Motor Control Centers Market | Business Growth, Opportunities, Trends, Statistics, Competitive, Regi

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Global Motor Control Centers Market Research Report: Forecast to 2023

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

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Copyright © 2017 Market Research Future.

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Summary As per a detailed analysis by Market Research Future (MRFR), the global motor control centers market is predicted to garner 5.95% CAGR during the forecast period (2018-2023).

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.

The surging demand for reliable electric supply is encouraging the growth of the market. A motor control center (MMC) can be defined as a centralized system in which all the combination starters are assembled and are connected through a common source power bus. They are mainly used to control the distribution of power to the electrical motors. The MMC panels comprise program controllers, variable frequency drives, and meeting devices. It is made of a steel structure and contains the combination wire-ways, motor control units bus bars, and internal wiring.

Competitive Landscape The prominent players operating in the global motor control centers market comprises Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (France), ABB, Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Rockwell Automation (U.S.), Larsen & Toubro Limited (India), Hyosung Corporation (South Korea), WEG S.A. (Brazil), and Technical Control Systems Ltd. (U.K).

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

Market Potential and Pitfalls The motor control centers market has witnessed a tectonic surge in the past few years due to the surging demand for reliable electric supply along with subsequent investment in distribution and transmission network, developing safe electrical infrastructure, and grid expansion. Motor control centers are highly accepted across the globe in several commercial and industrial sector due to its properties like controlling the motors in phase from a central position. It also offers flexibility while adhering to the complex distribution of electrical system. It comes with a compact design with low manufacturing cost which makes it permeable to be installed in industrial and utilities sector. Such factors are considered to encourage the motor control centers market growth in the foreseeable future. The growth in grid infrastructure across the world coupled with the constant need for electricity are some of the major factors triggering the demand for motor control centers across the globe. The improvement in safety for MCCs is another major factor likely to stimulate the market growth in the coming years. The requirement for cost-effective solution to reduce equipment damage and downtime is considered to fuel the market growth. The booming industrial automation coupled with the constant upgradation in the power infrastructure are likely to boost the market in the long run.

On the contrary, the fluctuations in the material cost along with the development of new product over conventional motor control centers are some of the major concerns likely to restrict the growth of the market during the review period.

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Copyright Š 2017 Market Research Future.

Global Non-Volatile Memory Market Research Report: Forecast to 2023

Market Segmentation

The global motor control centers market has been segmented on the basis of type, voltage, component, and end-user.

By mode of type, the global motor control centers market has been segmented into intelligent motor control centers and conventional motor control centers.

The voltage segment comprises medium voltage and low voltage. Among these, the low voltage segment is anticipated to command the largest market share owing to the high adoption of low voltage motors across industries.

Based on component, the motor control centers market comprises circuit breakers & fuses, busbars, variable speed drives, overload relays, soft starters, and others. Among these, the busbars segment is predicted to gain prominence as it is considered one of the most important components of a motor control center and acts as a common voltage point for all electrical equipment that are connected to the MCC. The growing efficiency, flexibility, and reliability of busbars along with the requirement for additional wires have resulted in the surging demand for busbars.

The end-users segment constitutes of commercial, industrial, and utilities. Among these, the industrial usage commands a larger share of the total volume of the market. The segment is likely to dominate the market. The evolving industrial development across the world is resulting in the wide application of small and medium voltage motor control centers for safe operations which is likely to enhance the segment’s growth.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

Regional Analysis Geographically, the motor control centers market span across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).

Considering the global scenario, Asia Pacific is considered to lead the market across the globe. The growth has been ascribed to the steady industrialization, rapid economic growth in economies like China and India, and booming urbanization. The high demand for electricity in this region is contributing to the growth of the market. The Chinese market is anticipated to dominate the market in this region. The surging power generation capacity additions coupled with the industrialization projects in India, Japan, and China are likely to spur the growth of the regional market.

Industry Update May 01, 2019: The recently released insulated bus option for Allen-Bradley CENTERLINE 2100 motor control centers from Rockwell Automation has ensured that the industrial workers feel safe and also experience ease of maintenance. The insulated bus is a ready-to-install wrap which is attached to the horizontal bus on an MCC and prevents arc propagation.

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Global Non-Volatile Memory Market Research Report: Forecast to 2023

owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.

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Copyright Š 2017 Market Research Future.