NEW YORK, Dec. 22, 2015 /PRNewswire/ -- The motor protection market is expected to reach USD 5.09 billion by 2020, at a CAGR of 6.86% during the forecast period. Motor protection devices are vital for preventing motors from over current and thus minimizing costly downtimes. Asia-Pacific and the Middle East & Africa regions are increasing investments in infrastructure, power, and oil & gas industries, which are the major driving factors of the motor protection market. Moreover, growing awareness in motor safety is expected to positively contribute to the market. Meanwhile, there has been a rise in the number of offshore oil discoveries in Africa, especially in Congo, Angola, Nigeria and Equatorial Guinea, which provides attractive growth opportunity to the motor protection market.
"Oil & gas industry leading the global market"
The oil & gas segment is expected to lead the global motor protection market. The high growth is attributed to rise in energy demand, global new oil discoveries, growing focus on deepwater drilling, and potential discoveries in the Arctic region. The rise in global demand for energy is making global E&P players to search for new discoveries, driving the motor protection market.
"Asia-Pacific: The largest market share for motor protection market"
The Asia-Pacific region is witnessing rapid industrialization and infrastructural development. China, Japan, and India are the key countries responsible for the rapid growth of combination starters in the region. The increasing demand for motors coupled with growing concerns regarding motor control and protection is likely to boost the demand for motor protection market in the region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
By Company Type: Tier 1-22%, Tier 2- 47%, Tier3-31%
By Designation: C Level- 34%, Director Level- 29%, Others- 37%
By Region: Asia-Pacific-34%, Europe-29%, North America-23%, RoW-14%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
The report profiles leading players in the industry along with their recent developments and other strategic activities. Key players include ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), Eaton Corporation (Ireland), and General Electric Company (U.S.).
Why buy this report?
1. The report identifies and addresses key markets for motor protection market, which is useful for suppliers and OEMs to review production and distribution plans.
2. The report includes analysis for key countries by end-use industry of motor protection market. The end-use industry includes oil & gas, water & wastewater, infrastructure, food & beverages, and metals & mining among others. It analyzes historical trends and also forecast for 2020, assisting in strategic decision making.
3. It also presents competition by analyzing recent market developments such as key contracts, expansions, and new product launches from key global market players. It helps in understanding the competition strategies and plan respective initiatives.
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