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
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.