Sep 18, 2019   SOURCE: PR NewsWire

Motor Control Centers (Intelligent and Conventional) Market - Global Forecast to 2024

DUBLIN, Sept. 18, 2019 /PRNewswire/ -- The "Motor Control Centers Market by Type (Intelligent and Conventional), Voltage (Low and Medium), End-User (Industrial and Commercial), Standard (IEC and NEMA), Component, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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The global motor control center market is projected to reach USD 6.8 billion by 2024 from an estimated market size of USD 5.3 billion in 2019, at a CAGR of 5.0% during the forecast period.

The growing demand for industrial automation in developed regions, increased use of electric motors in key industries, and increased industrial plant uptime have boosted the demand for motor control centers. Moreover, the booming power sector and augmented power generation capacities globally would further aid the growth of this market. The stagnancy in the oil & gas industry and the decrease in mining activities in Asia Pacific, Latin America, and Africa would act as restraints for the growth of the motor control centers market.

Asia Pacific is currently the largest motor control centers market, followed by North America and Europe. The Asia Pacific market is driven by rapid industrialization, increasing electricity demand, and power generation capacity additions in the region. It is projected to grow at the fastest rate, with China dominating the regional market.

With rising industrial automation and increasing power demand and power infrastructure, the need for high-efficiency motors has increased considerably. The increasing demand for motors is consequently leading to the growing demand for motor control centers. Apart from the Chinese and Indian markets, the motor control centers markets in countries such as Japan, Malaysia, Australia, and South Korea are also growing at healthy rates.

The demand for motor control centers is primarily received from the oil & gas and metals & mining end-user industries. Motor control centers offer advantages such as ease of installation, lower costs, compact design, and efficient and centralized working and monitoring. They also offer safe installation and maintenance of protection devices such as circuit breakers, fuses, and protection relays.

The factors driving the market include motor control centers' implementation for enhanced energy efficiency, increasing automation in the developed regions, and investments coming in for wastewater treatment. The major players in the motor control centers market are ABB Ltd., Schneider Electric SE, Siemens, Rockwell Automation, and Eaton.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Motor Control Centers Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Automation in Developed Nations
5.2.1.2 Increased Demand for Motor Control Centers in Large Manufacturing Plants and Other Industries
5.2.1.3 Supportive Government Regulations Promoting Energy Savings Across Industries
5.2.1.4 Industries Aiming at High Reliability and Reducing Plant Downtime
5.2.2 Restraints
5.2.2.1 Decreasing Crude Oil Prices Leading to Reduced Investments in the Oil & Gas Industry
5.2.3 Opportunities
5.2.3.1 Replacement of Old & Aging Infrastructure
5.2.3.2 Rising Demand for Smart and Integrated Motor Control and Protection Devices
5.2.4 Challenges
5.2.4.1 Heavy Initial Investments and Higher Cost Compared to Its Counterparts
5.2.4.2 Motor Control Centers' Maintenance Complexities

6 Motor Control Centers Market, By Type
6.1 Introduction
6.1.1 By Low Voltage
6.1.2 By Medium Voltage
6.2 Intelligent
6.2.1 Increase in Automation in Developed Regions is Expected to Increase the Demand for Intelligent Motor Control Centers
6.3 Conventional
6.3.1 Conventional Motor Control Centers Held A Higher Market Share in 2018

7 Motor Control Centers Market, By Voltage
7.1 Introduction
7.2 Low Voltage
7.2.1 Increasing Low Voltage Motors for Industrial Usage are Enhancing the Need for Low Voltage Motor Control Centers
7.3 Medium Voltage
7.3.1 Inception of Large Water Treatment Plants and Utilities Globally is Likely to Increase Demand for Medium Voltage Motor Control Centers

8 Motor Control Centers Market, By End-User
8.1 Introduction
8.1.1 By Low Voltage
8.1.2 By Medium Voltage
8.2 Industrial
8.2.1 Increasing Need for Efficient Electrical Equipment is Likely to Drive the Motor Control Centers Market in Developing Regions
8.3 Commercial
8.3.1 Increasing Number of Commercial Buildings Globally are Expected to Drive the Motor Control Centers Market

9 Motor Control Centers Market, By Standard
9.1 Introduction
9.2 IEC
9.2.1 Demand for Increased Overall Efficiency is Expected to Drive the IEC Standard Motor Control Centers Market
9.3 Nema
9.3.1 Increasing Industrialization in Developing Nations is Expected to Benefit Nema Standards' Share in Motor Control Centers
9.4 Others
9.4.1 Rising Regional Regulations in Developed Regions Would Help Other Standards to Grow During the Forecast Period

10 Motor Control Centers Market, By Component
10.1 Introduction
10.1.1 By Low Voltage
10.1.2 By Medium Voltage
10.2 Busbars
10.2.1 Need for Simpler Design Layout of Motor Control Centers is Expected to Drive the Segment During the Forecast Period
10.3 Circuit Breakers & Fuses
10.3.1 Circuit Breaker De-Energizes Equipment for Safety and Protection of Motor Control Centers and Connected Apparatus
10.4 Overload Relays
10.4.1 Relays are Sensing Devices That Operate the Circuit Breaker for Safety and Protection of the Connected Motors
10.5 Variable Speed Drives
10.5.1 Need for Variable Speed Output is Expected to Increase the Requirement for Variable Speed Drives in Motor Control Centers
10.6 Soft Starters
10.6.1 Soft Starters Limit Current for Safely Starting A Motor
10.7 Others
10.7.1 Supporting Components are an Integral Part of Motor Control Centers

11 Motor Control Centers Market, By Region

Company Profiles

    --  ABB
    --  Eaton
    --  Fuji Electric
    --  Larsen & Toubro
    --  Lsis
    --  Mitsubishi Electric
    --  Rittal
    --  Rockwell Automation
    --  Schneider Electric
    --  Siemens
    --  Technical Control Systems
    --  TES
    --  Tesco Controls
    --  Vidhyut Control
    --  WEG

For more information about this report visit https://www.researchandmarkets.com/r/br28w4

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