Low Voltage Industrial Controls Global Market to Reach $1.2 Billion by 2030: Increased Role of Automation in Automotive Industry Augurs Well

DUBLIN, July 11, 2023 /PRNewswire/ -- The "Low Voltage Industrial Controls: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Low Voltage Industrial Controls estimated at US$780.7 Million in the year 2022, is projected to reach a revised size of US$1.2 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2022-2030.

Circuit Breakers, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$441.8 Million by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Contactors & Relays segment is readjusted to a revised 5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $212.5 Million, While China is Forecast to Grow at 6.9% CAGR

The Low Voltage Industrial Controls market in the U.S. is estimated at US$212.5 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$222 Million by the year 2030 trailing a CAGR of 6.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.4% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 4.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$161 Million by the year 2030.

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.

Key Topics Covered:

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

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/8i5a04

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets