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. It is mainly found in motor starters, switchgear and control gear of medium voltage fast switching devices. The vacuum contactors are used for those applications that require low to moderate continuous load current, very frequent switching operations, and very high endurance.
The Global Vacuum Contactor Market will grow from an estimated value of USD 3.43 Billion in 2015 to USD 4.81 Billion by 2020 with a CAGR of 7.04% from 2015 to 2020.Growth in the related as well as complementary markets, such as motors, capacitors, switchgear, and transformer, also contribute towards the growth of vacuum contactors.
Vacuum contactors are mostly used in power plants, transmission, and distribution substations of power utility companies. They are used for blowers, water pumping, conveyors, capacitor switching, and other power switching applications. With the growing transmission and distribution network across globe, the number of substations will keep on increasing. This increasing number of substations would further increase the use and demand of vacuum contactors.
Key Market Drivers:
♦ Robust Growth in HVAC Systems Worldwide
♦ Increasing Awareness to Save Electricity by Integrating Power Factor Correction Devices to the Electrical Network
♦ Development in Public Lighting System
♦ Utilities Sector
♦ Industrial Sector
♦ Oil & Gas Sector
♦ Commercial Sector
♦ Mining Sector
The Leading Market Players of the Vacuum Contactor Market are ABB Ltd. (Switzerland), Eaton Corporation Plc. (Ireland), Schneider Electric SE (France), Mitsubishi Electric Corporation (Japan), and Siemens AG (Germany).