All updated as on -
By 2030, the market for motor control centres is anticipated to grow at a 6.10% CAGR.
A grouping of motor starters or overload protectors known as a motor control centre is connected by a single power source. A motor control center's main function is to act as a centralised system and manage motors linked to the power bus. The electrical motors that are connected to it receive power from it. The Motor Control Centres are described by the National Electrical Manufacturers Association as a floor-mounted assembly with a few vertical pieces and horizontal and vertical power buses. In industrial sectors, the Motor Control Centres serve as power distribution hubs.
The market for motor control centres continues to grow in demand as the requirement for dependable electric supply in industrial sectors rises as well. As a result of continued increases in expenditure for activities including transmission and distribution network, grid development, and creating safer electrical infrastructure, the market value for motor control centres is anticipated to reach 5.10% CAGR by 2030. The growing need for dependable electric supply and the ensuing investments in transmission and distribution networks, grid development, and the creation of secure electrical infrastructure are what propel the global industry.
The introduction of Intelligent Motor Control Centres has significantly improved overall performance due to the increased resilience of the components. Additionally, the IMCC's lifespan is extended by 20 years. Hardware, software, and communication technologies can all be combined by the Intelligent Motor Control Centres. To reduce the amount of time that motors are out of service, IMCC collects and analyses massive amounts of data from the PLC or motor starters. These elements have raised demand across a number of industrial industries. High levels of automation are introduced in production facilities as technology advances over time. Every manufacturing facility strives to maintain competitive product price, achieve maximum output, and adhere to efficiency and safety regulations. As a result, businesses began automating their processes using devices for intelligent motor control, such as motor control centres. Automation is becoming ever more important in industrialised nations like North America and Europe to reduce labour costs and boost manufacturing facility productivity. Vendors have been helped in designing innovative control modules, integrating smart devices with medium-voltage components, thanks to the rising deployment of Internet of Things enabled Motor Control Centres. These developments have fueled the expansion of the market for motor control centres.
The industry's expansion may be hampered by high start-up costs for Motor Control Centres. Advanced technologies are incorporated as the equipment identifies losses, optimises the energy usage, industrial activity, and other crucial activities. The Motor Control Centres industry's expansion in small industrial sectors is hampered by the significant capital expenditure. One of the largest end users of motor control centres, which is currently experiencing a dip in pricing, is the oil and gas sector. Demand for industrial equipment has decreased as a result of the industry's sharp decline in capital expenditures. Therefore, the oil and gas business is presently concentrating on enhancing operational performance with the current devices.
Report Coverage
Global Motor Control Centers research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Motor Control Centers report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Motor Control Centers competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Motor Control Centers market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Motor Control Centers market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Motor Control Centers market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
General Electric (U.S.), Siemens AG (Germany), ABB, Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Larsen & Toubro Limited (India), Technical Control Systems Ltd. (U.K), and WEG S.A. (Brazil).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Motor Control Centers market based on the below-mentioned segments:
Global Motor Control Centers Market, By Type
Conventional
Intelligent
Global Motor Control Centers market, By Component
Busbars
Overload Relays
Variable Speed Drives
Soft Starters
Others
Global Motor Control Centers Market, By End User
Oil & Gas
Chemical & Petrochemicals
Energy & Utilities
Mining & Metals
Others
Global Motor Control Centers market, Regional Analysis
A grouping of motor starters or overload protectors known as a motor control centre is connected by a single power source. A motor control center's main function is to act as a centralised system and manage motors linked to the power bus. The electrical motors that are connected to it receive power from it. The Motor Control Centres are described by the National Electrical Manufacturers Association as a floor-mounted assembly with a few vertical pieces and horizontal and vertical power buses. In industrial sectors, the Motor Control Centres serve as power distribution hubs.
The market for motor control centres continues to grow in demand as the requirement for dependable electric supply in industrial sectors rises as well. As a result of continued increases in expenditure for activities including transmission and distribution network, grid development, and creating safer electrical infrastructure, the market value for motor control centres is anticipated to reach 5.10% CAGR by 2030. The growing need for dependable electric supply and the ensuing investments in transmission and distribution networks, grid development, and the creation of secure electrical infrastructure are what propel the global industry.
The introduction of Intelligent Motor Control Centres has significantly improved overall performance due to the increased resilience of the components. Additionally, the IMCC's lifespan is extended by 20 years. Hardware, software, and communication technologies can all be combined by the Intelligent Motor Control Centres. To reduce the amount of time that motors are out of service, IMCC collects and analyses massive amounts of data from the PLC or motor starters. These elements have raised demand across a number of industrial industries. High levels of automation are introduced in production facilities as technology advances over time. Every manufacturing facility strives to maintain competitive product price, achieve maximum output, and adhere to efficiency and safety regulations. As a result, businesses began automating their processes using devices for intelligent motor control, such as motor control centres. Automation is becoming ever more important in industrialised nations like North America and Europe to reduce labour costs and boost manufacturing facility productivity. Vendors have been helped in designing innovative control modules, integrating smart devices with medium-voltage components, thanks to the rising deployment of Internet of Things enabled Motor Control Centres. These developments have fueled the expansion of the market for motor control centres.
The industry's expansion may be hampered by high start-up costs for Motor Control Centres. Advanced technologies are incorporated as the equipment identifies losses, optimises the energy usage, industrial activity, and other crucial activities. The Motor Control Centres industry's expansion in small industrial sectors is hampered by the significant capital expenditure. One of the largest end users of motor control centres, which is currently experiencing a dip in pricing, is the oil and gas sector. Demand for industrial equipment has decreased as a result of the industry's sharp decline in capital expenditures. Therefore, the oil and gas business is presently concentrating on enhancing operational performance with the current devices.
Report Coverage
Global Motor Control Centers research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Motor Control Centers report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Motor Control Centers competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Motor Control Centers market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | General Electric (U.S.), Siemens AG (Germany), ABB, Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Larsen & Toubro Limited (India), Technical Control Systems Ltd. (U.K), and WEG S.A. (Brazil). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Motor Control Centers Market from 2021 to 2030.
- Market Forecast for Motor Control Centers Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Motor Control Centers competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Motor Control Centers
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Motor Control Centers market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Motor Control Centers market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
General Electric (U.S.), Siemens AG (Germany), ABB, Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Larsen & Toubro Limited (India), Technical Control Systems Ltd. (U.K), and WEG S.A. (Brazil).
Primary Target Market
- Market Players of Motor Control Centers
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Motor Control Centers market based on the below-mentioned segments:
Global Motor Control Centers Market, By Type
Conventional
Intelligent
Global Motor Control Centers market, By Component
Busbars
Overload Relays
Variable Speed Drives
Soft Starters
Others
Global Motor Control Centers Market, By End User
Oil & Gas
Chemical & Petrochemicals
Energy & Utilities
Mining & Metals
Others
Global Motor Control Centers market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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