Low Voltage Motor Control Centers Market is increasing in industrial automation, power sector, and other sectors are increased in use of low voltage electric motors in key industries, and increased industrial plant up time have boosted the demand for low voltage motor control centers.
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Low Voltage Motor Control Centers Market report is brief about the corporate opportunities present in the future for the Low Voltage Motor Control Centers industry.
Complete report is now available on Low Voltage Motor Control Centers Market by Type (Intelligent and Conventional), End-User (Industrial and Commercial), Component (Busbars, Circuit Breakers and Fuses, Overload Relays, VSDS, and Soft Starters), and Region - Global Forecast to 2022 at www.rnrmarketresearch.com/low-volt…rket-report.html
The intelligent motor control centers segment is estimated to be the fastest growing low voltage motor control centers market, by type, from 2017 to 2022. The growth of this segment can be attributed to the increasing levels of industrial automation in Asia-Pacific and the Middle East & Africa regions .While the initial costs of intelligent motor control centers are high, they offer advantages of reduced installation time, lesser wiring, increased reliability, greater speed and precision in defect identification, reduced maintenance time, and remote monitoring and control.
Further, the intelligent motor control centers are more compact when compared to conventional motor control centers.
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All these factors are expected to drive the low voltage motor control centers market during the forecast period.
The low voltage motor control centers market is projected to reach USD 4.03 billion by 2022, at a CAGR of 5.62% from 2017 to 2022.The increasing industrial automation, increased use of low voltage electric motors in key industries, and increased industrial plant up time have boosted the demand for low voltage motor control centers. In addition, the booming power sector and increasing electricity demand globally would further aid the growth of this market.
The stagnancy in the oil & gas industry and the decrease in mining activities in Asia-Pacific, Latin America, and Africa would act as a restraint for the low voltage motor control centers market.
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The industrial segment is estimated to be the largest market for low voltage motor control centers in 2017. Motor control centers are extensively used by industries to control the speed, frequency, voltage, and torque of motors, among other functions.
Moreover, this segment is expected to grow at the highest CAGR from 2017 to 2022. The increasing demand for low voltage electric motors from various industries, such as oil & gas, chemicals, water and wastewater, mining and metals, and paper and pulp, is expected to drive the low voltage motor control centers market in the industrial segment.
Asia-Pacific is estimated to be the largest market for low voltage motor control centers in 2017, followed by North America and Europe. The market in Asia-Pacific is driven by rising industrialization automation, rising electricity demand, and growth of the power sector in the region.
It is projected to grow at the fastest rate during the forecast period. China and India are estimated to be the largest markets for low voltage motor control centers in the region.
In addition, the low voltage motor control centers market is growing at a steady pace in countries, such as, Japan, Malaysia, Australia, and South Korea. These factors are expected to boost the growth of the low voltage motor control centers market in Asia Pacific.
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Break of primary participants in Low Voltage Motor Control Centers Market was as mentioned below:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 28%, Tier 2- 29%, Tier 3- 43%
By Designation: C-Level- 14%, D-Level- 43%, Others- 43%
By Region: Asia-Pacific- 43%,North America- 15%, Europe- 14%, Middle East & Africa- 14%, South America- 14%,
Major players of Low Voltage Motor Control Centers Market Report are:
The leading players in the low voltage motor control centers market include ABB (Switzerland), Schneider Electric (France), Eaton (Ireland), Siemens (Germany), Rockwell Automation (U.S.), and General Electric (U.S.) among others.
Key Benefits of Low Voltage Motor Control Centers Market Report
This report covers the following aspects that will benefit the client:
Market segmentation on the basis of type, application, and region
Market dynamics including drivers, restraints, and opportunities
Porter’s Five Forces analysis
Profile of key players in the global Low Voltage Motor Control Centers market
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