DUBLIN, Oct. 21, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/9g35th/vacuum) has announced the addition of the "Vacuum Interrupter Market by Applications (Circuit Breakers, Contactors, Reclosers, load break switches, and tap changers ), by end-users (Oil & Gas , Mining, Utilities and transportation), & by Region - Global Trends & Forecasts to 2020" report to their offering.
The global vacuum interrupter market size is estimated to reach USD 2,052.6 Million by 2020 from USD 1,536.7 Million in 2015.
The market is expected to grow at a CAGR of 6.0% during the forecast period. The main drivers propelling the growth are refurbishment of the aging and old power infrastructure in the countries like U.S. and Canada, growing environmental norms which gives vacuum interrupter a leading edge as compared to its alternatives like SF6, and oil.
The Asia-Pacific region holds a majority of market share owing to urbanization and significant development of the power infrastructure increasing the electrification rate in countries in Asia-Pacific, followed Europe and North America. In terms of individual countries, the U.S., India and China show high growth potential. This growth can be attributed to the increasing demand for reliable power and investments for replacing aging T&D infrastructure in the U.S. and progressive economic growth of China.
The reports also details about the various applications in which the Vis are used like circuit breakers, contactors, load break switches, reclosers, and tap changers. The major market share is held by contactors, followed by the circuit breakers. The growing need for the fast switching devices in the power industry would lead to the development and advancement of the market.
Amongst the end-users, utilities sector is estimated to hold the major market share owing to increasing installation of power infrastructure. North American region is currently focussing on grid modernization and replacement of existing power infrastructure. Utilities was followed by oil & gas which finds the applications in the various equipment like circuit breakers, contactors, tap changers. These finds their installation in the various equipment like motors, transformers and capacitors.
In terms of growth strategies, market players have mainly been forming partnerships and grabbing contracts & agreements in order to expand as well as strengthen their market foothold. Contracts & agreements is the most commonly adopted strategy that is followed by new product launches, and mergers & acquisitions. This shows a mix of both organic and inorganic growth strategies.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 VI Market, By End-User
7 VI Market, By Application
8 VI Market, By Region
9 Competitive Landscape
10 Company Profiles
- ABB (Asea Brown Boveri)
- Chengdu Xuguang Electronics Co., Ltd.
- China Zhenhua Electron Group Yuguang Electrical Ltd.
- Crompton Greaves Limited
- Eaton Corporation
- LS Industrial System
- Meidensha Corporation
- Mitsubishi Electric Corporation
- Shaanxi Baoguang Vacuum Electric Device Co., Ltd.
- Siemens AG
- Toshiba Corporation
- Wuhan Feite Electric Co., Ltd.
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SOURCE Research and Markets