The ‘Global Motor Control Centre Market Price, Size, Share, Trends, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global motor control centre market, assessing the market on the basis of its segments like type, voltage, component, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Motor Control Centre Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 5.21 billion
• Forecast CAGR (2023-2028): 5.40%
| Report Attribute | Details |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Base Year | 2022 |
| Market Size in 2022 | USD 5.21 billion |
| Growth Rate CAGR | 5.40% |
| Major Players | Siemens AG, ABB Ltd, Mitsubishi Electric Corporation, Schneider Electric, Powell Industries, Rockwell Automation, Inc., and Eaton Corp., among others. |
The motor control centre market is expected to grow as a result of the growing emphasis of various industries on streamlining their processes. Automation is being used more frequently in production facilities by developing nations worldwide. The market players have been primarily focused on technological advancements to enable automation and increase power generation capacity.
Various sectors have begun automating their operations through motor control centres (MCCs), in response to the rising demand for energy efficiency, enhanced productivity, and compliance with stricter safety regulations, which is further increasing motor control centre market value. The need for more affordable solutions, decreased downtime, and reduction in equipment damage are driving the implementation of motor control centres.
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The implementation of MCCs worldwide has been greatly accelerated by initiatives to update the current power infrastructure in order to meet the world’s rising energy needs. Furthermore, energy providers are increasingly focussing on providing a reliable electricity supply and optimise safety in the distribution and transmission networks.
The advent of advanced MCCs is also assisting in the motor control centre market expansion since they provide real-time monitoring capabilities, enable predictive maintenance, and help with enhanced electronic system diagnostics. Additionally, are increasingly adopting MCCs that support the Internet of Things (IoT) to create advanced control modules and incorporate smart devices with medium voltage versions.
Motor Control Centre Industry Definition and Major Segments
A motor control centre is an assemblage of combination starters used in a manufacturing or processing plant. It has enclosed panels for feeding, controlling, and safeguarding circuits. These facilities may have programmable controls and variable frequency drives, which can facilitate automation. These controllers may serve as the facility’s initial point of entry for power.
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By type, the market is bifurcated into:
• Conventional Motor
• Smart Motor
The market on the basis of voltage is segmented into:
• Low Voltage
• Medium Voltage
Based on component, the market is divided into:
• Overload Relays
• Circuit Breakers and Fuses
• Soft Starters
• Busbars
• Variable Speed Drives
• Others
On the basis of end use, the market is categorised into:
• Oil and Gas
• Iron and Steel
• Minerals and Mining
• Food and Beverage
• Automotive
• Others
Based on region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Motor Control Centre Market Trends
The motor control centre market is anticipated to grow rapidly as a result of key players concentrating on continuous development and release of improved products. Due to higher production and efficiency driven by its use, the smart motor segment is anticipated to grow rapidly during the forecast period. It is also being used in industries more and more often because it requires less components than traditional motors.
The low voltage category is anticipated to have a significant share of the market because of its widespread implementation across a variety of industries, including food and beverage, paper and pulp, metal and mining, among others,. During the anticipated period, the growing demand for low-voltage control centres from various sectors may significantly accelerate motor control centre market expansion.
During the anticipated period, the MCC market is predicted to grow rapidly in Asia Pacific. The demand for motor control centres in the region is being driven by increasing industrial automation along with the expansion of numerous industries like chemicals, power, and oil and gas. Due to their rapid economic growth and industrialisation, nations like China, Japan, India, and Australia dominate the Asia Pacific market.
Key Market Players
The major players in the global motor control centre market report are
- Siemens AG
- ABB Ltd
- Mitsubishi Electric Corporation
- Schneider Electric
- Powell Industries
- Rockwell Automation, Inc.
- Eaton Corp.
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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