- December 21, 2015
The North America Low Voltage Industrial Controls Market was valued at USD 4.94 Billion in 2014 and is projected to reach USD 6.30 Billion by 2020, at a CAGR of 4.04% from 2015 to 2020.
December 21, 2015 - The North America Low Voltage Industrial Controls Market was valued at USD 4.94 Billion in 2014 and is projected to reach USD 6.30 Billion by 2020, at a CAGR of 4.04% from 2015 to 2020.
Industrial Controls is considered as one of the most vibrant sectors owing to its presence, usage and overlap with many other industry verticals. There is extremely high surge in the market for the technology devices and applications in which these products can be employed. The major factor that is helping this industry to growth is the continuous advancements in the technology and cost effectiveness of products used. The companies are investing in the R&D to make the necessary improvements in technology. Also, the supply chain in this industry is major supporting factor that has helped LV industrial controls industry to gain new heights. Additionally LV Low Voltage Industrial Controls Market are getting strong emphasis due to increase in demand for energy efficient systems.
The Low Voltage Industrial Controls Market is divided in to three segments: products used in industrial controls, applications and geography. The products segment include the differentiation of usage based on the type of end solutions. The product used in industrial controls includes circuit breakers (MCB and MCCB), Contactors and Relays, Motor starters, Thermal Overload Relays and Others. The others market is growing due to the rise in demand for enclosure, fuses, residual current devices, and change-over switches and many other switching devices.
The applications market covers the major applications of LV industrial controls that are divided into eight segments that include process industry, manufacturing industry, transportation, aerospace & defense, commercial, residential, telecom & renewable energy. The process and manufacturing industries are prime applications of Low Voltage Industrial Controls Market. The geographical market the countries in North America that include U.S, Canada, and Mexico. U.S is the largest market by geography due to the fact that the major electronics and semiconductor industry is based in this countries commanding global market as well.Learn More
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