Global Motor Control Centers Market Scenario
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 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.
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The widely accepted status of Motor Control Centers in various industrial & commercial sectors as a safety part due to various properties is expected to spur the motor control centers market in the coming period. The usage of motor control centers in industrial sectors is projected to expand the scope for progress in the coming period.
Segmental Analysis
The segmental investigation of the motor control center market is conducted on the basis of type, voltage, component, end-user, and region.
On the basis of type, the motor control centers market is segmented into intelligent motor control centers and conventional motor control centers.
Based on the voltage, the motor control center market is segmented into low voltage and medium voltage.
Based on the Component, the motor control center market is segmented into circuit breakers & fuses, busbars, variable speed drives, overload relays, soft starters, and others.
On the basis of End User, the motor control center market is commercial, industrial, and utilities.
Based on the region, motor control center market is segmented into Europe, Asia Pacific, North America, and other regions.
Regional Insights
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.
The motor control center market is motivated by the requirement for reliable electric resources, highest safety in transmission & distribution system, and also the savings into the substitute of developed electric grid structures with recently upgraded ones. The Asia Pacific region is the principal regional market for motor control centers. The brisk industrialization pace, urbanization, and rapid economic expansion in nations such as India and China, is anticipated to run the market for motor control centers.
Competitive Analysis
The change in the way’s consumers interrelate with market companies is also opening up new business models. The fastest-growing companies are initiating a dramatic growth phase in the market in recent times. The extensive set of capabilities developed by market players is aiding in accelerating and delivering sustainable growth. The high-growth aspirations currently in place are inspiring a profound level of development in the market. Moreover, the companies are also well equipped to effectively implement their growth strategy over the long term. As the companies are making their customers an important focal point for strategy formulation, they are creating a strong competitive advantage in today’s turbulent market. The market competitors are making decisions that are improving business performance and supervise risk. The strategic intent in the market of players is enhancing the operations in the market overall. Furthermore, the market leaders are considering streamlining all aspects of operations at a macro and micro level in the global market.
The fundamental contenders in the motor control centers market are Siemens AG (Germany), Mitsubishi Electric Corporation (Japan), ABB, Ltd. (Switzerland), Schneider Electric SE (France), General Electric (U.S.), Rockwell Automation (U.S.), Hyosung Corporation (South Korea), Larsen & Toubro Limited (India), Technical Control Systems Ltd. (U.K), and WEG S.A. (Brazil).
Industrial Updates
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.
Global Motor Control Centers Market Report at: https://www.marketresearchfuture.com/reports/motor-control-centers-market-4105
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