The Asia Pacific Vacuum Circuit Breaker Market would witness market growth of 5.9% CAGR during the forecast period (2023-2030).
Vacuum circuit breakers are a dependable and affordable solution for smart power & load supply control in distribution networks. For control & operation, they need the least amount of power. The market is primarily driven by rising power consumption, growing technological demand from the distribution sector, aging of traditional oil & air circuit breakers, and expanding demand for transmission, smart grids, and distribution infrastructure. These breakers are extensively utilized in various sectors, including utilities, cement making, electrical distribution substations, metal mining, and building and construction.
By adding medium-voltage circuit breakers to the project's equipment list, ABB increased electrical stability and digitalized power management. Additionally, medium-voltage vacuum circuit breakers are used indoors in structures, residences, and commercial and industrial operations. Medium-voltage vacuum circuit breakers are being used in the distribution end of the electrical grid due to the market's growing electrification. The market is expected to expand due to increased electrification.
The Indian construction industry is anticipated to reach $1.4 trillion by 2025. 75% of GDP will be contributed by the urban population (currently 63%), and 68 cities will have populations greater than 1 million. By 2030, more than forty percent of India's population, compared to thirty-three percent today, is projected to reside in urban areas, creating a demand for twenty-five million additional affordable and middle-class housing units. Under NIP, India has a $1.4 trillion infrastructure investment budget, of which 24% is allocated to renewable energy, 18% to roads and highways, 17% to municipal infrastructure, and 12% to railways. These factors are contributing to expanding the market in the region.
The China market dominated the Asia Pacific Vacuum Circuit Breaker Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $134.5 Million by 2030. The Japan market is poised to grow at a CAGR of 5.3% during (2023 - 2030). Additionally, The India market would register a CAGR of 6.6% during (2023 - 2030).
Based on Voltage, the market is segmented into Medium Voltage, and High Voltage. Based on Industry, the market is segmented into Utilities, Industrial, Commercial, and Residential. Based on Installation Location, the market is segmented into Indoor, and Outdoor. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vacuum Circuit Breaker Market is Projected to reach USD 1.3 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Ltd, Eaton Corporation PLC, Fuji Electric Co., Ltd., Legrand Group, Schneider Electric SE, Mitsubishi Electric Corporation, Siemens AG, General Electric Company, Toshiba Corporation (Toshiba Energy Systems & Solutions Corporation) and Arteche Lantegi Elkartea, S.A.
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