Global Vacuum Contactor Market Projected to Worth USD 6.7 Billion by 2027|Siemens AG & Toshiba International Corporation
The vacuum contactor is electrically controlled and with the help of a vacuum interrupter, relay and fuse is used to make or break an electrical circuit. Vacuum contractor is used for switching operations of single phase and three phase circuits and motors etc. Vacuum contactor is utilized in motor starters, switchgear, and control gear operates on medium voltage. The global vacuum contactor market can be segmented on the basis of product type, poles type, voltage and application type. On the basis of product type, it is segmented into AC Contactor, Reversing AC Contactor, Special Purpose AC Contactor, Latched Contactor and CV Contactor. On the basis of pole type, it is segmented into One Pole, Two Pole and Three Pole. On the basis of voltage type, it is segmented into low voltage, medium voltage and high voltage. On the basis of application type, it is segmented into power generation, mining, marine and oil and gas. Power generation segment is anticipated to be the fastest growing segment on the account of usage of vacuum contactor in transmission, distribution, power generation substations.
The global vacuum contractor market is anticipated to grow at a CAGR around 8.2% during 2017-2027 and will reach around 6.7 Bn by 2027. Technological advancement and high demand for power driven devices is expected to boost the global vacuum contract market.
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The Asia-Pacific region holds the largest share in global vacuum contactor market. The Asia-Pacific Vacuum Contactor Market is driven by increasing number of transmission and distribution line substations especially in the South East Asian region. The other major drivers include increasing demand for power, industrialization, urbanization and rapid development in the commercial sector in countries such as China, India, Japan, and South Korea.
Rising demand from power generation will fuel the market of vacuum contactor
The interest of vacuum contactors from power age industry is expanding as they are basically utilized in power age, transmission, and appropriation substations of intensity organizations. The Application of vacuum contactors additionally includes water pumping, blowers, transports and other power exchanging applications. The ascent in transmission and distribution network all across the world is expanding the quantity of substations. This will additionally help the market development.
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Global Trends Will Further Boost the Market Growth
The prevalent use of HVAC systems in manufacturing industry is anticipated as a major trend driving the need for quality vacuum contactors. The mechanical advancements which are convincing the need to create engines, transformers and capacitors are bringing about more noteworthy use of vacuum contactors across the world. The wide growth of automotive and electric motor market has resulted in increased demand for vacuum contactors.
The report titled “Vacuum Contactor Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the Global Vacuum Contactor Market in terms of market segmentation by application type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the Global Vacuum Contactor Marketwhich includes company profiling of key companies such as Siemens AG, Mitsubishi Electric Corporation, ABB Group, Toshiba International Corporation, Crompton Greaves Limited, Dynapar Corporation & Superior Electric Holding Group LLC, General Electric Company, Schneider Electric SE, Rockwell Automation, Inc., and LSIS Co. Ltd. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the Global Vacuum Contactor Marketthat is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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