Motor Control Centers Market Size, Share, Trend, Regional Outlook, Gross Margin and Forecast to 2023 | MRFR


Posted April 17, 2019 by DhanashreeP

Motor Control Centers Market is estimated to grow over the CAGR of 5.95% during the period 2017 to 2023, Global Motor Control Centers Market Report categorizes the Global Market by Type, Voltage, Component, End User, and Region
 
Motor control centers comprise of entirely enclosed, dead front, self-standing structures anchored together. These sections supports and host control units, a common busbars for distributing power to the control units, and a network of wire trough and conductor entrance areas for accommodating inward and outward load and control wires. Growing electricity demand coupled with growing concern for safe transmission & distribution of electricity and the increasing grid infrastructure, will boost the global motor control centers market size over the forecast timeline. The motor control centers provides the most appropriate method for grouping electrical motor control, automation, and power distribution in compact and cost-effective package.

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Market Highlights

The need for continuous uninterrupted electric supply is growing because of the worldwide rise in population and rapid industrialization. The increasing need of reliable electric supply and subsequent investment in transmission & distribution network, grid expansion, and developing safe electrical infrastructure is expected to drive the growth of the global motor control centers market.

The motor control centers market in the Asia-Pacific region is expected to grow the fastest during the forecast period. The rapid industrialization, urbanization, and fast economic growth with growing electrical infrastructure in the countries such as India and China, will drive the market for motor control centers.

Key Players

The key players of global Motor Control Centers market are General Electric (U.S.), Siemens AG (Germany), ABB, Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Larsen & Toubro Limited (India), Technical Control Systems Ltd. (U.K), and WEG S.A. (Brazil).

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Industry Segmentation

The global motor control centers market has been analyzed based on type, voltage, components, end-users and regions. On the basis of type, the global motor control centers system market has been segmented as conventional and intelligent. Based on voltage, it is classified as, low voltage and medium voltage. Based on components, it is classified as busbars, circuit breakers & fuses, overload relays, variable speed drives, soft starters and others. Based on end-users, it is further classified as industrial & commercial and utilities.

Regional Outlook

Rapid urbanization & industrialization in countries such as China, India, Indonesia and Australia demand continuous electric supply for the operations of industries, data centers, emergency services, and commercial & household purposes. Ageing conventional transmission & distribution network often hinders the supply for continuous power. This is creating a lucrative market for motor control centers in this region.

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Last Updated April 17, 2019