According to a new report, published by KBV research, The Global Vacuum Circuit Breaker Market size is expected to reach $1.3 billion by 2030, rising at a market growth of 5.5% CAGR during the forecast period.
The High Voltage segment is showcasing a CAGR of 6% during (2023 - 2030). A high voltage type of vacuum circuit breaker is an instrument used to stop the flow of electrical current in a circuit. Usually, high-voltage applications like power plants & substations employ this kind of breaker. Vacuum circuit breakers of the high voltage variety are made to handle enormous current loads while safely and effectively interrupting the current flow.
The Utilities segment is leading the Global Vacuum Circuit Breaker Market by Industry in 2022 thereby, achieving a market value of $463.1 Million by 2030. This is because there is a greater need for energy in both developed and emerging countries, which has led to an increase in the use of circuit breakers in utility applications. In addition, the industry's growth in producing renewable energy is projected to be fueled by increased energy consumption paired with cleaner electricity generation. As a result, switching devices with a medium or high voltage are often employed in utility applications.
The Outdoor segment has shown the growth rate of 7% during (2023 - 2030). The need for outdoor circuit breakers is rising as infrastructure enhancements are made in countries with rapid urbanization rates. A rise in the demand for outdoor circuit breakers from industrial & utility usage for safeguarding electrical equipment and circuits would be the primary factor in the segment's growth. Also, the rising infrastructure developments, including the building & construction of power infrastructures like transmission, generation, and distribution, as well as the explosive growth of the renewable energy industry, is propelling the segment’s growth.
The Asia Pacific market dominated the Global Vacuum Circuit Breaker Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $479.7 Million by 2030. The Europe market is exhibiting a CAGR of 5.1% during (2023 - 2030). Additionally, The North America market would showcase a CAGR of 4.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/vacuum-circuit-breaker-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Ltd, Eaton Corporation PLC, Fuji Electric Co., Ltd., Legrand Group, Schneider Electric SE, Mitsubishi Electric Corporation, Siemens AG, General Electric Company, Toshiba Corporation (Toshiba Energy Systems & Solutions Corporation) and Arteche Lantegi Elkartea, S.A.
By Voltage
By Industry
By Installation Location
By Geography
Companies Profiled
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