AC Contactor Market Research Report Information By Product Type (electromagnetic contactor and permanent magnet contactor), By Voltage (below 800V, 900 V- 1000V and above 1000V Upto 1500V), By Current Ratings (50A, 80A, 100A, 150A and 200A) By End-Use (Electric Vehicles, PV Solar, Industrial Machinery, Data Centres and Others) By Application (motor application, power switching and others) and By Region - Global Forecast to 2030

Global AC Contactor Market Overview

The AC Contactor Market was valued at USD 1,645.94 million in 2022. The AC Contactor Market industry is projected to grow from USD 1,760.76 million in 2023 to USD 3,023.83 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.90 % during the forecast period (2023 - 2030). The demand from numerous end-use industries, including electric vehicles, PV solar, industrial machines, data centres, and others, is propelling the AC contractors market's quick expansion. Due to technical improvements, the adoption of smart grid systems, and the rising need for energy-efficient solutions, the market is predicted to experience considerable expansion over the next few years.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

AC Contactor Market Trends

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  Growing Demand for Energy-efficient Solutions and Increasing Adoption of Automation and Control Systems to fuel the AC Contactor market

  
  

Several companies are making energy efficiency a top priority as they work to cut operational expenses and carbon emissions. The energy efficiency of numerous systems, including those used in HVAC, lighting, and motor control, is crucially dependent on the work of AC contractors. AC contractors are a desirable alternative for businesses aiming to achieve sustainability goals since they can assist cut operating expenses and energy usage by optimising the performance of these systems. Controlling the flow of energy to different system components is one of the main advantages of AC contractors. They can therefore be utilised to optimise the operation of these parts and make sure they aren't consuming more energy than is required. To ensure that the fan motor in an HVAC system is only functioning at the speed required to maintain the specified temperature, the flow of electricity to the motor can be controlled by an AC contractor. Similar to this, in a lighting system, the use of AC contractors to regulate the electrical flow to the lights can help to ensure that they are not consuming more energy than is required.

Moreover, In several sectors, especially manufacturing, automation and control systems are becoming more common. AC contractors are key players in these systems, which are utilised to boost efficiency and optimise manufacturing processes. To ensure that all of the system's components work successfully and efficiently, AC contractors are employed to switch and manage the flow of power. The need to improve productivity and efficiency is one of the main drivers influencing the adoption of automation and control systems. Automation and control technologies can help businesses achieve their aims of increasing productivity and lowering expenses. Companies may make sure that these systems run as efficiently as possible, cutting down on downtime and increasing production, by engaging AC contractors. The use of automation and control systems is also being driven by the growing complexity of contemporary industrial systems. These systems are used to monitor and control different system components to make sure they function properly and effectively. These systems cannot function properly without the exact control that AC contractors offer over the flow of power to various parts.

AC Contactor Market Segment Insights

AC Contactor by Product Type Insights

Based on the product type, the market has been segmented into electromagnetic contactor and permanent magnet contactor. Of them, electromagnetic contactor segment dominated the AC Contactor Market with a value of USD 1,054.61 million in 2022; with an expected CAGR of 7.47 % during the forecast period. In order to control the flow of electricity, electromagnetic contactors use electromagnetic coils. The magnetic field produced by the activated coil pulls the contactor in and shuts the electrical contacts. The electrical contacts open when the coil is de-energized, releasing the contactor. Due to their longevity and capacity to withstand high current loads, electromagnetic contactors are frequently utilised in AC systems.

AC Contactor by Voltage Insights

Based on voltage, the AC contactor market has segmented into below 800V, 900 V- 1000V and above 1000V Upto 1500V. 900 V- 1000V segment dominated the AC Contactor Market with a value of USD 870.86 million in 2022; with an expected CAGR of 8.15 % during the forecast period. Industrial uses for contactors with a voltage range of 900V–1000V include huge motors, conveyor systems, and heavy machinery. The expanding manufacturing sector and the requirement for automation and sophisticated control systems can be linked to the rising demand for contactors in this voltage range. Contactors are used in these applications to help with safety, downtime, and productivity.

AC Contactor by Current Ratings Insights

Based on the current ratings, the market has been segmented into 50A, 80A, 100A, 150A and 200A. Of them, 100A segment dominated the AC Contactor Market with a value of USD 463.06 million in 2022; with expected CAGR of 8.38 % during the forecast period. Large machinery and pumps, as well as other industrial applications, frequently use contactors with a current rating of 100A. The expanding manufacturing sector and the requirement for effective and dependable control systems might be linked to the rising demand for contactors in this grade. Contractors are used in these applications to help with safety, downtime, and productivity.

AC Contactor by End-Use Insights

Based on end use, the AC contactor market has segmented into Electric Vehicles, PV Solar, Industrial Machinery, Data Centres and Others. Electric vehicles segment dominated the AC Contactor Market with a value of USD 648.67 million in 2022; with an expected CAGR of 8.52 % during the forecast period. Contactor manufacturers are seeing a lot of growth in the electric car sector. In electric vehicles, contactors are used to regulate the electrical flow from the battery to the motor. They are also utilised to manage the battery's external power supply charging. Contractors, which are crucial elements of the vehicle's electrical system, are becoming more and more in demand as the market for electric vehicles grows. In addition to their application in electric vehicles, contactors are also employed in charging stations to manage the flow of electricity to the vehicle.

AC Contactor by Applications Insights

Based on the application, the market has been segmented into motor application, power switching and others. Of them, motor application segment dominated the AC Contactor Market with a value of USD 921.21 million in 2022; with an expected CAGR of 7.58 % during the forecast period. One of the main markets for contactors is motor applications. In motor applications, contactors are utilised to regulate the electricity supply to the motor. Also, they serve to safeguard the motor from overloads and short circuits. Contactor demand in motor applications has increased as a result of the manufacturing sector's growing need for automation and sophisticated control systems. Contactors with high current ratings are often employed in motor applications to control the flow of huge amounts of power.

AC Contactor Regional Insights

Region-wise AC Contactor Market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa and South America. Asia-Pacific held the largest market share of 32.36% in 2022. Due to rising electric vehicle demand and the deployment of cutting-edge technology, the electric cars category is anticipated to have considerable growth in the Asia Pacific AC contractors market. The growth of electric vehicles has been prompted by growing environmental awareness and the need to reduce carbon emissions, which has increased demand for AC contractors in the automotive sector.

One of the biggest markets for electric vehicles is in the Asia Pacific region, which is primarily fueled by nations like China, Japan, and South Korea. The Chinese government has put in place a number of programmes and legislation to encourage the use of electric vehicles, which is anticipated to increase demand for AC contractors in the area. The need for AC contractors is anticipated to increase as a result of the tremendous expansion the renewable energy sector is seeing in India and the rest of the Asia Pacific region. Due to the region's plentiful solar energy resources, photovoltaic (PV) solar systems are becoming more and more common. The demand for AC contractors in the solar industry is a result of the expanding use of PV solar systems. The demand for AC contractors in the automotive industry is anticipated to rise as a result of the tremendous expansion the electric vehicle market is seeing in India and the rest of Asia Pacific. The region's need for AC contractors is anticipated to increase as a result of the Indian government's goal to switch to electric vehicles by 2030 and the rising investments in the electric vehicle sector.

AC Contactor Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the AC Contactor Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the AC Contactor Market industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global AC Contactor industry to benefit clients and expand the AC Contactor market sector is to manufacture locally to reduce operating costs. The market for AC Contactor is recognized as being extremely competitive and fragmented. The market for AC Contactor offers considerable potential opportunities for domestic and unorganised companies. Some of the key players operating in the AC Contactor Market are Siemens, Schneider Electric, ABB, Eaton, TE Connectivity, Mitsubishi Electric Corporation, Panasonic Corporation, Toshiba Corporation, Fuji Electric FA Components & Systems Co., Ltd, Sensata Technologies Holding plc, Rockwell Automation, Phoenix Contact, Siemens and Schneider Electric. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.

Mitsubishi Electric Corporation: is a Japanese company that designs, manufactures, and sells electrical and electronic products. Turbine generators, nuclear power plants, and power electronics equipment, as well as motors, transformers, circuit breakers, gas-insulated switchgear, switch control, and display devices, are all available from the company. It also provides surveillance and security systems, transmission and distribution systems, locomotive and rolling stock electrical equipment, elevators, escalators, building security and management systems, and other products. Logistics, real estate, advertising, procurement, finance, and other services are provided by the company. Mitsubishi Electric serves the information processing and communications industries, as well as space development and satellite communications, consumer electronics, industrial technology, energy, transportation, and building equipment. The company has operations in the Americas, Asia-Pacific, Europe, the Middle East, Africa, and the Commonwealth of Independent States.

Eaton Corporation plc:  operates in the power management industry. The Electrical Americas segment of the Company includes, among other things, electrical components, industrial components, power distribution and assemblies, residential products, single phase power quality and connectivity, three phase power quality, and wiring devices. Electrical components, industrial components, power distribution and assemblies, single phase and three phase power quality, and services are all part of the Electrical Global segment. The Vehicle segment designs, manufactures, markets, and supplies drivetrain, powertrain, and critical components for automobiles, light trucks, and commercial vehicles. Aerospace is a supplier of commercial and military aerospace fuel, hydraulics, and pneumatic systems, as well as filtration systems for industrial applications. The eMobility segment designs, manufactures, markets, and supplies, mechanical, electrical, and electronic components and systems.

Key Companies in the AC Contactor Market includes

• Siemens (Germany)


• Schneider Electric (France)


• ABB (Switzerland)


• Eaton (Ireland)


• TE Connectivity (Switzerland)


• Mitsubishi Electric Corporation (Japan).


• Panasonic Corporation (Japan).


• Toshiba Corporation (Japan).


• Fuji Electric FA Components & Systems Co., Ltd (Japan).


• Sensata Technologies Holding plc (United States)


• Rockwell Automation (United States)


• Phoenix Contact (Germany)

AC Contactor Industry Developments

2021:Schneider Electric has introduced the TeSys D Green contactor, which is more energy-efficient and environmentally friendly than previous models. When compared to traditional contactors, the TeSys D Green contactor features patented technology that reduces power consumption by up to 80%.

2020:ABB has introduced the new AF900 contactor series, which is intended to be more compact and efficient than previous models. ABB's new electronic coil control system, which reduces energy consumption and improves reliability, is also included with the AF900 contactors.

2019:Siemens has introduced the Sirius Innovations contactor series, which is intended to be more compact, efficient, and versatile than previous models. The contactors from Sirius Innovations have a modular design that allows for easy customization and expansion, as well as advanced diagnostic and monitoring capabilities.

2019:Eaton has introduced its new XT IEC contactors, which are intended for industrial applications and have a modular design that allows for simple customization and installation. Eaton's new electronic coil control technology, which reduces energy consumption and improves performance, is also included with the XT IEC contactors.

AC Contactor Market Segmentation

AC Contactor Product Type Outlook

• Electromagnetic Contactor


• Permanent Magnet Contactor

AC Contactor Voltage Outlook

• Below 800V


• 900 V- 1000V


• Above 1000V Upto 1500V

AC Contactor Current Ratings Outlook

• 50A


• 80A


• 100A


• 150A


• 200A

AC Contactor End-Use Outlook

• Electric Vehicles


• PV Solar


• Industrial Machinery


• Data Centres


• Others

AC Contactor Applications Outlook

• Motor Application


• Power Switching


• Others

AC Contactor Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • South America