World News: 15:41 GMT Monday 11th February 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering. The low voltage protection and control market is estimated to be USD 13.18 billion in 2018 and is projected to reach USD 19.79 billion by 2025, at a CAGR of 5.97% during the forecast period.
The low voltage protection and control market includes various equipment that enhances protection, connectivity, real-time operational reliability, and smart analytics for low voltage architectures in end markets such as commercial, residential, and industrial. This includes various protection equipment, switching equipment, and monitoring devices, which help protect the electrical system from faults, isolate the load from its source of energy to perform maintenance activities, and provide real-time and historical data of the energy consumption to the end-users.The low voltage protection and control market is segmented by product, end-user, and region. The study covers the key regions of North America, Asia Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to hold the largest market share during the forecast period. The low voltage protection and control market in the Asia Pacific region is mainly driven by increasing investments in the manufacturing sector in Southeast Asia, increasing rural electrification, and rising focus on the grid modernization.Major factors driving the growth of the low voltage protection and control market include increasing demand for renewable energy sources, growing per capita consumption of energy, and demand for safe and secure electrical systems. High costs of monitoring devices and gray market and the presence of inferior quality products could act as restraints for the growth of the low voltage protection and control market.
The major players of the low voltage protection and control market are Schneider Electric (France), ABB (Switzerland), Siemens (Germany), Eaton (Ireland), and Emerson (US).
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Globe Newswire: 15:41 GMT Monday 11th February 2019
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