The global motor control centers market is projected to grow at a CAGR of 5.3% from 2016 to 2021, to reach a size of USD 5.83 Billion by 2021. This growth is attributed to increasing demand for industrial automation and growing concerns for energy efficiency across major industries.
On the basis of end-user industry, the report segments motor control centers market into commercial and industrial. The latter has been further subsegmented into chemicals & petrochemicals, oil & gas, mining & metals, cement, utilities, food & beverage, and others. Others include pulp & paper, wastewater treatment, automobile, and pharmaceutical industries. The utility and chemicals & petrochemicals segments are forecast to lead in terms of growth rate during the forecast period.
“The motor control centers market is projected to grow at a CAGR of 5.3% from 2016 to 2021”
Motor control center is a cost-effective solution to prevent downtime and equipment damage. Increased industrial automation and up gradation of power infrastructure are expected to drive the motor control centers market. Motor control centers are employed in almost all major industries including oil & gas, chemicals & petrochemicals, food & beverage, utilities, and metals & mining. Given the growing demand for motor control solution equipment in these industries, the demand for motor control centers is set to increase in the coming years.
Complete report on Motor Control Centers Market spread across 171 pages, profiling 14 companies and supported with 85 tables and 54 figures is now available at http://www.rnrmarketresearch.com/motor-control-centers-market-by-type-intelligent-conventional-by-voltage-lv-mv-by-end-user-industrial-commercial-by-component-circuit-breakers-fuses-vfds-overload-relays-soft-starters-bus-bars-others-global-forecast-and-trend-market-report.html
“Asia-Pacific: The largest market for motor control centers”
Asia-Pacific is currently the largest market for motor control centers, closely followed by North America. Growing industrial automation and growth of various industries, such as, chemicals, power, and oil & gas are driving the demand for motor control centers in the region. The Asia-Pacific market is primarily driven by countries such as China, Japan, India, and Australia where there is a steep demand for motors. The market in this region is projected to grow at a higher rate, with India and China expected to register the fastest growth within the region.
“Low voltage segment to dominate the global motor control centers market”
With regard to voltage, the low voltage segment is estimated to be largest market for motor control centers in 2016. Motor control centers are centralized hubs comprising motor control units sharing a common power bus. Each section of a motor control center features soft starters, feeders, transformers, adjustable frequency drives, overload relays, circuit breakers, and panel boards, among others. Meanwhile, medium voltage is the fastest growing segment for motor control centers. This growth is attributed to growing concern about energy savings and the need to reduce unplanned downtime in oil & gas and other major industries.
Some of the leading players in the motor control centers market include ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Corporation (Ireland), Schneider Electric (France), Fuji Electric (Japan), Rockwell Corporation (U.S.), General Electric (U.S.), Mitsubishi Electric Corporation (Japan), and WEG SA (Brazil), among others. New product launches was the most common strategy adopted by the top players in the market, constituting more than one-third of the total development share. It was followed by contracts & agreements, expansions, and mergers & acquisition.
The report provides insights about the following points:
Market Penetration: Comprehensive information on motor control center equipment offered by top players in the global motor control centers market
Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the motor control centers market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for motor control centers across regions
Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the global motor control centers market
Competitive Assessment: In-depth assessment of market shares, strategies, and products of leading players in the global motor control centers market
This Report is Priced For USD 5650, Inquire before Buying(Ask Your Quries )Ask for Corporate Discount http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=394875
Market Overview: Market Segmentation By Type, By Component, By Voltage, By Standard, By End User, By Region
Market Dynamics, Drivers, Growing Demand for Industrial Automation in Developed Regions, Regulations Promoting Energy Savings Across Major Industries, Increased Industrial Plant Up-Time, Restraints, Decrease in Greenfield Investment, Opportunities, Increasing Urbanization and Industrialization, Industrial Infrastructure Upgrades in Developed Countries
Challenges: High Level of Complexity is Involved in Maintenance for MCC
Standards, Nema Standards Classification for MCC, International Electrotechnical Commission(Iec) for MCC, Institute of Electrical and Electronic Engineers (IEEE) for MCC, Others
Industry Trends Supply Chain Analysis
Motor Control Centers, By Component, Busbars, Circuit Breaker and Fuses, Overload Relays, Variable Speed Drives, Soft Starters, Others
Motor Control Center Market, By End User Industrial,Oil & Gas, Mining & Metals, Utilities, Chemicals & Petrochemicals, Cement, Food & Beverage, Others, Commercial
Motor Control Centers Market, By Type Conventional MCC, Intelligent MCC
Motor Control Centers Market, By Voltage, Low Voltage MCC, Medium Voltage MCC
Motor Control Centers Market, By Standard,Introduction,Global Motor Control Centers Market By Standards
Motor Control Centers Market, By Region North America, Europe, South America, Asia-Pacific, The Middle East & Africa
Competitive Landscape: Overview, Competitive Situation & Trends, Contracts & Agreements, New Product Launches, Expansions, Mergers & Acquisitions