Contactors are electrical controlled
switch used for switching an electrical power circuit with higher current
ratings. Growing application of medium voltage contactors in industries where
it is well suited for heavy duty applications and harsh environment including
metals & mining industry, chemicals & petrochemicals industry and
others. Medium voltage Contractors are majorly used in applications that have
larger current requirements and high operations counts. Medium voltage contractors
are compact, electrically maintained and used to efficiently protect and
control motors, transformers and breakers for many different applications.
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The constant need for electricity, the
growing need for efficient and effective load management and the need of
renewable energy to be connected to the grid will aid in the growth of the
Contactors Market over the forecast period. However, the high cost of
contactors and high level of intricacy involved in the design for module level
protection will restrain the Contactors Market Globally.
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Currently, the Contactors Market is in the
growth stage. This is due to the increase in demand for power, global
initiatives to use more renewable and non-conventional energy sources, smart
distribution grids and the global need to upgrade transmission & distribution
grids which will safeguard the system from fluctuating load is expected to
boost the global contactors market. Currently, Asia-Pacific region is the
leading market for Contactors Market and is followed by North-America.
Key
Players:
The key players of Global Contactors
Market are ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric
Company (USA), Crompton Greaves Ltd. (India), Rockwell Automation (USA),
Schneider Electric (France), Mitsubishi Electric Corporation (Japan), L&T
Electrical & Automation (India), Toshiba Corporation (Japan) and Eaton
Corporation PLC (Ireland).
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