Lighting Contactor Market Global Analysis and Industry Expansion Strategies 2023

Posted by sneha patil on November 27th, 2020

Market Analysis 

The global lighting contactor market size is predicted to grow at a healthy 8.25% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. A contactor, simply put, is a switch that is electrically controlled and is used for switching the electrical power circuits. Its key function is to control circuits having higher voltages that otherwise can be hazardous when controlled directly. A lighting contactor has a rugged construction, assorted choice of accessories and control options, and heavy duty ratings due to which it has wide applications in different outdoor and indoor applications. It is of two types- outdoor and indoor. Mechanically and electrically held are its two types of installation. This electrically controlled switch has been designed for controlling the electricity flow and to offer a safe, convenient means for remote or local switching of ballast or tungsten lamp loads. 

Various factors are propelling the global Lighting Contactor Market share. According to the recent MRFR report, such factors include the development of smart cities, growing adoption of IoT in the lighting industry, rising adoption of lighting solutions that are energy-efficient, and increasing use of lighting contactors from electronics sector, smart residential complex, industrial, municipal, and commercial sectors. 

On the contrary, lack of standard regulatory framework, high installation cost, and the on-going COVID-19 impact are factors that may impede the global lighting contactor market growth over the forecast period. 

Get Full Access to this Report @ https://www.marketresearchfuture.com/reports/lighting-contactor-market-6967 

Key Players

Eminent players profiled in the global lighting contactor market report include Federal Electric (US), Hager (Germany), Sprecher Schuh (US), Acuity (US), Eaton (Ireland), Legrand (France), Schneider Electric SE (France), ABB Ltd (Switzerland), Rockwell Automation (US), and Siemens AG (Germany). Industry players have encompassed strategies such as acquisitions and mergers, collaborations, partnerships, joint ventures, extensive R&D activities, geographic expansions, new product launches, new product developments, contracts, and others to stay at the forefront. 

Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global lighting contactor market based on end user, installation, and type. 

By type, the global lighting contactor market is segmented into outdoor and indoor. Of these, the indoor segment will lead the market over the forecast period. The growing requirement for proper lighting control system in the commercial, industrial, and residential applications is adding to the growth of the segment. 

Based on the installation, the global lighting contactor market is segmented into mechanically and electrically held. Of these, the electrically held segment will dominate the market over the forecast period as these contractors operate quietly as well as consume less energy. 

By end user, the global lighting contactor market is segmented into commercial, industrial, residential, and others. Of these, the commercial and industrial segments will have a major share in the market over the forecast period. 

Regional Analysis

Based on the region, the global lightning contactor market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Among these, Europe is projected to dominate the market during the forecast period. Growing demand for energy-efficient lighting systems, increasing green city projects, and favorable initiatives undertaken by the government to use smart lighting system for efficient power consumption are adding to the global lightning contactor market growth in the region. 

The global lightning contactor market in North America is predicted to hold the second-largest share over the forecast period. The US holds the utmost share in the market. 

The global lightning contactor market in the APAC region is predicted to have sound growth during the forecast period and in Latin America as well as the MEA is predicted to have moderate growth over the forecast period. 

Table Of Content

  1. Publisher Report Introduction
  2. Market Overview
  3. Product Details
  4. Sales Assessment
  5. Patent Details
  6. Global Manufacturers Assessment
  7. Market Competition
  8. Emerging Therapies
  9. SWOT Analysis

If you have any requirements, let know and we will customize the report according to your need. 

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sneha patil

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sneha patil
Joined: November 11th, 2020
Articles Posted: 79

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