Vacuum Contactor
Market Analysis
The constant growth in investment and development in
process industries is motivating the vacuum contractor market. Reports that
investigate the energy and power industry have been presented by Market
Research Future, which produces reports on industry verticals that appraise the
market expansion and prospects. The market is projected to gain an 8.02% CAGR
in the extent of the forecast period.
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 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.
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 evaluation of the
segments in the vacuum contactor market is carried out on the basis of application, voltage rating, end-user,
and region. The
application-based segmentation of the vacuum contactor market comprises of resistive
loads, transformers, capacitors, motors, reactors, and other applications such
as power transmitter, pumps, generators, variable frequency drive, and
switchgears. The motors and transformers segment holds a larger share in the
vacuum contactors market due to the system dependability for harsh
environments. Similarly, the heavy-duty cycling of motors will entail vacuum
contactors for dependable starting and control of the motors. On the basis of Voltage
Rating, the vacuum contactor market is segmented into 5kV to 10kV, 11kV to
15kV, Less than 5kV, and more than 15kV. Based on the end-users, the vacuum
contactor market is segmented into utilities, industrial, commercial, oil &
gas, mining, and others. Based on the regions, the vacuum contactor market is
segmented into the Middle East & Africa, North America, Europe, Asia
Pacific, and South America.
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.
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.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact:
Market
Research Future
+1
646 845 9312
You may also be Interested in
Global
Vacuum Circuit Breaker Market Research Report by Type (Indoor and
outdoor) End-Use (Utilities, Building & Construction, Food & Beverages,
Chemicals & Petrochemicals, Metals & Mining) Voltage (Medium &
High), and Region - Global Forecast till 2023
Contactor Market Research Report - Global Forecast till 2024
