Press release
Vacuum Circuit Breaker Market Value Share, Supply Demand, Share And Value Chain -2023
Market Scenario
The power industry is witnessing high growth owing to the increased demand for electricity, decentralization of power sector in many nations, along with rising demand for electrical infrastructure from commercial and industrial sectors. In power distribution sector, the demand for reliable and efficient infrastructure and equipment is required with increasing automation and reducing personnel cost. Circuit breakers are elementary devices used in distribution networks, which serve the function of breaking the current supply whenever there is a load imbalance in the line.
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Vacuum circuit breakers are a category of circuit breakers that are used in distribution and transmission networks for safety of the equipment and devices. Since the vacuum has high dielectric strength, it has the capability of handling the load imbalance situations without breaking down of circuit. The main functions performed by vacuum circuit breakers include short circuit protection, switching on-off in case of large load supply/ large power supply, and for outdoor applications ranging between 22kV to 66 kV. Vacuum circuit breakers are superior to conventional circuit breakers as they are suitable for both, indoor and outdoor applications along with eco-friendly, reliable, compact and long span instruments. They require less power than conventional circuit breakers and thus, are preferred over them.
Global Vacuum Circuit Breaker Market
Global Vacuum circuit breaker market is expected to witness phenomenal growth during the forecast period owing to increasing demand for power and electrical equipment, and existing circuit breakers becoming obsolete. Asia Pacific is dominating the market share in vacuum circuit breakers. Growing nations such as China, India, South Korea, and Japan are fastest growing nations in the region and demand more and more power per year. According to Department of Science and Technology of India, with rising electricity generation from unpredictable sources from renewable sources feeding the grid, the opportunities for smart grids are immense at distribution and transmission level. This is driving the market in the region. Europe region is likely to follow the market share by virtue of increasing renewable energy from the region and rising demand for connecting renewable energy efficiently to the smart grids. In 2017, Germany accounted for the largest wind power installed capacity in the Europe region.
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Key Players
The key players of global vacuum circuit breakers market are Schneider Electric SE (France), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Alstom SA (France), and Siemens AG (Germany). Toshiba (Japan), Larsen & Turbo (India), Hyundai heavy industries (South Korea), Hitachi (Japan), Fuji Electric (Japan), Nissin Electric (Japan), Xian XD (China), Hyosung (China), Bharat Heavy Electric Ltd. (India), Eaton (Ireland), and Meidensha (Japan) are among others.
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