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Vacuum Circuit Breaker Market Expected to Reach $1.7 Billion by 2032—Allied Market Research

 
2022
Vacuum Circuit Breaker Market

Report Code : A42917

quote The vacuum circuit breakers market is expected to continue growing in the coming years, owing to increasing demand for electricity, grid modernization initiatives, renewable energy integration, increasing industrialization and infrastructure development, focus on electrical safety, and others during the forecast period. quote

Tanuj Virendra Barai - Lead Analyst
Semiconductor and Electronics at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Vacuum Circuit Breaker Market," The vacuum circuit breaker market was valued at $0.9 billion in 2022, and is estimated to reach $1.7 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.

A vacuum circuit breaker (VCB) is an electrical switching device designed to interrupt the flow of electric current in a circuit. It uses a vacuum as the arc quenching medium to extinguish the electrical arc that forms when the contacts of the breaker open during switching operations or in the event of a fault.

The main components of a vacuum circuit breaker include a vacuum interrupter, operating mechanism, insulation system, and control panel. The vacuum interrupter consists of two contacts, a fixed contact and a moving contact, housed within a vacuum-sealed chamber. When the contacts are closed, current flows through them. During switching or fault conditions, the contacts separate, creating an arc. The vacuum interrupter then extinguishes the arc, enabling the interruption of current flow.

Vacuum circuit breakers are widely used in power distribution systems, industrial facilities, commercial buildings, renewable energy installations, infrastructure projects, research facilities, and various other applications. They offer efficient and reliable interruption of current, ensuring the safety, protection, and reliable operation of electrical systems in a wide range of industries and settings.

The vacuum circuit breaker market size is segmented on the basis of voltage, installation location, end use industry and region. On the basis of voltage, the vacuum circuit breaker market share is divided into medium and high. In 2022, the medium segment dominated the market, in terms of revenue, and it will acquire major market share till 2032. The surge in global demand for electricity, driven by population growth, industrialization, and urbanization, is a major driver for medium voltage vacuum circuit breaker market growth. These breakers are essential for safe and reliable power distribution in medium voltage networks. In addition, the need to modernize aging electrical infrastructure and integrate smart grid technologies drives the demand for medium voltage vacuum circuit breaker market trends. These breakers enable enhanced control, monitoring, and automation capabilities, improving the overall efficiency and reliability of power distribution networks.

On the basis of installation location, the market is segregated into indoor and outdoor. The indoor segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032. Retrofitting and modernizing existing buildings and infrastructure with advanced electrical systems offer opportunities for indoor vacuum circuit breakers. Upgrading outdated electrical systems with more efficient and technologically advanced circuit breakers can enhance safety, reliability, and energy efficiency. In addition, the rise in focus on green buildings and sustainability initiatives present opportunities for indoor vacuum circuit breakers. These circuit breakers contribute to energy efficiency, reduced carbon footprint, and compliance with sustainable building standards and certifications.

On the basis of end use industry, the vacuum circuit breaker market analysis is bifurcated into residential, commercial, industrial, and utilities. The utilities segment acquired the largest share in 2022 and is expected to grow at a significant CAGR from 2023 to 2032.The market for vacuum circuit breakers in the utilities end-use industry is expected to be driven by factors such as rise in demand for grid modernization, growth of renewable energy sources, and surge in demand for smart grid solutions, high voltage vacuum circuit breaker, and outdoor vacuum circuit breaker. The adoption of renewable energy sources, such as wind and solar power, has increased in the utilities industry, and vacuum circuit breakers are being designed to integrate with these systems to provide optimal safety and performance. In addition, smart grid solutions, which include the use of sensors, monitoring devices, and other advanced technologies, have gained popularity in the utilities industry, and vacuum circuit breakers can be integrated with these systems to provide advanced monitoring and control capabilities.

Region-wise, the vacuum circuit breakers market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific remain significant participants in the vacuum circuit breakers market. The region has witnessed a surge in the demand and consumption of electricity along with grid modernization and increase in adoption of grid connected renewable energy sources. Such activities are likely to present significant opportunities to the major market players during the forecast period.

For instance, in May 2020, ABB completed a six month long project to help Shanghai Waigaoqiao Free Trade Zone create an intelligent industrial park. In the project, ABB improved the electrical stability and digitalized its power management by installing medium-voltage circuit breakers along with other equipment. The region is anticipated to witness an increasing electrification, and medium-voltage vacuum circuit breakers which are finding applications in the distribution end of the electricity grid. Owing to increase in electrification, the medium-voltage vacuum circuit breaker segment in Asia-Pacific is anticipated to grow during the forecast period

KEY FINDINGS OF THE STUDY

  • Vacuum circuit breakers are highly reliable and durable, and they can withstand millions of fluctuations without failing. This makes them an ideal choice for applications where reliability is critical.
  • Asia-Pacific is expected to be the fastest-growing market for vacuum circuit breakers, driven by the increasing demand for renewable energy projects specially solar projects in countries such as China, India, and Japan.
  • The vacuum circuit breaker industry is highly competitive, with several major players operating globally. To remain competitive, companies are focusing on product innovation, strategic partnerships, and expanding their distribution networks.

The key players profiled in the report include ABB Ltd, ARTECHE, Eaton, Fuji Electric, Huayi Electric Co., Ltd., Legrand, Mitsubishi Electric Corporation, Schneider Electric, Siemens, and Toshiba Energy Systems & Solutions Corporation. Market players have adopted various strategies such as product launch, product development, and acquisition to expand their foothold in the vacuum circuit breakers Market.

 

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quote Vacuum Circuit Breaker Market by Voltage (Medium Voltage, High Voltage), by Installation Location (Indoor, Outdoor), by End Use Industry (Residential, Commercial, Industrial, Utilities): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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