Global
Vacuum Contactor Market Overview
A
vacuum contactor refers to an electrically controlled switch aids in the making
or breaking of an electrical circuit using the vacuum interrupter, relay, and
fuse. This switch is generally found to be integrated into motor starters,
switch gears, and control gear of medium voltage fast-switching devices. Vacuum
contactors are also widely applied in HVAC systems. This application is mainly
done because refrigeration, ventilation, and cooling equipment need an AC motor
system. Hence, the HVAC systems are expected to be the primary driver of the
vacuum contactor market all over the world.
The
global vacuum contactor market is likely to witness a lucrative CAGR of 8.02%
during the forecast period. Continuous investments noted in the upgradation of
process industries, manufacturing industry, commercial, and large residential
complexes that use HVAC systems are expected to foster the vacuum contactor
market growth. Further, countries residing in the APAC region are expected to
witness higher temperatures in climate, along with the rise noted in
urbanization. This has contributed heavily to the ascension of the global
vacuum contactor market. Growth noted in the relevant industries such as
capacitors, switchgear, motors, and transformers is also likely to supplement
the growth of the global vacuum contactor market over the coming years.
Market
Segmentation
The
Eaton
Vacuum Contactor Market is segmented by voltage rating, application, end-users,
and region. Based on the application, the global vacuum contactor market is
segmented into motors, transformers, capacitors, reactors, resistive loads, and
other applications. The other applications segment is further segmented into generators,
pumps, variable frequency drives, power transmitters, and switchgear.
The
motors segment is likely to dominate the global vacuum contactor market over the
forecast period. Vacuum contactors aid in the reduction of the possibility of
insulation failure on downstream motors and transformers. Further, vacuum
contactors also control motors in harsh environments and regulate the power
supply for the prevention of a sudden rise in the load of the motor.
Based
on voltage rating, the global vacuum contactor market is segmented into less
than 5kV, 5kV to 10kV, 11kV to 15kV, and more than 15kV. Whereas, the global
vacuum contactor market is studied for various end-users that are poised to aid
a higher consumption of vacuum contactors over the forecast period. Such
segmentation includes utilities, industrial, commercial, mining, oil & gas,
and others.
Regional
Analysis
The
global vacuum
contactor market is studied for detailed regional segmentation of North
America, Asia Pacific, the Middle East & Africa, Europe, and Latin America.
Asia Pacific is the largest shareholder in the global vacuum contactor market
at the beginning of the forecast period. Experts have also estimated that Asia
Pacific would be the fastest-growing region within the global vacuum contactor
market during the forecast period. This can be mainly owed to the mounting
investments noted in the manufacturing sector and various process industries.
Such process industries include paper & pulp, as well as metal processing.
The growth noted in the vacuum contactors is also accredited to the upscaling
demand for the reliability of power supply in severe environments and vigorous
growth in the HVAC sector. Rising urbanization in various countries within the
region has also contributed to the magnified demand for HVAC products, which
has provided momentum to the market’s growth.
Key
Players
Some
notable market vendors present in the global vacuum contactor market include General
Electric (US), ABB (Switzerland), Schneider Electric (France), Siemens
(Germany), Eaton Corporation (Ireland), Toshiba Corporation (Japan), Mitsubishi
Electric (Japan), Rockwell Automation (US), Larsen & Toubro (India), and
Crompton Greaves (India).
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