Low Voltage Protection Control Industry Report 2020-2025: Focus on Monitoring Devices, Protection and Switching Equipment
DUBLIN, Sept. 1, 2020 /PRNewswire/ -- The "Low Voltage Protection Control Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
The global market for low voltage protection control is expected to grow at a CAGR of over 2.5% during the forecast period of 2020-2025.
Factors such as an increase in power consumption, rise of an influx of renewable sources in the energy mix, along with a rising number of data centers and electric vehicles are expected to drive the market in the forecast period. On the other hand, high cost of monitoring devices and rise in the stability of electricity supply thereby reducing the need for switching equipment's like circuit breakers is likely to restrain the growth of the low voltage protection control market in the coming years.
The industry is fragmented. Some of the major players includes ABB Ltd, Eaton Corporation PLC, Fuji Electric Co Ltd, Rockwell Automation, and Toshiba Corporation.
Market Highlights
-- Industrial sector is expected to be the largest segment during the
forecast period, with majority of the demand coming from industries like
oil and gas, power, data centers, telecom, etc.
-- With the increasing closures of fossil-fueled generation, an influx of
wind, solar, small-hydro, and other renewables-based power generation,
rising electric vehicle and heat pump demand, and increasing export
requirements via interconnectors have resulted in increased requirements
for installation of transmission and distributions (T&D) lines, creating
several opportunities for the major companies.
-- Asia-Pacific has dominated the low voltage protection control market in
recent years and is expected to witness significant market growth in the
forecast period, with majority of the demand coming from China and
India.
Key Trends
Industrial Sector to Dominate the Market
-- The motor or generator protection is still a novelty, and still not a
priority among users. The high numbers of faults that occur in
industries are mainly due to overloads, locked rotor, phase failure or
imbalance, heavy bursts of long duration or high duty cycle of
operations or overheating.
-- Hence, to overcome these faults, there are certain switchgear
equipment's used in any sector such as circuit breakers, disconnectors,
load-break switches, and fuses etc.
-- Factors such as growing electric vehicle infrastructure (EV's) and data
centers establishments along with its operations are expected to drive
the low voltage DC circuit breakers, which, in turn, drives the
industrial segment for low voltage protection control market.
-- With rising electrification projects in Africa, the focus has increased
on investments and the development of renewable energy. As a result, the
extensive development of new renewable projects, and rising electricity
usage is expected to increase the demand for low voltage protection
control market.
-- Major companies like ABB Ltd, Siemens AG, etc. provides a full range of
low voltage solutions to connect, protect, control, and measure a wide
range of electrical installations, enclosures, switchboards,
electronics, and electromechanical devices. For example, the main
products that ABB provides under oil and gas industry were power
distribution equipment, industrial & explosion proof cable protections
systems, E-houses, Integration, and optimization etc.
-- In the industrial sector, users of switchgears are available in
industrial load applications. Oil and gas, pharmaceuticals, power,
paper, data centers are the major industries that are expected to drive
the market because protection and control can be handled through these
equipment's.
-- Therefore, based on the above-mentioned factors, industrial sector is
expected to dominate the market during the forecast period.
Asia-Pacific to Dominate the World Market
-- Asia-Pacific has dominated the low voltage protection control market, in
2019 and is expected to continue its dominance in the coming years as
well.
-- Asia-Pacific is one of the fastest-growing regions in the world because
of the increasing population, urbanization, and industrialization. As a
result, the demand for guaranteed power supply is high. For addressing
these demands, many countries are investing in the renewable energy
sector and transmission and distribution infrastructure.
-- As per the International Energy Agency (IEA), the world's most populated
country China is likely to install 36% of total worldwide
hydroelectricity generation capacity and 40% of all global wind energy
between 2015-2021. Already, China has over 259,000 MW of new coal plants
in various stages of development and accounts for more than 1/3 of the
global coal plant pipeline.
-- China has taken the lead over global peers in data center construction,
with more enterprises looking to scale up their data centers to ensure
the reliability and stability of data services. In 2018, the total data
center market size of China stood at approximately USD 18 billion,
representing an increase of almost 30% over the previous year.
-- On the other hand, India's data center and telecom industries are
thriving. The country contains several data center clusters providing
plenty of colocation opportunities. The primary colocation data center
markets in India are Mumbai, Bangalore, Chennai, Hyderabad, and New
Delhi.
-- Moreover, India is investing heavily in the renewable sector heavily,
with USD 11.1 billion invested in 2018 alone. Most of these investments
were directed towards the development of wind and solar farms.
-- Therefore, based on these factors, Asia-Pacific region is likely to
propel the demand for low voltage protection control market during the
forecast period.
Key Topics Covered
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Protection Equipment
5.1.2 Switching Equipment
5.1.3 Monitoring Devices
5.2 End-user
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Geography
5.3.1 North America
5.3.2 Asia-Pacific
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd.
6.3.2 Eaton Corporation PLC
6.3.3 Fuji Electric Co. Ltd.
6.3.4 Rockwell Automation, Inc.
6.3.5 Toshiba Corporation
6.3.6 Schneider Electric SE
6.3.7 Siemens AG
6.3.8 Yaskawa Electric Corp.
6.3.9 Weg SA
6.3.10 Emerson Electric Co.
6.3.11 Fanox Electronic, SL
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/nkozbt
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/low-voltage-protection-control-industry-report-2020-2025-focus-on-monitoring-devices-protection-and-switching-equipment-301122327.html
SOURCE Research and Markets
