South 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, 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 South America vacuum circuit breakers market during the forecast period.
Increase in Demand for Electricity in South America
Electricity demand is growing rapidly in South America due to growing middle-class, in turn, the buying power of electrical appliances; many countries are embracing energy-intensive sectors. The consumption of energy is expected to rise, focusing the government’s attention on the need for new generating capacity. Many governments have set new benchmarks for renewable energy and offered financial perks to wind and solar suppliers. This development is expected to support the growth of the vacuum circuit breakers market.
Positive Market Scenario Expected in Brazil
The Brazilian economic condition is forecasted to improve from the current condition. The development initially came from the agriculture sector, later on by other industries, such as building & construction, utilities, and mining & metal, etc. The vacuum circuit breaker market is expected to witness an improvement in the country as the growth is expected to be further augmented. However, the investor confidence is likely to remain sensitive to political developments.
The major players include - ABB Ltd, Eaton Corporation, Toshiba, Schneider Electric, Siemens Ltd, Hawker Siddeley Switchgear Ltd, Fuji Electric, amongst others.
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