Low Voltage Motor Control Centers Market is driven by opportunities such as Increasing Urbanization & Industrialization, Upgradation of Industrial Infrastructure in Developed Countries, Regulations Promoting Energy Savings Across Major Industries.and Low Voltage Motor Control Centers Market drivers are Growing Demand for Industrial Automation in Developed Regions, Increased Use of Low Voltage Electric Motors in Key Industries, Increased Industrial Plant Uptime.
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The low voltage motor control centers market size is gauged to hit USD 4.03 billion by 2022, low voltage motor control centers market at a CAGR of 5.62% from 2017 to 2022.
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.
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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.
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The key factors driving the growth of this market include increased research activities and R&D investments inthe life science industry, rising number of genome projects, technological advancements in the life science industry, and rising incidence of infectious diseases & genetic disorders. However, limited reimbursements for genetic testing is expected to restrain the growth of this market during the forecast period.
The busbars segment held the largest share of the motor control centers market in 2016. A busbar is the most important component of a motor control center as it acts as a common voltage point for all electrical equipment connected to the MCC.
The industrial end-users of the motor control centers market have been segmented into the oil & gas, mining and metals, utilities, chemicals and petrochemicals, cement and manufacturing, and food and beverage industries.
The report’s target audience includes:
- Motor control centers manufacturers, distributors, and suppliers
- State and national regulatory authorities
- Consulting companies in the energy and power sector
- Institutional investors and shareholders
- Environmental research institutes
- Process industries and power and energy associations
- Government and research organizations
- Petroleum companies
- Energy efficiency consultancies
“Low voltage motor control centers market” spread across 172 pages, profiling 13 companies and supported with 95 tables and 65 figures is now available at www.rnrmarketresearch.com/contacts…unt?rname=1217033
The leading players in the motor control centers market include ABB, Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), Rockwell Automation, Inc.
(U.S.), and General Electric Company (U.S.). New product developments was the most commonly adopted strategy by top players in the market from 2013 to 2017.
It was followed by contracts & agreements, expansions, and mergers & acquisitions.
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Low Voltage Motor Control Centers Market, By Type
Conventional Motor Control Centers
Intelligent Motor Control Centers
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Low Voltage Motor Control Centers Market, By Component
Circuit Breakers & Fuses
Variable Speed Drives
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