The global and Chinese economies were hit hard in 2020, and the global GDP grew by 5.9% in 2021. Although the global growth prospects improved and there was a V-shaped rebound, this does not mean that the economy has really recovered to the level before the epidemic. The vast majority of countries are still in the stage of recovery after heavy damage and are far from achieving real recovery.
2022 is a year of continuous recovery. Global supply chain disturbance, geopolitical tension, energy price fluctuation, local labor shortage and rising raw material prices will affect the resilience of economic recovery. The International Monetary Fund (IMF) predicts that the world economy will grow by 4.4% in 2022, of which the U.S. economy will grow by about 4%. Driven by China and India, Asia is expected to become the fastest growing region in the world in 2022. However, China's economic growth has slowed down. The 2022 government work report shows that the expected target of economic growth is set at about 5.5%.
According to research, China has set a growth rate of about 5.5%, which not only focuses on the speed of economic growth, but also anchors the quality of economic development. Scientific and technological innovation, economic and social digitization and green development will be the long-term goals of China's economic development. It is expected that in 2022, major economies such as the United States, Europe and China will introduce more favorable policies to drive the development of switching power supply industry.
Beijing Yanjing Bizhi Information Consulting Co., Ltd. （XYZResearch）released the 《Post-pandemic Era-Global Low-voltage Electrical Contacts and Contact Materials Market Analysis 2022, With Top Companies, Production, Revenue, Consumption, Price and Growth Rate》, which aims to sort out the development status and trends of the Low-voltage Electrical Contacts and Contact Materials industry at home and abroad, estimate the overall market scale of the Low-voltage Electrical Contacts and Contact Materials industry and the market share of major countries, Low-voltage Electrical Contacts and Contact Materials industry, and study and judge the downstream market demand of Low-voltage Electrical Contacts and Contact Materials through systematic research, Analyze the competition pattern of Low-voltage Electrical Contacts and Contact Materials, so as to help solve the pain points of various stakeholders in Low-voltage Electrical Contacts and Contact Materials industry. This industry research report combines desktop research, qualitative interviews with insiders or experts and other methods to strive for the objectivity and integrity of conclusions and data.
Regional Segmentation (Value; Revenue, USD Million, 2018-2028) of Low-voltage Electrical Contacts and Contact Materials Market by XYZResearch Include
Middle East & Africa
Competitive Analysis; Who are the Major Players in Low-voltage Electrical Contacts and Contact Materials Market?
Electrial Contacts Limited
Shanghai Xiaojing Alloy Material
Foshan Noble Metal Technology
Major Type of Low-voltage Electrical Contacts and Contact Materials Covered in XYZResearch report:
Application Segments Covered in XYZResearch Market
Universal Circuit Breaker
Plastic Case Circuit Breaker
Miniature Circuit Breaker
Residual Current Operated Circui Breaker
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