The global low voltage protection and control market is projected to reach a size of USD 19.8 billion by 2025, at a CAGR of 5.97%, from an estimated USD 13.2 billion in 2018. This growth can be attributed to factors such as growth in the demand for renewable energy sources, growing per capita consumption of energy, and safe and secure electrical systems.
The major players in the global low voltage protection and control market are ABB (Switzerland), Eaton (Ireland), Fuji Electric co. ltd (Japan), Hitachi (Japan), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), Yaskawa (Japan), CHINT Group (China), WEG SA (Brazil), Legrand (France), Toshiba (Japan), and Emerson Electric Co. (US).
Key Questions addressed by the report
- The report identifies and addresses key markets for low voltage protection and control, which would help manufacturers review the growth in demand.
- The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
- The report will help key players understand the strategies of their competitors better and make better strategic decisions.
- The report addresses the market share analysis of key players in low voltage protection and control market, and with the help of this, companies can enhance their revenues in the respective market.
- The report provides insights about emerging geographies for low voltage protection and control market, and hence, the entire market ecosystem can gain competitive advantage from such insights.
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The industrial segment is expected to be the largest contributor during the forecast period.
The low voltage protection and control market by end-use is segmented into residential, commercial, and industrial users. The industrial segment includes industries such as oil & gas, marine, mining, food & beverage, data center, EV charging, solar, wind, microgrid, and rail. The industrial segment is expected to dominate the low voltage protection and control market by 2025 with the increasing installation of electric vehicle charging stations, data centers, and renewable energy installations. EV charging stations are expected to have the highest growth rate with several countries offering incentives and increased sales of electric vehicles.
Asia Pacific is expected to account for the largest market size during the forecast period.
In this report, the low voltage protection and control market has been analyzed with respect to 5 regions, namely, North America, Europe, South America, Asia Pacific, and the Middle East & Africa. The market in Asia Pacific is estimated to be the largest market from 2018 to 2025. China and India are among the fastest growing countries in the world with rising per capita consumption of energy due to increased industrialization and manufacturing. The countries have seen rapid infrastructure development during the past years.
- In March 2018, Rockwell introduced Workbench software version 11 to provide a single design environment for the programming of Micro870 PLC. The software can also be used to configure Allen-Bradley PanelView 800 graphic terminals, PowerFlex AC drives, Kinetix component servo drives, electronic overload relays, light curtains, and configurable safety relays.
- In February 2018, Siemens AG announced the launch of its new generation of soft starters to simplify the demanding drive requirements. The new Sirius 3RW5 soft starter is of 3-phase asynchronous motors from 5.5 to 1,200 kW.
- In July 2017, Eaton launched its new Air Replacement (AR) series circuit breakers that are made to replace vintage DS and DSII series circuit breakers across low-voltage power applications, including the power generation, industrial, commercial, and healthcare sectors.
- In October 2016, Rockwell Automation, Inc expanded the Allen Bradley Bulletin 140G Molded Case Circuit Breakers to offer more comprehensive, fast-acting short-circuit protection, and protection against overload and ground-fault conditions. It will help engineers to achieve higher short circuit ratings in the control panel because of their current-limiting ability and reduce the energy let-through by more than 50%.
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