Low Voltage Protection and Control - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Low Voltage Protection and Control Market is accounted for $12.2 billion in 2017 and is expected to reach $21.0 billion by 2026 growing at a CAGR of 6.2%. Factors such as there is huge demand for renewable source of energy, increase in the infrastructure and per capita income from developed countries are driving the market growth. However, the price of monitoring devices and competition among manufacturers are hampering the growth of the market.
Low Voltage Protection and Control is a device or group of components that ensure that if the input voltage drops below a certain value, it will be cut-off completely. Most circuits have a range of input voltage within which they operate as designed. It is easy to see why a higher voltage could cause damage as voltage limits for components could be exceeded. But lower voltages can also be problematic for certain types of circuits. When the voltage is too low, half the things may work while other things don’t; the result could be oscillations, malfunctions and various other undesired outcomes. So in order to avoid this, a low-voltage protection control will cleanly cut the voltage once it drops below a limit.
Amongst end user, industrial segment has lucrative market share during the forecast period. With the increasing installation of electric vehicle charging stations, data centers, and renewable energy installations. As Electric Vehicle (EV) charging stations are propel to have the growth rate with several countries offering incentives and increased sales of electric vehicles. By geography, Asia Pacific region is driven by increasing necessity to meet climate change and renewable energy targets and also investing in infrastructure and power generation projects to tackle growing population demands.
Some of the key players in Low Voltage Protection and Control market include Schneider Electric, WEG, Emerson, Fuji Electric Co. Ltd, Toshiba Corporation, Rockwell Automation, Eaton Corporation, Hitachi, ABB, Siemens, Legrand, Chint Group, and Yaskawa.
• Switching Equipment
• Monitoring Devices
• Protection Equipment
End Users Covered:
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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