Electricity is one of the primary demands of humans on earth. Along with the reliable and stable operation of the electrical, safety of electrical infrastructure is critical. Vacuum contactor is an electrically controlled switch that is used to make or break an electrical circuit with the help of vacuum interrupter, relay, and fuse. This switch is used in motor starters, switchgear, and control gear of medium voltage fast switching devices motor starters, switchgear, and control gear of medium voltage fast switching devices. In addition, it is widely used in heating, ventilation, and air conditioning (HVAC) systems, as refrigeration, cooling, and ventilation equipment require an AC motor system. Contactors are designed to be directly connected to high-current load devices.
Key drivers of global vacuum contactor market
Rapid increase in energy consumption and distribution has significantly boosted the growth of the global vacuum contactors market. Electricity is a fundamental human need on earth. In diverse production plants throughout industrial verticals, the demand for vacuum contactors is therefore rising notably. In addition, surge in demand for technological yet innovative contactors is expected to further drive the growth of the global vacuum contactor market. Market scenario: opportunities and challenges
Growing prospects and improvements in processing, manufacturing, industrial, and large commercial complexes using HVAC systems is expected to significantly contribute toward the growth of the global vacuum contactor market in near future. In addition, the demand for vacuum contactor is influenced by the need to minimize machine power, as it helps to control power consumption and to prevent sudden load fluctuations in the motor. The power utilities and other industries therefore increasingly deploy vacuum contactors to secure the machinery linked to an electrical circuit and to ensure the reliability of the entire system. However, the volatility in the price of raw materials impedes the market growth. Moreover, the slow upgradation of previously installed power infrastructure has a detrimental impact on the vacuum contactor market.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global vacuum contactor market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown. In addition, recent decline in industrial activities is one of the key factors that is likely to negatively impact the growth of vacuum contactor market. Moreover, companies are dealing with missing sales and disrupted supply chains, as production activities are shutdown.
Key benefits of the report
- This study presents the analytical depiction of the global vacuum contactor industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vacuum contactor market share.
- The current market is quantitatively analyzed to highlight the global vacuum contactor market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global vacuum contactor market research report
- Which are the leading market players active in the vacuum contactor market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Vacuum Contactor Market Report Highlights
By End User
Key Market Players
Mitsubishi Electric (Japan), ABB (Switzerland), Rockwell Automation (US), Siemens (Germany), Crompton Greaves (India), Eaton Corporation (Ireland), Schneider Electric (France), Toshiba Corporation (Japan), General Electric (US), Larsen & Toubro (India)