According to IMARC Group’s latest report, titled “Motor Control Centers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 5.5 Billion in 2020. 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. 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.
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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. Looking forward, IMARC Group expects the motor control centers market to grow at a CAGR of around 5% during 2021-2026.
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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:
- ABB
- Atmel Corporation
- Eaton Corporation
- Fuji Electric Co.
- General Electric
- Larsen & Toubro
- Mitsubishi Electric
- Rockwell Automation
- Schneider Electric
- Siemens AG
- TESCO Controls Inc.
- WEG Industries
Market Segmentation:
Breakup by Type:
- Conventional
- Intelligent
Breakup by Voltage:
- Low Voltage
- Medium Voltage
Breakup by Component:
- Overload Relays
- Circuit Breakers & Fuses
- Soft Starters
- Busbars
- Variable Speed Drives
- Others
Breakup by End-Use Sector:
- Industrial Sector
- Commercial Sector
Breakup by Region
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- United Arab Emirates
- Others
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- 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.
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