Europe Electric Vehicle Contactor Market Size - By Product (DC Contactor, AC Contactor), By Voltage (High Voltage (>60V), Low Voltage (≤60V)), By Application, Country Outlook & Forecast, 2024 – 2032

Europe Electric Vehicle Contactor Market Size

Europe Electric Vehicle Contactor Market was valued at USD 57 million in 2023 and will grow at a CAGR of over 6.7% between 2024 and 2032, driven by government regulations aimed at reducing emissions and rising consumer interest in eco-friendly transportation. The policy makers targets mandating lower CO2 emissions from cars which are pushing automakers to rapidly invest in EV deployment which in turn is adding to the market growth.
 

The European EV market is witnessing a higher growth owing to increasing government measures in improving battery technology and rapid adoption of electric vehicles. In addition, countries are pushing for higher EV adoption to meet environmental goals, leading to increased demand for EV components, including contactors.
 

Europe Electric Vehicle Contactor Market Trends

Innovations in contactor technology such as the development of more efficient and reliable contactors is becoming a prime importance in manufacturers perspective, which in turn is driving the product adoption. Advances include contactors with higher voltage and current handling capabilities, extended lifespan, and enhanced safety features. In addition, growing trend towards solid-state contactors, which offer benefits like faster switching, reduced noise, and lower maintenance compared to traditional mechanical contactors if further propelling the market growth. Furthermore, modern EV contactors are increasingly integrated with BMS to improve overall vehicle performance, safety, and battery longevity. This integration helps in better monitoring and controlling of electrical loads and distribution.
 

Europe Electric Vehicle Contactor Market Analysis

Based on the product, the DC contactors market is estimated to surpass USD 52 million by 2032. DC contactors are powering the surge in Europe's electric vehicle (EV) market as the product act as switches for the high-voltage direct current flowing within an EV's system. The demand for DC contactors in the region is high owing to the rapid development of DC contactors with increased current handling capabilities, faster switching speeds, and improved arc suppression to meet the demands of next-generation, longer-range EVs.
 

Based on the application, the charging system industry is anticipated to grow at 6.5% growth rate through 2032, European electric vehicle market for battery management systems (BMS) which is electric car production surges for the demand for advanced charging system which caters to different electric vehicle configurations, with battery electric vehicles (BEVs) being the primary driver of growth. Thus, the market caters to both passenger cars and commercial vehicles, with passenger cars currently dominating due to higher overall EV sales in that segment.
 

Germany electric vehicle contactor market is estimated to exceed over USD 38.5 million by 2032 owing to the rising private & public deals for consumers with generous subsidies and tax breaks, making EVs a financially attractive option with the higher upfront cost compared to gasoline cars. In addition, manufacturers are focusing on meeting stringent safety standards and regulations which includes features like arc suppression, fault detection, and fail-safe mechanisms, thereby catering to a favourable business outlook in the country.
 

Europe Electric Vehicle Contactor Market Share

TE Connectivity, Panasonic Corporation, Eaton Corporation, and Mitsubishi Electric Corporation are among the leading manufacturers in the Europe electric vehicle (EV) contactor industry. TE Connectivity is renowned for its high-voltage contactors specifically designed for electric and hybrid vehicles, emphasizing stringent safety and reliability standards. Panasonic offers a variety of compact and efficient EV contactors, addressing the increasing demands of the EV market.
 

Europe Electric Vehicle Contactor Market Companies

Major key players operating across the Europe electric vehicle contactor industry are:

• ABB
• Carlo Gavazzi
• Eaton
• Fuji Electric FA Components & Systems Co., Ltd.
• GEYA Electrical Equipment Supply
• K.A. Schmersal GmbH & Co. KG
• L&T
• LOVATO Electric S.p.A.
• LS ELECTRIC
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Rockwell Automation
• Schneider Electric
• Sensata Technologies, Inc.
• Siemens
• TE Connectivity
• Toshiba International Corporation
   

Europe Electric Vehicle Contactors Industry News

• In January 2023, TE Connectivity (TE) received VG certification for its HARTMAN K-Series contactors, promoting their use in demanding sectors such as automotive, aerospace, marine, and defense. These contactors meet the mechanical shock, vibration, temperature, and electrical standards outlined in the VG96928 specification. Key features include economized coils, auxiliary contacts, busbar connectivity for efficient heat dissipation, and a compact design that allows for dense packaging.
   
• In September 2023, Sensata Technologies launched the GTM500 and GTM400 bidirectional contactors that will be used for energy storage, heavy-duty vehicles, and DC fast charging. These contactors display bidirectional power charging that enables electric vehicle (EV) battery charging not only from the grid but also from a vehicle-to-grid (V2G) system.
   

This Europe electric vehicle contactors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) (Thousand Units) from 2021 to 2032, for the following segments:

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Market, By product

• DC Contactors
• AC Contactors

Market, By voltage

• High Voltage (>60V)
• Low Voltage (≤60V)

Market, By Applications

• Battery Management System
• Inverters,
• Heating ,Ventilation and Air conditioning (HVAC)
• Charging systems

The above information has been provided for the following countries:

• Germany
• France
• UK
• Spain
• Italy