Europe Vacuum Circuit Breakers Market - Growth, Trends, and Forecast (2018 - 2023)
Vacuum circuit breakers are electrical switching devices used on distribution and transmission networks for safety of the equipment and devices. They provide safe and reliable medium-voltage power distribution and stand out for their long service life. They are circuit breakers where the arc quenching takes place in vacuum. They are widely used in industries like, building & construction, utilities, cement manufacturing, mining & metal and others. The advantage of using a vacuum circuit breaker is that it can be operated frequently or at a place of a multi-breaking short circuit. This technology is mainly used for medium-voltage applications. Normally, medium-voltage circuit breakers are utilized inside switchboards or boards that are situated at the points of the distribution network where the voltage of the electric power is brought down from high to values up to couple of several KV. The consistent requirement for power, stringent demands for operational safety, growing need for effective load management, and the need of renewable energy to be connected to the grid are expected to drive the Europe vacuum circuit breakers market during the forecast period.
Increasing Demand for Energy Efficiency in Construction Industry
Construction Industry has been important to EU’s economy. Buildings hold the largest market share of the total EU final energy consumption. In addition, building renovation can increase energy efficiency and for that a new funding scheme under European Fund for Strategic Investments was implemented in 2015 to finance small energy projects, like renovation. Government initiatives, like European Electricity Grid Initiative, are expected to boost the development of power networks, in turn, driving the vacuum circuit breakers market.
Germany is the Leading Market in Europe
As of 2017, around 80% of all power grid operators in Germany opted for vacuum switch gears. Vacuum circuit breakers accounted for 99% of the circuit breaker market in Germany in 2017. Siemens, which is a key player in the vacuum circuit breakers market, is trying to improve the circuit breaker technology through R&D in Germany. In addition, there is an increasing government expenditure to promote growth of the vacuum circuit breaker market in the country. The technological advancements and increasing government and private investments are expected to drive the market during the forecast period.
The major players include - ABB Ltd, General Electric, Toshiba, Eaton Corporation., Siemens Ltd, CG Power and Industrial Solutions Limited, amongst others.
Reasons to Purchase the Report
Current and future Europe vacuum circuit breakers market outlook in the developed and emerging nations
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Segment that is expected to dominate the market
Countries that are expected to witness the fastest growth during the forecast period
Identify the latest developments, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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