Global Contactors Market 2024-2028
The contactors market is forecasted to grow by USD 339.3 mn during 2023-2028, accelerating at a CAGR of 7.08% during the forecast period. The report on the contactors market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for motor protection devices, stringent government regulations to promote energy conservation, and proliferation of smart grids and automation technologies.
Technavio's contactors market is segmented as below:
By Type
- AC contactors
- DC contactors
By End-user
- Residential
- Commercial
- Industrial
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the emergence of miniature and auxiliary contactors as one of the prime reasons driving the contactors market growth during the next few years. Also, growing investments in renewable energy sources and rising installation of hvac systems in residential and commercial buildings will lead to sizable demand in the market.
The report on the contactors market covers the following areas:
- Contactors market sizing
- Contactors market forecast
- Contactors market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading contactors market vendors that include ABB Ltd., AMETEK Inc., Danfoss AS, Eaton Corp. Plc, Furukawa Electric Co. Ltd., HIMEL HONG KONG LTD., Hubbell Inc., ISKRA elektro in sistemske resitve d.o.o, Kohler Co., Kunshan GuoLi Electronic Technology Co. Ltd., Legrand SA, LOVATO Electric Spa, LS ELECTRIC Co. Ltd., Mitsubishi Electric Corp., Rockwell Automation Inc., Sassin International Electric Shanghai Co. Ltd., Schaltbau Holding AG, Schneider Electric SE, Siemens AG, and Zhejiang CHINT Electrics Co. Ltd.. Also, the contactors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.