The Global Contactors Market is expected to grow at a CAGR of 7.53% during the forecast period. 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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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. 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.
Currently, the Contactors Market is in the growth stage. This is due to the increase in demand for power, global initiatives to use more renewable and non-conventional energy sources, smart distribution grids and the global need to upgrade transmission & distribution grids which will safeguard the system from fluctuating load is expected to boost the global contactors market. Currently, Asia-Pacific region is the leading market for Contactors Market and is followed by North-America.
The global contactors market is segmented on the basis of voltage, end-user, and region.
On the basis of voltage, the industry is classified into medium voltage and low voltage.
On the basis of end-user, the market is segmented into building & construction industry, chemicals & petrochemicals industry, foods & beverages industry, metals & mining industry and other industries
Based on region, the global contactors market cover growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World.
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) and Eaton Corporation PLC (Ireland).
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
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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
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