The Europe Vacuum Contactor Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 905.8 thousand units, showcasing a growth of 6.1% (2019-2022).
Advancements in this technology have led to improved safety features and compliance. As the demand for electrical safety and quality grows, manufacturers have invested in research and development to enhance their safety and reliability. Features such as arc quenching, short-circuit protection, and overcurrent monitoring have become standard in modern designs. This development aligns with the stringent electrical equipment regulations and standards, ensuring that vacuum contactors adhere to industry-specific safety requirements.
The market's growth has also been significantly influenced by the ongoing expansion of infrastructure in developing and emerging economies. Rapid urbanization and industrialization have necessitated the development of extensive power generation and distribution networks, which, in turn, have increased the demand for high-voltage electrical equipment, including vacuum contactors. Recent trends in the market indicate that manufacturers are focusing on producing products that can handle higher current and voltage levels, catering to the demands of these growing infrastructure projects.
Europe has a strong industrial base that includes manufacturing, automotive production, and heavy machinery sectors. According to Eurostat, the EU's manufacturing output has been growing rapidly. Industrial production of the EU increased by 8% in 2021 compared to 2020 and has since maintained an upward trend, growing by 5% in 2022 compared to 2021. Following Germany, which had the highest production value sold at 26% of the EU's total, were Italy (19%), France (11%), Spain (8%), Poland (6%) and the Netherlands (4%). As industries evolve and modernize, vacuum contactors are expected to play a central role in ensuring electrical systems and equipment safety and efficiency, further driving their demand in Europe.
The Germany market dominated the Europe Vacuum Contactor Market by Country in 2022; thereby, achieving a market value of $368.6 million by 2030. The UK market is exhibiting a CAGR of 4.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6.4% during (2023 - 2030).
Based on Configuration, the market is segmented into Contactor Fuse Combination, and Contactor. Based on Voltage Rating, the market is segmented into 1KV - 5KV, 5.1KV - 10KV, 10.1KV - 15KV, and 15.1KV - 24KV. Based on Application, the market is segmented into Motors, Transformers, Capacitors & Reactors, Resistive Loads, and Others. Based on End User, the market is segmented into Utilities, Industrial, Oil & Gas, Commercial, Mining, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Vacuum Contactor Market will Hit $6.2 Billion by 2030, at a CAGR of 6.2%
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
By Configuration (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Voltage Rating (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Application
By End User (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Country (Volume, Thousand Units, USD Billion, 2019 to 2030)
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