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| Countries covered: North America Research Overview This Frost & Sullivan research service titled North American Motor Protection Markets provides an overview of the revenue forecasts for the motor protection devices market within North America, along with a comprehensive analysis of the key industry challenges, market drivers, restraints, and trends. In this research service, Frost & Sullivan's expert analysts thoroughly examine the electromechanical and microprocessor-based motor protection devices markets. Market Sectors Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
The following technologies are covered in this research:
Credibility and Functionality of Motor Protection Devices Drive Growth of Markets The North American motor protection devices (MPDs) market continues to benefit from the wide acceptance of the microprocessor-based motor protection devices. Within this market, electromechanical motor protection devices are showing a decline in growth, solid-state motor protection devices have almost completely faded away, and microprocessor-based motor protection devices are showing a positive growth pattern. "These protection devices are used to protect a motor from failure that could result in financial and production loss, damage to equipment, or affect the safety of personnel," according to the analyst of the study. "A developing trend that is becoming very prominent is that end users are requesting greater functionality and communication capabilities at lower prices." Electromechanical MPDs have been in use for more than 100 years. The majority of these devices are sold as replacement and as a result, a mere few are installation sales; therefore, they have the largest installed base in the total market. The reason for many of these devices being sold for replacement is that, when only one MPD fails, end users do not prefer to buy a new motor protection system, but opt for a replacement for the device that failed. Adoption of New Technologies Likely to Drive Revenues of MPDs Markets The North American motor protection market is expected to experience a positive growth in market share during the forecast period, primarily due to the microprocessor-based motor protection devices segment. The microprocessor-based motor protection devices market is showing a positive growth in market shares. The electromechanical motor protection market is experiencing a decline in the market shares due to the fact that they lack functionality as well as communication capabilities, and the price is increasing because of the growing raw material cost. There are still a few end users who are reluctant to try the new technology, and continue using electromechanical MPDs because they are more familiar with them and feel secure about how they work. "Even though a lot of end users have switched over, or are in the process of switching over to microprocessor-based motor protection, a few of them are hesitant," explains the analyst. "As increasingly more companies switch over to the new technology and other companies become aware of the benefits, users are likely to become less reluctant to adopt the new technology as a result boosting the revenue potential of these markets." |
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