The net worth of the motor protector market in 2024 is estimated to be around USD 2,849.4 million. Over the next ten years, the adoption of motor overvoltage protectors is forecasted to grow at a CAGR of 3.9%. Worldwide sales of motor protectors are expected to reach a valuation of USD 4,341 million by 2034.
| Report Attribute | Details |
|---|---|
| Motor Protector Market Value (2024) | USD 2,849.4 million |
| Anticipated Market Value (2034) | USD 4,341 million |
| CAGR (2024 to 2034) | 3.9% |
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According to our earlier industry reports on motor power protector products, the net revenue of the market in 2019 was USD 2,313.8 million. The global demand for motor control protectors surged at a CAGR of 4.3% over the historical period. The total revenue from sales of motor protectors was figured to be USD 2,738.2 million in 2023.
| Attributes | Details |
|---|---|
| Motor Protector Market Size (2019) | USD 2,313.8 million |
| Market Size (2023) | USD 2,738.2 million |
| Market (CAGR 2019 to 2023) | 4.3% |
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A variety of machines with motors are needed to support the investments in infrastructure projects in construction & building, transportation, as well as the energy sector. So, motor protection devices are essential to maintain the dependability of infrastructure systems to prevent problems during overheating, overloading, and phase imbalances.
With continuous technological improvements, advanced motor protection solutions with the latest characteristics have replaced conventional devices in the motor protection relay market. Such improvements in electric motor safety systems' accuracy and efficacy are expected to attract more buyers looking for dependable electric motor safety devices.
The need for motor safety switches is also rising, fueled by electrification and a move toward greener energy sources. So, the inclusion of such gadgets that are essential to preserving the dependability of electric motors is also anticipated to further strengthen the global motor protection market size.
The table below illustrates the growth rates of top-performing countries in the motor protector industry. Emerging economies in Asia are anticipated to perform better than North American and European countries owing to the existing gap in demand and supply of electric motor protectors.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 3.5% |
| China | 4.4% |
| United Kingdom | 3.5% |
| India | 4.6% |
The United States motor protector market in the United States is anticipated to grow at a 3.5% CAGR through 2034.
Stricter regulatory guidelines and compliance criteria are in place in the United States for the safety of industrial equipment as well as the workforce. So, sales of motor protectors in the country have remained traditionally higher to cater to an extensive industrial base with modern manufacturing and functioning machines.
The United Kingdom electronic motor protector market in Germany is poised to expand at a 3.5% CAGR through 2034.
Energy sustainability and efficiency are becoming more important for industries operating in European countries that are lowering operating expenses and energy consumption. So, electronic motor protector manufacturers in the United Kingdom are making adjustments to support this overarching objective by eliminating motor breakdowns and enhancing motor performance.
With a vast manufacturing base for electrical equipment and gadgets, the motor circuit protectors market in China is projected to advance at a 4.4% CAGR through 2034.
By assuring an efficient and uninterrupted functioning of motors in industries in China, motor protector manufacturers enjoy a sizable demand from the domestic market itself. In addition to this, the growing demand for motor protection modules from the industrializing economies in Asia is anticipated to further boost the regional market.
Motor overcurrent protector manufacturing in India is poised to grow at a CAGR of 4.6% over the forecast period.
The relevance of motor circuit protectors is rising in India with the escalating complexity of industrial operations in the country. Trade across borders and the exchange of industrial equipment are also anticipated to favor the motor protector industry forecast in India.
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As per our findings, the product category for motor overcurrent relay or overload relay contributed to nearly 28% of the total sales in 2023.
| Attributes | Details |
|---|---|
| Top Product Type | Overload Relay |
| Market Share in 2023 | 28% |
The relevance of electronic overload protectors, as well as motor underload protectors, has surged with an increase in predictive maintenance and condition monitoring in industrial settings.
According to our market survey, the use of motor protectors in utilities accounted for a share of 21% of the market by end use in 2023.
| Attributes | Details |
|---|---|
| Top End Use | Utilities |
| Market Share in 2023 | 21% |
The demand for three-phase motor protectors in this segment is rising as the utility sector across all countries is looking for standardized and dependable solutions. Moreover, the improving economic conditions of low-income group countries are expected to lead to the establishment of more utility facilities, invariably benefiting the global motor phase protector market.
The overall market for motor trip protectors is highly diversified as well as competitive, owing to the presence of several players at different levels. Leading market players are now restructuring to offer motor protection solutions tailored to the needs of each industry, to gain a competitive edge, Many new and established market participants are adopting the strategy of offering their products in combination, including motor overload protection switches and control devices.
Recent Developments in the Global Motor Protector Market
| Attribute | Details |
|---|---|
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product Type, By Motor Type, By Voltage Type, By Rated Power, By End User Verticals, and By Region |
| Key Companies Profiled | ABB Group Switzerland; Danfoss A/C; Eaton Corporation; Fuji Electric Co., Ltd.; General Electric Company; Larsen & Toubro Limited; Mitsubishi Electric Corporation; Schneider Electric; Siemens AG; Toshiba International Corporation; Rockwell Automation Company; Ingeteam S.A.; Marine Electricals Inc.; Powell Corporation; WEG Group |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global motor protector market is estimated to be valued at USD 2,849.4 million in 2024.
The global motor protector market is likely to grow at a 3.9% CAGR through 2034.
The global market is predicted to reach USD 4,341 million by 2034.
The global motor protector market was valued at USD 2,738.2 million in 2023.
Europe accounts for one-fourth of the revenue share of the global market.
Sales of motor protectors in India are predicted to witness a CAGR of 4.6% through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 5.1. Vacuum Contactors 5.2. Overload Relays 5.3. Combination Starters 5.4. Motor Protection Circuit Breaker 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Rated Power 6.1. Up to 75 Kw 6.2. 75 to 75 Kw 6.3. Above 75 Kw 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 7.1. Oil and Gas 7.2. Agriculture 7.3. Water and Wastewater 7.4. Infrastructure 7.5. Metal and Mining 7.6. Food and Beverages 7.7. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. ABB Group 18.2. Danfoss A/S 18.3. Eaton Corporation 18.4. Fuji Electric Co., Ltd. (Furukawa Group) 18.5. General Electric Company 18.6. Larsen & Toubro Limited 18.7. Mitsubishi Electric Corporation 18.8. Schneider Electric 18.9. Siemens AG 18.10. Toshiba International Corporation 19. Assumptions & Acronyms Used 20. Research Methodology
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Motor Protector Market
