Market Size of Asia-Pacific Vacuum Circuit Breakers Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Vacuum Circuit Breakers Market Analysis
The Asia-Pacific vacuum circuit breakers market is expected to record a CAGR of more than 2% during the forecast period 2022-2027. The COVID-19 pandemic negatively affected the market by delaying projects due to restricted human movements, closure of manufacturing facilities, and lesser discretionary spending due to uncertain economic conditions. Factors such as increasing adoption of renewable energy connected to the electrical grid and modernization of existing electrical grid to smart and IoT-enabled grids are likely to drive the market. However, rising prices of raw materials needed in manufacturing coupled with the emergence of alternative circuit breaker technologies may restrain the market.
The medium-voltage vacuum circuit breaker segment is expected to dominate during the forecast period due to its technical advantages.
The region is witnessing a rapid increase in the demand and consumption of electricity along with grid modernization and increasing adoption of grid-connected renewable energy sources. Such activities are likely to present significant opportunities to the players in the market.
China is expected to dominate the Asia-Pacific vacuum circuit breakers market during the forecast period.
