Vacuum Circuit Breaker Market Size was valued at USD 5.1 Billion in 2023. The Vacuum Circuit Breaker market End Use is projected to grow from USD 5.41 Billion in 2024 to USD 8.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.18% during the forecast period (2024 - 2032). need for reliable and continuous electrical energy is rising, and power generation investments are expanding, particularly in renewable energy sources, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rising demand for power is what is fueling the expansion of the vacuum circuit breakers market. The market is expanding as a result of rising technical demand from the distribution industry as well as rising demand for smart grids, transmission, and distribution infrastructure. In addition, the expansion of distribution and transmission infrastructure is a result of the swift industrialisation and urbanisation of emerging economies. The International Energy Agency (IEA) estimates that a total of USD 281 billion would be invested globally in renewable energy generation in 2020. A total of USD 308 billion was discovered to have been invested globally in the power sector's use of renewable energy in 2018. A specialised protective system is necessary for renewable energy sources like solar and wind power. As a result, in order to link power generating stations to switchyards and the electrical grid, circuit breakers are needed. It is among the most crucial and significant parts of an electrical system. It controls power supply and ensures power system protection. The industry is being driven by increased demand for renewable generation and distribution due to concerns about the reliability of renewable energy.
According to the BP Statistical Review of World Energy, the amount of renewable electricity generated globally in 2019 was 2805.51 Terawatt-hours. In order to decarbonize the power distribution system and ensure environmental protection, several utilities are placing a strong emphasis on the integration of renewable energy. Consequently, it is anticipated that in the future, a sizable portion of the total mix of power generation will come from renewable sources. Since circuit breakers are crucial for safeguarding and managing electrical power systems, a growth in the production of renewable energy is driving up demand for them. To link rural areas to the grid, some developing nations are pursuing electrification programmes. Additional attempts are being made by other nations to create a mega-countrywide grid by combining various grid zones. In transmission and distribution lines, these electrical switching devices are easily installed to safeguard the electric power system from any electrical problems. For instance, the West Africa Power Pool, which is viewed as essential to guaranteeing that everyone has access to power in the 15 countries of the Economic Community of West African States by 2030, received over US$ 2.3 billion in infrastructure and reforms funding from The World Bank in June 2021. The adoption of these electrical switching devices for secure and dependable operation is therefore fueling a demand for circuit breakers.
Electrical networks in residential and commercial structures, businesses, and utility-scale grids must now always include circuit breakers. Due to the fast rising urbanisation and modernization, electrical switching devices are installed in every home, business and other building. Therefore, ongoing efforts are made to provide a safer atmosphere. The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 went into force on June 1 of that same year. New tenancies were subject to the new electrical requirements as of July 1, 2020, while continuing tenancies were subject to them as of April 1, 2021. This legislation states that landlords must hire a "qualified and competent" individual to assess and test their electrical installations at least every five years. The new electricity laws carry fines of up to $34,000 for violations. The outlook for the Circuit Breaker industry throughout the projected period is favourably impacted by these regulatory regulations. Thus, driving the Vacuum Circuit Breaker market revenue.
The Vacuum Circuit Breaker market segmentation, based on Type, includes Indoor and Outdoor. Outdoor segment dominated the market in 2022. The industry is anticipated to grow as more solar and wind power facilities are installed. Additionally, as infrastructure improvements are made in nations with high rates of urbanisation, the demand for outdoor circuit breakers is rising.
The Vacuum Circuit Breaker market segmentation, based on Voltage, includes Medium and High. High segment dominated the market in 2022. Investments in the electrical transmission network are what are fueling demand for high voltage circuit breakers, which is what is driving the expansion of the high voltage segment.
Figure 1: Vacuum Circuit Breaker Market, by Voltage, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Vacuum Circuit Breaker market segmentation, based on End Use, includes Utilities, Building & Construction, Food & Beverages, Chemicals & Petrochemicals, and Metals & Mining. Utilities segment dominated the Vacuum Circuit Breaker market in 2022. The market is anticipated to be driven by rising electricity demand and infrastructure replacement for ageing systems. Additionally, one of the main factors contributing to the greatest market shares of distribution utilities is the increasing smart grid expenditures by utilities.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Vacuum Circuit Breaker Market dominated this market in 2022 (45.80%). The increasing growth in industrial and manufacturing facilities has increased demand for vacuum circuit breakers. VCB is used for high switching purposes in industrial sectors like food and beverage, metal and mining, chemicals and petrochemicals, etc. Vacuum circuit breakers are necessary for a steady and dependable energy supply due to the growth of railways, metros, bullet trains, IT hubs, commercial centres, etc. Further, the U.S. Vacuum Circuit Breaker market held the largest market share, and the Canada Vacuum Circuit Breaker market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Vacuum Circuit Breaker Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Vacuum Circuit Breaker market accounted for the healthy market share in 2022The region's expansion is credited to the rising commercial endeavours, industries, and infrastructural initiatives. Further, the German Vacuum Circuit Breaker market held the largest market share, and the U.K Vacuum Circuit Breaker market was the fastest growing market in the European region
The Asia Pacific Vacuum Circuit Breaker market is expected to register significant growth from 2023 to 2032. This can be attributed to the market's rising urbanisation and industrialization, which is largely being driven by countries like China and India. Moreover, China’s Vacuum Circuit Breaker market held the largest market share and the Indian Vacuum Circuit Breaker market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Vacuum Circuit Breaker market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Vacuum Circuit Breaker Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Vacuum Circuit Breaker Industry to benefit clients and increase the market sector. In recent years, the Vacuum Circuit Breaker Industry has offered some of the most significant advantages to medicine. Major players in the Vacuum Circuit Breaker market, including Schneider Electric SE, ABB Ltd., Mitsubishi Electric Corporation, Alstom SA, Siemens AG, Toshiba, Larsen & Turbo, Hyundai Heavy Industries, Hitachi, Fuji Electric, Nissin Electric, Xian XD, Hyosung, Bharat Heavy Electric Ltd., Eaton, and Meidensha, are attempting to increase market demand by investing in research and development Types.
Siemens AG (Siemens) focuses on technology. The automation, digitalization, and electrification fields are all covered by its operations. The company designs, develops, and manufactures goods in addition to installing complex projects and systems. Additionally, it provides a range of uniquely created solutions for various demands. Siemens specialises in power generation and delivery, intelligent building infrastructure, and distributed energy solutions. It provides medical technology, smart mobility solutions, and digital healthcare services for the road and rail transportation sectors. Siemens maintains locations for its manufacturing plants, distribution centres, and sales offices all around the world. It offers clients services in a variety of industries, such as manufacturing, infrastructure, process, and energy. Siemens has its headquarters in Munich, Bavaria, Germany. In September 2020, Siemens announced the type SDV-R non-arc-resistant and type SDV-R-AR arc-resistant medium-voltage outdoor distribution circuit breakers for renewable energy applications, such as the production of wind energy.
Eaton Corporation Plc (Eaton) is a company that controls power. In order to help clients manage mechanical, hydraulic, and electrical power more efficiently, safely, and sustainably, it develops, manufactures, and markets energy-efficient products, services, and technology. The company provides its services to customers in a number of countries throughout North America, Europe, Latin America, Asia Pacific, Africa, and the Middle East in the utility, government, industrial, information technology, residential, institutional, machine tools, marine, material handling, commercial, construction, agriculture, renewable energy, oil and gas, mining, forestry, automotive, moulding, primary metals, power generation, and aerospace sectors. It runs industries across the globe. Eaton's headquarters are in Dublin, Ireland. The Endurant XD series will be introduced in September 2020, according to an announcement by Eaton Cummins Automated Transmission Technologies, expanding the Endurant Automated Transmission offering. For heavy-duty on/off highway applications like dump and logging trucks as well as on-highway applications like double- and triple-trailer vehicles, the series is a family of high-performance automatic transmissions.
Schneider Electric announced in May 2023 that it would be launching its medium voltage circuit breaker, EvoPacT. This product has been created to serve the infrastructure needs of large industrial and commercial buildings, as well as electro-intensive processes and cloud and service providers.
Feb-2022: South Korean multinational conglomerate corporation LG Electronics partnered with Eaton. Eaton’s smart breakers, intelligent power management technology and EV chargers will be combined into LG energy administration solutions and integrated within LG ThinQ Energy mobile app to facilitate home load management.
Jan-2022: Samsung, a multinational electronics corporation, entered into a partnership with Eaton. By doing so, consumers on Samsung SmartThings Energy platform can extend their reach by also incorporating Eaton smart circuit breakers that provide insights and awareness beyond their connected devices throughout their homes.
Nov-2022: ABB Ltd. introduced VD4 EVO, a new Digital Medium Voltage Vacuum Circuit Breaker. The VD4 EVO is an Environmental Product Declaration (EPD) certified device. With this product being fully compatible with existing VD4 breakers coupled with its plug-and-play design, it makes installation easier.
Nov-2022: Siemens AG has updated its portfolio with the introduction of the compact version HB1-Compact of its circuit-breaker series. Available in L-shape or I-shape designs for vertical or horizontal mounting respectively, the new compact version works wonders while using maintenance-free vacuum switching technology for overcoming even very difficult boundary conditions.
Oct-2022: Mitsubishi Electric Power Products, Inc. unveiled a 72kV vacuum circuit breaker that is part of its switchgear product line. It offers customers an environmentally acceptable alternative to SF6 gas based on alternative gases insulating mediums at zero global warming potential.
May 2022: Schneider Electric launched SureSeT MV switchgear in the North American market. This combination combined with EvoPacT offers a number of advantages such as compact design, improved operational safety and lifetime extension among others.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 5.1 Billion |
| Market Size 2024 | USD 5.41 Billion |
| Market Size 2032 | USD 8.1 Billion |
| Compound Annual Growth Rate (CAGR) | 5.18% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Voltage, End Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Schneider Electric SE, ABB Ltd., Mitsubishi Electric Corporation, Alstom SA, Siemens AG, Toshiba, Larsen & Turbo, Hyundai Heavy Industries, Hitachi, Fuji Electric, Nissin Electric, Xian XD, Hyosung, Bharat Heavy Electric Ltd., Eaton, and Meidensha |
| Key Market Opportunities | Replacement of aging grid infrastructure and the need for reliable T&D networks |
| Key Market Dynamics | The increasing demand for stable and continuous electrical energy around the world and growing investments in power generation, specifically from renewable energy sources |
Vacuum Circuit Breaker Market Highlights:
Frequently Asked Questions (FAQ) :
The Vacuum Circuit Breaker market size was valued at USD 5.1 Billion in 2023.
The market is projected to grow at a CAGR of 5.18% during the forecast period, 2024-2032.
North America had the largest share in the market.
The key players in the market are Schneider Electric SE, ABB Ltd., Mitsubishi Electric Corporation, Alstom SA, Siemens AG, Toshiba, Larsen & Turbo, Hyundai Heavy Industries, Hitachi, Fuji Electric, Nissin Electric, Xian XD, Hyosung, Bharat Heavy Electric Ltd., Eaton, and Meidensha.
The Outdoor Type dominated the market in 2022.
The High Voltage had the largest share in the market.
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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