Low Voltage Protection and Control Market - Global Forecast to 2025 - Growth of EV Charging Infrastructure & Data Centers
DUBLIN, Feb. 12, 2019 /PRNewswire/ --
The "Low Voltage Protection and Control Market by Product Type (Protection Equipment, Switching Equipment, and Monitoring Devices), End-use (Residential, Commercial, and Industrial (Oil & Gas, EV Charging), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global low voltage protection and control market is projected to reach USD 19.8 billion by 2025 from an estimated USD 13.2 billion in 2018, at a CAGR of 5.97%.
This growth can be attributed to factors such as increasing demand for renewable energy products, growing per capita consumption of energy, and demand for safe and secure electrical systems. However, the grey market and the presence of inferior quality products along with the high cost of monitoring devices is expected to restrict the growth of the market
The monitoring devices segment is expected to be the fastest growing market from 2018 to 2025.
The monitoring devices segment which includes the metering and communication and measurement devices is estimated to be the fastest growing segment during the forecast period. Growing energy efficiency targets and increasing smart grid investments are expected to drive the market during the forecasted period. Furthermore, monitoring devices enable users to individually monitor their energy consumption and device energy efficiency plans that will reduce energy consumption and reduce the cost of operations.
The industrial segment, by end-use type, is expected to be the largest market from 2018 to 2025.
The industrial segment is expected to hold the largest market share during the forecast period because of its increasing EV sales and EV charging infrastructure as well as the growing data center investments and operations across the globe. The share of EV's is increasing every year, globally. The EV charging stations, such as slow and fast chargers, are also witnessing an increase to meet the increasing demands. Increasing subsidies for EV's and the need to meet the operating range of EV's is driving the market for low voltage protection and control.
Asia Pacific: The second fastest growing market for low voltage protection and control.
The Asia Pacific region is expected to be the 2nd fastest growing market for low voltage protection and control, by 2025. The low voltage protection and control market in this region is mainly driven by growing per capita consumption of energy, increasing urbanization, growing middle class, the favorable market for electric vehicles, and datacenters. Countries such as China and India are among the fastest growing countries, they have major climate change and renewable energy targets to implement during the forecast period. For instance, China and India have targets to install 210 GW and 175 GW of renewable energy power generation by 2023 which is expected to drive the market for low voltage protection and control.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Low Voltage Protection and Control Market
4.2 Low Voltage Protection and Control Market, By Product
4.3 Low Voltage Protection and Control Market, By End-User
4.4 Low Voltage Protection and Control Market in Apac, By End-User and Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Per Capita Consumption of Energy
5.2.1.2 Increasing Demand for Renewable Source of Energy
5.2.1.3 Demand for Safe and Secure Electrical Distribution Systems
5.2.2 Restraints
5.2.2.1 High Cost of Monitoring Devices
5.2.2.2 Gray Market and Presence of Inferior Quality Products
5.2.3 Opportunities
5.2.3.1 Growth of Ev Charging Infrastructure
5.2.3.2 Growth of Data Centers
5.2.4 Challenges
5.2.4.1 Uncertainty in the Execution of Large Infrastructure Projects
5.2.4.2 Price Competition Among Major Players
6 Low Voltage Protection & Control Market, By Product
6.1 Introduction
6.2 Monitoring Devices
6.2.1 Increasing Energy Efficiency Targets and Growing Smart Grid and Metering Systems are Driving the Market for Monitoring Devices
6.3 Protection Equipment
6.3.1 Need for Reliable and Safe Electrical Distribution System is Driving the Protection Equipment Market
6.4 Switching Equipment
7 Low Voltage Protection and Control Market, By End-User
7.1 Introduction
7.2 Residential
7.2.1 Growing Urbanization and Increasing Per Capita Consumption of Energy are Expected to Drive the Residential Sector
7.3 Commercial
7.3.1 Growing Renewable Energy Installation and Energy Efficiency Requirements are Expected to Drive the Commercial Sector
7.4 Industrial
7.4.1 Growing Electric Vehicle Infrastructure and Data Center Establishments are Expected to Drive the Industrial Sector
8 Low Voltage Protection and Control Market, By Region
9 Competitive Landscape
9.1 Overview
9.2 Market Share Analysis
9.3 Competitive Scenario
9.3.1 New Product Launches, 2016-2018
9.3.2 Contracts & Agreements, 2016-2017
9.3.3 Mergers & Acquisitions, 2016-2018
9.3.4 Investments & Expansion, 2015-2017
9.4 Competitive Leadership Mapping
10 Company Profiles
- ABB
- Chint Group
- Eaton Corporation
- Emerson
- Fuji Electric Co. Ltd
- Hitachi
- Legrand
- Rockwell Automation
- Schneider Electric
- Siemens
- Toshiba Corporation
- WEG
- Yaskawa
For more information about this report visit https://www.researchandmarkets.com/research/p4rvwf/low_voltage?w=5
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