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Low Voltage Industrial Controls - Global Market Trajectory & Analytics

  • ID: 4805584
  • Report
  • January 2021
  • Region: Global
  • 294 pages
  • Global Industry Analysts, Inc
Automation Pushes Up the Focus on Effective & Efficient Industrial Control Systems. Low Voltage Industrial Controls to Reach US$ 1 Billion.

The global market for Low Voltage Industrial Controls is projected to reach US$ 1 billion by the year 2027, trailing a post COVID-19 CAGR of 4.5% over the analysis period 2020 through 2027. Confluence of myriad industry 4.0 technologies will drive a quick post COVID-19 recovery and a healthy outlook for industrial controls. Modern industrial facilities use a host of control circuits for motor control, instrumentation signals, equipment controls, plant process schemes etc. The growing push towards energy efficient systems brings the promise of great opportunity for low voltage industrial controls. Tough & competitive business climate, post COVID-19 will exert pressure on manufacturing plants to maximize facility uptime & productivity, driving opportunities for new upgrades and replacement. Low voltage industrial controls not only efficiently control machines and cut back on energy usage, but also ensure safety. Since most machines are run using electric motors, well controlled power supply is necessary for smooth, efficient and optimal functioning of machines without causing any damage to the machinery. Circuit breakers, motor starters, relays, and other industrial control products enable machines to operate efficiently and smoothly despite the voltage fluctuations. Low voltage industrial controls find use primarily in manufacturing and process industries, besides being used in a wide range of transportation, commercial and residential applications. These controls help improve efficiency and reliability of processes, machines and applications across all key industries. Equipment such as electronic circuits and modules that find use in manufacturing units for operating different types of machines, also find use in automotive and residential sectors. Key product types of low voltage industrial controls analyzed in the report include circuit breakers, contactors & relays, motor starters, thermal overload relays, and other products.

The market for low-voltage industrial controls, in the post COVID-19 period, will be driven by the 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. Key attractions for the market include the growing demand for power and for cost-effective electronic systems. Large-scale smart city development projects that are underway will also lead to increasing demand for a wide range of smart electrical machines and devices. These low voltage devices not only consume less power but also avert damages resulting from power fluctuations by providing current stability. There are also several countries working towards boosting their power generation capabilities in order to fulfill the increasing demand for energy, which is leading to an increase in demand for low-voltage industrial controls. These easy-to-install, compact in size devices help increase productivity, maximize efficiency, optimize facility uptime, and prevent malfunctions arising from unstable power distribution. While the umpteen benefits are fueling demand across various end-use sectors and industries, the rising cost of raw material is posing a drawback for the market/ Process industry and Manufacturing sector remain the largest application markets of LV industrial controls, accounting for 33.9& and 25.9% respectively in 2020. Aerospace & Defense is the fastest growing application industry over the analysis period.

Widespread adoption of LV industrial control systems in the U.S. is mainly attributed to large manufacturing base, wider preference for advanced technology solutions in manufacturing environments, and federal regulations governing the manufacturing ecosystem. Europe is the second largest regional market for LV industrial control, accounting for 1/5th share in 2020. Although developed regions represent the major sales contributors, growth in the approaching years, however, is expected to be driven by developing regions, particularly China and Asia-Pacific. The market for LV industrial control in China is estimated at US$ 120.8 million for the year 2020 and projected to reach US$ 181.8 million by 2027, trailing at fastest CAGR of 6% over the review period 2020-2027. 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. China has rapidly transformed into a manufacturing hub, led primarily by rapidly flourishing infrastructural and industrial sector. With overheads such as labor costs accounting for significant portion of overall cost structure, manufacturers from across diverse industry segments such as automotive and electronics are under constant pressure to establish production bases in regions/countries that offer easy access to cheap labor and raw materials. Accordingly, manufacturers have increasingly targeted low-cost countries, particularly China for setting up production facilities to effectively tackle escalating production costs, and thereby gain competitive edge over rivals and serve expanded customer base. The increasing number of manufacturing facilities in industries such as pharmaceuticals, automotive, power and textiles are in turn driving demand for LV industrial control market in China.

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.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • COVID-19 Impact on the Low Voltage Industrial Controls Market
  • EXHIBIT 1: 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
  • EXHIBIT 2: World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Limited Market Opportunities Amid Subdued Industrial Activity
  • EXHIBIT 3: Global PMI Index Points for the Years 2018, 2019 & 2020
  • EXHIBIT 4: Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
  • EXHIBIT 5: 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
  • EXHIBIT 6: 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
  • EXHIBIT 7: World Low Voltage Industrial Controls Market (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
  • EXHIBIT 8: 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
  • EXHIBIT 9: 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
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Process Industry & Manufacturing: Major End-Use Verticals
  • Digital Transformation Drive to Accelerate Uptake
  • EXHIBIT 10: Global Digital Transformation Spending (In US$ Trillion) for the Years 2019 through 2023
  • Relevance in Aerospace & Defense Sector
  • EXHIBIT 11: Global Airlines Performance by Region: 2020 Vs 2019
  • EXHIBIT 12: 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
  • EXHIBIT 13: 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
  • EXHIBIT 14: 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
  • EXHIBIT 15: Global Investments in Industrial IoT (IIoT) Platforms (In US$ Million) for the Years 2018, 2022 and 2025
  • EXHIBIT 16: Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
  • Increased Role of Automation in Automotive Industry Augurs Well
  • EXHIBIT 17: 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
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 147
Note: Product cover images may vary from those shown
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