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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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.
Key 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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Regional Outlook:
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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