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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Low Voltage Industrial Controls market. Market segmentation includes Product (Circuit Breakers, Contactors & Relays, Motor Starters, Thermal Overload Relays, Other Products); Application (Process Industry, Manufacturing, Transportation, Aerospace & Defense, Other Applications).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 5:55 a.m., Silicon Valley, California - According to the new market research report, the global market for Low Voltage Industrial Controls is projected to grow at a CAGR of 4.5% to reach US$1.0 billion by 2027, driven by rapid urbanization and industrialization; growing renovation, expansion works in distribution and transmission network; and increasing demand for electrical distribution systems that are safe and secure. The global Low Voltage Industrial Controls market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Circuit Breakers, one of the product segments analyzed and sized in this study, is forecast to grow at over 4.9% and reach a market size of US$372.6 million by the end of the analysis period. The United States is forecast to readjust to a 4.0% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$42.2 million growing at a CAGR of 3.5% over the next couple of years. In addition, over US$25.9 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Contactors & Relays product segment will reach a market size of US$9.9 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Process Industry application segment in this country against this backdrop will grow at a CAGR of 5.8% over the next couple of years to create an addressable market opportunity worth US$73.4 million by the year 2027.

Low Voltage (LV) Industrial Controls is a dynamic sector due to its presence, overlap and usage across several industry verticals. The demand will be on a rise post COVID-19 pandemic induced recessionary environment, owing to continued technological advancements and availability of cost-effective, reliable industry control products. Another key factor that is anticipated to drive long term growth is the use of industrial controls by the technology applications and devices market, which is witnessing growing demand, in turn causing the demand to increase for industrial controls. The low voltage industrial controls market also stands to benefit from the push towards energy efficient systems. Meanwhile, market growth will also be strengthened due to the rising demand for fuses, enclosure, change-over switches, residual current devices and several other switching systems. A major plus for low voltage industrial controls is the supply chain of this industry that enabled the market to gain strength over the years. In the meantime, companies are also undertaking research and development investments to ensure that they develop much more technological advanced low voltage industrial circuits. Key attractions for the market include the growing demand for power and for cost-effective electronic systems. The large-scale smart city development projects and the like that are underway is another factor leading to increasing demand for a wide range of smart electrical machines and devices. While the umpteen benefits are fueling demand across various end-use sectors and industries, the rising cost of raw material is posing a drawback for the market.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 22368. Among this pool, 2013 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 447 unique participations, a total of 201 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Siemens AG
ABB Ltd.
Mitsubishi Electric Corporation
General Electric Company
Schneider Electric SE
Eaton Corporation PLC
Rockwell Automation, Inc.
WEG SA
Fuji Electric Corp. of America
Alstom SA
Chint Group

Segments Covered in the Report -
Product (Circuit Breakers, Contactors & Relays, Motor Starters, Thermal Overload Relays, Other Products)
Application (Process Industry, Manufacturing, Transportation, Aerospace & Defense, Other Applications)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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