NEW YORK, Aug. 3, 2016 /PRNewswire/ -- "The motor control centers market is projected to grow at a CAGR of 5.3% from 2016 to 2021"
The motor control centers market is projected to reach USD 5.83 billion by 2021, at a CAGR of 5.3% from 2016 to 2021. Motor control center is a cost-effective solution to prevent downtime and equipment damage. Increased industrial automation and up gradation of power infrastructure are expected to drive the motor control centers market. Motor control centers are employed in almost all major industries including oil & gas, chemicals & petrochemicals, food & beverage, utilities, and metals & mining. Given the growing demand for motor control solution equipment in these industries, the demand for motor control centers is set to increase in the coming years.
"Asia-Pacific: The largest market for motor control centers"
Asia-Pacific is currently the largest market for motor control centers, closely followed by North America. Growing industrial automation and growth of various industries, such as, chemicals, power, and oil & gas are driving the demand for motor control centers in the region. The Asia-Pacific market is primarily driven by countries such as China, Japan, India, and Australia where there is a steep demand for motors. The market in this region is projected to grow at a higher rate, with India and China expected to register the fastest growth within the region.
"Low voltage segment to dominate the global motor control centers market"
With regard to voltage, the low voltage segment is estimated to be largest market for motor control centers in 2016. Motor control centers are centralized hubs comprising motor control units sharing a common power bus. Each section of a motor control center features soft starters, feeders, transformers, adjustable frequency drives, overload relays, circuit breakers, and panel boards, among others. Meanwhile, medium voltage is the fastest growing segment for motor control centers. This growth is attributed to growing concern about energy savings and the need to reduce unplanned downtime in oil & gas and other major industries.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects.
Distribution of primary interviews is as follows:
By Company Type: Tier 1- 64%, Tier 2- 21%, Tier 3- 15%
By Designation: C-Level- 31%, D-Level- 39%, Others- 30%
By Region: North America- 35%, Europe-25%, Asia-Pacific- 31%, and Rest of the World - 9%
The tier of the companies has been defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
The leading players in the motor control centers market include ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Corporation (Ireland), Schneider Electric (France), Fuji Electric (Japan), Rockwell Corporation (U.S.), General Electric (U.S.), Mitsubishi Electric Corporation (Japan), and WEG SA (Brazil), among others.
Reasons to buy this report:
This research report has focused on various levels of analysis—industry analysis (industry trends), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the motor control centers market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights about the following points:
• Market Penetration: Comprehensive information on motor control center equipment offered by top players in the global motor control centers market
• Product Development/Innovation: Detailed insights into upcoming technologies, R&D activities, and new product launches in the motor control centers market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for motor control centers across regions
• Market Diversification: Exhaustive information about new products, untapped regional markets, recent developments, and investments in the global motor control centers market
• Competitive Assessment: In-depth assessment of market shares, strategies, and products of leading players in the global motor control centers market
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