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Global Motor Protection Market will register a CAGR of almost 6.98% by 2023 | Ozone Market Reports

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Ozone Market Reports projects that the Motor Protection market size will grow from USD 4.25 Billion in 2017 to USD 6.38 Billion by 2023, at an estimated CAGR of 6.98%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.

The growth is attributed to growing focus on safety towards motors and robust growth in the HVAC market.The motor protection market, on the basis of device type, has been categorized into four segments: overload relays, vacuum contactors, and combination starters & motor protection circuit breaker. The overload relays segment is expected to hold the largest market share during the forecast period, followed by vacuum contactors. Ease of installation, lower price, and wide range of availability are the major growth drivers of this segment. Moreover, overload relays are in-built in various other motor protection & control equipment such as frequency drives and motor soft starters.

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By Market Players:
ABB Ltd. , Siemens AG , Eaton Corporation PLC. , Schneider Electric SE , General Electric Company , Mitsubishi Electric Corporation , Larsen & Toubro Limited , Fuji Electric Co. Ltd. , Danfoss A/S , Toshiba International Corporation , Chint Electrics Co. Ltd. , , , , , , , , ,

By Rated Power:
Up to 7.5 Kw, 7.5 to 75 Kw, Above 75 Kw, ,

By End-Use Industry:
Oil & Gas , Water & Wastewater , Infrastructure (Residential & Commercial) , Metals & Mining , Food & Beverages

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By Device Type:
Overload Relays , Vacuum Contactors , Combination Starters & Motor Protection Circuit Breaker, ,

The prime objective of this report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report. The readers will find this report very helpful in understanding the market in depth. The data and the information regarding the market are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the industry experts. The facts and data are represented in the report using diagrams, graphs, pie charts, and other pictorial representations. This enhances the visual representation and also helps in understanding the facts much better.

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