Global DC Contacter Market
Global DC Contactor Market Size By Power Level, By Type, By Application, By End-Use Industry, By Geographic Scope And Forecast To 2026
According to Verified Market Research, the Global DC Contactor Market was valued at USD 315.17 Million in 2018 and is projected to reach USD 879.20 Million by 2026, growing at a CAGR of 13.98% from 2019 to 2026.
On-going economic expansion and urbanization across Brazil, Russia, India, China, and South Africa (BRICS) are expected to be the primary drivers of market growth, predominantly driving demand for medium and high voltage DC Contactors. Heavy industrialization and rapid urbanization in developing countries, such as India and China have stretched the demand for electricity.
Moreover, innovation and new technology are breathing new life into contactors and are eliminating many of the problems that traditionally contactors faced in the electrical switching world which is anticipated to be the major driving factors for the growth of the DC contactor market. However, stringent regulatory standards regarding testing of contactors and competition from the local vendors are expected to hinder the market growth.
Verified Market Research has been providing Research Reports, with up to date information, and in-depth analysis, for several years now, to individuals and companies alike that are looking for accurate Research Data. It has large database which includes the latest content from renowned authors and publications worldwide. It also provides customized Data and Reports according to the need of the client.