The global Vacuum Contactor market is
estimated to expand at 8.02% CAGR during the forecast period. Vacuum
Contactor is an electrically controlled device that can make or break an
electrical circuit with the help of vacuum interruptor 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 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.
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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. Some of the major
applications of vacuum contactors are in motors, transformers, capacitors,
reactors, and resistive loads, among others. Many industries such as oil and
gas, commercial, mining, utilities, and others require vacuum contactors to
protect their expensive equipment.
Industry
Segmentation
Based on application, the market is
segmented as motors, transformers, capacitors, reactors, resistive load, and
others. Motor is estimated to dominate the market during the forecast period.
Vacuum contactors help to reduce the possibility of insulation failure on
downstream motors and transformers. Moreover, it controls the motors in harsh
environment and regulate the power supply to prevent a sudden increase in load
in the motor.
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Regional
Analysis
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.
Key
Players
The key players of the global vacuum
contactor market 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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