Vietnam Air Blast Circuit Breaker Market Outlook to 2028

Vietnam Air Blast Circuit Breaker Market Overview

• The Vietnam air blast circuit breaker market has shown significant growth over the past decade. In 2018, the global market size was valued at USD 4.7 billion. By 2023, this figure had grown to around USD 6.3 billion, reflecting a compound annual growth rate (CAGR) of 6.1% during this period. The market is primarily driven by the increasing demand for reliable and efficient electrical infrastructure in both urban and rural areas.
• Several key players dominate the Vietnam air blast circuit breaker market, including ABB Ltd., Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, and General Electric Company. These companies are known for their extensive product portfolios, technological advancements, and strong distribution networks.
• A significant development in the Vietnam air blast circuit breaker market occurred in 2023 when ABB Ltd. announced the opening of a new manufacturing facility in Ho Chi Minh City. This facility aims to enhance the production capacity of air blast circuit breakers to meet the growing demand in Southeast Asia.
• Southern Vietnam, particularly Ho Chi Minh City, is the dominant region in the Vietnam Air Blast Circuit Breaker Market. In 2023, this region accounted for 35% of the total market share. This dominance is driven by the high concentration of industrial zones and commercial centers in Ho Chi Minh City and its surrounding areas.

Vietnam Air Blast Circuit Breaker Segmentation 

The Vietnam Air Blast Circuit BreakerMarket can be segmented based on product type, application and region.

By Product Type: The Vietnam air blast circuit breaker market is segmented by product type into medium voltage and high voltage air blast circuit breakers. In 2023, medium voltage air blast circuit breakers held a dominant market share due to their widespread application in commercial and residential buildings.

By Application: The market is also segmented by application into residential, commercial, and industrial sectors. The residential segment dominated due to the growing urban population and increasing demand for uninterrupted power supply in households drive the need for reliable circuit breakers.

By Region: The market is segmented into four regions: North, South, East, and West. In 2023, the northern region dominated due to the presence of the capital city, Hanoi, and its surrounding industrial areas. The ongoing investments in industrial parks and infrastructure projects in the northern region contribute to its significant market share.

Vietnam Air Blast Circuit Breaker Market Competitive Landscape 

• In 2023, ABB Ltd. inaugurated a new manufacturing facility in Ho Chi Minh City, with an investment of USD 50 million. This facility is dedicated to producing air blast circuit breakers to meet the growing demand in Southeast Asia. The new plant is expected to increase ABB's production capacity by 20%.
• In 2024, Schneider Electric launched a new range of eco-friendly air blast circuit breakers designed to minimize environmental impact. These circuit breakers utilize advanced materials and technologies to reduce greenhouse gas emissions. Schneider Electric's commitment to sustainability and innovation positions it as a leader in the market.

Vietnam air blast circuit breaker Market Analysis 

Vietnam air blast circuit breaker Market Growth Drivers: 

• Increasing Industrialization: Vietnam's rapid industrial growth has been a significant driver for the air blast circuit breaker market. In 2024, the country witnessed an increase of 1,200 new industrial establishments, primarily in the manufacturing and processing sectors. These industries require reliable and efficient electrical systems to prevent power disruptions, thereby boosting the demand for air blast circuit breakers.
• Expansion of Renewable Energy Projects: Vietnam's commitment to renewable energy is a critical growth driver for the air blast circuit breaker market. In 2024, the country added 4,500 megawatts of new solar and wind power capacity. These renewable energy projects necessitate the installation of advanced circuit breakers to manage the increased power load and ensure grid stability.
• Rising Demand for Electric Vehicles (EVs): The growing adoption of electric vehicles in Vietnam is driving the demand for robust electrical infrastructure. In 2024, over 50,000 electric vehicles were sold in the country, necessitating the installation of new charging stations and supporting electrical systems. Air blast circuit breakers are crucial for ensuring the safety and reliability of these high-power charging infrastructures.

Vietnam air blast circuit breaker Market Challenges:

• High Initial Costs: The high initial cost of air blast circuit breakers is a significant challenge for the market. In 2024, the average cost of installing an air blast circuit breaker was USD 12,000 per unit. This high expense can deter small and medium-sized enterprises from adopting these advanced systems, limiting market growth.
• Shortage of Skilled Labor: The shortage of skilled labor in the electrical engineering sector poses a challenge to the market. In 2024, Vietnam reported a deficit of 5,000 qualified electrical engineers required for the installation and maintenance of advanced circuit breakers.

Vietnam air blast circuit breaker Market Government Initiative:

• National Power Development Plan VIII (PDP8): In 2023, the Vietnamese government launched the National Power Development Plan VIII, aiming to enhance the country's power infrastructure. The plan includes a USD 2 billion investment over five years to upgrade transmission lines and substations.
• Electrification of Rural Areas: The government's initiative to electrify rural areas has significantly impacted the market. In 2024, over 800,000 rural households were connected to the national grid as part of the ongoing electrification program. This project involves the installation of new electrical infrastructure, including air blast circuit breakers.

Vietnam air blast circuit breaker Market Outlook

Vietnam air blast circuit breaker Market is expected to grow significantly by 2028 along with a respectable CAGR during the period of 2023-2028, driven by increasing technological advancements & expansion of online retail.

Future Trends:

• • Increased Adoption of Renewable Energy: Over the next five years, Vietnam is expected to significantly increase its renewable energy capacity, reaching 45,000 megawatts by 2028. This expansion will drive the demand for advanced air blast circuit breakers to manage the integration of intermittent renewable sources into the grid.
  • Expansion of Electric Vehicle Infrastructure: The expansion of electric vehicle infrastructure will significantly impact the market. By 2028, Vietnam aims to have over 5,000 EV charging stations nationwide. This development will require the installation of robust electrical systems, including air blast circuit breakers.