The global vacuum interrupter market is projected to grow from an estimated USD 2.4 billion in 2020 to USD 3.1 billion by 2025, at a CAGR of 5.1% during the forecast period. The growth of this market is driven by the replacement and refurbishment of aging infrastructure for safe and secure electrical distribution systems, an expansion of transmission & distribution networks, and the eco-friendly nature of vacuum interrupters compared to its alternatives.
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).
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The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, alliances, joint ventures, and collaborations. Contracts and agreements was the most commonly adopted strategy from January 2016 to October 2020. These industry players also adopted new product launches as a major strategy during that period.
ABB is one of the electrical equipment manufacturers offering vacuum interrupters to commercial, offshore support, and military organizations globally. The company operates through 4 business segments, namely, power grids, electrification products, robotics & motion, and industrial automation divisions. It has specific business units focusing on particular industries and product categories. The product portfolio of the company ranges from switches and sockets to industrial robots. Vacuum interrupter is categorized under ABBs medium voltage product subsegment under the power grids (power distribution) segment, along with modular systems, switchgear, motor control center, circuit breakers, contactors, switches, disconnectors, isolaters, reclosers, fuses & cutouts, passive voltage indicators, and others. In September 2018, ABB supplied High-Voltage Direct Current (HVDC) converter stations in Tajikistan and Pakistan. The project was a part of a World Bank supported order to be executed as a consortium project with Spanish Engineering, Procurement, Construction (EPC) company, Cobra. Cobra was responsible for the construction and installation of the associated substations.
Siemens AG is a German multinational corporation and a global leader in power transmission technology. It operates through 4 business segments, namely, energy, healthcare, industry, and infrastructure. The energy segment includes power distribution & transmission, renewable energy, smartgrid, and mechanical drives among others. The power distribution subsegment offers the following products, namely, vacuum circuit breakers, fuses, medium voltage surge arresters, limiters, switch disconnectors, vacuum contactors, vacuum interrupters, and protective transformers among others. In September 2018, Siemens AG started its manufacturing unit in Queensland, Australia to cater to the growing global demand for Fusesaver. Fusesaver is a product that helps in eliminating up to 80% of sustained electricity outages in rural power networks.
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
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