Vacuum Interrupter Market size is slated to gain profits through 2027 driven by the expansion of transmission and distribution networks, in line with the increasing rate of urbanization and industrialization. A paradigm shift of the interrupter market giants from gas insulation interrupters to gas-free insulators subject to the regulations that curb the release of GHG into the atmosphere would propel the market growth further.
Vacuum interrupter is a switch that makes use of electric contacts in a vacuum. It is considered to be an integral component of medium-voltage, high-voltage, and generator circuit-breakers. These interrupters offer low maintenance and long life, reduce costs, and save abundant space.
The absence of government policies related to vacuum interrupters is expected to produce hinderance to the overall growth of the vacuum interrupter market over 2021-2027.
However, factors like rising number of projects and investments in renewable energy, increasing rate of electrification in impoverished countries, and escalation in the investment in T&D infrastructure across various developing nations would provide ample opportunities for market growth in the years to come.
Based on the application, load-breaking switch segment is poised to grow at a significant pace in the coming years. These switches are used to energize or de-energize a circuit that possesses some limited amount of capacitive or magnetic current. Vacuum load break switch interrupters have also been known to increase the load break capability of the disconnect switch and can be applied for fault currents and switching load of the associated equipment. Additionally, load break switches are used to connect and disconnect electrical load currents offering limited load switch capacity.
In terms of end-user, the utility segment is likely to depict substantial returns through 2027. The segment encompasses industries oriented toward T&D and power distribution process. Vacuum interrupters are serving the globe in distribution circuits, complying with the mechanical and electrical requirements specified in IEC or/and ANSI standards, especially for medium and low voltage applications. The introduction to new electrical gadgets and endless need for utility and electricity services is estimated to further boost the segment expansion.
The global vacuum interrupter industry is diversified into different regions and is likely to hold a notable share from the Asia Pacific region. Countries like Japan, India, South Korea, and China are expected to emerge as the growth rendering economies for the market in the ensuing years, given the rise in economic developments across these countries. A surge in the urbanization has produced massive demand for power consumption. This has necessitated greater investments in the power generation infrastructure. Besides, considerable increase in investments in smart grid technologies would as well create lucrative opportunities for the market demand over the forecast period. Furthermore, easy availability of raw material in the given countries would open up new avenues for the industry.
Some of the prominent players operating in the global vacuum interrupter industry are ABB Ltd., Eaton Corporation plc, Siemens AG, Toshiba Corporation, Crompton Greaves (now CG Power and Industrial Solutions Limited), Mitsubishi Electric Corporation, Atcom, and more.
These players have been consistently striving to build and introduce novel products in the market. They are also engaged in partnerships, mergers, and acquisitions, to gain a competitive edge in the market.
In another instance, in 2020, ABB Electrification’s unit in Germany announced reaching an important milestone for recoding the production of its seven millionth vacuum interrupter.
The novel COVID-19 pandemic outbreak has had a severe impact on the global vacuum interrupter market during the first half of 2020. The coronavirus infection spread has slowed down the market growth due to nationwide lockdowns to curb the spike in cases. Moreover, the demand in power consumption reduced significantly due to temporary halt in commercial operations and shutdown of industries.