About Motor Protection
Motor protection is used to prevent damage to the electrical motor. In external conditions when connecting to the power grid or during use have to be detected and abnormal conditions must be prevented. The motor protection market is expected to grow in the future due to the rise in demand for motors and growing concern towards its safety. Growth in the oil & gas sector and rising expenditures in the water & wastewater industry are the major opportunities of the motor protection market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.1% |
The leading market players in the motor protection market have focused on expanding their business operations in the fast-growing emerging countries. The companies operating in the motor protection market have consistently introduced innovative solutions to enhance their product portfolio. Product development and partnerships are the two prominent growth strategies adopted by key market players operating in the motor protection market. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Motor Protection market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Corporation (Ireland), Schneider Electric (France), General Electric Company (United States), Mitsubishi Electric Corporation (Japan), Larsen & Toubro Limited (India), Fuji Electric Co. Ltd. (Japan) and Toshiba International Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are The Danfoss Group (Denmark) and Chint Electrics Co. Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Motor Protection market by and Region.
On the basis of geography, the market of Motor Protection has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User Industry, the sub-segment i.e. Oil & Gas will boost the Motor Protection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Raw Material, the sub-segment i.e. Current Limiting Fuses will boost the Motor Protection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Devices, the sub-segment i.e. Overload Relay will boost the Motor Protection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power, the sub-segment i.e. Up to 7.5 kW will boost the Motor Protection market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand of Overload Relay
Market Growth Drivers:
Rising Demand for Motors in Various Industry and Growth in the HVAC System
Challenges:
Growing Focus on Renewable Sources for Power Generation
Restraints:
Declining in the Mining Industry
Opportunities:
Rising Expenditures in the Water and Wastewater Industry and Growth in the Oil & Gas Sector
Market Leaders and their expansionary development strategies
In March 2022, Eaton, a major player in the electrical components industry, acquired Cooper Crouse-Hinds, a company with a strong presence in motor protection equipment. This acquisition expands Eaton's product portfolio and market reach in the motor protection segment.
In December 2023, Schneider Electric and Rockwell Automation, two major players in the automation industry, announced a partnership to develop and offer integrated digital solutions for industrial applications. This collaboration could indirectly benefit the motor protection segment by enabling better monitoring and control of motor systems, potentially improving efficiency and reliability.
Key Target Audience
Motor Protection Devices Manufacturers, Raw Material Suppliers, Motor Protection Devices Suppliers, Governments and Research Organizations, Investment banks and Potential Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.