Global Motor Protection Systems Market 2017-2021
About Motor Protection Systems
The motor protection systems provide protection to motors and equipment connected to them, during electrical hazards. These electrical hazards can be a result of either a fault in electricals circuit or due to mechanical contamination in the environment. Motor protection systems are multifunctional systems that are used to safeguard motors against electrical, mechanical, and thermal fluctuations or faults. Products and services included in this report consist of sales and replacement of overload relays, vacuum contactors, motor protection circuit breakers (MPCBs), and combination starters. Motors used in commercial and residential segments are excluded from the scope of our report.
Technavio’s analysts forecast the global motor protection systems market to grow at a CAGR of 4.45% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global motor protection systems market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Motor Protection Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global motor protection systems market: ABB, Eaton, General Electric, Rockwell Automation, and Schneider Electric
Other Prominent Vendors in the market are: Basler Electric, SEL, ASHIDA, Siemens, and Emerson.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising use of IIoT for motor condition monitoring. The Industrial Internet of Things (IIoT) is positioned on accumulating bulk data from many activities and equipment for analysis. The purpose is to enhance processes and improve developments such as the provision of a faster response to customer demands and reduced waste. Industries, which are implementing the Industry 4.0, contain many sensors on the work floor. These sensors report on features as diverse as motor currents and vibrations, batch numbers, final product test, and inspection measurements.”
According to the report, one of the major drivers for this market is Rising use of electronic components in overload relays. The use of electronic components in the construction of overload relays has led to increased protection, enhanced features, and better communications, which were otherwise not available in typical eutectic alloy and bimetallic electromechanical overload relays.
Further, the report states that one of the major factors hindering the growth of this market is Low-cost vendors in APAC. APAC, over the last decade, has emerged as a major hub for low-cost solution providers of industrial automation equipment. These solution providers offer uncertified and unauthentic products, which do not comply with any regulatory standards. These products accommodate needs of small-scale and medium-scale industries. These industries either have minimal understanding of safety requirements in a working place or disregard the need for safety of personnel and machinery.
ABB, Eaton, General Electric, Rockwell Automation, Schneider Electric, Basler Electric, SEL, ASHIDA, Siemens, and Emerson.
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