Motor Control Centers Market

Fatpos Global has released a report titled “Motor Control Centers Market - Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030” which is anticipated to reach USD 6.9 Billion by 2030. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 6.2% between 2020 to 2030. In emerging economies such as China, India, and Brazil, the expansion of the manufacturing sector is expected to remain a key driving force for promoting market growth in smart motor control centers. Given the rising energy demand in the household and oil & gas industries, growth in power infrastructure in the Middle East is expected to encourage the use of intelligent motor control centers. Given the abundance of minerals, the strong infrastructure of the mining industries in China and Australia, together with regulatory support to encourage domestic investment, is expected to increase the use of the commodity. Intelligent motor control centers are often used to control process flow in operations as a predictive maintenance tool. Development in the U.S. and Canadian oil & gas industries is expected to have a positive effect due to the expanded production potential of unconventional sources, including shale gas.

The market report on Motor Control Centers Market includes in-depth insights as:

• The market's estimated value was USD 4.3 billion in the year 2019.
• Region-wise, the market in North America, which held the largest market share of XX.X% in the year 2019, emerged as a key market for Motor Control Centers Market
• Based on Type, the Conventional segment emerged as a key segment in the Motor Control Centers Market, holding a market share of XX.X% in the year 2019.
• Based on Voltage, the Medium segment emerged as a key segment in the Motor Control Centers Market, holding a market share of XX.X% in the year 2019.
• Based on Component, the Overload relays segment emerged as a key segment in the Motor Control Centers Market, holding a market share of XX.X% in the year 2019.
• Based on End Users, Oil & Gas emerged as a key segment in the Motor Control Centers Market
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“The main driver of the market is the need for a cost-effective solution to minimize downtime as well as harm to equipment. In addition, industrial automation growth and continuous upgrading of the power infrastructure are likely to contribute to market growth. Continuous technical developments and discoveries in the communication network would ensure a robust future” said a lead analyst at Fatpos Global.

High levels of automation in manufacturing plants have resulted from technical changes. All manufacturing plants compete to meet standards of quality and safety, achieve maximum productivity and sustain reasonable prices for goods. This has resulted in industries automating their processes, such as motor control centers, via intelligent motor control equipment. This has further resulted in growing demand in developing regions for motor control centers. The demand for motor control centers is driven by the increasing adoption of smart motor control centers that provide diagnostic capabilities, identification of losses, and predictive maintenance features. In energy-intensive applications, motor control centers integrated with process control and smart motor devices can provide better performance. The implementation of automation is therefore likely to boost the market for motor control centers in different industries. The increase in industries such as food and beverage, pharmaceuticals, and pulp and paper can be attributed to the demand for MCCs from developing countries. The global demand for MCC is expected to be powered by continuous technological advances and discoveries in communication and transmission networks. New technologies made to meet industrial requirements are intelligent MCCs (MCQs) with remote diagnostic capabilities and advanced functionality such as loss detection and predictive maintenance.

Motor Control Centers Market is segmented by End-Users into Oil & Gas, Chemical &, Petrochemicals, Utilities, Food & Beverage, Mining, and Others. The oil and gas segment accounted for the largest revenue share of 70% in 2019 and is projected to maintain its lead over the forecast period. Due to large-scale applications in different sectors, the industrial segment is the biggest end-user for motor control centers. Oil and gas, chemicals, mining and metals, cement, and services have been further sub-segmented into the industrial segment. The largest end-users in the industrial segment are the oil and gas and mining and metals segments; however, owing to the fall in oil prices, these segments are expected to achieve slow growth during the forecast period. The slump in oil prices has resulted in oil and gas producers cutting costs which in turn affects the demand for motor control centers.

Key Players

Some of the key players operating in the Motor Control Centers Market are Rockwell Automation (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), Fuji Electric (Japan), WEG (Brazil), Mitsubishi Electric (Japan), Larsen & Toubro (India), Vidhyut Electric (India), TES (UK), Rittal (Germany), Technical Controls (UK), Tesco Control (US), LSIS (South Korea), WEG (Brazil) among others.

Get Valuable Insights into Motor Control Centers Market

In the new report, Fatpos Global thrives to present an unbiased analysis of the Motor Control Centers Market that covers the historical demand data as well as the forecast figures for the period, i.e. 2019-2030. The study includes compelling insights into the growth that is witnessed in the market. The market is segmented by Type as intelligent and conventional; the market is segmented by voltage into low and medium; the market is segmented by Components into overload relays, circuit breakers & fuses, soft starters, busbars, and variable speed drives; the market is segmented by End User into Oil & Gas, Chemical & Petrochemicals, Utilities, Food & Beverage, Mining and Others. Geographically, the market is segmented into North America, Latin America, Europe, APAC, and MENA.