Motor Protection Market is Expected to Reach USD 5.09 Billion by 2020

Date: 2015-12-13

The motor protection market is expected to reach USD 5.09 billion by 2020, at a CAGR of 6.86% during the forecast period. Motor protection devices are vital for preventing motors from over current and thus minimizing costly downtimes. Asia-Pacific and the Middle East & Africa regions are increasing investments in infrastructure, power, and oil & gas industries, which are the major driving factors of the motor protection market. Moreover, growing awareness in motor safety is expected to positively contribute to the market. Meanwhile, there has been a rise in the number of offshore oil discoveries in Africa, especially in Congo, Angola, Nigeria and Equatorial Guinea, which provides attractive growth opportunity to the motor protection market.

“Oil & gas industry leading the global market”
The oil & gas segment is expected to lead the global motor protection market. The high growth is attributed to rise in energy demand, global new oil discoveries, growing focus on deepwater drilling, and potential discoveries in the Arctic region. The rise in global demand for energy is making global E&P players to search for new discoveries, driving the motor protection market.

“Asia-Pacific: The largest market share for motor protection market”
The Asia-Pacific region is witnessing rapid industrialization and infrastructural development. China, Japan, and India are the key countries responsible for the rapid growth of combination starters in the region. The increasing demand for motors coupled with growing concerns regarding motor control and protection is likely to boost the demand for motor protection market in the region.

The report profiles leading players in the industry along with their recent developments and other strategic activities. Key players include ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), Eaton Corporation (Ireland), and General Electric Company (U.S.). 

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