Electrification of the Automotive Industry Drives Growth in the EV Battery Contactor Market

SkyQuest’s EV Battery Contactor Market report provides actionable insights for individuals interested in valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is produced and published concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.

Westford, USA,, April 24, 2023 (GLOBE NEWSWIRE) — SkyQuest projects that the EV Battery Contactor Market will attain a value of USD 12.45 billion by 2030, with a CAGR of 12.98% over the forecast period (2022-2030). The market is expanding due to the sharp increase in demand for electric vehicles in all countries worldwide by moving towards clean energy sources to reduce pollution. The demand for battery contactors will increase as more people worldwide are switching toward electric vehicles. Along with the demand, worldwide governments worldwide has enforced stringent laws and offered several incentives to encourage consumers to switch from traditional vehicles to electric vehicles. Incentives such as tax credit subsidies have therefore contributed to the rise in popularity of electric vehicles, which in turn has fueled the market for EV battery contactor.

An electrical switch known as an EV battery contactor allows or prohibits the flow of current between the battery and the car’s balance. It is essential to electric vehicles since it guarantees the battery’s safety and results in effective operation. The contactor is often composed of strong, heat-resistant materials and designed to handle high-voltage and high-current levels. It is activated by the vehicle’s control system, which sends a signal to the contractor to close and open the circuit depending on vehicle’s operational mode. Electric vehicle safety and dependability is greatly enhanced by the EV battery contractor. Separating the battery when the car is not in use or in the event of an accident prevents occurrence of electrical shock and other safety risks.

Get sample copy of this report:

https://www.skyquestt.com/sample-request/ev-battery-contactor-market

Browse in-depth TOC on “EV Battery Contactor Market”

• Pages – 242
• Tables – 89
• Figures – 63

EV battery contactors are growing in popularity due to their ability to provide several benefits, including safety, efficiency, reliability, adaptability, and cost-effectiveness. However, the unintended discharge of high voltage batteries in the devices concerns the consumers due to shock emission or fire threats. To limit the risk of electrical shock or fire threats, high-voltage batteries are equipped with battery contractors that prevent unintended discharge. Also, the battery power is discharged to the motor only when required. Since energy conservation is a major concern for several nations around the world, the benefit of EV battery contractors can facilitate in lessening energy waste and increasing the driving range of their EV fleets.

Prominent Players in EV Battery Contactor Market

• TE Connectivity
• Hella
• Fujitsu
• Eaton
• Panasonic
• Tyco electronics
• gigavac

Electric Two-Wheelers Segment in the EV Battery Contactor Market Is Expected to Grow Due to its Cost Effectiveness

The electric two-wheelers segment held the largest global market share due to the wide variety of advantages that EV battery contactor offers. It can provide benefits such as safety, efficiency, dependability, flexibility and cost-effectiveness. North America is expected to dominate the EV battery contactor market. Major market players’ existence, expanding demand and popularity, offering several benefits, and other factors have all played a significant role in this forecast period.

Browse summary of the report and Complete Table of Contents (ToC):

https://www.skyquestt.com/report/ev-battery-contactor-market

Electric Truck Segment Continues to Increase Due to Increasing Demand for High-Performance EV Battery Contactors

The market is expanding significantly, with a significant contribution coming from the electric truck segment. The adoption of electric trucks is expanding globally due to the rising demand for environmentally friendly transportation options and government attempts to minimize carbon emissions. Electric trucks need high-performance battery contactors to ensure the secure and effective operation of their battery systems.

Asia Pacific is expected to grow the fastest during the forecast period. In the Asia Pacific region, particularly in China and Japan, corporate acquisition is rising. EV adoption has doubled throughout Asia Pacific over the last three years. Additionally, several operators are investing in client services such as high-speed operations in fleets affordable prices, which will likely enhance demand for EV battery contactor in the region.

A comprehensive analysis of the major players in the EV Battery Contactor market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

Key Developments in EV Battery Contactor Market

• In May 2022, The battery disconnect unit was introduced by Eatone World, the leading energy management firm, and its Immobility division. The battery disconnect unit can be used with modernized breakout circuit protection technology to help with electric vehicle circuit protection while generally lowering complexity and expense.
• In June 2020, Sensata Technologies announced the availability of its new GV210 series of hermetically sealed, gas-filled contactors. The series is the latest addition to Sensata’s GIGAVAC brand product line, and it can be used as a pre-charge contactor in larger battery packs applications such as utility-scale energy storage and large EVs, as well as a leading contractor in applications like forklifts, home energy storage and small EVs.

Speak to Analyst for your custom requirements:

https://www.skyquestt.com/speak-with-analyst/ev-battery-contactor-market

Key Questions Answered in EV Battery Contactor Market Report

• What specific growth drivers are projected to impact the market during the forecast period?
• List the top companies in the market and explain how they have achieved their positions of influence?
• In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?

Related Reports in SkyQuest’s Library:

U.S. Welding Consumables Market 

Global Transformers Market

Global Bottle Filling Machine Market

Global Hybrid Fuel Pump Market 

Global HVDC Converter Market 

About Us:

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

Address:

1 Apache Way, Westford, Massachusetts 01886

Phone:

USA (+1) 617-230-0741

Email: [email protected]

LinkedIn Facebook Twitter

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.