Global Motor Control Centers Market (2020 to 2025) - Replacement of Old & Aging Infrastructure Presents Opportunities
DUBLIN, Oct. 19, 2020 /PRNewswire/ -- The "Motor Control Centers Market by Type (Intelligent, Conventional), Voltage (Low, Medium), End-User, Standard, Component, Region (Asia Pacific, North America, Europe, South America, and the Middle East & Africa) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global motor control centers market is estimated to be USD 5.1 billion in 2019 and is projected to reach USD 6.5 billion by 2025, at a CAGR of 4.9% 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.
The low voltage segment is expected to dominate the motor control centers market in 2020
The low voltage segment dominated the motor control centers market in 2019 owing to the extensive adoption of low voltage motors in various industries across the globe. Low voltage motor control centers are mainly installed in the chemical & petrochemical, pulp & paper, food & beverage, automobile, oil & gas, and cement industries. They are mostly used in industries to control the voltage, speed, torque, and frequency of motors, among other functions. Therefore, they are in high demand, considering the increasing industrialization and urbanization.
The intelligent motor control centers segment is expected to grow at the highest CAGR from 2020 to 2025
The intelligent segment is estimated to be the fastest-growing motor control centers market, by type, from 2020 to 2025. This growth is attributed to the increasing levels of industrial automation in regions such as the Asia Pacific and the Middle East & Africa. Although the initial costs of intelligent motor control centers are high, they provide advantages such as reduced installation time. The other benefits of intelligent motor control centers include increased reliability, lesser wiring, reduced maintenance time, greater speed and precision in defect identification, remote monitoring and control, and greater compactness compared to conventional motor control centers. All these factors are expected to drive the intelligent motor control centers market during the forecast period.
The Asia Pacific is expected to lead in the global motor control centers market in terms of market size and growth rate
The 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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Pre- and Post-COVID-19 Scenario Analysis
4 Premium Insights
4.1 Attractive Opportunities in the Motor Control Centers Market
4.2 Motor Control Centers Market, by Type
4.3 Motor Control Centers Market, by Voltage50
4.4 Motor Control Centers Market, by End-User
4.5 Motor Control Centers Market, by Standard
4.6 Motor Control Centers Market, by Component
4.7 Motor Control Centers Market, by Region
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Road to Recovery
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Growing Demand for Automation in Developed Nations
5.5.1.2 Increased Demand for Motor Control Centers in Large Manufacturing Plants and Other Industries
5.5.1.3 Supportive Government Regulations Promoting Energy Savings Across Industries
5.5.1.4 Industries Aiming at High Reliability and Reducing Plant Downtime
5.5.2 Restraints
5.5.2.1 Decreasing Crude Oil Prices Leading to Reduced Investments in the Oil & Gas Industry
5.5.3 Opportunities
5.5.3.1 Replacement of Old & Aging Infrastructure
5.5.3.2 Rising Demand for Smart and Integrated Motor Control and Protection Devices
5.5.4 Challenges
5.5.4.1 Heavy Initial Investments and Higher Cost Compared to Its Counterparts
5.5.4.2 Motor Control Centers' Maintenance Complexities
5.5.4.3 Impact of COVID-19 on Motor Control Centers Market
5.6 Adjacent and Interconnected Markets
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 2019
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 Oil & Gas
8.2.1.1 Oil & Gas Industry in North America is Growing due to Increased Investments in the Exploration & Production Operations Corresponding to Shale Oil & Gas
8.2.2 Chemicals & Petrochemicals
8.2.2.1 Chemical Industries in Asia-Pacific Region are Increasing Owing to Availability of Cheap Labor
8.2.3 Metals & Mining
8.2.3.1 Growth in the Metals & Mining Industry Would Positively Impact the Motor Control Centers Market
8.2.4 Cement & Manufacturing
8.2.4.1 Growth of Cement Industry is Driven by the Increased Infrastructural Projects Worldwide
8.2.5 Utilities
8.2.5.1 Revamping Aging Infrastructure and Increasing Need for Energy Efficiency Would Drive the Utilities Segment of the Motor Control Centers Market
8.2.6 Food & Beverages
8.2.6.1 Food & Beverages Industry is Majorly Expected to Grow in Developed Regions
8.2.7 Water & Wastewater
8.2.7.1 Increasing Need for Treating Wastewater for Protecting Water Bodies is Driving Wastewater Treatment Plants Around the Globe
8.2.8 Public Construction
8.2.8.1 Increasing Number of Public Constructions Majorly in Developing Regions are Expected to Drive Motor Control Centers Market
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 Centers99
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 Prtection 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
11.1 Introduction
11.2 Asia-Pacific
11.3 North America
11.4 Europe
11.5 South America
11.6 Middle East & Africa
12 Competitive Landscape
12.1 Overview
12.2 Competitive Leadership Mapping, 2019
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging
12.3 Market Share, 2019
12.4 Competitive Scenario
12.4.1 Contracts & Agreements
12.4.2 Product Launches
12.4.3 Mergers & Acquisitions
12.4.4 Investments & Expansions
12.4.5 Others
13 Company Profiles
13.1 ABB
13.1.1 Business Overview
13.1.2 Products Offered
13.1.3 Recent Developments
13.1.4 Analyst's View
13.2 Rittal
13.2.1 Business Overview
13.2.2 Products Offered
13.2.3 Recent Developments
13.2.4 Analyst's View
13.3 TES
13.3.1 Business Overview
13.3.2 Products Offered
13.3.3 Recent Developments
13.3.4 Analyst's View
13.4 Technical Control Systems
13.4.1 Business Overview
13.4.2 Products Offered
13.4.3 Recent Developments
13.5 LSIS
13.5.1 Business Overview
13.5.2 Products Offered
13.5.3 Analyst's View
13.6 WEG
13.6.1 Business Overview
13.6.2 Products Offered
13.6.3 Recent Developments
13.6.4 Analyst's View
13.7 Tesco Controls
13.7.1 Business Overview
13.7.2 Products Offered
13.8 Rockwell Automation
13.8.1 Business Overview
13.8.2 Products Offered
13.8.3 Recent Developments
13.8.4 Analyst's View
13.9 Eaton
13.9.1 Business Overview
13.9.2 Products Offered
13.9.3 Recent Developments
13.9.4 Analyst's View
13.10 Mitsubishi Electric
13.10.1 Business Overview
13.10.2 Products Offered
13.10.3 Recent Developments
13.10.4 Analyst's View
13.11 Siemens
13.11.1 Business Overview
13.11.2 Products Offered
13.11.3 Recent Developments
13.11.4 Analyst's View
13.12 Schneider Electric
13.12.1 Business Overview
13.12.2 Products Offered
13.12.3 Recent Developments
13.12.4 Analyst's View
13.13 Larsen & Toubro
13.13.1 Business Overview
13.13.2 Products Offered
13.13.3 Recent Developments
13.13.4 Analyst's View
13.14 Fuji Electric
13.14.1 Business Overview
13.14.2 Products Offered
13.14.3 Recent Developments
13.14.4 Analyst's View
13.15 Vidhyut Control
13.15.1 Business Overview
13.15.2 Products Offered
14 Adjacent & Related Markets
15 Appendix
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