Energy & Power

Contactors market Market

By Segment, By Region, And Segment Forecasts, 2016 – 2024

Vertical: EnPBase Year: 201810 Sections

Executive Summary

Contactors market Market — Snapshot

  • Market Size (2016)

    2016

    $6.47B

  • Projected (2024)

    2024

    $10.80B

  • CAGR (2016–2024)

    6.6%

    6.6%
  • Key Players

    108+

The demand for global contactors is growing rapidly owing to various factors, including the need for effective LMS and rise in the use of contactors within HVAC systems.

The global contactors market is projected to grow at 6.88% CAGR during the forecast period, 2018–2024. In 2018, the global contactors market was led by Asia-Pacific with a 38.15% share, followed by North America and Europe with shares of 25.05% and 14.98%, respectively.

The global contactors market has been segmented based on type, product, poles, voltage, end-users, and region. On the basis of type, the contactors market has been segmented into solid state contactors, magnetic contactors, vacuum contactors, and others. The vacuum contactors segment is expected to grow at the fastest rate during the forecast period. In 2018, the vacuum contactors segment held a 37.16 % share of the global contactors market. On the basis of product, the contactors market has been segmented into DC contactors and AC contactors. The AC contactors is expected to grow at the faster rate during the forecast period. In 2018, the AC contactors segment held a 61.29% share of the global contactors market. On the basis of number of poles, the contactors market has been segmented into 2 poles, 3 poles, and 4 poles. The 3 pole is expected to grow at the fastest rate during the forecast period. In 2018, the 3 pole segment held a 37.13% share of the contactors market. On the basis of voltage, the contactors market has been segmented into low voltage, medium voltage, and high voltage. The low voltage is expected to grow at the fastest rate during the forecast period. In 2018, the low voltage segment held a 48.19% share of the contactors market. On the basis of end use, the contactors market has been segmented into automotive, power, oil & gas, food & beverages, construction, mining, and others. The power segment is expected to grow at the fastest rate during the forecast period. In 2018, the power segment held a 31.65% share of the contactors market. On the basis of region, the global contactors market has been segmented into the North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2018, Asia-Pacific held a 38.15% share of the global contactors market.

Key Insight

The Contactors market Market market is projected to grow at a CAGR of 6.6% from 2016 to 2024.

Market Performance Trend

Historical performance and future projections (2020–2030, USD Billion)

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Market Scope & Coverage

What this report covers

  • Geographic Coverage: This analysis covers 5 regions: Asia Pacific, South America, Europe, North America, Middle East and Africa.
  • Market Segmentation: The market is analyzed across 4 segments: Vacuum Contactor, Solid State Contactor, Magnetic Contactor, Lighting Contactor. Forecasts are provided for each segment from 2016 to 2024.
  • Competitive Landscape: 108 leading companies are profiled, covering market positioning, strategies, and recent developments.

Market Size (USD Mn)

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Market Overview

Contactors market Market — Growth Trajectory

The contactor is an electrical device used for switching an electrical circuit. Contactors are generally applicable to heavy electrical load for motors, pumps, lighting, and heating equipment. They are controlled by circuits with low power level than the switched circuit. There are different types on contactors depending on varying features and capacities. The components of contactors include contact, springs, and electromagnets. Contactors are different from relays as they are used for high load electrical devices whereas relays are used for low load electrical devices.

Contactors market Market — Growth Trajectory

Vacuum Contactor
Solid State Contactor

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Market Size Trend (USD Mn)

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Market Dimensions

How this market is segmented

  • Type Type is broken down into: Solid State Contactor, Magnetic Contactor, Vacuum Contactor, Lighting Contactor.
  • Voltage Voltage is broken down into: Low Voltage, Medium Voltage, High Voltage.
  • End-User End-User is broken down into: Automotive, Food & Beverage, Power, Oil & gas, Construction, Mining, Others.
  • Number of Poles Number of Poles is broken down into: 2 Pole, 3 Pole, 4 Pole, Number of Poles_Others.
  • Product Product is broken down into: AC Contactor, DC Contactor.

Geographic Analysis

Regional market breakdown

  • South America South America market size reached $653.12M in 2016 and is projected to reach $1.01B by 2024, growing at a CAGR of 5.7%.
  • North America North America market size reached $1.61B in 2016 and is projected to reach $2.74B by 2024, growing at a CAGR of 6.8%.
  • Europe Europe market size reached $972.18M in 2016 and is projected to reach $1.61B by 2024, growing at a CAGR of 6.5%.
  • Asia Pacific Asia Pacific market size reached $2.45B in 2016 and is projected to reach $4.21B by 2024, growing at a CAGR of 7.0%.
  • Middle East and Africa Middle East and Africa market size reached $782.86M in 2016 and is projected to reach $1.23B by 2024, growing at a CAGR of 5.8%.

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Research Methodology

Contactors market Market — How We Researched This Market

This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.

  • Base Year

    2018

  • Historical Period

    2016 – 2018

  • Forecast Period

    2018 – 2024

  • Primary Interviews

    150+

Research Process

Historical data (2016–2018) and forecast period (2018–2024)

1

Problem Definition

  • Market scoping
  • Objective setting
  • Framework design
2

Secondary Research

  • Literature review
  • Data mining
  • Trend analysis
3

Primary Research

  • Expert interviews
  • Field visits
  • Surveys
4

Data Analysis

  • Quantitative modeling
  • Statistical testing
  • Validation
5

Insights & Reporting

  • Synthesis
  • Recommendations
  • Visualization

Research Depth

Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.

Historical vs. Forecast Data

Historical (observed)
Forecast (modelled)

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Quantitative Analysis

Regional Breakdown

Regional market breakdown for Contactors market Market.

Regional Market Size (USD Mn)

Market estimates by geography (2024)

USD Mn

InsightAsia Pacific leads with $4.21B by 2024.

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Regional Market Data

REGION201620182024CAGRSHARE
South America$653.12M$802.63M$1.01B5.7%9%
North America$1.61B$2.07B$2.74B6.8%25%
Europe$972.18M$1.23B$1.61B6.5%15%
Asia Pacific$2.45B$3.17B$4.21B7.0%39%
Middle East and Africa$782.86M$966.43M$1.23B5.8%11%
Total$6.47B$8.24B$10.80B6.6%100%

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Segment Revenue (2024)

Vacuum Contactor
Solid State Contactor
Magnetic Contactor
Lighting Contactor
01134226834024536

Segment Market Share

  • Vacuum Contactor38%
  • Solid State Contactor28%
  • Magnetic Contactor20%
  • Lighting Contactor13%

Total Market Size

$10.80B

Market by Segment (2024)

APPLICATIONREVENUE ($B)GROWTH RATEMARKET PENETRATION
Vacuum Contactor$4.12B6.6%
54%
Solid State Contactor$3.05B6.6%
81%
Magnetic Contactor$2.18B6.6%
77%
Lighting Contactor$1.44B6.6%
77%

* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.

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Analytics

Contactors market Market — Key Findings

Analytical insights on Contactors market Market covering market dynamics, competitive landscape, and strategic outlook.

Key Analytical Findings

The Contactors market Market market is projected to reach $10.80B by 2024, growing at 6.6% CAGR. The Vacuum Contactor segment holds the largest share.

Market Drivers

LMS plays a vital role in managing the complexities of the power grid and eliminating disturbances from external grids. It is extensively implemented by electric utilities to manage the load in the power network grid. Contactors, being a vital aspect of the LMS, are extensively used in the power distribution network for switching an electrical power circuit for smooth functioning of electrical equipment. They provide compact and reliable switching solutions within the LMS.

One of the major factors driving the global contactors market is the significant investments in transmission and distribution network. For instance, according to the World Bank Report 2019, in Eswatini, Africa, an investment of USD 45 million has been planned in improving the reliability of the power distribution network, which is expected to reinforce the transmission and distribution grid components till 2024. In the Moldova Power System Development Plan, an investment of USD 75 million has been made recently in 2019 to enable cross‐border interconnection between Moldova and Romania till 2024, strengthening the domestic power transmission network. High investments in transmission and distribution are expected to increase the demand for LMS is instrumental in ensuring proper electricity supply. Therefore, the need for effective LMS is expected to drive for the growth of the contactors market during the forecast period.

Market Opportunities

Asia-Pacific has been witnessing an increase in electricity demand due to industrialization and urbanization in the emerging countries of China, Malaysia, Indonesia, and India. An increase in electricity demand in these countries is aimed to be met by significant investments in power generation sector. For instance, in 2018, the total volume of electricity generated reached 26,614.8 TWh, 12,273.6 TWh of which was contributed by Asia-Pacific. Moreover, according to the International Energy Agency, World Energy Outlook 2017, the global energy demand is expected to rise at a phenomenal rate of 30% by 2040, with Asia-Pacific accounting for two-third of this global energy growth owing to the urbanization and rising population in the region. The increasing electricity generation would make the power distribution network more complex, requiring electrical components incuding contactors for ensuring efficient and reliablepower supply. According to the World Investment Report 2018, USD 27,696 million has been invested in the Asia-Pacific green­field projects in 2017 for the advancement of electrical and electronic equipment industry. The increasing investments in the greenfield projects are expected to lead to the demand for electrical equipment for efficient power supply, providing opportunity to the contactors market players in Asia-Pacific during the forecast period.

Market Restraints

The contactor is an essential component used in the power distribuiton network that ensures reliable and safe operation by switching an electrical power circuit. The major issue related to their use is the high cost that increases the overall operating cost of the contactors. They are available in various power ratings that require significant expenditure. The high cost of contactors is attributed to the complex procedure pertaining to acquiring raw materials, such as Bakelite, nylon, thermosetting plastics, copper, and silicon steel. The high installation cost of the contactor raises the transmission and cost project cost. Hence, the high procurement cost of contactors might restrain the global contactors market growth.

Strategic Outlook and Future Directions

Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.

Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.

Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.

Market Value by Segment (2024)

Value (USD Mn)
Vacuum Contactor
Solid State Contactor
Magnetic Contactor
Lighting Contactor

Companies

Key companies profiled in Contactors market Market

Profiles of 108 companies operating in the Contactors market Market market, including revenue, employee count, and market positioning where available.

Showing 108 of 108 companies

LSIS Co. L

LSIS Co. Ltd

Energy & Power

Company Headquarters: Gyeonggi-do, South Korea Founded: 1974 Workforce: ~3,500 Company Working: LSIS Co. Ltd is engaged in the business of providing electrical power products including switch gears, transformers, electronic meters, gearbox, PLC, human-machine interfaces (HMIs), high voltage direct current (HVDC), and flexible AC transmission systems (FACTS). It offers products and solutions for smart power transmission and distribution and industrial automation. The company operates through three business segments, namely, electricity, automation, and metal pipe. It supplies contactors under its electricity business segment. LSIS Co. Ltd has branches in several countries, including South Korea, China, Japan, Thailand, Vietnam, Russia, Indonesia, Spain, Germany, Romania, Turkey, Singapore, the US, Brazil, Mexico, and Ukraine. It has manufacturing factories in South Korea, China, and Vietnam. Additionally, the company has research and development centers in South Korea and China. LS Metal Co., Ltd (South Korea), LS Industrial Systems (Dalian) Co., Ltd (China), LS Industrial Systems (Middle East), FZE (UAE), LS IS Japan Co., Ltd (Japan), and LSIS USA Inc. (US) are some of its subsidiaries.

Revenue$1.9B
Employees3,500
Market CapN/A
Founded1973
Gyeonggi-do, South Korea
TE CONNECT

TE CONNECTIVITY

Energy & Power

Company Headquarters: Schaffhausen, Switzerland Founded: 2007 Workforce: ~80,000 Company Working: TE Connectivity designs and manufactures connectivity and sensor products for harsh environments. It caters to several industries, including automotive, industrial equipment, aerospace, defense, medical, oil & gas, consumer electronics, and energy. The company operates through three business segments, namely, transportation solutions, industrial solutions, and communications solutions. The industrial solutions segment offers downhole cables with a broad range of low and medium voltages. The company serves customers in approximately 140 countries across the Americas, Europe, Asia, and the Middle East & Africa. Measurement Specialties, Inc., Hirschmann Car Communication GmbH, Alpha Sensors, Inc., ADC Communications (SEA) Pte. Ltd, AdvancedCath Inc., MicroGroup, Inc., and Kissling Elektrotechnik GmbH are some of its subsidiaries.

Revenue$11.5B
Employees80,000
Market CapN/A
Founded2006
Schaffhausen, Switzerland
CG POWER A

CG POWER AND INDUSTRIAL SOLUTIONS LIMITED

Energy & Power

CG Power and Industrial Solutions Limited is a leading company that is engaged in supplying products, such as switchgear, transformers, motors, drives, power automation products, control gears, and circuit breakers. It operates through two business segments, namely, power systems, and industrial systems. The company offers traction transformers in the special transformers product category under the power system segment. Instrument transformers, reactors, switchgear, circuit breakers, vacuum interrupters, transmission & distribution turnkey systems, and automation control systems are some of the other key products also offered by the company under the power system business segment. CG Power and Industrial Solutions Limited has a presence in several countries across the world, including Australia, China, Indonesia, India, New Zealand, the UAE, Belgium, France, Ireland, Saudi Arabia, Kuwait, Germany, the Netherlands, Sweden, Spain, the UK, Brazil, and the US. It has manufacturing offices in many countries, including India, Belgium, France, Indonesia, Hungry, Ireland, the UK, and the US. The company has a research and development center located in India. The company is a subsidiary of Avantha Group (India). CG-PPI Adhesive Products Limited (India), CG Power Equipment Limited (India), CG Holdings Belgium N.V. (Belgium), CG Sales Networks France SA (France), CG Power Systems Canada Inc. (Canada), CG Power USA Inc. (US) are some of its subsidiaries.

Revenue$0.4B
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
MITSUBISHI

MITSUBISHI ELECTRIC CORPORATION

Energy & Power

Company Headquarters: Japan Founded: 1921 Workforce: ~ 146,518 Company Working: Mitsubishi Electric Corporation is a multinational electronics and electrical equipment company. Mitsubishi Electric Corporation has a diverse range of products and services, including power generation and transmission systems, industrial automation systems, electronic devices, home appliances, information and communication systems, and space systems. Its products are used in a wide range of industries, including automotive, aerospace, energy, and telecommunications. Mitsubishi Electric Corporation is a major player in the robotics arms market, with a range of products that includes SCARA robots, vertical articulated robots, and collaborative robots. The company's robots are designed to be highly versatile and easy to integrate with other systems, making them suitable for a wide range of applications. Mitsubishi Electric Corporation's robots are known for their precision and speed, and they are used in a variety of industries, including automotive, electronics, and food and beverage. The company has a strong focus on research and development, and it invests heavily in developing new technologies and improving existing ones. This has enabled Mitsubishi Electric Corporation to remain competitive in the robotics arms market and to meet the evolving needs of its customers. In addition to its robotics arms products, Mitsubishi Electric Corporation also offers a range of other automation solutions, including programmable logic controllers, human machine interfaces, and industrial robots. The company's commitment to innovation, quality, and customer satisfaction has helped it to establish a strong reputation in the global automation industry. The company has grown to become one of the largest and most respected electronics companies in the world, with operations in over 40 countries and regions.

Revenue$37.8B
Employees146,518
Market CapN/A
Founded1920
Japan
EATON

EATON

Energy & Power

Company Headquarters: Ireland Founded: 1911 Workforce: ~ 1, 01,000 Company Working: Eaton Corp PLC is a power Management Company with business operations in over 175 countries. It operates through the segments of Electrical Products, Electrical Systems and Services, Vehicles, Hydraulics, Aerospace, and EMobility, The Electrical Products segment consists of single-phase power quality, emergency lighting, fire detection, wiring devices, electrical components, industrial components, residential products, structural support systems, circuit protection, and lighting products. The Electrical Systems and Services segment offers hazardous duty electrical equipment, power distribution and assemblies, utility power distribution, power reliability equipment, three-phase power quality, explosion-proof instrumentation, and services. The Hydraulics segment includes hydraulics components and services for industrial and mobile applications. The Aerospace segment produces aerospace fuel, hydraulics, and pneumatic systems for commercial and military use. The Vehicle segment designs manufacture and markets drivetrain and powertrain systems that reduce emissions and improve fuel economy, stability, performance, and safety of passenger cars and commercial vehicles. The eMobility segment is engaged in designing, manufacturing, marketing, and supplying electrical and electronic components and systems of both on-road and off-road vehicles. Eaton Corp PLC operates within the markets of Asia, Europe, the Middle East and Africa, North America, and Central and South America

Revenue$17.9B
Employees1,000
Market CapN/A
Founded1910
Ireland
ABB Group

ABB Group

Energy & Power

Company Headquarters: Switzerland Founded: 1988 Workforce: ~ 105,100 Company Working: ABB Group (ABB) has various segments, including electrification products, industrial automation, motion and robotics and discrete automation. The company’s product offering includes control room solutions, drives, programmable controller (PLC) automation, semiconductors, motors & generators, metallurgy products, high & medium voltage products, robotics, transformers, and mechanical power transmitter. ABB's robotics arm is one of the company's key business segments, offering a range of robotics solutions for various industries, including automotive, food and beverage, and electronics. ABB's robotics arm is a leader in the industrial robotics market, with a strong reputation for delivering high-quality, reliable solutions that improve productivity and efficiency. ABB's robotics arm offers a diverse range of products, including articulated, SCARA, and collaborative robots, as well as software and services that support robot deployment and operation. The company's robotics solutions are designed to help customers automate a wide range of tasks, from assembly and material handling to painting and welding. In addition to its strong product portfolio, ABB's robotics arm has established a reputation for innovation and has been at the forefront of developing new robotics technologies. For example, the company has developed a dual-arm collaborative robot that can work alongside humans, as well as a range of advanced sensors and vision systems that enhance robot performance. ABB also offers HVDC, FACTS, UPS & power conditioning, network management solutions, and smart building solutions. The company offers its products to automotive, construction, food & beverage, oil & gas, buildings & infrastructure and mining industries through the direct sales channel, distributors, wholesalers, and original equipment manufacturers (OEMs). The company operates across 100 countries in the Americas, Europe, Asia, the Middle East, and Africa.

Revenue$26.1B
Employees105,100
Market CapN/A
Founded1987
Switzerland
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About the Author

Energy & Power Research Team

Energy & Power

This report comes from Wantstats' energy team — analysts who spend their days tracking utility filings, generation capacity, and grid investment plans across markets most research glosses over. Every number here has been checked against our own databases and validated through conversations with people actually running these projects.

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I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Contactors market Market

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