The global low voltage protection and control market is expected to grow from an estimated USD 13.2 billion in 2018 to USD 19.8 billion by 2025, at a CAGR of 5.97%. The growth of this market is driven by the increasing demand for renewable energy sources, growing per capita consumption of energy, and demand for safe and secure electrical systems.
The global low voltage protection and control market is dominated by few major players that have a wide regional presence. The leading players in the low voltage protection and control market are Schneider Electric (France), ABB (Switzerland), Siemens (Germany), Eaton (Ireland), and Emerson(US).
The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, and collaboration. Mergers & acquisitions was the most commonly adopted strategy from August 2015 to November 2018. These industry players also adopted contracts & agreements and new product launches as major strategies during that period.
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Siemens (Germany) is one of the leading companies that provide industrial manufacturing, technologies, and services to the power and industrial markets, globally. The company operates through the following business segments: power and gas, energy management, building technologies, mobility, digital factory, process industries and drives, healthineers, and Siemens Gamesa renewable energy. The digital factory segment provides products and solutions related to low voltage industrial control. In February 2018, Siemens AG announced the launch of its new generation of soft starters to simplify the demanding drive requirements. The new Sirius 3RW5 soft starter is of 3-phase asynchronous motors from 5.5 to 1,200 kW. In 2016, Siemens AG won a contract to supply low and medium voltage electrical equipment and power transformers for the new Holland Energy Park combined cycle power plant in Holland, Michigan (US).
Schneider Electric is one of the leaders in providing automation and energy management-related products and solutions. The company operates through 4 business segments, namely, building, infrastructure, industry, and IT. The end-user markets of Schneider Electric include nonresidential & residential buildings, utilities & infrastructure, industry & machine manufacturers, and data centers & networks. The company offers low voltage industrial control products & solutions under its industry and building business segment, catering to the demand of end-users, including OEMs, water, mining & metals, and food & beverage. The major subsidiaries of the company involved in the infrastructure business segment are Schneider Electric Infrastructure Limited, Schneider (Beijing) Medium Voltage Co. Ltd., and Schneider (Beijing) Medium & Low Voltage Co., Ltd. In May 2018, Schneider Electric, in partnership with Temasek, acquired Larsen & Toubro’s electrical & automation business and combined it with its low voltage & industrial automation products in India. In October 2017, Schneider Electric acquired Asco Power Technologies (US). This acquisition enhanced Schneider’s ECoStruxure power platform in key markets and segments.
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
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