Press release
Low Voltage Components Market Forecast 2025-2035: Market to Reach USD 22.9 Billion by 2035 at 4.9% CAGR
Read Full Report-https://www.futuremarketinsights.com/reports/low-voltage-components-market
Market snapshot: global market 2025 - 2035
Market size 2025? USD 14.2 billion
Market size 2035? USD 22.9 billion
CAGR (2025-2035)? 4.9%
Leading component type and share? Switches (~38% market share in 2025)
Other key component shares? Protection (~28%), Control (~21%), Conversion (~13%)
Leading application and share? Industrial automation (~36% market share in 2025)
Other key application shares? Building power distribution (~32%), Transportation (~19%), Other (~13%)
Key growth regions? Asia Pacific, Europe, and North America
Top companies? ABB, Schneider Electric, Siemens, Eaton, CHINT, Logstrup, DFKRA, NATUS, Himel, NOARK Electric, Sprecher Automation, Shonco Engineering, CHS Controls
Market Momentum (YoY Path)
The low voltage components market follows a consistent upward trajectory through the forecast period. Starting at USD 14.2 billion in 2025, the market is expected to demonstrate stable annual progression driven by ongoing infrastructure investments and automation adoption. While exact intermediate yearly values are not uniformly detailed, key milestones include continued compounding growth toward approximately USD 18-19 billion range by 2030-2031, accelerating further in high-growth regions to reach USD 22.9 billion by 2035 at the established 4.9% CAGR.
Why the Market is Growing
The low voltage components market expands as industrial facilities, commercial buildings, and infrastructure operators seek superior electrical safety, energy efficiency, and operational reliability to comply with increasingly stringent electrical codes and performance standards. Modern systems deliver 15-25% reductions in electrical losses and downtime compared to legacy installations. The industrial automation surge demands reliable distribution for variable frequency drives, servo systems, and sensitive loads. Smart building initiatives drive integration of communicating components for lighting, HVAC optimization, and energy monitoring. Government mandates for arc-fault protection, ground-fault monitoring, and energy-efficient installations, alongside the shift to renewable energy and EV charging infrastructure, further accelerate adoption of specialized low voltage components capable of bidirectional flow, DC distribution, and microgrid support.
Segment Spotlight
Component Type
Switches lead the low voltage components market with approximately 38% share in 2025, encompassing circuit breakers, contactors, disconnectors, and load break switches. This dominance arises from universal application across all electrical installations, mandatory safety-driven replacement cycles, and ongoing advancements toward smart, communication-enabled devices with electronic trip units.
Application
Industrial automation commands the largest portion at ~36% market share in 2025, reflecting its critical role in manufacturing competitiveness, process control, motor control, machine safety, and energy management across discrete, process, and logistics operations.
Region
Asia Pacific stands out as the primary growth engine, anchored by rapid industrialization in China and India, followed by steady expansion in Europe (led by Germany) and North America, where data centers, EV infrastructure, and automation upgrades sustain demand.
Drivers, Opportunities, Trends, Challenges
Drivers
Strong drivers include industrial automation expansion requiring reliable motor control and safety components, intensifying electrical safety regulations mandating arc-fault and ground-fault features (especially in Asia-Pacific, Middle East, and Latin America), and smart building programs that reduce energy use by 12-18% through intelligent load management.
Opportunities
emerge from geographic expansion in Asia-Pacific industrial corridors, Middle Eastern infrastructure, and Latin American utility programs, alongside premium demand in data centers and renewable applications through technology differentiation.
Trends
Key trends feature accelerated IoT-enabled low voltage components with predictive maintenance, energy analytics, and cloud connectivity, transforming distribution into intelligent power ecosystems, with fastest uptake in China and India.
Challenges
involve commodity price volatility (copper, aluminum, electronics), long 15-25 year lifecycles limiting upgrades in mature markets, supply chain disruptions, price competition in commoditized categories, and technical fragmentation from regional standards/certifications.
Competitive Landscape
The low voltage components market features moderate fragmentation with 30-40 meaningful players; the top three hold roughly 22-28% global share. ABB leads (~9.5%) with its broad portfolio and global service network, followed closely by Schneider Electric and Siemens, which excel through extensive ranges, automation platform integration, and R&D in smart/IoT technologies. Eaton, CHINT, and Logstrup compete via regional strength and pricing, while specialists like DFKRA, NATUS, Himel, NOARK Electric, and Sprecher Automation focus on niche categories, custom solutions, and rapid support.
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Scope of the Report
Quantitative Units: USD million/billion (market value)
Segmentation: By component type (Switches, Protection, Control, Conversion), by application (Industrial Automation, Building Power Distribution, Transportation, Other)
Regions Covered: Asia Pacific, Europe, North America, Latin America, Middle East & Africa
Countries Covered: China, India, Germany, Brazil, U.S., U.K., Japan, and 40+ additional countries
Key Companies Profiled: ABB, Logstrup, DFKRA, CHINT, NATUS, Shonco Engineering, CHS Controls, Himel, Schneider Electric, Eaton, NOARK Electric, Sprecher Automation, Siemens
FAQ
What is the current size of the low voltage components market? The low voltage components market stands at USD 14.2 billion in 2025.
What will be the projected value of the low voltage components market by 2035? The market is forecast to reach USD 22.9 billion by 2035.
What is the expected CAGR for the low voltage components market? The forecast CAGR from 2025 to 2035 is 4.9%.
Which component type holds the leading share? Switches represent the dominant segment with approximately 38% market share in 2025.
Which application segment is the largest? Industrial automation leads with approximately 36% market share in 2025.
Which regions show the strongest growth? Asia Pacific leads growth, followed by Europe and North America.
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