According to the new market research report by IndustryARC titled “Vacuum Contactor: By Type (<5kV, 5-10kV, 10-15kV, >15kV); By Solubility (Motors, Transformers, Others); By End User (Utilities, Industrial, Oil & Gas, Others) & By Region (Europe, North America, Asia-Pacific, RoW)-Forecast (2018-2023)”, the market is driven by growing number of transmission and distribution networks, thereby leading to the deployment of substations.
Browse 65 Market Tables, 177 Figures spread through 151 slides and an in-depth TOC on “Vacuum Contactor Market (2018 - 2023)”
Asia Pacific to have a major share in the Vacuum Contactor Market
Asia Pacific will dominate the Vacuum Contactor Market during the forecast period. It is expected to reach a revenue of $1,561.11 million by 2023 at a CAGR of 7.8%. In China, the growing power generation and distribution sectors along with the rising power demand in the manufacturing industries drives the growth of the Vacuum Contactor Market. In India, agriculture is the major electric consumer in the country. Growing use of devices such as motors and transformers drives the market in the coming years. In Japan, the high-performance vacuum contactor unit are used in the AC power lines in smart energy.
Selected Analysis done in the full Report:
In 2017, the Utilities sector reached a revenue of $843.27 million. It will reach a revenue of $1,187 million at a CAGR of 5.9% by 2023. The sector consists of power generation, telecommunications, waste water treatment and other services. Vacuum contactors are needed in industries which need reliable power switching and motor starting solutions to supply electricity all the time to prevent a breakdown. They can be used for medium voltage power distribution. Low voltage vacuum contractors have features to ensure east of maintenance, versatility, and reliability.
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Excerpts on Market Growth Factors
Increasing demand for power driven devices in end user industries will enhance the growth of the electric motor contactor in the coming years.
Measures taken to upgrade the ageing infrastructure and growing demand for efficient power transmission.
Growth of the HVAC systems will drive the demand for the power contactor in the future.
Growing investments for developing public lighting systems to improve road traffic safety spurs the demand for vacuum contactors.
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Key players of the Vacuum Contactor Market
Eaton and Siemens AG dominate the Vacuum Contactor Market in the coming years followed by ABB, Schneider, and Larsen. Eatson manufactures products such as circuit breakers, UPS systems, switch gear, motor controls, and load centres. Siemens AG is involved in business segments such as power and gas, wind power and renewables, energy management, and building technologies. ABB manufactures IEC indoor vacuum contactors which control electrical apparatus in the industry. Schneider produces TeSys D, TeSys F, TeSys K, TeSys B as contactors under industrial automation. Larsen offers products such as 1 & 3 Phase Distribution Transformer Meter.
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