About Electrical Contacts and Contact Materials
Electrical contact is an electrical circuit component found in electrical switches, connectors, relays, and circuit breakers. Each contact may be a piece of electrically conductive material, mostly metal. When a pair of contacts touch, they pass an electrical current with a certain contact resistance, dependent on surface structure, surface chemistry and contact time; when the pair is separated by an insulating gap, then the pair does not pass any current. When the contact touches, the switch is closed, when the contacts are separated, the switch is open. The gap must be an insulating medium like air, oil, vacuum, etc. Contacts may be operated by people in push-buttons and switches, by mechanical pressure in sensors or machine cams, and electro-mechanically in relays. The surfaces where contacts touch is usually composed of metals such as silver or gold alloys, which have high electrical conductivity, wear resistance, and other properties.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, and new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that China Manufacturers will contribute the maximum growth to Global Electrical Contacts and Contact Materials market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Metalor Technologies International SA (Switzerland), Doduco (Germany), Umicore (Belgium), Toshiba (Japan), Chugai Electric Industrial Co., Ltd (Japan), Tanaka Kikinzoku (Japan), Heesung Catalysts (South Korea), Materion (United States), Mitsubishi Material (Japan), NIPPON TUNGSTEN CO., LTD (Japan) and FUDA Group (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are HONGFENG Electronic Co. (China), Longsun Group (China), Shanghai Renmin Electrical Apparatus Works (China) and Zhejiang Metallurgical Materials Co. (China).
Segmentation Overview
AMA Research has segmented the market of Global Electrical Contacts and Contact Materials market by Type (Silver-based Materials and Copper-based Materials), Application (Low-Voltage Products, Medium and High Voltage Products and Light Load Products) and Region.
On the basis of geography, the market of Electrical Contacts and Contact Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Electrical Contacts and Contact Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Usages, the sub-segment i.e. Contactor will boost the Electrical Contacts and Contact Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Inclination Towards the use of Advanced Electrical Appliances
Market Growth Drivers:
Growing Consumption of Electrical Devices, Increasing Adoption of The House-Hold Appliances, Increasing Use of Electronic Devices and Rising Demand for Multifunctional Industrial Machinery due to Rapid Urbanization
Challenges:
Supply-Demand Gap Due to Covid-19 Pandemic and Availability of Substitute
Restraints:
High Erosion Rate and Weld resistance increases with higher oxide contents
Opportunities:
Increasing Manufacturing Activity Across the Globe Mainly in Electrical Field and Developing Countries Specifically India and China have Rapidly Expanding Markets
Market Leaders and their expansionary development strategies
In September 2021- Vertiv Holdings Co a global provider of critical digital infrastructure and continuity solutions, announced that through its subsidiaries, it has entered into a definitive agreement to acquire E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC.
In November 2021- Modison Metals Limited, a Mumbai-based electrical contacts manufacturer, is going to expand into the trading, assembly, and manufacturing of battery energy storage systems (BESS) and electric vehicle (EV) charging infrastructure in India.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Electrical Contacts and Contact Materials Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.