Vacuum Contactor Market Share, Regional Analysis, Key Players Profiles and Future Prospects 2023

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 global Vacuum Contactor market is estimated to expand at ~8.02% CAGR during the forecast period.

The growing demand for vacuum contactor market share 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.

Continuous increase in investment and upgradation in process industries, manufacturing industry, commercial, and large residential complexes that use HVAC systems would drive the vacuum contactor market. Counties in Asia present hot climatic conditions along with rise in urbanization which has driven the demand for HVAC products. Additionally, the increasing demand for fast-switching devices is considered to have an equally upshifting effect on the demand for vacuum contactors.

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.  

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.

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.