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Low Voltage Industrial Controls - Global Market Trajectory & Analytics

  • ID: 4805584
  • Report
  • February 2022
  • Region: Global
  • 441 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Ltd.
  • Chint Group Co., Ltd.
  • Eaton Corporation plc
  • Fuji Electric Co., Ltd.
  • General Electric Company
  • Rockwell Automation, Inc.

Global Low Voltage Industrial Controls Market to Reach $958 Million by 2026


Low voltage industrial controls not only efficiently control machines and cut back on energy usage, but also ensure safety. Growth in the global is set to be driven by rapid urbanization and industrialization; popularity and adoption of renewable sources of energy; growing renovation, expansion works in distribution and transmission network; and increasing demand for electrical distribution systems that are safe and secure. Another key factor that is anticipated to drive long term growth is the use of industrial controls by the technology applications and devices market, which is witnessing growing demand, in turn causing the demand to increase for industrial controls. The low voltage industrial controls market also stands to benefit from the push towards energy efficient systems. Meanwhile, market growth will also be strengthened due to the rising demand for fuses, enclosure, change-over switches, residual current devices and several other switching systems.

Amid the COVID-19 crisis, the global market for Low Voltage Industrial Controls estimated at US$737.3 Million in the year 2020, is projected to reach a revised size of US$958 Million by 2026, growing at a CAGR of 4.5% over the analysis period. Circuit Breakers, one of the segments analyzed in the report, is projected to grow at a 4.9% CAGR to reach US$372.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Contactors & Relays segment is readjusted to a revised 4.3% CAGR for the next 7-year period. This segment currently accounts for a 22.5% share of the global Low Voltage Industrial Controls market. Circuit breakers, used to control the abrupt increase and decrease in the supply of current to electrical devices, is the largest segment, driven by widespread use in the electrical devices market and escalating demand from smart city and other projects. A contactor may be defined as an electrically operated switch, designed for making or breaking contacts, which a traditional switch also does. However, its difference from a conventional switch is that it has an electromagnet to hold all contacts and functions like a relay. Relays are switches used primarily to protect equipment and come with two circuits namely, control and power circuits.



The U.S. Market is Estimated at $205.9 Million in 2021, While China is Forecast to Reach $170.5 Million by 2026


The Low Voltage Industrial Controls market in the U.S. is estimated at US$205.9 Million in the year 2021. The country currently accounts for a 27.36% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$170.5 Million in the year 2026 trailing a CAGR of 6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market (as defined in the study) will reach US$181.8 Million by the end of the analysis period. Widespread adoption of LV industrial control systems in the US is mainly attributed to large manufacturing base, wider preference for advanced technology solutions in manufacturing environments, and federal regulations governing the manufacturing ecosystem. Another key market, China has rapidly transformed into a manufacturing hub, led primarily by rapidly flourishing infrastructural and industrial sector. Anticipated steady economic growth and rising GDP, favorable government policies, and rapid industrialization bodes well for the growth of LV industrial control systems in the country.

Motor Starters Segment to Reach $172.9 Million by 2026


A motor starter finds use in safely starting and shutting down a motor, while also reversing its direction. An electrical device somewhat similar to relays, a motor starter switches and shuts off power, while also providing protection from both overcurrent and low voltage situations in motors. In the global Motor Starters segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$89.7 Million in the year 2020 will reach a projected size of US$124.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$23.9 Million by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.

Select Competitors (Total 45 Featured) -

  • ABB Ltd.
  • Chint Group Co., Ltd.
  • Eaton Corporation plc
  • Fuji Electric Co., Ltd.
  • General Electric Company
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Schneider Electric SE
  • Siemens AG
  • WEG S.A.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Low Voltage Industrial Controls

What is the estimated value of the Global Market for Low Voltage Industrial Controls?

The Global Market for Low Voltage Industrial Controls was estimated to be valued at $737.3 Million in 2020.

What is the growth rate of the Global Market for Low Voltage Industrial Controls?

The growth rate of the Global Market for Low Voltage Industrial Controls is 4.5%, with an estimated value of $958.0 Million by 2026.

What is the forecasted size of the Global Market for Low Voltage Industrial Controls?

The Global Market for Low Voltage Industrial Controls is estimated to be worth $958.0 Million by 2026.

Who are the key companies in the Global Market for Low Voltage Industrial Controls?

Key companies in the Global Market for Low Voltage Industrial Controls include ABB Ltd., Chint Group Co., Ltd., Eaton Corporation plc, Fuji Electric Co., Ltd., General Electric Company, Mitsubishi Electric Corporation, Rockwell Automation, Inc., Schneider Electric SE and WEG S.A..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • Chint Group Co., Ltd.
  • Eaton Corporation plc
  • Fuji Electric Co., Ltd.
  • General Electric Company
  • Rockwell Automation, Inc.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Impact on the Low Voltage Industrial Controls Market
  • Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP and LV Industrial Controls
  • World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Limited Market Opportunities Amid Subdued Industrial Activity
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
  • Business Climate Indicator (BCI) in the Euro Area for the Period June 2019 to May 2020
  • An Introduction to Low Voltage (LV) Industrial Controls
  • Circuit Breaker
  • Contactors & Relays
  • Motor Starters
  • Thermal Overload Relays
  • LV Industrial Controls: Current Market Scenario and Outlook
  • World Low Voltage Industrial Controls Market by Application (2020 & 2027): Percentage Breakdown of Sales for Process Industry, Manufacturing, Transportation, Aerospace & Defense, and Other Applications
  • Effects of the Pandemic
  • Recent Market Activity
  • While Developed Regions Lead the LV industrial control Adoption, Developing Regions Emerge as Hot Spots for Future Growth
  • World Low Voltage Industrial Controls Market (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
  • World Low Voltage Industrial Controls Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
  • Analysis by Product Type: Circuit Breakers, the Largest Segment
  • World Low Voltage Industrial Controls Market by Product (2020 & 2027): Percentage Breakdown of Sales for Circuit Breakers, Contactors & Relays, Motor Starters, Thermal Overload Relays, and Other Products
  • Low Voltage Industrial Controls - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Process Industry & Manufacturing: Major End-Use Verticals
  • Digital Transformation Drive to Accelerate Uptake
  • Global Digital Transformation Spending (In US$ Trillion) for the Years 2019 through 2023
  • Relevance in Aerospace & Defense Sector
  • Global Airlines Performance by Region: 2020 Vs 2019
  • With the Aviation Industry on the Brink of Annihilation, Aircraft Assembly Lines Will Take a Longer Time to Recover: Expected Revenue Losses in Global Aviation (In US$ Billion) for April, July & December 2020
  • Global Fleet Size of Commercial Aircraft by Region (in Units) for the Years 2018 and 2038
  • Automation Trends Favor Growth
  • Industry 4.0 to Give Market Impetus
  • Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
  • Low Voltage Sensor Technology for Easy Monitoring and Control of Energy Sources
  • IoT Sensors Improve Functionality of Industrial Controls
  • Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
  • Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
  • Increased Role of Automation in Automotive Industry Augurs Well
  • World Automobile Production in Million Units: 2008-2022
  • Sustained Emphasis on Workplace Safety in Mining Sector Bodes Well
  • Technology Advancements to Give Impetus to Market Expansion in the Long-Term

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Low Voltage Industrial Controls Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 45
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • Chint Group Co., Ltd.
  • Eaton Corporation plc
  • Fuji Electric Co., Ltd.
  • General Electric Company
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Schneider Electric SE
  • Siemens AG
  • WEG S.A.
Note: Product cover images may vary from those shown