Global Electrical Contacts Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Electrical Contacts Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An electrical contact is an electrical circuit component found in electrical switches, relays, connectors and circuit breakers. Each contact is a piece of electrically conductive material, typically metal. When a pair of contacts touch, they can pass an electrical current with a certain contact resistance, dependent on surface structure, surface chemistry and contact time.

Contacts may be operated by humans in push-buttons and switches, by mechanical pressure in sensors or machine cams, and electromechanically in relays. The surface where contact touch is usually composed of metals such as silver or gold alloys that have high electrical conductivity, wear resistance, oxidation resistance and other properties.

Market Overview:

The latest research study on the global Electrical Contacts market finds that the global Electrical Contacts market reached a value of USD 5005.66 million in 2022. It’s expected that the market will achieve USD 6654.59 million by 2028, exhibiting a CAGR of 4.86% during the forecast period.

The industrial chain is affected

The COVID-19 outbreak has disrupted business and economic activities globally. It is expected to have a short-term impact on the Electrical Contacts market to a certain extent. With several countries across the globe announcing nationwide lockdowns and temporary closures of various industries, production and manufacturing have been severely affected. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile. Trade barriers have further impacted the demand-supply gap. Companies operating in the Electrical Contacts market have suspended non-essential visits/activities until the COVID-19 outbreak is resolved.

The production cost of enterprises increases

With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.

Wide range of downstream applications

With the gradual development of the rapid growth of the national economy, as well as downstream industries, the demand for electrical contact materials is increasing, which provides a good opportunity for the development of electrical contact materials market and technology.

Electrical contacts are common in electrical mechanical devices that operate with a broad range of voltages and functions. Some of their most important uses include in: Household appliances, Motors, Control centers, Power plants, Assembly lines, Presses, Conveyors, Cranes, etc.

Restraints

The electrical contact material industry is a typical capital and technology-intensive industry. From the perspective of the overall industry development, a few companies with core technology, stable quality and high-quality customer structure have gradually occupied the main market.

Complex process and high technical barriers. As a key component of electrical switch products, electrical contact materials are known as the heart of low-voltage electrical appliances in the field of low-voltage electrical appliances. Its downstream customers’ products are used in automotive, aerospace, communications, power grids, basic industries and other fields, and are reliable for products. High requirements for performance, safety and stability

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

Tanaka is one of the major players operating in the Electrical Contacts market, holding a share of 9.97% in 2020.

Tanaka

Since the Tanaka Precious Metals Group was founded in 1885 (Meiji 18), its business scope has been centered on precious metals and has carried out a wide range of activities. In Japan, Tanaka have spared no effort to manufacture and sell industrial precious metal products, as well as provide precious metal products as gemstones and assets. In addition, as a precious metal-related expert group, various domestic and foreign group companies conduct manufacturing, sales, and technology integration, and work together to provide products and services. In addition, in order to continuously promote globalization, Metalor Technologies International SA was included in the group company in 2016.

Longsun

Zhongxi Group Co., Ltd., founded in 1986, is a leading enterprise of electrical contact materials integrating scientific research, production and sales. The group specializes in expensive/low-cost metal composite strips, electrical contact materials, and precision stamping contact components. The solar cell silver paste has cutting-edge talents, advanced technology, first-class equipment and perfect services in the industry.

Segmentation Overview:

By type, Low-Voltage Electrical Contacts segment accounted for the largest share of market in 2021.

Low-Voltage Electrical Contacts

Anything with 50 volts or less is considered low voltage, and thus, wiring that is designed to carry less than 50 volts is considered low voltage wiring. It carries less power than what is typically found in the home – for example, most standard wall outlets are 120V or 240V.

Medium and High Voltage Electrical Contacts

In general, medium voltage is a term used by the electrical power distribution industry. Here are a few ways medium voltage is defined: ANSI/IEEE 1585-2002 refers to: Medium Voltage (1 - 35 kV). Technically speaking, “medium voltage” fuses are those intended for the voltage range from 2,400 to 38,000 VAC.

A voltage of higher than 40V could be classed as high voltage as it could be potentially dangerous. Voltages of 208V or higher. The DOE Electrical Safety Guidelines define HV as over 600 volts. High voltage can be any electric potential capable of producing breakdown in air at STP or around 600V.

Light Load Electrical Contacts

Light load refers to a situation in which electronic circuits can replace the load: there is no load, light load, full load, and overload. Light load means that light load is relative to full load, which means that within the load range of the circuit, the load rate is below 30%. As for whether the light load means that the load resistance is large, it is not certain. In the load of constant current source, the load with small resistance is light. In the load of the constant voltage source, the load is light when the resistance is large.

Application Overview:

By application, the Relays segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Electrical Contacts market covered in Chapter 3:

DODUCO
Guilin Coninst
MATERION
Foshan Tongbao
Anping Feichang
Fuda
Tanaka
Longsun
Umicore
Chugai Electric
Wenzhou Hongfeng
Brainin
Nippon Tungsten

In Chapter 4 and Chapter 14.2, on the basis of types, the Electrical Contacts market from 2018 to 2029 is primarily split into:

Low-Voltage Electrical Contacts
Medium and High Voltage Electrical Contacts
Light Load Electrical Contacts

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electrical Contacts market from 2018 to 2029 covers:

Relays
Breaker
Contacts
Industrial Controls
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)