hi

Vacuum Contactor Market 2021: Growth, Strategic Analysis, and Business Size, Global Share Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Vacuum Contactor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Vacuum Contactor Market products.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10076300

Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The Vacuum Contactor Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Product Overview
A vacuum contactor is an electrical device that is used for load breaking with 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 enclosed inside a vacuum bottle, which prevents the development of arc when there is a voltage fluctuation. Some of the prominent applications of vacuum contactors are in (3-phase or 4-phase AC motors) capacitors and transformers usually used for voltage fluctuation protection and short-circuit prevention. The increase in power consumption and various delivery channels has stimulated the demand for vacuum contactor.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10076300

Market Size and Forecast
The global vacuum contactor market will grow from an expected value of USD 6.7 Billion by 2027 with a CAGR of 8.2% from 2017 to 2027. The increasing requirement for enhancing productivity and efficiency of equipment in industries will be one of the key factors in the vacuum contactors market. Modernization of plant & facilities to integrate automation has become an important part of various manufacturing units. The use of technically developed equipment and various control technologies result in efficient and quicker processes.

The global vacuum contactor market can be segmented on the basis of product type, poles type, voltage and application type. The market is segmented on the basis of application, it is segmented into Power, Mining, marine and oil and gas. Vacuum contract are used in many power switching applications such as water pumping, blowers, conveyors and other power switching applications. The rapidly rising distribution of globally, the number of substations will keep on increasing. This process will further boost the demand for vacuum contactor.

By region, global vacuum contactor market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia Pacific dominated the vacuum contactor market. Asia Pacific is anticipated to have the fastest growth rate, on the account of rapidly increasing number of transmission and distribution substations, rapid industrialization, rising power demand and urbanization in developing nations such as China and India in this region. The growing industrialization in some of the countries of North America is also fuelling the demand of vacuum contactor.

Market Segmentation
Our in-depth analysis segmented the global vacuum contactor market in the following segments:

By Product Type
AC Contactor
Reversing AC Contactor
Special Purpose AC Contactor
Latched Contactor
CV Contactor

By Poles Type
One Pole
Two Pole
Three Pole

By Voltage Type
Low Voltage
Medium Voltage
High Voltage

By Application Type
Power Generation
Mining
Marine
Oil and gas

By Region
Global vacuum contactor market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10076300

Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges

Development of efficient and innovative technology, increasing street lighting system, growing demand of HVAC systems across the globe and increasing awareness of to reduce electricity usage are some of the growth drivers of the vacuum contactor market. The increase in demand of circuit breaker in industrial use has parallely regulated the demand for vacuum contactors in various industries. There is a huge demand for power-driven devices in production and manufacturing industries. As a result, the demand for vacuum contactors will increase on the account of their effectiveness in controlling voltage fluctuations. The sustainability and manageability of vacuum contactors has fuel the demand for this product all over the globe.

However, there are certain restraining factors associated with vacuum contactor such as loss of vacuum in the vacuum contactor and they are costlier as compared to conventional systems.

Key Players
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.
LSIS Co. Ltd

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10076300

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us
Kenneth Research
Email: Sales@kennethresearch.com
Phone: +1-(347)-627-0064,+1 313 462 0609

James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology

Leave a Reply