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AC Contactor Market Trends

Report ID: GMI7253
Published Date: Nov 2023
Report Format: PDF

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AC Contactor Market Trends

Concerning demand for energy-efficient solutions along with increasing digitalization & IoT integration are driving the adoption of AC contactors designed to minimize power consumption. Digital integration allows for remote monitoring, predictive maintenance, and enhanced automation in control systems. In addition, the rise of renewable energy sources, such as wind and solar power, is leading to a surge in the use of AC contactors for renewable energy generation and distribution. Moreover, AC contactors played a pivotal role in smart buildings, particularly in HVAC systems and building automation.

The electrification of transportation, particularly the electric vehicle (EV) industry, spurred demand for AC contactors used in EV charging infrastructure and battery management systems. Stricter environmental regulations influenced the development of eco-friendly and low-power-consumption contactors. In addition, the market experienced a shift towards e-commerce and online sales channels, making AC contactors more accessible to a wider customer base.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of AC contactor was exceeded USD 493.9 million in 2022 and will record over 5.4% CAGR from 2023 to 2032, due to adoption in variety of industrial and commercial applications to control the flow of alternating current (AC) in electrical circuits.

Electromagnetic AC contactor market size is likely to witness over 5.4% CAGR from 2023 to 2032, driven by the increasing emphasis on energy efficiency along with high adoption of green technology.

Asia Pacific AC contactor market size is expected to record over 6% CAGR through 2032, owing to economic growth, industrial advancements, environmental considerations, technological advancements, and the emergence of new applications.

TE Connectivity, Siemens, Toshiba International Corporation, Schneider Electric, LS ELECTRIC, Sensata Technologies, Inc., Curtiss-Wright, and GEYA Electrical Equipment Supply are some of the prominent AC contactor suppliers.