Contactors Market Overview, Top Key Players and Growth Analysis by Forecast to 2023
Market Highlights A contractor is an electrically controlled switch used for converting an electrical power circuit, similar to a relay excluding with higher current ratings and limited differences. Contactor is typically controlled by a circuit which has a much lower power level than the switched circuit. 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 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. Contactors Market is expected to grow over the CAGR of around 7.53% during the period 2017 to 2023. 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. Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4143 Key Players: 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).
A contractor is an electrically controlled switch used for converting an electrical power circuit, similar to a relay excluding with higher current ratings and limited differences. Contactor is typically controlled by a circuit which has a much lower power level than the switched circuit. 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. Asia-Pacific region is expected to grow at the fastest rate Rapid urbanization & industrialization in countries such as China, India, Indonesia and Australia demand continuous electric supply for the operations of building & construction industry, chemicals & petrochemicals industry, foods & beverages industry, metals & mining industry and other industries. Ageing conventional transmission & distribution network often hinders the supply for continuous power. This is creating a lucrative market for contractors in this region. 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.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/contactorsmarket-4143 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. By Voltage Medium Voltage Low Voltage By End-User Building & Construction Industry Chemicals & Petrochemicals Industry Foods & Beverages Industry Metals & Mining Industry Other Industries By Regions North America Asia Pacific Europe Rest of the World About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact:
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