Low Voltage Industrial Controls Market Size & Growth Analysis to 2030

The global low voltage industrial controls market size is anticipated to register a significant CAGR of over 4% during the forecast period 2021 to 2027. The increasing demand for energy-efficient products in various end-use industries is a major factor to drive market growth. Furthermore, the rising adoption of renewable energy sources and the growing demand for electric distribution systems are further expected to fuel the market over the forecast period. Moreover, increasing industrialization, growing urbanization, and increasing industrial automation are further expected to fuel market growth.

Market Drivers:

Industrial Automation and Digitization: The increasing adoption of industrial automation and digitization in various industries, such as manufacturing, oil and gas, chemicals, and automotive, drives the demand for low voltage industrial controls. These controls, including contactors, relays, motor starters, and circuit breakers, are essential components for automating and controlling industrial processes, improving efficiency, and reducing manual labor.

Energy Efficiency and Cost Reduction: Energy efficiency and cost reduction are key priorities for industries. Low voltage industrial controls offer advanced features such as energy monitoring, power factor correction, and load management, enabling better control and optimization of energy consumption. By using efficient controls, industrial facilities can reduce energy waste, improve productivity, and lower operational costs, driving the demand for low voltage industrial controls.

Safety and Compliance Requirements: Industrial processes involve high-power electrical equipment and machinery, posing potential safety hazards. Low voltage industrial controls play a vital role in ensuring the safety of personnel and equipment by providing overload protection, short circuit protection, and emergency stop functionality. Compliance with safety regulations and standards drives the adoption of low voltage industrial controls in industries.

Upgradation and Modernization of Aging Infrastructure: Aging industrial infrastructure requires upgrades and modernization to improve reliability, efficiency, and safety. Low voltage industrial controls are often upgraded to replace outdated or malfunctioning equipment, enhance control capabilities, and integrate with modern automation systems. The need to modernize aging infrastructure and improve overall operational efficiency drives the demand for low voltage industrial controls.

Increasing Demand for Motor Control Solutions: Motors are widely used in industrial applications, and effective motor control is essential for optimizing performance and energy consumption. Low voltage industrial controls, such as motor starters, variable frequency drives (VFDs), and soft starters, provide precise control over motor speed, torque, and energy usage. The growing demand for motor control solutions in industries contributes to the demand for low voltage industrial controls.

Rising Focus on Sustainable and Green Solutions: Industries are increasingly focused on sustainability and adopting green practices. Low voltage industrial controls support sustainable initiatives by providing energy-efficient control solutions, reducing carbon emissions, and improving overall environmental performance. The emphasis on sustainable and green solutions drives the adoption of low voltage industrial controls in industries.

Expansion of Industrial Infrastructure: Industrial infrastructure expansion, particularly in emerging economies, drives the demand for low voltage industrial controls. Rapid industrialization, construction of new manufacturing facilities, and infrastructure development projects require the installation of electrical control systems. Low voltage industrial controls are essential for managing power distribution, motor control, and equipment protection in these new industrial facilities.

Growing Demand for Smart Manufacturing: The adoption of smart manufacturing concepts, such as the Industrial Internet of Things (IIoT), data analytics, and connectivity, is driving the demand for low voltage industrial controls. These controls integrate with smart devices, sensors, and networked systems, enabling real-time monitoring, remote control, and predictive maintenance. The need for intelligent and connected industrial control systems supports the growth of the low voltage industrial controls market.

Increasing Focus on Process Optimization and Efficiency: Industries are continuously striving to optimize their processes and improve operational efficiency. Low voltage industrial controls provide precise and reliable control over various industrial processes, allowing for better process optimization, reduced downtime, and improved productivity. The focus on process efficiency and optimization drives the adoption of low voltage industrial controls.

Market Snapshot:

Market Insights:

The global low voltage industrial controls market is bifurcated into product type, application, and geography. On the basis of product type, the market is further segmented into circuit breakers, contactors & relays, motor starters, thermal overload relays, and others. The circuit breakers segment dominated the global market in 2020 and is expected to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The rising adoption of smart cities and the wide use of circuit breakers in electrical devices are expected to fuel the segment growth over the forecast period.

On the basis of application, the global low voltage industrial controls market is segmented into the process industry, manufacturing, transportation, aerospace & defense, and others. The manufacturing segment is accounted as one of the largest revenue shares of the market in 2020. The rising safety concerns, increasing demand for quality control and monitoring, growing automation in manufacturing, and focus to improve productivity are some major factors to drive the segment growth.

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The low voltage industrial controls comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The low voltage industrial controls market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product Type:

• Circuit Breakers
• Contactors & Relays
• Motor Starters
• Thermal Overload Relays
• Others

By Application:

• Process Industry
• Manufacturing
• Transportation
• Aerospace & Defense
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, North America dominated the global low-voltage industrial controls market in 2020 and is estimated to hold the largest revenue share of over one-third percent of the market by the end of the analysis period. The increasing adoption of LV industrial controls in manufacturing and the availability of a large manufacturing base are some of the major factors to drive the market growth in the region. Furthermore, the increasing adoption of advanced technological solutions by manufacturers and government regulations for the manufacturing ecosystem is further expected to fuel the market growth in North America.

Competitive Assessment

Some of the major market players operating in the global low voltage industrial controls market are ABB Ltd., Siemens AG, Schneider Electric, WEG SA, and General Electric. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• ABB Ltd.
• Siemens AG
• Schneider Electric
• WEG SA
• General Electric
• CHINT Group
• Rockwell Automation
• Mitsubishi Electric
• Fuji Electric
• Eaton

Key Questions Answered by Low Voltage Industrial Controls Market Report

• Global low voltage industrial controls market forecasts from 2021-2027
• Regional low voltage industrial controls market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Low voltage industrial controls submarket forecasts from 2021-2027 covering the market by product type, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about low voltage industrial controls market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level low voltage industrial controls markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the low voltage industrial controls market