The global motor control centers market is projected to grow at a CAGR of 5.47%, from 2017 to 2022, to reach a market size of USD 6.22 Billion by 2022. This growth is attributed to increasing industrial automation in developed regions and increasing power generation capacity additions globally. The increased use of electric motors in key industries and increased industrial plant uptime is expected to boost the demand for motor control centers.
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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The low voltage segment is expected to hold the largest share of the motor control centers market, by voltage, during the forecast period
The low voltage segment includes motor control centers of up to 1 kV. The segment is expected to hold the major share due to the widespread adoption of low voltage motors in various industries globally. Low voltage motor control centers are mainly used in the chemicals and petrochemicals, paper and pulp, cement, food and beverage, automobile, oil and gas, cement, and textile industries. The market in Asia-Pacific is the largest for low voltage motor control centers because of rapid industrialization and urbanization in countries such as China and India. All these factors are expected to boost the low voltage motor control centers market.
The busbars segment is the largest motor control centers market, by component
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 increase in the flexibility, efficiency, and reliability of busbars and the elimination of the need for additional wires have led to the rising demand for busbars in the motor control centers market. Busbars are mainly used in utilities to deliver power to buildings and in industrial applications to deliver power to electrical loads.
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
Well Intervention Market by Services (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation, Sand Control, Artificial Lift, Fishing, Others), Type (Light, Medium, Heavy), Application (Onshore & Offshore) & Region - Global Forecast to 2023
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