What the 200 A rating means for your panel
The 200 A continuous rating is the thermal current (Ith) — the contactor can carry that current through its main poles in free air without exceeding temperature rise limits. For motor loads, you derate to the AC-3 duty current (typically around 115-130 A for this frame size), which is the value that governs actual switching life on inductive loads like pumps and conveyors.
The 200 A frame requires adequate clearance around the arc chutes for heat dissipation — follow the manufacturer's minimum spacing (typically 50 mm above and below) to avoid nuisance thermal tripping in enclosed panels. The coil draw at 48 V is higher than at 130 V; factor that into your control transformer sizing if the panel runs multiple contactors on the same 48 V bus.