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Global vacuum contactor market tops 7% CAGR

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Global vacuum contactor market tops 7% CAGR

Vacuum contactors, used in power plants and substations, are seen to grow from an estimated market value of $3.43 billion in 2015 to over $4.81 billion by 2020. MarketsandMarkets analysts reckon that a large number of transmission and distribution line upgrades, particularly in Asia Pacific, will spur 7.04% cumulated annual growth rates (CAGR).

Latest analysis looks at the market for vacuum contactors by voltage (<5kV, 5-10kV, 10-15kV, >15kV), by application such as motors, capacitors, transformers, reactors, resistive loads as well as by end-user, notably utilities, industrial, commercial, oil & gas and mining.

Largest market in Asia-Pacific

The Asia-Pacific region holds the largest market for vacuum contactor, driven largely by the number of transmission and distribution line upgrades and developments especially in the South East Asian region.

Other major drivers include increasing power demand, industrialization and urbanization, and rapid development in the commercial sector in countries such as China, India, Japan, and South Korea.

Utilities: Biggest market by application

Vacuum contactors are mostly used in power plants, transmission, and distribution substations of 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,” analysts said, suggesting “this increasing number of substations would further increase the use and demand of vacuum contactors.”

The vacuum contactor industry is fragmented and offers several opportunities for consolidation and growth in efficiency through an increase in economies of scale. The industry has low entry and exit barriers, which acts as a driver for the vacuum contactor market.

Top players of the vacuum contactor market are Swiss-based ABB, Eaton Corp of Ireland, France-headquartered Schneider Electric, Mitsubishi Electric Corp of Japan and Germany’s Siemens.


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