North America 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 kind of circuit breakers where the arc quenching takes place in vacuum. They are widely used in industries, like building & construction, utilities, cement manufacturing, mining & metal, etc. 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, expanding access to electricity in developing countries, stringent demands for operational safety, growing need for effective load management, and the need of renewable energy to be connected to the grid is expected to drive the North America vacuum circuit breakers market during the forecast period.
Need for Effective Load Management
Load Management or Demand Side Management (DSM) relies on adjusting the load side of an electrical network to balance the supply of electricity on the network, rather than adjusting the power station output. This method can be used by power utilities to manage peak period demand without relying on peaking power plants. This also helps to avoid the various problems associated with peaking power plants, such as greater emissions, higher generation costs, lower efficiency, etc.
One of the means to implement load management is using circuit breakers, where it can be triggered using frequency sensitive relays, thereby disconnecting the load. Progressively, the US utilities are employing load management systems to decrease private power use during system peak hours. The growing demand for load management systems is expected to drive the North America vacuum circuit breaker market during the forecast period.
New Investments in Upgrading the US Power Grid
The US Department of Energy has announced USD 220 million in financing for ventures from a large group of national laboratories to help upgrade the country’s power grid over the next few years. The country’s grid system, in general, connects electricity from a huge number of energy plants to 150 million customers through more than five million miles of electrical cables, and around 3300 utility organization. EPRI (Electric Power Research Institute) is making efforts to move the United States to a smarter national grid with better protection, which is expected to ensure that the consumers get reliable, high-quality digital–grade power, improved electricity related services and a better environment. The upgradation of the US power grid network is expected to drive the demand for vacuum circuit breakers in the country during the forecast period.
Key Developments in the Market