Increasing demand for vacuum interrupters from end-use industries such as utilities, transportation, mining etc. especially in developing countries is major factor expected to drive growth of the global market over the forecast period.
The current trend in the target market is integration of renewable energy sources into power grids. This factor is expected to drive growth of the global market to a significant extent over the forecast period.
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The contactor application segment in the global vacuum interrupters market is estimated to account for revenue share of over 31% in 2017, owing to increasing power consumption and expanding power distribution networks across the globe are major factors expected to drive growth of the combiner application segment.
Among all the end-use industry segments, the utilities segment is projected to register highest CAGR of over 6%, owing to increasing installation of power infrastructure across the globe.
The market in China is expected to register highest CAGR of over 6% in the global market in terms of revenue and is expected to continue its growth over the forecast period in the global vacuum interrupters market, owing to stringent government initiatives for expansion and modernization of electric transmission grids and distribution infrastructure coupled with increasing focus on renewable energy sources.
The India market is increasing government initiatives for development and expansion of electric grid infrastructure in the country. For Instance, In October 2017, the Ministry of Railways announced, it’s plan to completely electrify the national rail network before 2021 (at an annual pace of 4,000 Km), at an estimated cost of approximately 35,000 crores (US$ 5.67 Bn).
The market in Southeast Asia accounted for revenue share of over 8.0% in the global vacuum interrupters market in 2016, and was valued at over US$ 140 Mn. It is projected to reach nearly US$ 255 Mn in 2026, at a CAGR of over 5% between 2016 & 2026.
The vacuum interrupters market in North America is estimated to account for major revenue share of US$ 504.4 Mn in 2017, owing to growing demand for energy, coupled with increasing focus on power generation using renewable energy resources, and initiatives by governments in countries to modernize electrical grids and transmission networks.
Key players operating in the global vacuum interrupters market include ABB Ltd., Eaton Corporation Plc, Meidensha Corporation, Schneider Electric SE, Siemens AG, Alstom SA, CoorsTek Inc., Toshiba