10. Mitsubishi Electric Corporation

ABB

Siemens AG

Yueqing Liyond Electric Co., Ltd.

Chengdu Xuguang Electronics Co., Ltd

Toshiba Infrastructure & Systems and Solutions Corporation

Wuhan Feite Electric Co., Ltd.

Eaton

Meidensha Corporation

CG Power and Industrial Solutions Ltd

Mitsubishi Electric Corporation

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