Market Overview

Contractor is an electrically controlled switch used for switching an electric power circuit. It comprises three parts, namely Contacts as the current carrying component, electromagnet as the driving force to close the contacts, and enclosure is a frame enclosing the contact and electromagnet. Vacuum contactors utilize vacuum bottle encapsulated contacts. Vacuum contractors are widely used at medium voltages i.e. 1000 V-5000V, as effective circuit breakers in various applications. Vacuum contactors are only applicable for use in AC systems. These contactors are used in conveying and elevator systems, pumping stations, air conditioning systems, as well as in systems for reactive power compensation, and can therefore be found in almost every industrial sector.

Vacuum contactors are very efficient at disrupting the energy of an electric arc and are used when relatively fast switching is required, as the maximum break time is determined by the periodicity of the AC waveform. For example, in the case of 60HZ power (U.S. standard), the power will discontinue within 1/120 or 0.008333 of a second. Medium voltage vacuum contactors are load breaking devices with a limited short-circuit making and breaking capacity for applications with high switching rates of up to 1 million operating cycles.

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Market Dynamics

Asia Pacific is the largest and fastest-growing market for the medium voltage vacuum contactors, owing to the growing electrical equipment and power generation sectors in the region. Asia Pacific encompasses some of the fast-growing economies such as China, India, and Japan, that will majorly contribute in the growth of Medium Voltage Vacuum Contactors. India is will majorly contribute to the medium voltage vacuum contactors market in the region, owing to the growth in its growing power sector. For instance, according to May 2018 report by India Brand Equity Foundation, India ranked fifth in the world for its power generation capacity. In May 2018, India ranked fourth in the Asia Pacific region, out of 25 nations on an index that measures overall power. Electricity production in India reached 1,201.543 Billion Units (BU) during 2018, accounting for 55.72% growth, compared to that in 2017. Medium voltage vacuum contactors are favoured in typical load equipment, such as transformers, which is majorly used in the power sector. Thus, growth of the power sector in Asia Pacific in turn, is expected to fuel grow of the medium voltage vacuum contactors, over the forecast period.

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Some of the key players operating in the medium voltage vacuum contactor are Eaton, ABB, Toshiba, Siemens, General Electric, Joslyn Clark, Mitsubishi Electric, Arteche, and Tavrida Electric.

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