A magnetic contactor is a device powered by magnetism. This device is utilized to open & close contacts in a motor control circuit. Heater, DC switching, lighting, and transfer are some of the application areas of magnetic contractors. Rising awareness related to electrical safety standards is playing a positive role in boosting the growth of magnetic contractors. In the era of digitalization and industrial automation, demand for procuring safety devices like magnetic contractors will rise.
MARKET DYNAMICS
Factors such as higher safety provided by magnetic contractors makes them ideal for harsh environment or place with minimal space. Also, features such as easy to use and reduction in power consumption makes the magnetic contractors efficient for harsh industrial applications. All these factors collectively are boosting the market growth. Moreover, the development of strong and advanced magnetic contactors to ensure they can withstand in extreme payload situations is projected to create lucrative business opportunities for the growth of magnetic contractors manufacturers and will help in boosting the growth of the magnetic contractors market in a forthcoming period.
MARKET SCOPE
The "Global Magnetic Contactors Market Analysis to 2028" is a specialized and in-depth study of the electronics and semiconductor industry with a special focus on the global market trend analysis. The report aims to provide an overview of the magnetic controllers market with detailed market segmentation - product type, voltage, industry, and geography. The global magnetic controllers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading magnetic controllers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the magnetic controllers market is segmented into magnetic starter, star-delta starter, and mercury-wetted contractor.
- On the basis of voltage, the magnetic controllers market is segmented into low voltage, medium voltage, and high voltage.
- On the basis of voltage, the magnetic controllers market is segmented into industrial manufacturing, printing and packaging, automotive, others.
IMPACT OF COVID-19 ON MAGNETIC CONTACTORS MARKET
The 2019 novel coronavirus has created tremors in several industries. Due to mass lockdowns, travel bans, and business shutdowns, the novel outbreak has been affecting economies and myriad industries in various countries. During lockdown phase, work related to electrical installations declined in industrial plants, which has impacted the adoption of magnetic contractors in industries. Also, inconsistent variations in supply chain has further disrupted the production and installation process of magnetic contractors.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global magnetic controllers market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SAM). The magnetic controllers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the magnetic controllers market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the magnetic controllers in these regions.
MARKET PLAYERS
The reports cover key developments in the magnetic controllers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from magnetic controllers market are anticipated to lucrative growth opportunities in the future with the rising demand for magnetic controllers in the global market. Below mentioned is the list of few companies engaged in the magnetic controllers market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the magnetic controllers market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- ELIAS GHALI & SONS
- Eaton
- ETI Group
- Joslyn Clark
- Mitsubishi Electric
- Riken Electric Co.
- Schneider Electric SE
- Siemens AG
- Toshiba