Market Research Analysis:
Medium voltage segment of contractors is expected to grow at the highest rate in the contactors market from 2017-2023.
The industrial usage of medium contactors currently holds a large share of total volume of contactors and is expected to dominate the market during forecast period. Growing application of medium voltage contactors in industries where it is well suited for heavy duty applications and harsh environment including metals & mining industry, chemicals & petrochemicals industry and others. Medium voltage contractors are majorly used in applications that have larger current requirements and high operations counts. Medium voltage contractors are compact, electrically maintained and used to efficiently protect and control motors, transformers and breakers for many different applications. The increase in industrial development across the globe leading to the wide application of small and medium voltage contactors in industries for safe operations, will further enhance the industrial contactors market during the forecast period.
Contactors are electrical controlled switch used for switching an electrical power circuit with higher current ratings. Growing application of medium voltage contactors in industries where it is well suited for heavy duty applications and harsh environment including metals & mining industry, chemicals & petrochemicals industry and others.
The constant need for electricity, the growing need for efficient and effective load management and the need of renewable energy to be connected to the grid will aid in the growth of the contactors market over the forecast period. However, the high cost of contactors and high level of intricacy involved in the design for module level protection will restrain the contactors market globally.
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The key players of global Contactors market are-
- ABB Group (Switzerland)
- Siemens Ltd. (Germany)
- General Electric Company (USA)
- Crompton Greaves Ltd. (India)
- Rockwell Automation (USA)
- Schneider Electric (France)
- Mitsubishi Electric Corporation (Japan)
- L&T Electrical & Automation (India)
- Toshiba Corporation (Japan)
- Eaton Corporation PLC (Ireland)
Scope of the Report:
This study provides an overview of the global contactors market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global contactors market by its type, by end-user and by regions.
- Medium Voltage
- Low Voltage
- Building & Construction Industry
- Chemicals & Petrochemicals Industry
- Foods & Beverages Industry
- Metals & Mining Industry
- Other Industries
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- North America
- Asia Pacific
- Rest of the World