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General Purpose DC Contactor Market Trends

Report ID: GMI11299
Published Date: Sep 2024
Report Format: PDF

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General Purpose DC Contactor Market Trends

Rapid increasing industrial automation growth along with rising electrical infrastructure development is catering the need for general purpose DC contactors. The shift towards automation in various industries, including manufacturing, logistics, and data centers, is contributing to the demand for the product.

These contactors play a critical role in controlling and switching power in automated systems, enhancing operational efficiency. In addition, the ongoing infrastructure development, especially in emerging economies is propelling the need for robust and reliable DC contactors. From transportation systems to smart grids, these contactors are essential for ensuring efficient power distribution and safety, thereby driving market growth.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of general purpose DC contactor reached USD 238.9 million in 2023 and is set to showcase a 6.8% CAGR during 2024-2032, fueled by the rising demand for EVs coupled with expansion of renewable energy projects.

The electric vehicles segment will grow at a rate of over 7.5% through 2032, driven by the transition of automotive sector towards electrification.

Asia Pacific market will exceed USD 160 million by 2032, stimulated by a notable shift from traditional internal combustion engine (ICE) vehicles and the adoption of sustainable solutions.

GEYA Electrical Equipment Supply, K.A. Schmersal GmbH & Co. KG, LOVATO Electric S.p.A., LS ELECTRIC, L&T, and Mitsubishi Electric Corporation, among others.