A vacuum interrupter (VI) is an electronic device that is primarily used to cut out the current arc to prevent the occurrence of accidents and equipment damage. VIs are installed in circuit breakers, switchgears, load break switches, and so on as a key component for interrupting and extinguishing electric current arc. The global vacuum interrupter market size is estimated to reach USD 2,052.6 Million by 2020 from USD 1,536.7 Million in 2015. The drivers for the market for vacuum interrupter are influenced by the trends in the process industries, manufacturing industries, aging and maturing power transmission & distribution network in the countries like U.S. and Canada.
The vacuum interrupter industry is fragmented and offers several opportunities for consolidation and growth in efficiency through an increase in economies of scale. The industry has low entry and exit barriers, which acts as a driver for the vacuum interrupter market. The VI market was dominated by ABB Ltd. (Switzerland), Siemens AG (Germany), Shaanxi Baoguang Vacuum Electric Device Co., Ltd. (China), LS Industries (South Korea), Toshiba (Japan), Wuhan Feite Electronic Co. Ltd. (China) and Eaton Corporation (Ireland).
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The report covers the various segments like:
On the basis of application: the vacuum interrupter market is classified into six segments: circuit breakers, contactors, reclosers, load break switches, tap changers and others. Others include the applications like DC applications & traction. The major applications of the VIs are in contactors and circuit breakers covering more than 60% of the market share.
On the basis of end-use: the vacuum interrupter market is majorly segmented into five sectors: utilities, oil & gas, mining, transportation & others. The other sector includes data centers and other commercial applications.
On the basis of region: the vacuum interrupter is segmented on the basis of its market presence in the following regions namely North America, South America, Europe, Asia-Pacific, the Middle East and Africa. These regions are further classified on the basis of top countries and their end user analyses have been made. Asia-Pacific held the largest market share owing to growth in industrialization and urbanization, followed by Europe and North America.
Browse 70 market data Tables and 44 Figures spread through 149 Pages and in-depth TOC on “Vacuum Interrupter Market – Global Trends & Forecasts to 2020”
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A vacuum interrupter (VI) is an electronic device that is primarily used to cut out the current arc to prevent the occurrence of accidents and equipment damage. VIs are installed in circuit breakers, switchgears, load break switches, and so on as a key component for interrupting and extinguishing electric current arc.
The global Vacuum Interrupter Market size is estimated to reach USD 2,052.6 Million by 2020 from USD 1,536.7 Million in 2015. The market is expected to grow at a CAGR of 6.0% during the forecast period. The main drivers propelling the growth are refurbishment of the aging and old power infrastructure in the countries like U.S. and Canada, growing environmental norms which gives vacuum interrupter a leading edge as compared to its alternatives like SF6, and oil.
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Utilities: Biggest market by end-users
Vacuum interrupters are mostly used in power plants, transmission, and distribution substations of power utility companies. With the growing transmission and distribution network across globe, the number of substations will keep on increasing. This increasing number of substations would further increase the use and demand of vacuum contactors, vacuum circuit breakers, load break switches, reclosers and tap changers where interrupters are installed.
In terms of growth strategies, market players have mainly been forming partnerships and grabbing contracts & agreements in order to expand as well as strengthen their market foothold. Contracts & agreements is the most commonly adopted strategy that is followed by new product launches, and mergers & acquisitions. This shows a mix of both organic and inorganic growth strategies.
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