Low Voltage Industrial Controls

Low Voltage Industrial Controls

Global Low Voltage Industrial Controls Market to Reach $1 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Low Voltage Industrial Controls estimated at US$737.3 Million in the year 2020, is projected to reach a revised size of US$1 Billion by 2027, growing at a CAGR of 4.5% over the analysis period 2020-2027. Circuit Breakers, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$372.6 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 4.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $201.7 Million, While China is Forecast to Grow at 6% CAGR

The Low Voltage Industrial Controls market in the U.S. is estimated at US$201.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$181.8 Million by the year 2027 trailing a CAGR of 6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$134.1 Million by the year 2027.

Motor Starters Segment to Record 5.2% CAGR

In the global Motor Starters segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$89.7 Million in the year 2020 will reach a projected size of US$124.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.9% CAGR through the analysis period.

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.

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