Global Vacuum Contactors Market 2017-2021
About Vacuum Contactors
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.
Technavio’s analysts forecast the global vacuum contactors market to grow at a CAGR of 7.03% during the period 2017-2021.
Covered in this report
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.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vacuum Contactors Market 2017-2021
Technavio recognizes the following companies as the key players in the global vacuum contactors market: ABB, GE, Siemens AG, Schneider Electric, and Toshiba.
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.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological development for increasing efficacy of motors. Improvement in technology in 3-phase and 4-phase AC motors has increased the need for enhanced contactors. AC motors have gained high demand for various applications, which need speed variation and greater torque control. The technological improvement in applications, such as capacitors and transformers, has prompted vendors to improve the working of vacuum contactors to enhance the performance of the equipment in electricity networks.”
According to the report, one driver in the market is increasing replacement of air break contacts with vacuum contactors. Vacuum contactors operate through contacts that are encapsulated inside vacuum bottles. These contacts inside vacuum bottles suppress arc formation. The contacts used in vacuum contactors are smaller than air contactors. Air contactors are affected by environmental changes. In harsh environmental conditions in industries such as oil and gas, chemical, petrochemical, and mining the use of air contactors increases the chance of fire and network breakdown. Equipment and machine breakdown ultimately increases the downtime, affecting industrial manufacturers with a significant loss.
Further, the report states that one challenge in the market is downturn in mining industry. The downturn in the mining industry is posing a major threat to the global vacuum contactor market. The mining industry has witnessed a steep decline in price over the past 5 years, starting from 2013. The fall in price is observed due to the decreasing demand from Asian countries, especially from China and fall in investments and reduction in new mining projects in Australia. The strengthening of the US dollars has further reduced the greenfield and brownfield investments in the mining industry. The soaring capital spending on new mining projects has made the market more challenging for the overall industrial growth.
ABB, GE, Siemens AG, Schneider Electric, Toshiba, Eaton, Rockwell Automation, LS Industrial Systems, Specialty Product Technologies (Joslyn Clark), Ampcontrol, CIRCUTOR, CG, Ross Engineering, HUANYU GROUP, and GREEGOO Electric.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook