Dublin, April 22, 2019 (GLOBE NEWSWIRE) -- The "Vacuum Interrupter Market by Application (Circuit Breaker, Contactor, Recloser, Load Break Switch, & Tap Changer), End User (Oil & Gas, Mining, Utilities & Transportation), Rated Voltage and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global vacuum interrupter market is projected to reach USD 3.6 billion by 2024 from an estimated USD 2.6 billion in 2019, at a CAGR of 6.49% during the forecast period.
This growth can be attributed to factors such as expansion in transmission & distribution networks, upgradation & modernization of aging infrastructure for safe & secure electrical distribution systems, and increasing rate of industrialization and urbanization. However, the risks associated with device malfunction and a lack of existing government policies specific to vacuum interrupters is hindering the growth of the vacuum interrupter market.
The vacuum interrupters are devices that are primarily used to cut out the current arc used to prevent accidents and electrical equipment damages. The interruption in vacuum circuit breakers, reclosers, contactors, load break switches, and tap changers is done by the vacuum interrupters. The entire vacuum interruption process results in the prevention of local heating, thus creating corruption and interruption. Increasing investments in smart grid, replacement of old interruption devices at substations, demand for uninterrupted power supply from utilities, and increasing use of renewable energy sources are expected to act as opportunities for the vacuum interrupter market.
They are majorly used by oil & gas, utilities, and transportation end-user segments that need an uninterrupted and reliable power supply for their operations. An uninterrupted and reliable power supply is important for the smooth functioning of these end use sectors. The increased focus on upgradation and modernization of aging power infrastructure, expansion of transmission & distribution networks, and increasing rate of industrialization and urbanization are expected to drive the demand for vacuum interrupter during the forecast period.
The need for increasing investment in smart grid and power distribution in developing regions, demand for uninterrupted power supply from the utilities, and increase in the use of renewable energy are likely to create an opportunity for the companies to accelerate the vacuum interrupter market. The risks associated with device malfunction and lack of existing government policies specific to vacuum interrupters are expected to act as restraints for the growth of the vacuum interrupter market.
The major players in the vacuum interrupter market are ABB (Switzerland), Eaton (Republic of Ireland), Crompton Greaves (India), Toshiba Corporation (Japan), and Siemens AG (Germany).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Upgrade & Modernization of Aging Infrastructure for Safe & Secure Electrical Distribution Systems
5.2.1.2 Expansion of Transmission & Distribution Networks
5.2.1.3 Increasing Rate of Industrialization & Urbanization
5.2.2 Restraints
5.2.2.1 Risks Associated With Device Malfunction
5.2.2.2 Lack of Existing Government Policies Specific to Vacuum Interrupters
5.2.3 Opportunities
5.2.3.1 Increasing Investments in Smart Grid & Power Distribution in Developing Regions
5.2.3.2 Demand for Uninterrupted Power Supply From Utilities
5.2.3.3 Increase in the Use of Renewable Energy
5.2.4 Challenges
5.2.4.1 Availability of Cheap & Inferior Quality Products
5.2.4.2 Availability of Various Alternative Technologies in the Segment
6 Vacuum Interrupter Market, By End-User
6.1 Introduction
6.2 Utilities
6.2.1 Asia Pacific is Expected to Hold the Largest Market Share By 2024
6.3 Oil & Gas
6.3.1 Aging of Offshore Infrastructure, Leading to Replacement and Decommissions, is an Opportunity for This Market
6.4 Mining Sector
6.4.1 China is Expected to Dominate the Global Coal Mining Industry During the Forecast Period
6.5 Transportation Sector
6.5.1 Emergence of Rapid Transport Systems in the Locomotive Industry is Expected to Drive the Vacuum Interrupter Market
6.6 Others
6.6.1 Rapid Urbanization and Industrialization are Fueling the Growth of This Sector
7 Vacuum Interrupter Market, By Application
7.1 Introduction
7.2 Circuit Breaker
7.2.1 Growing Concern for Safety in Electrical, Electronic, Telecommunication, and Automotive Equipment is Expected to Drive the Market
7.3 Load Break Switch
7.3.1 Load Break Switch is Expected to Find the Maximum Usage in the Oil & Gas and Mining Sector
7.4 Recloser
7.4.1 Automation System and Smart Grid Projects are the Major Drivers of the Recloser Market
7.5 Contactor
7.5.1 Growth in AC and HVAC Systems is Expected to Boost the Vacuum Interrupter Market
7.6 Tap Changer
7.6.1 Rise in Electrification Projects is Expected to Drive the Vacuum Interrupter Market
7.7 Others
7.7.1 Increasing Installation of Vacuum Interrupters in Dc Applications and Traction Systems
8 Vacuum Interrupter Market, By Rated Voltage
8.1 Introduction
8.2 0-15 kV
8.2.1 Increasing Investments in the Utilities and Oil & Gas Segment are Expected to Drive the Market During the Forecast Period
8.3 15-30 kV
8.3.1 Increasing Investments in Railways, Renewable Energy is Driving This Segment
8.4 Above 30 kV
8.4.1 Growth of Heavy Industries is Expected to Drive the Market During the Forecast Period
9 Vacuum Interrupter Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players
10.3 Competitive Landscape Mapping, 2018
10.4 Competitive Scenario
11 Company Profile
11.1 ABB
11.2 Eaton
11.3 Siemens AG
11.4 Crompton Greaves Limited
11.5 LS Industrial Systems
11.6 Shaanxi Baoguang Vacuum Electric Device Co. Ltd.
11.7 Meidensha Corporation
11.8 Mitsubishi Electric Corporation
11.9 Toshiba Corporation
11.10 Actom
11.11 Wuhan Feite Electric Co., Ltd.
11.12 Chengdu Xuguang Electronics Co., Ltd.
11.13 Shaanzi Joyelectric International Co., Ltd.
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