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.
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.
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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