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Global Definite Purpose Contactors Market is projected to exhibit a CAGR of 6.15% during 2017-2025

Author: QYResearch | Publish date: 2018-05-31 | Views: 22
The Definite Purpose Contactors industry was 248.23 million USD in 2017 and is projected to reach USD 400.05 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 6.15% between 2017 and 2025.


The market is driven by various end-user industries, such as HVAC and Air Conditioning, Pump and Compressor, Elevators and Cranes, Heating and Lighting, Food and Beverage and so on. As the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas’ company prefers investing to underdevelopment regions these years.


The key players are Schneider Electric, Rockwell Automation, Eaton, GE Industrial, ABB, Siemens, Honeywell, TE Connectivity, Mitsubishi Electric, Shihlin Electric, Chromalox, Carlo Gavazzi, Lovato Electric, Chint Electric, Hartland Controls, Zettler Controls, NHD Industrial, Hongfa and so on. Among them, Schneider Electric is the leader.


Rapid industrialization has led to increased disposable income and is a major factor for the growth of the Definite Purpose Contactors market in Asia Pacific, especially in China. A critical factor for growth in China is availability of raw materials at lower prices coupled with the presence of large number of suppliers and producers. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer consumption and capital investment for over two decades.


Split by product types, with production, revenue, price, market share and growth rate of each type, can be divided into 1-Pole Type, 2-Pole Type, 3-Pole Type, 4-Pole and so on. 3-Pole Definite Purpose Contactors have the largest market share now.


Definite Purpose Contactors can be used for HVACR. The performance of the commercial HVACR industry sector is closely linked to construction; as construction has slowed in the United States, and the Eurozone, demand for commercial HVACR equipment has declined as well. However, while commercial HVACR sales have slowed, the addressable market for motor controls, including contactors, in this industry has expanded. In the past, control devices were installed in HVACR systems mostly in schools and universities, but now control components are being installed in big-box stores, data centers, semiconductor factories and other applications.


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https://www.qyresearch.com/index/detail/148810/global-definite-purpose-contactors-market


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