Regional Analysis

Medium Voltage Vacuum Contractors: Regional Insight

The market for medium voltage vacuum contractors is segmented on the basis of six regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

Asia Pacific is the largest and fastest-growing market for the medium voltage vacuum contactors, owing to the growing electrical equipment and power generation sectors in the region. Asia Pacific encompasses some of the fast-growing economies such as China, India, and Japan, that will majorly contribute in the growth of Medium Voltage Vacuum Contactors. India is will majorly contribute to the medium voltage vacuum contactors market in the region, owing to the growth in its growing power sector. For instance, according to May 2018 report by India Brand Equity Foundation, India ranked fifth in the world for its power generation capacity. In May 2018, India ranked fourth in the Asia Pacific region, out of 25 nations on an index that measures overall power. Electricity production in India reached 1,201.543 Billion Units (BU) during 2018, accounting for 55.72% growth, compared to that in 2017. Medium voltage vacuum contactors are favoured in typical load equipment, such as transformers, which is majorly used in the power sector. Thus, growth of the power sector in Asia Pacific in turn, is expected to fuel grow of the medium voltage vacuum contactors, over the forecast period.

North America is the second-largest market for medium voltage vacuum contactors due to increasing generation and consumption of power in this region. For instance, according to Enerdata’s Global Energy in 2017, the rate of energy consumption in North America was 4,365 TWh, accounting for around 21% of the total consumption in the world. Similarly, the region generated 4,970 TWh in 2016. Medium voltage vacuum contactors are suitable for application that require large transformers or large motors, such as applications in the power generation and transmission industry. Thus, growth of the power sector in the region is expected to boost growth of the medium voltage vacuum contactors in North America.