Global Vacuum Contactors Market Predicted to Grow at a CAGR of about 7% by 2021

Albany, US, 2017-Oct-07 — /EPR Network/ — A vacuum contactor is an electrical device that is used for load breaking through the help of a controlled switch. The switch can make or break an electrical circuit with the help of vacuum interrupter contacts. Vacuum interrupting contacts are encapsulated inside a vacuum bottle, which suppresses the arc when there is a voltage surge or spike. Significant applications of vacuum contactors are in (3-phase or 4-phase AC) motors, transformers, and capacitors usually for surge protection and short-circuit prevention.

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Technavios analysts forecast the global vacuum contactors market to grow at a CAGR of 7.03% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the global vacuum contactors market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

Research analysis on the global vacuum contactors market identifies the increasing usage of HVAC processes as one of the major factors that will have a positive impact on the market’s growth in the coming years. Technavio’s market research analysts predict that this market will grow at a CAGR of about 7% by 2021. Vacuum contactors are widely used in HVAC systems since refrigeration, cooling, and ventilation equipment need an AC motor system. Vacuum contactors provide regular power supply and lower the power surge and short circuit currents throughout the power system in an AC motor. Moreover, these contactors also lower the power consumption levels and protect the equipment that is connected to an electrical network. Government regulations on energy efficiency and the use of environmentally friendly refrigerants is likely to boost the sales of HVAC equipment in Western Europe and other developed markets. This will increase the need for vacuum contactors in HVAC equipment, subsequently driving market growth.

The rising requirement for improving productivity and the efficiency of equipment in industries will be one of the key trends that will drive the growth of this market. Modernization of plant facilities to integrate automation has become a vital part of numerous manufacturing processes. The use of advanced equipment and control technologies result in streamlined, efficient, and faster processes. The development in automation trends is likely to drive the competitive environment of the global industrial sector. Currently, manufacturers are increasingly investing towards the modernization of technologies in the manufacturing industries to achieve faster and better returns. Vacuum contactors will play a significant role in process industries, mainly due to their wide range of applications, the ease of use, lower maintenance requirement, and energy-efficient properties.

Competitive landscape and key vendors 

The vacuum contactor market consists of few automation vendors who have a strong presence in both the medium- and high-voltage contactor market segments. Numerous vendors provide end-to-end products and services and many core vendors offer vacuum contactors to manufacturing industries according to their requirements. The level of competition between the global and regional players is intense and the global vendors are currently leading the market mainly based on factors such as quality, durability, reliability, and technological innovations.

The leading vendors in the market are –

ABB
GE
Siemens AG
Schneider Electric
Toshiba

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The other prominent vendors in the market are Eaton, Rockwell Automation, LS Industrial Systems, Specialty Product Technologies (Joslyn Clark), Ampcontrol, CIRCUTOR, CG, Ross Engineering, HUANYU GROUP, and GREEGOO Electric.

Segmentation by end-user and analysis of the vacuum contactors market

Oil and gas industry
Mining and metal industry
Utility industry

During 2016, the utility industry accounted for the major shares of the vacuum contactors market. The increased assistance provided by vacuum contactors in protecting transformers and capacitors, which results in reduced downtime, will be the major factor contributing to the growth of the market in this end-user segment in the coming years.

Geographical segmentation and analysis of the vacuum contactors market

Americas
APAC
EMEA

This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the market throughout the forecast period. The rise in number of offshore wind farms and the ongoing construction of new power projects, will propel the need for vacuum contactors in this region.

Key questions answered in the report include

What will the market size and the growth rate be in 2021?
What are the key factors driving the global vacuum contactors market?
What are the key market trends impacting the growth of the global vacuum contactors market?
What are the challenges to market growth?
Who are the key vendors in the global vacuum contactors market?
What are the market opportunities and threats faced by the vendors in the global vacuum contactors market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global vacuum contactors market?

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