According to ARC Advisory Group’s new report on the market for low voltage controlgear, digitalization across industries is driving growth in this market. Low voltage controlgear is used in industrial applications to control and protect electric motors and other equipment from surges, ground faults, and short circuits. It also provides basic control functions, such as start/stop and ramp up to speed. Although the low voltage controlgear market consists primarily of electromechanical devices that are part of a larger system of equipment and wiring, they are a critical element in the digitalization process, and this wave of digitalization is one of the primary growth drivers for this market over the next five years.
"Digitalization facilitates the transition to more connected and smarter systems, which improves industrial safety, asset availability, and efficiency. Digitalization gives low voltage controlgear and other industrial equipment users a competitive advantage and opens up new business opportunities for suppliers. For example, digitalizing assets and using cloud-based architecture with predictive analytics enables end users to monitor the health and performance of assets, allowing them to predict equipment failures before they happen and minimizing unnecessary shutdowns that can cost millions of dollars," according to Siddhartha Maiti, Market Analyst and key author of ARC's Low Voltage Controlgear Market Research Report.
Low Voltage Controlgear Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Market Consolidation
- Growing Demand for Automation in Emerging Markets
- Digital Transformation
- Demand for More Asset Investment Protection
Leading Suppliers to the Low Voltage Controlgear Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ABB, CHINT Electrics, Eaton, Schneider Electric, Siemens.
About the Low Voltage Controlgear Research
The Low Voltage Controlgear report explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts and up to 5 years of historical analysis segmented by World Region, Unit Type, Sales Channel, Network Devices, Machinery by Segment, Industry, Hardware by Type, Customer Type.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
- Market Intelligence Workbook (Excel Power Pivot): A standard Workbook includes the base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports. Available with up to 5 years of historical analysis.
- Concise Market Analysis Report (PDF): This wide-screen presentation format makes it much easier to find detailed information on a market. This new format provides executives, business unit managers, and other authorized users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
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