Global Motor Control Centers Market
The Global Motor Control Centers Market was valued at USD 4.57 billion in 2016 and is projected to reach USD 7.40 billion by 2025, growing at a CAGR of 5.53% from 2017 to 2025.
A Motor Control Center (MCC) is an assembly of one or more enclosed sections having a common power bus and principally containing motor control units. Motor control centers primarily control the distribution of power to electric motors. Benefits of MCC include - quicker installation at a lower cost, saves floor space, reduced planning and downtime, expandability, increased level of safety, and faster delivery.
1. Market Drivers
1.1 Emerging power sector & augmented power generation capacities globally
1.2 Increasing demand for smart and integrated motor control & protection devices
1.3 Improving industrial infrastructure
1.4 Growing use of electric motors in key industries
1.5 Growing urbanization and industrialization
1.6 Government regulations to promote energy savings across major industries
1.7 High industrial plant uptime
2. Market Restraints
2.1 Reduction in mining activities
2.2 Complexity related with the maintenance of motor control centers
The Global Motor Control Centers Market is segmented on the voltage, component, type, end user, standard, and region.
1.1 Low Voltage
1.2 Medium Voltage
2. By Component:
2.1 Variable Speed Drives
2.2 Soft Starters
2.4 Circuit Breakers and Fuses
2.5 Overload Relays
3. By Type:
3.1 Intelligent Motor Control Centers
3.2 Conventional Motor Control Centers
4. By End User:
4.2.1 Chemicals and Petrochemicals
4.2.2 Cement and Manufacturing
4.2.3 Mining and Metals
4.2.4 Food and Beverage
4.2.5 Oil & Gas
5. By Standard:
6. By Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Eaton Corporation, PLC
2. General Electric Company
3. Rockwell Automation, Inc.
4. Mitsubishi Electric Corporation
5. Technical Control Systems, Ltd.
6. WEG SA
7. Larsen & Toubro Limited
8. Fuji Electric Co., Ltd.
9. ABB, Ltd.
10. Siemens AG
11. Schneider Electric Se
12. Vidhyut Control India Pvt., Ltd.
13. Gemco Controls, Ltd.
15. Lsis Co., Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Motor Control Centers Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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