Dec 05, 2020 (AB Digital via COMTEX) -- According to the new market research report "Vacuum Interrupter Market By Application (Circuit Breaker, Contactor,...
According to the new market research report "Vacuum Interrupter Market By Application (Circuit Breaker, Contactor, Recloser, Load Break Switch, & Tap Changer), End User (Oil & Gas, Mining, Utilities & Transportation), Rated Voltage And Region - Global Forecast To 2025", published by MarketsandMarkets™, the Vacuum Interrupter Market is projected to reach USD 3.1 billion by 2025 from an estimated USD 2.4 billion in 2020, at a CAGR of 5.1 % during the forecast period. This growth can be attributed to factors such as continued growth of construction and development activities, increasing access to electricity in developing countries, and the increasing rate of industrialization and urbanization. However, the risks associated with device malfunction and the lack of existing government policies specific to vacuum interrupters are hindering the growth of the Vacuum Interrupter Market.
The Asia Pacific region is projected to be the largest Vacuum Interrupter Market by 2025. Countries such as China, India, Japan, and South Korea are among the major countries considered as the main manufacturing hubs for vacuum interrupters. Over the past few years, this region has witnessed rapid economic development. Also, the growth of the transmission & distribution sectors in this region has resulted in an increase in the Vacuum Interrupter Market. The renewable energy generation in countries such as China, South Korea, Japan, and India, is taking place at a humongous rate, thereby driving the Vacuum Interrupter Market.
