Global Vacuum Contractor Market

Description

Introduction

Vacuum Contractors are electromagnetically triggered switches with the primary objective of protecting the system or equipment from sudden voltage or current surges which might adversely affect the operations of the concerned system or equipment. These switches will return to their rest position when the control circuit is opened. The contractors are designed to ensure that current levels above a rated limit are carried across for a brief period. A typical contractor has a main contact and two auxiliary contacts. When a surge in supply is experienced, the contacts separate and metal vapor discharge occurs until the supply is withdrawn.

Market Dynamics

The primary driver for the growth of the global vacuum contractor market is the surge in the demand for Heating, ventilation and Air Conditioning (HVAC) units in short term as well as long term. These units require VCs to protect them against power surges. Another critical factor that drives the growth of the market is the movement towards reduced power usage in machinery. VCs are used to prevent sudden increase in the load during operations of various machineries. However, with the increasing demand of the VCs, the prices have also increased which acts as a restraint for the growth of the market. Another inhibitor for the growth of the market is over compression caused due to loss of vacuum. Over compression leads to operational inefficiencies and therefore acts as a deterrent for VCs. The market faces challenges in the form of low cost and low quality substitutes available and therefore, hampers with business of established players with quality offerings. Another challenge for the market is the slowdown in the Chinese mining industry due to which the demand for VCs is getting reduced. The market also provides opportunities in the form of replacement of oil based VCs. With increasing technological advancements new products are available and are compelling the users to move away from the traditional oil based VCs.

Market Segmentation

The global vacuum contractor market can be segmented by voltage rating, by application, by sector and by region. By voltage rating, the market can be divided into low voltage VC, medium voltage VC and high voltage VC. By application, segmentation of the market includes Motors, Transformers, Capacitors, Reactors, Resistive Loads and Other medium voltage Equipment. By sector, the market is segmented into Utilities, Industrial, Oil and Gas, Commercial, Mining and others. By region, segmentation of the market includes North America, Europe, Asia-Pacific and Middle East and Africa.

Geographical Analysis

Asia-pacific dominates the global vacuum contractor market with the biggest market share and is expected to grow at a highest CAGR among other regions. This growth can be associated with the growing urbanization and industrialization in the region. China is a significant player in the market because of its increasing need for mining equipment to sustain growth through mineral extraction, and vacuum contractors play a vital role in the mentioned equipment. North America and Europe are expected to increase their market share owing to grid modernization and replacement market for aging infrastructure.

Key Players

The significant players in the global vacuum contractors market are ABB Ltd., General Electric, Siemens AG, Schneider Electric, Toshiba, Eaton Corporation PLC, Rockwell Automation, LS Industrial Systems, Specialty Product Technologies, Ampcontrol, Circutor, CG, Ross Engineering, Huanyu Group, GREEGO Electric, Larson & Toubro, Westinghouse and Fuji Electric.