Motor
Control Centers Market Systems - 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 Motor
Control Centers Market Systems. 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.
Motor
Control Centers Market Systems Potential and Pitfalls
The motor control centers market has witnessed a
tectonic surge in the past few years due to the surging demand for reliable
electric supply along with subsequent investment in distribution and transmission
network, developing safe electrical infrastructure, and grid expansion. Motor
control centers are highly accepted across the globe in several commercial and
industrial sector due to its properties like controlling the motors in phase
from a central position. It also offers flexibility while adhering to the
complex distribution of electrical system. It comes with a compact design with
low manufacturing cost which makes it permeable to be installed in industrial
and utilities sector. Such factors are considered to encourage the motor control
centers market growth in the foreseeable future. The growth in grid
infrastructure across the world coupled with the constant need for electricity are
some of the major factors triggering the demand for motor control centers
across the globe. The improvement in safety for MCCs is another major factor
likely to stimulate the market growth in the coming years. The requirement for
cost-effective solution to reduce equipment damage and downtime is considered
to fuel the market growth. The booming industrial automation coupled with the
constant upgradation in the power infrastructure are likely to boost the market
in the long run.
On
the contrary, the fluctuations in the material cost along with the development of
new product over conventional motor control centers are some of the major
concerns likely to restrict the growth of the market during the review period.
Motor Control Centers
Market Systems: Segmental Analysis
The global motor control centers market has been
segmented on the basis of type, voltage, component, and end-user.
By mode of type, the global motor control centers
market has been segmented into intelligent motor control centers and conventional
motor control centers.
The voltage segment comprises medium voltage and low
voltage. Among these, the low voltage segment is anticipated to command the
largest market share owing to the high adoption of low voltage motors across
industries.
Based on component, the motor control centers market
comprises circuit breakers & fuses, busbars, variable speed drives,
overload relays, soft starters, and others. Among these, the busbars segment is
predicted to gain prominence as it is considered one of the most important
components of a motor control center and acts as a common voltage point for all
electrical equipment that are connected to the MCC. The growing efficiency,
flexibility, and reliability of busbars along with the requirement for
additional wires have resulted in the surging demand for busbars.
The end-users segment constitutes of commercial, industrial,
and utilities. Among these, the industrial usage commands a larger share of the
total volume of the market. The segment is likely to dominate the market. The
evolving industrial development across the world is resulting in the wide application
of small and medium voltage motor control centers for safe operations which is
likely to enhance the segment’s growth.
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.
Competitive
Dashboard
The prominent players operating in the global motor
control centers market comprises Siemens AG (Germany), General Electric (U.S.),
Schneider Electric SE (France), ABB, Ltd. (Switzerland), Mitsubishi Electric
Corporation (Japan), Rockwell Automation (U.S.), Larsen & Toubro Limited
(India), Hyosung Corporation (South Korea), WEG S.A. (Brazil), and Technical
Control Systems Ltd. (U.K).
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