Market Overview:
The global permanent magnet contactors market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient equipment and rising awareness about energy conservation. In addition, the growing demand for electric vehicles is also contributing to the growth of this market. The AC contactor segment is expected to dominate the global permanent magnet contactors market during the forecast period. This segment accounted for a majority of the share in 2017 and is projected to grow at a CAGR of 5.8% from 2018 to 2030.
Product Definition:
A permanent magnet contactor is a type of electromechanical switch that uses a permanent magnet to control the flow of electricity. The main advantage of using a permanent magnet contactor is that it can handle large currents without experiencing any wear or tear, making it ideal for use in heavy-duty applications.
AC Contactor:
AC contactor is a device used to interrupt the current flow in electric circuits. It does not alter the voltage or power flow in any way. The circuit breakers, fuses, and switches are all examples of AC contactors. They are widely used as switching devices in electronic equipment such as computers and telecommunication systems due to their ability to operate at low speeds without overheating or triggering protective devices such as fuses.
DC Contactor:
DC contactor is a switching device used in electric power systems to make and break the circuit. It is also known as a darlingtoncontactor or rheostat. The product finds its major application in electric power systemswithin commercial, industrial, and residential buildings for controlling electrical loads such as motors, air conditioners fans & heaters among others.
Application Insights:
The motor application segment led the market and accounted for more than a 38% share of the global revenue in 2017. The permanent magnet contactors are used as an alternative to thyristors for controlling electric motors with very high efficiency, particularly in industrial applications. These devices have been witnessing growing adoption across several industries owing to their ability to reduce energy consumption by up to 90%.
The power switching application segment is expected register the highest CAGR over the forecast period owing to its rising penetration across various utility applications including wind turbines, hydroelectricity stations and coal-fired power plants. The permanent magnet contactor is used as a reliable switchgear component that can be installed at distances from 50 m up till 300 km from load centers without any loss of quality or performance due largely to its excellent field strength coupled with low maintenance cost.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for electric vehicles and growing industrialization in emerging economies, such as China and India. In addition, rising investments in power infrastructure are also anticipated to drive product demand over the next eight years.
The Asia Pacific permanent magnet contactors market accounted for a revenue share of more than 30% in 2017 owing to its rapidly developing electrical & electronics industry along with high energy consumption due to rapid industrialization & urbanization. Moreover, rising concerns regarding carbon emission have led governments across various countries of APAC adopt renewable energy initiatives that will reduce fossil fuel imports and thereby boost product demand over the coming years.
Europe was valued at USD X million in 2017 owing to well-established manufacturing base of automotive components coupled with high penetration rate of permanent magnet motors across several end-use industries including construction, aerospace etc.
Growth Factors:
- Increasing demand for energy-efficient electrical equipment
- Rapid industrialization and urbanization in developing countries
- Rising demand from the automotive sector
- Growing popularity of renewable energy sources
- Technological advancements
Scope Of The Report
Report Attributes
Report Details
Report Title
Permanent Magnet Contactors Market Research Report
By Type
AC Contactor, DC Contactor
By Application
Power Switching, Motor Application, Other
By Companies
ABB, Schneider Electric, Mitsubishi Electric, ETI Group, Siemens, Rockwell, Eaton, Joslyn Clark, Toshiba, Zez Silko, ABB
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
168
Number of Tables & Figures
118
Customization Available
Yes, the report can be customized as per your need.
Global Permanent Magnet Contactors Market Report Segments:
The global Permanent Magnet Contactors market is segmented on the basis of:
Types
AC Contactor, DC Contactor
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Switching, Motor Application, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Schneider Electric
- Mitsubishi Electric
- ETI Group
- Siemens
- Rockwell
- Eaton
- Joslyn Clark
- Toshiba
- Zez Silko
- ABB
Highlights of The Permanent Magnet Contactors Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- AC Contactor
- DC Contactor
- By Application:
- Power Switching
- Motor Application
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Permanent Magnet Contactors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Permanent magnet contactors are a type of electric motor that uses magnets to create a rotational force. This force is used to power devices like fans, pumps, and motors. Permanent magnet contactors are often used in industrial applications because they offer high efficiency and reliability.
Some of the key players operating in the permanent magnet contactors market are ABB, Schneider Electric, Mitsubishi Electric, ETI Group, Siemens, Rockwell, Eaton, Joslyn Clark, Toshiba, Zez Silko, ABB.
The permanent magnet contactors market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Permanent Magnet Contactors Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Permanent Magnet Contactors Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Permanent Magnet Contactors Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Permanent Magnet Contactors Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Permanent Magnet Contactors Market Size & Forecast, 2020-2028
4.5.1 Permanent Magnet Contactors Market Size and Y-o-Y Growth
4.5.2 Permanent Magnet Contactors Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 AC Contactor
5.2.2 DC Contactor
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Power Switching
6.2.2 Motor Application
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Permanent Magnet Contactors Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Permanent Magnet Contactors Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 AC Contactor
9.6.2 DC Contactor
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Power Switching
9.10.2 Motor Application
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 AC Contactor
10.6.2 DC Contactor
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Power Switching
10.10.2 Motor Application
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 AC Contactor
11.6.2 DC Contactor
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Power Switching
11.10.2 Motor Application
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 AC Contactor
12.6.2 DC Contactor
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Power Switching
12.10.2 Motor Application
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 AC Contactor
13.6.2 DC Contactor
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Power Switching
13.10.2 Motor Application
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Permanent Magnet Contactors Market: Competitive Dashboard
14.2 Global Permanent Magnet Contactors Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Schneider Electric
14.3.3 Mitsubishi Electric
14.3.4 ETI Group
14.3.5 Siemens
14.3.6 Rockwell
14.3.7 Eaton
14.3.8 Joslyn Clark
14.3.9 Toshiba
14.3.10 Zez Silko
14.3.11 ABB
