Motor Control Centers Market Outlook
Motor control centers (MCCs) refer to enclosed assemblies of centralized systems to control the functioning of electric motors. It comprises of various components inside the integrated panel, such as programmable controllers, metering apparatus, busbars, frequency drives, wire-ways, etc.
The global motor control centers market size reached US$ 5.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.8 Billion by 2027, exhibiting a growth rate (CAGR) of 6.2% during 2022-2027.
Motor control centers include conventional MCC and intelligent MCC, which significantly aid in escalating the productivity and reducing operating expenses. They can also simplify wiring, minimize downtime, reduce repair time, rearrange units, etc. As a result, MCCs find extensive usage across numerous industries, such as mining, oil & gas, petrochemical, utility, etc.
Request for a PDF sample of this report: https://www.imarcgroup.com/motor-control-center-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Motor Control Centers Market Trends:
The rising need for robotics, industrial automation, and efficient material handling solutions is primarily driving the motor control centers market. Apart from this, the increasing adoption of MCCs for upgrading the existing power infrastructures to meet the global energy requirement is further catalyzing the market growth. Additionally, the rising product utilization to offer real-time monitoring facilities, conducting advanced diagnostics of the electronic systems, predictive maintenance, etc., is also augmenting the global market.
Besides this, the growing emphasis of energy providers on developing reliable electricity supply along with maximizing safety in the distribution and transmission networks, is also positively influencing the product demand. Furthermore, the introduction of the Internet of Things (IoT)-enabled MCCs is encouraging the vendors to integrate smart devices and advanced control modules with medium voltage variants. This, in turn, is anticipated to fuel the motor control centers market over the forecasted period.
Checkout Now: https://www.imarcgroup.com/checkout?id=1844&method=1
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
- Atmel Corporation
- Eaton Corporation
- Fuji Electric Co.
- General Electric
- Larsen & Toubro
- Mitsubishi Electric
- Rockwell Automation
- Schneider Electric
- Siemens AG
- TESCO Controls Inc.
- WEG Industries
Key Market Segmentation:
The report has categorized the market based on type, voltage, component, and end-use sector.
Breakup by Type:
Breakup by Voltage:
- Low Voltage
- Medium Voltage
Breakup by Component:
- Overload Relays
- Circuit Breakers & Fuses
- Soft Starters
- Variable Speed Drives
Breakup by End-Use Sector:
- Industrial Sector
- Commercial Sector
Breakup by Region
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1844&flag=C
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Related Reports by IMARC Group:
Compact Cars Market: https://www.imarcgroup.com/compact-cars-market
Gaskets and Seals Market: https://www.imarcgroup.com/gaskets-seals-market
Leisure Boat Market: https://www.imarcgroup.com/leisure-boat-market
North America Tire Market: https://www.imarcgroup.com/north-america-tire-market
Traction Transformers Market: https://www.imarcgroup.com/traction-transformers-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St Ste R
Sheridan, WY 82801, USA
Tel No:(D) +91 120 433 0800
Americas: – +1 631 791 1145 | Africa and Europe: – +44-702-409-7331 | Asia: +91-120-433-0800