USD 4.19 billion
EV Battery Contactor Market Size, Share, Growth Analysis, By Application(electric cars, electric buses, electric trucks, and electric two-wheelers), By Type(AC contactors and DC contactors), By Voltage range(low voltage contactors (up to 60V), medium voltage contactors (60V-600V), and high voltage contactors (above 600V)), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20E2020 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
89
|Figures:
63
EV Battery Contactor Market Insights
EV Battery Contactor Market size was valued at USD 4.19 billion in 2019 and is poised to grow from USD 4.86 billion in 2023 to USD 12.45 billion by 2031, at a CAGR of 12.98% during the forecast period (2024-2031).
EV Battery Contactors are becoming popular since they are enabled to offer several advantages such as safety, efficiency, reliability, flexibility, cost effectiveness.Consumers of various products all across the globe were tensed about the unintentional discharging of high voltage batteries in the products. Therefore, the battery contractors are designed to prevent the high voltage batteries from unintentionally discharging that reduces the risk of electrical shock or fire hazards.Many countries across the globe have the major concern to save the energy through various sources,therefore this advantage EV battery contractors can help them to minimize the energy losses and extend the driving range of electric vehicles by insuring that batteries power is only delivered to motor when it is required.Battery contractors are relatively cost effective components.That require minimal maintenance, which helps to reduce overall operating cost and can significantly improve the performance, safety and reliability of the EVs.
US EV Battery Contactor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
electric cars
Fastest Growth
electric cars
Growth Rate
12.98% CAGR
Global EV Battery Contactor Market ($ Bn)
Country Share for North America Region (%)
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EV Battery Contactor Market Segmental Analysis
Global EV Battery Contactor market is segmented on the basis of application, Type, voltage range and region. By application, the EV Battery Contactor Market is segmented into electric cars, electric buses, electric trucks, and electric two-wheelers and others. By type, the EV Battery Contactor Market is segmented into AC contactors and DC contactors. By voltage range, the EV Battery Contactor Market is segmented into low voltage contactors (up to 60V), medium voltage contactors (60V-600V), and high voltage contactors (above 600V). By region, the EV Battery Contactor Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
EV Battery Contactor Market Analysis by Application
By application, the global market is divided into many segments such as electric cars, electric buses, electric trucks, and electric two-wheelers. The electric two-wheelers segment held the largest global EV Battery Contactor market share due to the wide range of benefits provided by EV Battery Contactor in it. Since they are enabled to offer several advantages such as safety, efficiency, reliability, flexibility, cost effectiveness.Consumers of various products all across the globe were tensed about the unintentional discharging of high voltage batteries in the products. Therefore, the battery contractors are designed to prevent the high voltage batteries from unintentionally discharging that reduces the risk of electrical shock or fire hazards.Electric car is the fastest growing segment with the highest CAGR.
Global EV Battery Contactor Market By Application
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EV Battery Contactor Market Regional Insights
In 2021, North America is anticipated to have the largest market share for EV Battery Contactor globally. The presence of major market participants, rising demand and popularity, providing a number of advantages, and other aspects are key drivers throughout this boom period.
Asia Pacific is anticipated to expand the quickest during the projection period, by far. The same EV Battery Contactor technology acquisition is on the rise in the Asia Pacific area, particularly in China and Japan. In the past three years, the penetration of EVs in Asia Pacific has doubled. Also, a number of operators are making significant investments in order to offer high-speed services to customers at a reasonable cost, which is probably going to increase demand for EV Battery Contactor in the area.
Global EV Battery Contactor Market By Region
- Largest
- Fastest
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EV Battery Contactor Market Dynamics
EV Battery Contactor Market Drivers
Government Incentives to Bolster Market Growth
- All the countries across the globe has seen the drastic rise in the demand for electric vehicles and shift towards clean energy sources that can reduce the pollution is driving the growth of EV battery contactor market.More the customer across the globe shift towards the electric vehicles, more will be the demand of battery contactors.Along with the demand, the government across the globe are providing several incentives and have strict regulations so that the consumer shift from the pollution causing traditional vehicles to electric vehicles.Therefore, incentives like tax credit subsidy is has helped in increasing the popularity of electric vehicles that intern helps to propel the growth of electric vehicle battery contractor market.
EV Battery Contactor Market Restraints
High Cost to Hinder Market Growth
- Due to the special complex, specialized design and to meet the safety standards to avoid the risk of fire or other hazards. Cost of electric vehicle battery contactor is expensive compared to traditional mechanical contractors.Along with a the range of the battery provided by electric vehicle contactor can be limiting, which can limit the appeal to the consumers for the electric vehicles therefore.Along with high costs and limited range, the growth of the electric vehicle contractor can be impacted negatively.
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EV Battery Contactor Market Competitive Landscape
Competition in the global EV Battery Contactor market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with EV Battery Contactor will also increase.
EV Battery Contactor Market Top Player’s Company Profiles
- TE Connectivity
- Fujitsu
- Eaton
- Tyco electronics
- gigavac
EV Battery Contactor Market Recent Developments
- In May 2022, Eatone World's top energy management company, announced its Immobility division launched a battery disconnect unit that can be combined with the modernized breakout circuit protection technology to aid circuit protection in electric vehicles while generally reducing complexity and cost.
EV Battery Contactor Key Market Trends
- Many manufacturers across the globe are now focusing on developing battery contractors that can handle higher current Sen operate at higher temperature, thereby improving the efficiency, reliability and durability of electric vehicles.This feet is achieved due to the technological advancement that is also continuously helping the market to evolve with the time.Along with a due to the entry of new startups, the competition in electric vehicle market has increased and therefore, established players are expanding their product offering and investing in research and development to stay ahead of the new competitions.
EV Battery Contactor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global EV Battery Contactor market analysis, the global market will showcase growth because of the benefits it consists of such as safety, efficiency, reliability, flexibility, cost effectiveness.. EV Battery Contactors will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.19 billion |
| Market size value in 2031 | USD 12.45 billion |
| Growth Rate | 12.98% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on EV Battery Contactor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on EV Battery Contactor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the EV Battery Contactor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the EV Battery Contactor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the EV Battery Contactor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the EV Battery Contactor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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