Vacuum Contactor Market Analysis, Growth Opportunities, Share Report, Business Size, Demand & Supply by 2023

Posted June 28, 2019 by DhanashreeP

Global Vacuum Contactor Market held a market is expected to grow at 8.02% CAGR during the forecast period.
Industry Overview

Vacuum Contactor is an electrically controlled device that can make or break an electrical circuit with the help of vacuum interrupter or relay. Vacuum contactors are often used as motor starter to prevent a sudden increase in load in the motor start-up. This would help to reduce the power consumption. The global Vacuum Contactor market is estimated to expand at 8.02% CAGR during the forecast period.

Vacuum Contactor is an electrical device that is used for load breaking through the help of a controlled switch. Vacuum interrupting contacts are enclosed inside a vacuum bottle, which prevents the development of arc when there is a voltage fluctuation.

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The growing demand for vacuum contactor market is attributed to the growth in industrialization and urbanization as this would increase the demand for reliable power supply. Vacuum contactors are more cost effective as compared to circuit breakers for medium voltage applications. This would create an opportunity for market players to boost the growth of vacuum contactor market during the forecast period. One of the major restraints for the global vacuum contactor market is the risk associated with loss of vacuum in the vacuum contactor.

Prominent Players:

The key players of the global vacuum contactor market are General Electric (US), Schneider Electric (France), ABB (Switzerland), Siemens (Germany), Toshiba Corporation (Japan), Eaton Corporation (Ireland), Mitsubishi Electric (Japan), Larsen & Toubro (India), Rockwell Automation (US), and Crompton Greaves (India), among others.

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Industry Segmentation

The vacuum contactor market has been segmented based on end-user into utilities, industrial, commercial, oil & gas, mining, and others. Among these end-users, utilities are the fastest growing segment in the vacuum contactor market owing to increasing installation of power infrastructure Moreover, countries in Europe are shifting towards renewable sources for power generation which would further drive the demand for vacuum contactors.

Regional Outlook

Asia Pacific is expected to be the largest market for vacuum contactors.

Region wise, Asia Pacific held the largest market share of the global vacuum contactor market in 2017. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the rising investment in manufacturing sector and process industries such as paper & pulp, metal processing, and others. The high growth of vacuum contactors is also attributed to the growing demand for reliability of power supply in harsh environments and robust growth in HVAC sector. Rising urbanization in Asian countries has led to an increase in the demand for HVAC products which has acted as a significant driver for the vacuum contactor market.

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Issued By MRFR
Country India
Categories Business , Energy
Tags vacuum contactor market , vacuum contactor market demand , vacuum contactor market trends
Last Updated June 28, 2019