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. The Global Contactors Market is expected to grow at a CAGR of 7.53% during the forecast period.
The global contractors market has been analyzed based, voltage, end-users and regions. Based on voltage, it is classified as, low voltage and medium voltage and based on end-users, it is further classified as building & construction industry, chemicals & petrochemicals industry, foods & beverages industry, metals & mining industry and other industries.
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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).
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.
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Table Of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Contactors Market, By Voltage
4.2 Medium Voltage
4.3 Low Voltage
5 Global Contactors Market, By End-User
5.2 Building & Construction Industry
5.3 Chemicals & Petrochemicals Industry
5.4 Foods & Beverages Industry
5.5 Metals & Mining Industry
5.6 Other Industries
6 Regional Market Analysis
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