Sealed Contactor Market Segmentation:
Application Segment Analysis
The global sealed contactor market is segmented and analyzed for demand and supply by application into heaters, lighting equipment, motor control, air conditioners, refrigerator, and others. Out of these segments, the air conditioners segment is estimated to gain the largest market share of about 38% in the year 2035. The main factor for segment growth is the rise in disposable income which has propelled the adoption of luxuries such as air conditioners. Also, air conditioners are designed with a complex electrical circuit which needs to be handled with efficiency through the integration of a sealed contactor in the system.
End-user Segment Analysis
The global sealed contactor market is also segmented and analyzed for demand and supply by end-user into telecommunication equipment, solar energy system, engineering machinery, electric cars, and others. Amongst these segments, the electric cars segment is expected to garner a significant share of around 34% in the year 2035. The major factor attributed to segment growth is the rising preference for electric vehicles over traditional cars and the utilization of sealed contactors for isolating the high-voltage battery from the high-voltage network. It has been estimated that around 145 million electric vehicles are supposed to be present on the roads of the world by 2030. Furthermore, the constantly increasing crude oil price and the rising awareness about the benefits of electric mobility are also estimated to help in segment growth. In addition, the number of rising government initiatives to cut down the dependency on crude oil and reduce vehicle pollution are also some of the factors that are anticipated to positively contribute to the expansion of segment size in the future.
Our in-depth analysis of the global market includes the following segments:
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By Application |
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