DUBLIN, Jan. 19, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/mmh8fm/motor_protection) has announced the addition of the "Motor Protection Market - Global Trends & Forecast to 2020" report to their offering.
The global motor protection market is projected to grow at a CAGR of 6.86% during the forecast period to reach a value of USD 5.09 Billion by 2020. The growth is attributed to growing focus on safety towards motors and robust growth in the HVAC market.
Asia-Pacific was the leading market for motor protection devices in 2014, owing to large scale industrialization and urbanization in the region China, Japan, and India are the fastest growing markets for motor protection in the region. The figure below indicates the market sizes of Asia-Pacific countries in 2015 and 2020, along with their CAGRs for 2015 to 2020.
The mining industry underwent a serious downturn in 2014. There was a steep fall in prices of iron ore, gold, silver, coal, and copper between 2013 and 2014. For instance, the price of iron ore declined nearly 40% from USD 130 a ton in January 2014 to USD 82 a ton in September 2014.
Likewise, from 2012 to 2013, the annual average gold price also dropped from USD 1,669 per troy ounce to USD 1,411 per troy ounce. Weakening prices and a sluggish outlook for demand growth have turned investors away from the mining sector. This has forced several companies to cut costs and postpone projects in order to survive. The CAPEX investment by miners was also recorded low. The resulting decline in CAPEX is not good for mining equipment manufacturers. Hence, all these factors are expected to restrict the growth of motor protection devices used in the mining sector.
Expansions and new product launches were the most widely adopted strategies by top players in the market, constituting 30% each of the total development share during 2012-2015. Contracts & agreements accounted for 24%, while mergers & acquisitions held 16% share during the same period.
Companies Mentioned:
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Motor Protection Devices Market, By Region
7 Motor Protection Devices Market, By Rated Power (Kw)
8 Motor Protection Devices Market, By End-Use Industry
9 Motor Protection Devices Market, By Device Type
10 Competitive Landscape
11 Company Profiles
For more information visit http://www.researchandmarkets.com/research/mmh8fm/motor_protection
Media Contact:
Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets
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