DC Contractor Market To Boom Industry Size: 2022, Growth Perspectives, Development Technologies and Innovations by 2028

A DC contactor is an electrically controlled device designed to switch current on and off. DC contactors control current in DC circuits by closing and opening internal contacts. DC contactors control much lower voltages than AC circuits and offer the benefit of minimal arcing as the circuit opens and closes.

The global DC contactor market size was USD 320.5 million in 2020. The global market size is projected to rise from USD 306.8 million in 2021 and to USD 521.7 million in 2028 at a CAGR of 7.9% during the forecast period.

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Companies Profiled in the DC Contactor Market : Omron Corp (Japan), Siemens AG (Germany), Rockwell Automation (U.S.), ABB (Switzerland), TE Connectivity (Switzerland), Mitsubishi Electric (Japan), Sensata Technologies Inc (U.S.), Ametec Switch (U.S.), Hotson International Ltd. (China), TrombettaInc (U.S.), Schaltbau Company (Germany), Cotronics BV (Netherland)

COVID-19 Impact:

Halt on Project Development to Restrict Market Growth

The outbreak of the COVID-19 virus has affected various industries globally. The government has imposed stringent restrictions on import/export policies that affected the market growth during the pandemic. Several industrial and commercial projects were on halt due to lack of supply and lack of workforce required to accomplish the goals. These factors have restricted the market growth during the pandemic. Key players in the market have faced challenges to acquire raw materials and produce goods at an average production rate.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

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Competitive Landscape:

Strategic Acquisitions Allows Key Players to Maintain Market Position

Key players in the market focus on implementing strategic plans for business development to ensure high productivity and profitability. These strategies are partnerships, mergers, strategic alliances, and implementing innovation activities for product development and differentiation. Furthermore, the companies focus on adopting technological advancements to increase their production and sales rate in the global market.

June 2021: Standard Motor Products Inc is a leading distributor and manufacturer in the automotive sector. The company strategically acquired Trombetta for USD 108 million. Implementing this acquisition the company has entered into the switching and power management products.
June 2020: Sensata Technologies introduced a new product range GV210 series of hermetically sealed gas-filled contactors. This allows the company to increase its sales rate by expanding its product portfolio.