The vacuum circuit breaker market is driven by maintenance-free vacuum circuit breakers, grid upgrades, the growing adoption of grid-connected renewables, and growing demand for better and more reliable performance in the energy industry around the world.
PORTLAND, OR, May 25, 2023 /PRNewswire/ — Allied Market Research has released a report titled “The Vacuum Circuit Breaker Market by Voltage (Medium and High Voltage), Location (Indoor and Outdoor), and End-Use Industries (Residential premises). , Commercial, Industrial & Utilities: Global Opportunity Analysis and Industry Forecast 2023-2032″. According to the report, the output value of the global vacuum circuit breaker industry will be US$900 million in 2022, and is expected to reach US$1.7 billion by 2032, with a compound annual growth rate of 5.8% between 2023 and 2032. year.
The vacuum circuit breaker market is driven by maintenance-free vacuum circuit breakers, grid upgrades, the growing adoption of grid-connected renewables, and growing demand for better and more reliable performance in the energy industry around the world. However, the possibility of switching overvoltage is holding back market growth. On the contrary, infrastructure development is expected to provide numerous opportunities to expand the vacuum circuit breaker market during the forecast period.
The epidemic has brought challenges and opportunities to the vacuum circuit breaker market. The pandemic has highlighted the importance of sustainable energy infrastructure to support basic services and telecommuting.
Government and industry are recognizing the need to invest in reliable electrical systems, including VCBs, to ensure uninterrupted power supply. The growing focus on resilient infrastructure opens up new opportunities for the VCB market.
Depending on the voltage, the medium voltage segment will hold the largest market share in 2022, accounting for almost three-fifths of the global vacuum circuit breaker market revenue, and is expected to maintain its leading position throughout the forecast period. Known for its small size and flexibility, it is widely used in HVAC systems and industries where large current is required. In addition, the medium voltage segment is expected to register the highest CAGR of 5.87% between 2023 and 2032 due to increased construction of smart buildings in residential and commercial end-user industries.
Depending on the installation location, the domestic segment will hold the largest market share in 2022, accounting for almost three-fifths of the global vacuum circuit breakers market revenue, and is expected to maintain its leading position throughout the forecast period. Moreover, the same segment is forecast to register the highest CAGR of 5.88% from 2023 to 2032. As more and more renewable energy sources such as solar and wind power are integrated into the grid, there will be an increasing need for reliable and efficient protective devices to keep electrical systems safe and stable.
Based on the end-use industry, the utility segment will hold the largest market share in 2022, accounting for almost two-fifths of the global vacuum circuit breaker market revenue, and is expected to maintain its leading position throughout the forecast period. In addition, the residential segment is expected to achieve a CAGR of 6.24% between 2023 and 2032 due to increased demand for smart and energy efficient homes and the need to improve electrical safety measures.
By region, Asia Pacific holds the highest market share in terms of revenue in 2022, accounting for more than one third of the global vacuum circuit breaker market revenue. The region is expected to register the fastest CAGR of 6.05% from 2023 to 2032. This is due to a sharp increase in investment in renewable energy for rural and urban electrification in the region, with a significant increase in investment from major players.
The report provides in-depth analysis of these key players in the global Vacuum Circuit Breakers market. These companies have adopted various strategies such as joint ventures, expansion and product launches to increase their market share and maintain their dominant position in different regions. The report is valuable because it highlights the business performance of market participants, operating segments, product portfolio and strategic initiatives to present a competitive scenario.
This report quantifies the segments, current trends, valuations and market analysis dynamics of Vacuum Circuit Breakers from 2022 to 2032 to identify the key Vacuum Circuit Breakers market opportunities for High Voltage Vacuum Circuit Breakers and Outdoor Vacuum Circuit Breakers.
Market research and information related to key drivers, constraints and opportunities are provided.
Porter’s Five Forces Analysis highlights the potential of buyers and suppliers, enabling stakeholders to make profitable business decisions and strengthen their supplier-buyer networks.
An in-depth analysis of the vacuum circuit breakers market segments helps identify current market opportunities.
Major countries in each region are mapped based on their income contribution to the global market.
The positioning of market participants facilitates benchmarking and gives a clear picture of the current position of market participants.
The report includes analysis of regional and global market trends, key players, market segments, application areas and market growth strategies.
Want to access statistics and charts, strategies of key players: https://www.alliedmarketresearch.com/vacuum-circuit-breaker-market/purchase-options
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Post time: Jun-21-2023