PUBLISHER: Grand View Research | PRODUCT CODE: 1552544
PUBLISHER: Grand View Research | PRODUCT CODE: 1552544
"2030 vacuum contactor market value to reach USD 6.65 billion."
The global vacuum contactor market size was estimated at USD 4.26 billion in 2023 and is estimated to grow at a CAGR of 6.6% from 2024 to 2030. Rising need for energy efficiency in industrial applications is expected to benefit the market growth over the coming years.
Rising urbanization and industrial expansion has increased the energy usage in the last few years. Industries are continuously seeking ways to reduce energy consumption and improve operational efficiency, and vacuum contactors play a vital role in controlling electric motors and reducing electrical loads. Their ability to minimize power loss and optimize energy use contributes significantly to their demand.
Global Vacuum Contactor Market Report Segmentation
This report forecasts revenue growth at global, country, and regional levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global vacuum contactor market report on the basis of application, end use, and region: