Low Voltage Product and System Market Size, Trends and Insights By Product Type (Low Voltage Switchgear, Low Voltage Transformers, Low Voltage Cables, Low Voltage Motors And Drives, Other Low Voltage Products), By Installation Type (Overhead, Underground), By End Use (Commercial, Industrial, Residential, Infrastructure, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI34298

Published Date: November 2023

Pages: 220+

Category: Energy And Power

Report Snapshot

CAGR: 5.9%
150B
2022
158.9B
2023
278.7B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Schneider Electric
  • ABB Ltd
  • Siemens AG
  • Eaton Corporation
  • Legrand Group
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Low Voltage Product and System Market is expected to record a CAGR of 5.9% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 158.9 Billion. By 2032, the valuation is anticipated to reach USD 278.7 Billion.

The Low Voltage Product and System and System market encompasses a range of electrical components and integrated systems designed for applications requiring voltage levels below 1,000 volts. It is characterized by its dynamic and evolving nature, driven by technological advancements, energy efficiency, and sustainability.

Key trends in this market include the integration of smart and IoT technologies, a focus on eco-friendly materials and reduced power consumption, and the development of resilient infrastructure to support renewable energy integration, reflecting the ongoing transformation in electrical solutions for various industries.

Low Voltage Product and System Market – Significant Growth Factors

The Low Voltage Product and System and system Market presents significant growth opportunities due to several factors:

  • Rising Energy Efficiency Demands: With a growing emphasis on energy conservation and environmental concerns, there’s a heightened demand for low voltage products and systems that offer improved energy efficiency and reduced power consumption.
  • Smart Technologies Integration: The integration of smart technologies, including IoT and automation, presents opportunities for enhanced control and monitoring, creating a need for advanced low voltage solutions to support these applications.
  • Renewable Energy Fusion: In an era of renewable energy ascendancy, low voltage products and systems find a promising niche in facilitating the seamless assimilation of solar panels, wind turbines, and energy storage systems into prevailing grids.
  • Ubiquitous Urbanization and Infrastructure Uplift: The swift urban expansion and infrastructure upliftment, particularly in emerging markets, are propelling the demand for cutting-edge low voltage solutions in residential, commercial, and industrial domains.
  • Electrification Initiatives: Initiatives to electrify sectors like transportation and heating drive the demand for low voltage products and systems to support electric vehicle charging infrastructure and electric heating solutions.
  • Resilient Infrastructure: Ensuring the reliability and resilience of electrical infrastructure is critical, especially in regions prone to extreme weather events. This presents opportunities for low voltage solutions that can withstand harsh conditions and minimize downtime.

Low Voltage Product and System Market – Mergers and Acquisitions

The Low Voltage Product and System and system Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their Type offerings and profitability. Some notable examples of mergers and acquisitions in the Low Voltage Product and System and system Market include:

  • In January 2020, Schneider Electric initiated a significant expansion of its manufacturing facilities in Leeds and Scarborough, United Kingdom. This expansion was a strategic response to the increasing market demand for renewable technology solutions. Notably, the Leeds and Scarborough sites specialize in the production of low voltage switchgear.
  • In January 2020, Siemens made a noteworthy move by acquiring C&S Electric, a prominent Indian company known for its prowess in switchgear and power equipment. With a strong focus on switchgear, busbar, and metering devices, this acquisition positioned Siemens as a key player in the realm of switchgear production in the Indian market.

These mergers and acquisitions have helped companies expand their Type offerings, improve their market presence, and capitalize on growth opportunities in the Low Voltage Product and System and system Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Low Voltage Product and System Market Smart Grid Market Solar PV Supply Chain Market
CAGR 5.9% (Approx) CAGR 6.75% (Approx) CAGR 13.1% (Approx)
USD 278.7 Billion by 2032 USD 185.6 Billion by 2032 USD 326.2 Billion by 2032

Low Voltage Product and System Market – Significant Threats

The Low Voltage Product and System and system Market face several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Economic Instability: Economic downturns and financial unpredictability may curtail investments in infrastructure and construction ventures, potentially diminishing the demand for low voltage offerings.
  • =Rivalry Intensity: Fierce competition within the market can trigger price battles and erode profit margins for manufacturers and suppliers.
  • Regulatory Shifts: Evolving regulations and standards, notably in safety and environmental domains, can necessitate costly adaptations in product design and manufacturing methodologies.
  • Supply Chain Disruptions: Global occurrences like natural disasters or geopolitical conflicts have the potential to disrupt the supply chain, leading to delays and escalated costs.
  • Technological Turbulence: Swift technological advancements can render current products and systems outdated, compelling companies to swiftly adjust to emerging innovations.
  • Cybersecurity Vulnerabilities: With increased connectivity, there’s a heightened risk of cybersecurity breaches, posing threats to the dependability and security of low voltage systems.
  • Environmental Considerations: Growing environmental consciousness may propel a shift away from certain low voltage technologies perceived as less eco-friendly.
  • Price Volatility: Oscillations in the costs of raw materials, especially metals, can influence the manufacturing expenses of low voltage products.
  • Geopolitical Variables: Trade disputes and political instability can have an impact on the global supply chain and the dynamics of the market.
  • Market Saturation: In well-established markets, saturation can result in slower growth and amplify the necessity for companies to discover new market niches or diversify their product portfolios.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 158.9 Billion
Projected Market Size in 2032 USD 278.7 Billion
Market Size in 2022 USD 150 Billion
CAGR Growth Rate 5.9% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Product Type, Installation Type, End Use and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Product Type:

  • Low Voltage Switchgear: Low voltage switchgear refers to a crucial component in electrical distribution systems. It encompasses devices like circuit breakers, fuses, and switches designed to control, protect, and isolate electrical circuits. Trends include the integration of digital technologies for remote monitoring, enhanced safety features, and increased eco-friendliness.
  • Low Voltage Transformers: Low voltage transformers are devices that modify electrical voltage levels for distribution and consumption. Trends in this segment revolve around energy-efficient designs, smart transformers with monitoring capabilities, and an emphasis on reducing energy losses.
  • Low Voltage Cables: Low voltage cables are essential for transmitting electricity from the source to various devices. Key trends include the development of eco-friendly and fire-resistant cable materials, as well as the growing demand for high-capacity, flexible cables for versatile applications.
  • Low Voltage Motors and Drives: These components power various machinery and equipment. Trends include the adoption of energy-efficient motors, variable speed drives for precise control, and predictive maintenance features to improve reliability and reduce downtime.
  • Other Low Voltage Products: This category encompasses a wide range of auxiliary products, such as distribution boards, surge protectors, and connectors. Trends here involve improved safety features, integration with IoT for monitoring, and the development of compact, space-saving solutions to meet evolving user needs.

Global Low Voltage Product and System Market 2023–2032 (By Billion)

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By Installation Type

  • Overhead Installation: Overhead installations in the Low Voltage Product and System and system market involve electrical distribution systems where conductors and cables are placed above ground, often on utility poles. These systems are commonly used in rural and urban areas. The trend in this segment focuses on improving the resilience and safety of overhead installations, with innovations in materials and designs to withstand extreme weather conditions. Additionally, there’s a shift towards incorporating smart technologies for better monitoring and maintenance, reducing downtime and enhancing overall efficiency.
  • Underground Installation: Underground installations involve burying electrical cables and components below the surface. These systems are often preferred in urban areas for aesthetic reasons and improved reliability. In this segment, the trend is towards the expansion of underground networks, particularly in densely populated regions, to enhance grid reliability. Additionally, the use of eco-friendly and durable materials for underground cabling and infrastructure is gaining prominence, aligning with sustainability objectives in the low voltage market.

By End use

  • Commercial: Within the Low Voltage Product and System and system market, the “commercial” sector pertains to the utilization of these solutions in structures and establishments designed for business and service activities. Ongoing trends encompass a heightened quest for energy-efficient systems, advanced building automation to enhance comfort and security, and a growing reliance on smart technologies for optimized operational functionality.
  • Industrial: The “industrial” division encompasses the implementation of low voltage products and systems within manufacturing plants and industrial facilities. Noteworthy trends encompass a concentration on industrial automation, robust and enduring components, and the assimilation of predictive maintenance solutions to elevate productivity and mitigate operational disruptions.
  • Residential: The “residential” sector encapsulates the application of low voltage products and systems in domestic settings. Key trends include the uptake of smart home technology, an intensified emphasis on energy conservation, and the amalgamation of renewable energy sources like solar panels to curtail energy expenditures.
  • Infrastructure: The “infrastructure” segment relates to the deployment of low voltage systems in pivotal infrastructure sectors, including transportation, healthcare, and utilities. Trend dynamics encompass the fortification of electrical infrastructure resilience, the incorporation of electric vehicle charging networks, and the deployment of low voltage solutions to optimize public service efficiency and dependability.
  • Others: The “others” category encompasses a diverse array of applications, ranging from data centers to educational institutions and entertainment venues. Emerging trends within this sector entail the demand for dependable power distribution in data centers, the implementation of sophisticated lighting and control systems in educational establishments, and the integration of low voltage products to enhance entertainment and event management capabilities.

Global Low Voltage Product and System Market 2023–2032 (By Installation Type)

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Low Voltage Product and System Market – Regional Analysis

The Low Voltage Product and System and System Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In the Low Voltage Product and System market, “North America” denotes the geographical expanse covering the United States, Canada, and Mexico. Noteworthy trends include an escalating emphasis on sustainable and intelligent solutions, coupled with the expanding use of energy-conserving products. Market dynamics also entail a pronounced demand for infrastructure upgrades and the modernization of power grids, spurred by environmental consciousness and government-backed initiatives.
  • Europe: In Europe, the Low Voltage Product and System market covers the European Union countries and surrounding regions. Trends comprise a strong emphasis on renewable energy integration, stringent environmental regulations, and a surge in smart building projects, fostering the adoption of advanced low voltage solutions.
  • Asia-Pacific: The Asia-Pacific region, spanning from China and India to Japan and Australia, experiences trends marked by rapid urbanization, industrialization, and the increasing embrace of advanced manufacturing technologies. The market also witnesses substantial growth in renewable energy infrastructure and the rapid expansion of smart city initiatives, thereby propelling the demand for low voltage products.
  • LAMEA: The LAMEA region, encompassing Latin America, the Middle East, and Africa, observes trends in low voltage products, driven by infrastructure development, expanding industries, and increasing electrification efforts. A focus on reliable power distribution, energy-efficient systems, and renewable energy adoption characterizes the market dynamics in this region.

Global Low Voltage Product and System Market 2023–2032 (By End Use)

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Competitive Landscape – Low Voltage Product and System Market

The Low Voltage Product and System and system Market is highly competitive, with a large number of manufacturers and others operating globally. Some of the key players in the market include:

  • Schneider Electric
  • ABB Ltd
  • Siemens AG
  • Eaton Corporation
  • Legrand Group
  • General Electric (GE)
  • Rockwell Automation
  • Mitsubishi Electric Corporation
  • Honeywell International Inc.
  • Emerson Electric Co.
  • Larsen & Toubro (L&T)
  • Fuji Electric Co. Ltd.
  • WEG S.A.
  • Socomec
  • Hager Group
  • Others

These companies operate in the market through various strategies such as application innovation, mergers and acquisitions, and partnerships.

Innovative new players entering the Low Voltage Product and System market are capitalizing on technological advancements and sustainability trends. They focus on developing smart and energy-efficient solutions, often incorporating IoT and renewable energy integration. Startups and technology firms are leveraging their expertise in digitalization and connectivity to offer disruptive products.

Key players dominating the market are established giants like Schneider Electric, ABB, Siemens, and Eaton. They maintain dominance through extensive R&D investments, global reach, and comprehensive product portfolios. These industry leaders often acquire smaller innovative companies to expand their offerings and stay at the forefront of market developments. Their widespread presence and longstanding reputation give them a significant competitive edge.

The Low Voltage Product and System Market is segmented as follows:

By Product Type

  • Low Voltage Switchgear
  • Low Voltage Transformers
  • Low Voltage Cables
  • Low Voltage Motors And Drives
  • Other Low Voltage Products

By Installation Type

  • Overhead
  • Underground

 By End Use

  • Commercial
  • Industrial
  • Residential
  • Infrastructure
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Low Voltage Product and System Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Low Voltage Product and System Market: snapshot
  • Chapter 3. Global Low Voltage Product and System Market – Industry Analysis
    • 3.1 Low Voltage Product and System Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rising Energy Efficiency Demands
      • 3.2.2 Smart Technologies Integration
      • 3.2.3 Renewable Energy Fusion
      • 3.2.4 Ubiquitous Urbanization and Infrastructure Uplift
      • 3.2.5 Electrification Initiatives
      • 3.2.6 Resilient Infrastructure.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Product Type
      • 3.7.2 Market Attractiveness Analysis By Installation Type
      • 3.7.3 Market Attractiveness Analysis By End Use
  • Chapter 4. Global Low Voltage Product and System Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Low Voltage Product and System Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Low Voltage Product and System Market – Product Type Analysis
    • 5.1 Global Low Voltage Product and System Market Overview: By Product Type
      • 5.1.1 Global Low Voltage Product and System Market Share, By Product Type, 2022 and 2032
    • 5.2 Low Voltage Switchgear
      • 5.2.1 Global Low Voltage Product and System Market by Low Voltage Switchgear, 2023 – 2032 (USD Billion)
    • 5.3 Low Voltage Transformers
      • 5.3.1 Global Low Voltage Product and System Market by Low Voltage Transformers, 2023 – 2032 (USD Billion)
    • 5.4 Low Voltage Cables
      • 5.4.1 Global Low Voltage Product and System Market by Low Voltage Cables, 2023 – 2032 (USD Billion)
    • 5.5 Low Voltage Motors And Drives
      • 5.5.1 Global Low Voltage Product and System Market by Low Voltage Motors And Drives, 2023 – 2032 (USD Billion)
    • 5.6 Other Low Voltage Products
      • 5.6.1 Global Low Voltage Product and System Market by Other Low Voltage Products, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Low Voltage Product and System Market – Installation Type Analysis
    • 6.1 Global Low Voltage Product and System Market Overview: By Installation Type
      • 6.1.1 Global Low Voltage Product and System Market Share, By Installation Type, 2022 and 2032
    • 6.2 Overhead
      • 6.2.1 Global Low Voltage Product and System Market by Overhead, 2023 – 2032 (USD Billion)
    • 6.3 Underground
      • 6.3.1 Global Low Voltage Product and System Market by Underground, 2023 – 2032 (USD Billion)
  • Chapter 7. Global Low Voltage Product and System Market – End Use Analysis
    • 7.1 Global Low Voltage Product and System Market Overview: By End Use
      • 7.1.1 Global Low Voltage Product and System Market Share, By End Use, 2022 and 2032
    • 7.2 Commercial
      • 7.2.1 Global Low Voltage Product and System Market by Commercial, 2023 – 2032 (USD Billion)
    • 7.3 Industrial
      • 7.3.1 Global Low Voltage Product and System Market by Industrial, 2023 – 2032 (USD Billion)
    • 7.4 Residential
      • 7.4.1 Global Low Voltage Product and System Market by Residential, 2023 – 2032 (USD Billion)
    • 7.5 Infrastructure
      • 7.5.1 Global Low Voltage Product and System Market by Infrastructure, 2023 – 2032 (USD Billion)
    • 7.6 Others
      • 7.6.1 Global Low Voltage Product and System Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 8. Low Voltage Product and System Market – Regional Analysis
    • 8.1 Global Low Voltage Product and System Market Regional Overview
    • 8.2 Global Low Voltage Product and System Market Share, by Region, 2022 & 2032 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Low Voltage Product and System Market, 2023 – 2032 (USD Billion)
        • 8.3.1.1 North America Low Voltage Product and System Market, by Country, 2023 – 2032 (USD Billion)
    • 8.4 North America Low Voltage Product and System Market, by Product Type, 2023 – 2032
      • 8.4.1 North America Low Voltage Product and System Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.5 North America Low Voltage Product and System Market, by Installation Type, 2023 – 2032
      • 8.5.1 North America Low Voltage Product and System Market, by Installation Type, 2023 – 2032 (USD Billion)
    • 8.6 North America Low Voltage Product and System Market, by End Use, 2023 – 2032
      • 8.6.1 North America Low Voltage Product and System Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Low Voltage Product and System Market, 2023 – 2032 (USD Billion)
        • 8.7.1.1 Europe Low Voltage Product and System Market, by Country, 2023 – 2032 (USD Billion)
    • 8.8 Europe Low Voltage Product and System Market, by Product Type, 2023 – 2032
      • 8.8.1 Europe Low Voltage Product and System Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.9 Europe Low Voltage Product and System Market, by Installation Type, 2023 – 2032
      • 8.9.1 Europe Low Voltage Product and System Market, by Installation Type, 2023 – 2032 (USD Billion)
    • 8.10 Europe Low Voltage Product and System Market, by End Use, 2023 – 2032
      • 8.10.1 Europe Low Voltage Product and System Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Low Voltage Product and System Market, 2023 – 2032 (USD Billion)
        • 8.11.1.1 Asia Pacific Low Voltage Product and System Market, by Country, 2023 – 2032 (USD Billion)
    • 8.12 Asia Pacific Low Voltage Product and System Market, by Product Type, 2023 – 2032
      • 8.12.1 Asia Pacific Low Voltage Product and System Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.13 Asia Pacific Low Voltage Product and System Market, by Installation Type, 2023 – 2032
      • 8.13.1 Asia Pacific Low Voltage Product and System Market, by Installation Type, 2023 – 2032 (USD Billion)
    • 8.14 Asia Pacific Low Voltage Product and System Market, by End Use, 2023 – 2032
      • 8.14.1 Asia Pacific Low Voltage Product and System Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Low Voltage Product and System Market, 2023 – 2032 (USD Billion)
        • 8.15.1.1 Latin America Low Voltage Product and System Market, by Country, 2023 – 2032 (USD Billion)
    • 8.16 Latin America Low Voltage Product and System Market, by Product Type, 2023 – 2032
      • 8.16.1 Latin America Low Voltage Product and System Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.17 Latin America Low Voltage Product and System Market, by Installation Type, 2023 – 2032
      • 8.17.1 Latin America Low Voltage Product and System Market, by Installation Type, 2023 – 2032 (USD Billion)
    • 8.18 Latin America Low Voltage Product and System Market, by End Use, 2023 – 2032
      • 8.18.1 Latin America Low Voltage Product and System Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Low Voltage Product and System Market, 2023 – 2032 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Low Voltage Product and System Market, by Country, 2023 – 2032 (USD Billion)
    • 8.20 The Middle-East and Africa Low Voltage Product and System Market, by Product Type, 2023 – 2032
      • 8.20.1 The Middle-East and Africa Low Voltage Product and System Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.21 The Middle-East and Africa Low Voltage Product and System Market, by Installation Type, 2023 – 2032
      • 8.21.1 The Middle-East and Africa Low Voltage Product and System Market, by Installation Type, 2023 – 2032 (USD Billion)
    • 8.22 The Middle-East and Africa Low Voltage Product and System Market, by End Use, 2023 – 2032
      • 8.22.1 The Middle-East and Africa Low Voltage Product and System Market, by End Use, 2023 – 2032 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Schneider Electric
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 ABB Ltd
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Siemens AG
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Eaton Corporation
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Legrand Group
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 General Electric (GE)
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Rockwell Automation
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Mitsubishi Electric Corporation
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Honeywell International Inc.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Emerson Electric Co.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Larsen & Toubro (L&T)
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Fuji Electric Co. Ltd.
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 WEG S.A.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 Socomec
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 Hager Group
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 Others.
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
List Of Figures

Figures No 1 to 28

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Schneider Electric
  • ABB Ltd
  • Siemens AG
  • Eaton Corporation
  • Legrand Group
  • General Electric (GE)
  • Rockwell Automation
  • Mitsubishi Electric Corporation
  • Honeywell International Inc.
  • Emerson Electric Co.
  • Larsen & Toubro (L&T)
  • Fuji Electric Co. Ltd.
  • WEG S.A.
  • Socomec
  • Hager Group
  • Others

FAQs

The key factors driving the Market are Rising Energy Efficiency Demands, Smart Technologies Integration, Renewable Energy Fusion, Ubiquitous Urbanization and Infrastructure Uplift, Electrification Initiatives And Resilient Infrastructure.

The “Low Voltage Switchgear” category dominated the market in 2022.

The key players in the market are Schneider Electric, ABB Ltd, Siemens AG, Eaton Corporation, Legrand Group, General Electric (GE), Rockwell Automation, Mitsubishi Electric Corporation, Honeywell International Inc., Emerson Electric Co., Larsen & Toubro (L&T), Fuji Electric Co. Ltd., WEG S.A., Socomec, Hager Group, Others.

“Asia-Pacific” had the largest share in the Low Voltage Product and System Market.

The global market is projected to grow at a CAGR of 5.9% during the forecast period, 2023-2032.

The Low Voltage Product and System Market size was valued at USD 158.9 Billion in 2023.

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