Apr 17, 2019   SOURCE: BusinessWire

Vacuum Interrupter (Circuit Breaker, Contactor, Recloser, Load Break Switch, & Tap Changer) Market - Global Forecast to 2024 - ResearchAndMarkets.com

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 circuit breaker segment is expected to be the fastest growing market from 2019 to 2024

The 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. For instance, the electricity distribution infrastructure in the US is believed to be from the World War 2 era. Additionally, incorporating unstable electricity in the central grid generated from renewable sources is a major issue in Asia Pacific. To resolve this problem, the infrastructure needs to be revamped. All this would ensure that the circuit breaker installations would go up, ultimately boosting the vacuum interrupter market in the forecast period.

The utilities segment, by end-user, is expected to be the largest market from 2019 to 2024

The utilities segment is expected to hold the largest market share and be the fastest growing segment during the forecast period because of 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.

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).

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.

For more information about this report visit https://www.researchandmarkets.com/r/pc18g