The Global Vacuum Contactor Market size is expected to reach $6.2 billion by 2030, rising at a market growth of 6.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 5,644.8 thousand units, experiencing a growth of 6.4% (2019-2022).
The oil and gas industry employs vacuum contactors in drilling rigs and exploration equipment. They are used to control and switch electrical circuits for equipment like drilling pumps and winches. Therefore, the oil & gas segment captured $733.5 million revenue in the market in 2022. These are employed at various stages of the extraction as well as processing of oil and gas, including the control of pumps, compressors, and conveyors in petrochemical and refinery facilities. The oil and gas industry frequently works in dangerous or explosive conditions. Some of the factors impacting the market are rising focus on renewable energy and industrial automation, development of new and aging infrastructure by governments, and competition from alternative switching technologies.
The rising focus on renewable energy is driven by heightened environmental concerns related to climate change and air pollution, which have prompted governments, industries, and consumers to seek cleaner energy alternatives. Renewable energy sources, such as wind, solar, and hydropower, offer a lower carbon footprint, making them pivotal in mitigating the environmental impact of traditional fossil fuels. Furthermore, the decreasing cost and increasing efficiency of renewable technologies have made them economically viable. In the context of infrastructure development, government investments in transportation, energy, and digital infrastructure projects often require the installation of vacuum contactors for precise motor control, electrical switching, and overall system reliability. As governments globally prioritize infrastructure development and the maintenance of existing assets, their demand for remains robust, contributing to their steady growth in the market.
However, in recent years, solid-state solutions and digital contactors have emerged as strong competition for vacuum contactors. The solid-state solutions utilize semiconductor devices like thyristors and insulated gate bipolar transistors (IGBTs) to achieve electrical switching. They offer benefits such as precise control, reduced maintenance requirements, and energy efficiency. Solid-state contactors have no moving parts and can operate silently, which can be appealing in various applications. As energy efficiency becomes a priority in many industries, solid-state contactors are favored for minimizing energy losses during switching operations. Thus, the emergence of alternate switching technologies is hampering the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ampcontrol Limited (Washington H. Soul Pattinson and Company Limited), Yueqing Liyond Electric Co., Ltd., Zhiyue Group Co., Ltd, ABB Group, Siemens AG, Eaton Corporation PLC, Schneider Electric SE, Rockwell Automation, Inc., Fuji Electric Co. Ltd., and Toshiba Corporation
The oil and gas industry employs vacuum contactors in drilling rigs and exploration equipment. They are used to control and switch electrical circuits for equipment like drilling pumps and winches. Therefore, the oil & gas segment captured $733.5 million revenue in the market in 2022. These are employed at various stages of the extraction as well as processing of oil and gas, including the control of pumps, compressors, and conveyors in petrochemical and refinery facilities. The oil and gas industry frequently works in dangerous or explosive conditions. Some of the factors impacting the market are rising focus on renewable energy and industrial automation, development of new and aging infrastructure by governments, and competition from alternative switching technologies.
The rising focus on renewable energy is driven by heightened environmental concerns related to climate change and air pollution, which have prompted governments, industries, and consumers to seek cleaner energy alternatives. Renewable energy sources, such as wind, solar, and hydropower, offer a lower carbon footprint, making them pivotal in mitigating the environmental impact of traditional fossil fuels. Furthermore, the decreasing cost and increasing efficiency of renewable technologies have made them economically viable. In the context of infrastructure development, government investments in transportation, energy, and digital infrastructure projects often require the installation of vacuum contactors for precise motor control, electrical switching, and overall system reliability. As governments globally prioritize infrastructure development and the maintenance of existing assets, their demand for remains robust, contributing to their steady growth in the market.
However, in recent years, solid-state solutions and digital contactors have emerged as strong competition for vacuum contactors. The solid-state solutions utilize semiconductor devices like thyristors and insulated gate bipolar transistors (IGBTs) to achieve electrical switching. They offer benefits such as precise control, reduced maintenance requirements, and energy efficiency. Solid-state contactors have no moving parts and can operate silently, which can be appealing in various applications. As energy efficiency becomes a priority in many industries, solid-state contactors are favored for minimizing energy losses during switching operations. Thus, the emergence of alternate switching technologies is hampering the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Configuration Outlook
Based on configuration, the market is segmented into contactor and contactor fuse combination. The contactor segment witnessed a substantial revenue share in the market in 2022. Contactors provide electrical isolation, allowing for the controlled opening and closing of electrical circuits. In safety-critical applications, contactors can be integrated into interlock systems that ensure conditions are met before a circuit can be closed. This enhances safety in industrial environments. Contactors are known for their reliable and repeatable operation, making them dependable for critical processes and applications.Application Outlook
Based on application, the market is characterized into motors, transformers, capacitors & reactors, resistive loads, and others. The transformers segment procured a considerable growth rate in the market in 2022. Power distribution systems frequently employ transformers to step down or step up voltage levels as required for transmission and distribution. They ensure efficient electricity transfer from power stations to end-users. They help optimize transformer performance, reducing energy losses and improving the overall efficiency of power distribution systems.
Voltage Rating Outlook
On the basis of voltage rating, the market is classified into 1KV – 5 KV, 5.1 KV – 10 KV, 10.1 KV – 15 KV, and 15.1 KV – 24 KV. The 10.1 KV – 15 KV segment witnessed a significant revenue share in the market in 2022. They are essential for medium-high voltage applications in industrial and commercial settings. These contactors improve power distribution in medium-high voltage systems, ensuring reliable and efficient electricity transfer. Vacuum contactors in this range are designed to meet international standards for medium-high voltage equipment. Compliance with industry-specific regulations and standards ensures safety and quality.End User Outlook
By end user, the market is divided into utilities, industrial, oil & gas, commercial, mining, and others. The utilities segment garnered the maximum revenue share in the market in 2022. Utilities often use vacuum contactors in substation equipment to control transformers, capacitors, and other electrical devices. These contactors facilitate the switching of these components to optimize voltage levels and manage power distribution efficiently. The trend toward urbanization, with more people moving to cities and urban areas, places additional pressure on utilities. Urban environments require extensive utility networks to support the concentrated population.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered the largest revenue share in the market in 2022. A rapidly expanding industrial sector can be found in Asia Pacific. Expanding manufacturing, mining, and other industrial activities requires reliable and efficient electrical control solutions, making vacuum contactors essential for motor control and switching applications. The increasing rate of urbanization in many countries across the region has led to the development of infrastructure, including commercial and residential buildings. These are used for HVAC systems, lighting control, and power distribution in these structures.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ampcontrol Limited (Washington H. Soul Pattinson and Company Limited), Yueqing Liyond Electric Co., Ltd., Zhiyue Group Co., Ltd, ABB Group, Siemens AG, Eaton Corporation PLC, Schneider Electric SE, Rockwell Automation, Inc., Fuji Electric Co. Ltd., and Toshiba Corporation
Strategies deployed in the Market
- Jul-2023: Siemens AG signed an agreement to acquire the EV division of Mass-Tech Controls Private Limited, a Fronius battery manufacturer. The acquisition would strengthen Siemens's e-mobility business segment and enhance its sustainability solutions portfolio.
- Jun-2023: Siemens AG announced the launch of LV Insights X software, a part of Siemens Xcelerator portfolio, used for increasing grid capacity by increasing the feed of decentralized renewable energy. Through the software, the grid operators would be able to reduce the grid outage time by 30 percent and increase the grid capacity by identifying critical segments.
- Feb-2023: Siemens AG came into partnership with EnergyHub, an American software company, to develop next-gen DER management solutions. The combined expertise of the two companies would enable the utilities to reach net zero by utilizing DERs. Additionally, the user would also benefit from DER flexibility and advanced power grid resilience.
- Nov-2022: ABB Group released VD4 EVO, a digital medium voltage vacuum circuit breaker. The VD4 EVO features Industry 4.0 level sensor modifications for mechanical, thermal, and electrical parameters. Additionally, it is capable of round-the-clock real-time analytics.
- Oct-2022: Siemens AG partnered with Eplan, a software company, to develop optimized solutions for electrical planners and switchgear manufacturers. The combined expertise of the two companies would enable efficient workflows for electrical planners and switchgear manufacturers.
- Aug-2022: Schneider Electric SE announced a partnership with Hitachi Energy, a grid automation solutions provider, to provide energy transition solutions to their joint customers. The partnership would enable the customers to tackle their most challenging energy issues through the use of green energy.
- Jan-2022: Eaton Corporation PLC took over Royal Power Solutions, a manufacturer of high-precision electrical connectivity components manufacturer. Through the acquisition, Eaton would be able to grow its aerospace, mobility, and electrical businesses.
Scope of the Study
Market Segments Covered in the Report:
By Configuration (Volume, Thousand Units, USD Billion, 2019 to 2030)- Contactor Fuse Combination
- Contactor
- 1KV - 5KV
- 1KV - 10KV
- 1KV - 15KV
- 1KV - 24KV
- Motors
- Transformers
- Capacitors & Reactors
- Resistive Loads
- Others
- Utilities
- Industrial
- Oil & Gas
- Commercial
- Mining
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Ampcontrol Limited (Washington H. Soul Pattinson and Company Limited)
- Yueqing Liyond Electric Co., Ltd.
- Zhiyue Group Co., Ltd
- ABB Group
- Siemens AG
- Eaton Corporation PLC
- Schneider Electric SE
- Rockwell Automation, Inc.
- Fuji Electric Co. Ltd.
- Toshiba Corporation
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Vacuum Contactor Market by Configuration
Chapter 6. Global Vacuum Contactor Market by Voltage Rating
Chapter 7. Global Vacuum Contactor Market by Application
Chapter 8. Global Vacuum Contactor Market by End User
Chapter 9. Global Vacuum Contactor Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Ampcontrol Limited (Washington H. Soul Pattinson and Company Limited)
- Yueqing Liyond Electric Co., Ltd.
- Zhiyue Group Co., Ltd
- ABB Group
- Siemens AG
- Eaton Corporation PLC
- Schneider Electric SE
- Rockwell Automation, Inc.
- Fuji Electric Co. Ltd.
- Toshiba Corporation
Methodology
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