The net worth of the motor protector market in 2024 is estimated to be around US$ 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 US$ 4,341 million by 2034.
Report Attribute | Details |
---|---|
Motor Protector Market Value (2024) | US$ 2,849.4 million |
Anticipated Market Value (2034) | US$ 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 US$ 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 US$ 2,738.2 million in 2023.
Attributes | Details |
---|---|
Motor Protector Market Size (2019) | US$ 2,313.8 million |
Market Size (2023) | US$ 2,738.2 million |
Market (CAGR 2019 to 2023) | 4.3% |
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 | US$ 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 |
|
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 US$ 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 US$ 4,341 million by 2034.
The global motor protector market was valued at US$ 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 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2024 to 2034 5.3.1. Vacuum Contactors 5.3.2. Overload Relays 5.3.3. Combination Starters 5.3.4. Motor Protection Circuit Breaker 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Rated Power 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Rated Power, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Rated Power, 2024 to 2034 6.3.1. Up to 75 Kw 6.3.2. 75 to 75 Kw 6.3.3. Above 75 Kw 6.4. Y-o-Y Growth Trend Analysis By Rated Power, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Rated Power, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End User, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End User, 2024 to 2034 7.3.1. Oil and Gas 7.3.2. Agriculture 7.3.3. Water and Wastewater 7.3.4. Infrastructure 7.3.5. Metal and Mining 7.3.6. Food and Beverages 7.3.7. Others 7.4. Y-o-Y Growth Trend Analysis By End User, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By End User, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Product Type 9.2.3. By Rated Power 9.2.4. By End User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Rated Power 9.3.4. By End User 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product Type 10.2.3. By Rated Power 10.2.4. By End User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Rated Power 10.3.4. By End User 10.4. Key Takeaways 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UK 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Product Type 11.2.3. By Rated Power 11.2.4. By End User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Rated Power 11.3.4. By End User 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Product Type 12.2.3. By Rated Power 12.2.4. By End User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Rated Power 12.3.4. By End User 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Product Type 13.2.3. By Rated Power 13.2.4. By End User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By Rated Power 13.3.4. By End User 13.4. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Product Type 14.2.3. By Rated Power 14.2.4. By End User 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product Type 14.3.3. By Rated Power 14.3.4. By End User 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Product Type 15.2.3. By Rated Power 15.2.4. By End User 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Product Type 15.3.3. By Rated Power 15.3.4. By End User 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2023 16.1.2.1. By Product Type 16.1.2.2. By Rated Power 16.1.2.3. By End User 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2023 16.2.2.1. By Product Type 16.2.2.2. By Rated Power 16.2.2.3. By End User 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2023 16.3.2.1. By Product Type 16.3.2.2. By Rated Power 16.3.2.3. By End User 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2023 16.4.2.1. By Product Type 16.4.2.2. By Rated Power 16.4.2.3. By End User 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2023 16.5.2.1. By Product Type 16.5.2.2. By Rated Power 16.5.2.3. By End User 16.6. UK 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2023 16.6.2.1. By Product Type 16.6.2.2. By Rated Power 16.6.2.3. By End User 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2023 16.7.2.1. By Product Type 16.7.2.2. By Rated Power 16.7.2.3. By End User 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2023 16.8.2.1. By Product Type 16.8.2.2. By Rated Power 16.8.2.3. By End User 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2023 16.9.2.1. By Product Type 16.9.2.2. By Rated Power 16.9.2.3. By End User 16.10. Poland 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2023 16.10.2.1. By Product Type 16.10.2.2. By Rated Power 16.10.2.3. By End User 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2023 16.11.2.1. By Product Type 16.11.2.2. By Rated Power 16.11.2.3. By End User 16.12. Czech Republic 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2023 16.12.2.1. By Product Type 16.12.2.2. By Rated Power 16.12.2.3. By End User 16.13. Romania 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2023 16.13.2.1. By Product Type 16.13.2.2. By Rated Power 16.13.2.3. By End User 16.14. India 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2023 16.14.2.1. By Product Type 16.14.2.2. By Rated Power 16.14.2.3. By End User 16.15. Bangladesh 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2023 16.15.2.1. By Product Type 16.15.2.2. By Rated Power 16.15.2.3. By End User 16.16. Australia 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2023 16.16.2.1. By Product Type 16.16.2.2. By Rated Power 16.16.2.3. By End User 16.17. New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2023 16.17.2.1. By Product Type 16.17.2.2. By Rated Power 16.17.2.3. By End User 16.18. China 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2023 16.18.2.1. By Product Type 16.18.2.2. By Rated Power 16.18.2.3. By End User 16.19. Japan 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2023 16.19.2.1. By Product Type 16.19.2.2. By Rated Power 16.19.2.3. By End User 16.20. South Korea 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2023 16.20.2.1. By Product Type 16.20.2.2. By Rated Power 16.20.2.3. By End User 16.21. GCC Countries 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2023 16.21.2.1. By Product Type 16.21.2.2. By Rated Power 16.21.2.3. By End User 16.22. South Africa 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2023 16.22.2.1. By Product Type 16.22.2.2. By Rated Power 16.22.2.3. By End User 16.23. Israel 16.23.1. Pricing Analysis 16.23.2. Market Share Analysis, 2023 16.23.2.1. By Product Type 16.23.2.2. By Rated Power 16.23.2.3. By End User 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Product Type 17.3.3. By Rated Power 17.3.4. By End User 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. ABB Group 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. Danfoss A/S 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. Eaton Corporation 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Fuji Electric Co., Ltd. (Furukawa Group) 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. General Electric Company 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Larsen & Toubro Limited 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. Mitsubishi Electric Corporation 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 18.1.8. Schneider Electric 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.8.5.2. Product Strategy 18.1.8.5.3. Channel Strategy 18.1.9. Siemens AG 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.9.5.2. Product Strategy 18.1.9.5.3. Channel Strategy 18.1.10. Toshiba International Corporation 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.10.5.2. Product Strategy 18.1.10.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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