Vietnam’s automatic circuit breaker import market is poised for significant growth, with market value projected to rise from US$170 million in 2024 to US$417.55 million by 2033. This represents a compound annual growth rate of 10.5 percent, according to a report from Research and Markets.
The surge in demand is attributed to Vietnam’s developing electrical industry, which currently lacks the technical expertise and production capacity to meet domestic needs. As a result, the country relies heavily on imports of circuit breakers and other electrical protection devices.
The report goes on to say that government efforts to enhance the nation’s power network infrastructure are playing a crucial role in driving demand. Ongoing investments in power generation and supply projects, alongside the expansion of industrial and residential power systems, are boosting market prospects.
The rising adoption of industrial automation and smart building technologies in Vietnam is also contributing to the market’s growth. With the emphasis on modernising infrastructure and ensuring electrical safety, industry experts predict a sustained demand for automatic circuit breakers in the years to come.
See also: Electronics Manufacturing in Vietnam