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Europe Electric Vehicle Contactor Market Trends

  • Report ID: GMI9931
  • Published Date: Jun 2024
  • Report Format: PDF

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.
 

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of Europe electric vehicle contactor was crossed USD 57 million in 2023 and will grow at 6.7% CAGR during 2024 to 2032, owing to government regulations aimed at reducing emissions and rising consumer interest in eco-friendly transportation.

Europe DC electric vehicle contactor market is estimated to surpass USD 52 million by 2032, owing to the rapid development of DC contactors with increased current handling capabilities.

Germany EV contactor market recorded decent growth in 2023 and 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.

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, and Sensata Technologies, Inc. among others.

Europe Electric Vehicle Contactor Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 18
  • Tables & Figures: 12
  • Countries covered: 5
  • Pages: 90
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