A recent report published by Infinium Global Research on motors control centers market provides in-depth analysis of segments and sub-segments in the global as well as regional motors control centers market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional motors control centers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global motors control centers market. According to the report, the global motors control centers market is projected to grow at a CAGR of 5.7% over the forecast period of 2019-2025.
Motors control centers (MCC) are widely accepted in manufacturing units today. It efficiently integrates production and business networks with field equipment. They provide supreme protection along with intelligent monitoring as well as diagnostic capabilities from motor management relay. The main purpose of MCC is to control the distribution of power to electrical motors. The improvement in safety for MCCs is one of the critical motor control centers market trends. Protecting the operators and maintenance personnel from hazards like arc flash, thermal burns, and explosive blasts are the key concern while developing MCCs. Intelligent Motor Control Centers (IMCCs) are expected to replace traditional MCCs during the forecasted period. Real-time monitoring from any place in the facility, predictive maintenance, process supervising, and advanced diagnostics have made it important for industrial functions.
Growing demand for industrial automation in developed countries is a major driving factor of the motor control centers market. The demand for MCC is increasing as it helps in increasing productivity and minimizing the operating costs. Further, factors such as cost-effective motor starter solution, reducing downtime, growing efficiency, and minimal equipment damage are also driving the market growth. Additionally, growth in industrial automation and the development of the power infrastructure is estimated to contribute to the growth of the market. However, the decline in greenfield investments by the oil and gas industry is restraining market growth. Increasing urbanization and industrialization in emerging economies such as India, China, and Brazil are expected to provide growth opportunities for the market.
Geographically, Asia-Pacific dominates the global motor control centers market due to rapid industrialization, urbanization, and fast economic growth in countries such as India and China. Demand for motor control centers is anticipated to increase significantly, as compared to other regions owing to major manufacturing, industrial plants set up due to low cost in this region. North America is the second-largest market for motor control centers due to growing industrial automation.
The report on global motors control centers market covers segments such as type, voltage, component, and end user. On the basis of type, the sub-markets include conventional MCC, and intelligent MCC. On the basis of voltage, the sub-markets include low voltage MCC, and medium voltage MCC. On the basis of component, the sub-markets include bus bars, overload relays, variable speed drives, soft starters, and other components. On the basis of end user, the sub-markets include oil & gas, chemical & petrochemicals, utilities, food & beverage, mining, and other end users.
The report provides profiles of the companies in the market such as ABB, Siemens AG, Rockwell Automation, Inc., Vidyut Controls India Pvt. Ltd., General Electric, Schneider Electric SE, Sun-Tech Engineers, Mitsubishi Motors Corporation, Gemco Controls Ltd., WEG Industries, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of motors control centers market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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