Global Vacuum Interrupter Market 2020-2025: Upgrade & Modernization of Aging Infrastructure for Safe & Secure Electrical Distribution Systems Driving Growth

Dublin, Dec. 14, 2020 (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 2025” report has been added to ResearchAndMarkets.com’s offering.The global vacuum interrupter market is projected to reach USD 3.1 billion by 2025 from an estimated USD 2.4 billion in 2020, at a CAGR of 5.1% during the forecast period.The circuit breaker segment is expected to be the fastest growing market from 2020 to 2025The circuit breaker segment, by application, is estimated to be the largest and fastest growing segment during the forecast period, as they are the major equipment utilized in the low and medium voltage segment. Most of the existing electrical infrastructure is expected to undergo a massive revamp in the near future.The utilities segment, by end-user, is expected to be the largest market from 2020 to 2025The utilities segment is expected to hold the largest market share and be the fastest growing segment during the forecast period because of the large scale replacement of aging infrastructure in this sector. This is supported by the fact that countries across the globe are shifting from an agrarian economy to industrial and service sector-based economy, becoming increasingly urbanized, which is eventually driving the market during the forecast period.Asia Pacific: The largest vacuum interrupter marketThe Asia Pacific region is projected to be the largest vacuum interrupters market by 2025. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hubs for vacuum interrupters. It is expected that this region will undergo rapid economic development and industrialization, which will further lead to an increase in power consumption.The global vacuum interrupter market is dominated by a few major players that have a wide regional presence. The leading players in the vacuum interrupter market are ABB (Switzerland), Eaton (US), Siemens AG (Germany), Shaanxi Baoguang Vacuum Electric Device Company Limited (China), and Meidensha Corporation (China).Upgrade & Modernization of Aging Infrastructure for Safe & Secure Electrical Distribution SystemsExpansion of Transmission & Distribution NetworksIncreasing Rate of Industrialization & UrbanizationRestraintsRisks Associated with Device MalfunctionLack of Existing Government Policies Specific to Vacuum InterruptersOpportunitiesIncreasing Investments in Smart Grid & Power Distribution in Developing RegionsDemand for Uninterrupted Power Supply from UtilitiesIncrease in the Use of Renewable EnergyChallengesAvailability of Cheap & Inferior Quality ProductsAvailability of Various Alternative Technologies in the SegmentImpact of COVID-19 on Renewable Energy SectorCompanies MentionedABBActomChengdu Xuguang Electronics Co., Ltd.Crompton Greaves LimitedEatonLS Industrial SystemsMeidensha CorporationMitsubishi Electric CorporationShaanxi Baoguang Vacuum Electric Device Co. Ltd.Shaanzi Joyelectric International Co., Ltd.Siemens AgToshiba CorporationWuhan Feite Electric Co., Ltd.For more information about this report visit https://www.researchandmarkets.com/r/xknm2xResearch and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
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