The global motor control centers market reached a value of US$ 5.5 Billion in 2020. Motor control centers (MCCs) are enclosed assemblies of centralized systems that control the functioning and regulate the distribution of power to industrial motors. Consisting of several components such as frequency drives, programmable controllers, metering apparatus, busbars and wire-ways inside an integrated panel, they significantly aid in increasing productivity and reducing operating expenses. Furthermore, they can simplify wiring, rearrange units, minimize downtime, reduce repair time and facilitate monitoring of the equipment. Owing to these benefits, MCCs find extensive application across various industry sectors such as oil & gas, metals & mining, utility, chemicals and petrochemicals, etc.
The rising trend of industrial automation, along with increasing power generation capacities is the key factor driving the growth of the market. Initiatives to upgrade the existing power infrastructure to meet the global energy requirement has significantly enhanced the adoption of MCCs across the globe. Furthermore, energy providers are increasingly emphasizing on developing reliable electricity supply and maximize safety in the distribution and transmission networks. The introduction of intelligent MCCs is also contributing to the market growth as they offer real-time monitoring facility, enable predictive maintenance and assist in conducting advanced diagnostics of the electronic systems. Moreover, the adoption of the Internet of Things (IoT)-enabled MCCs have encouraged the vendors to develop advanced control modules and integrate smart devices with medium voltage variants. Other factors, including various technological advancements, implementation of loss detection feature and rapid urbanization, are also projected to drive the market further. Looking forward, the publisher expects the global motor control centers market to exhibit moderate growth during the next five years.
The competitive landscape of the industry has also been examined with some of the key players being 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, etc.
Key Questions Answered in This Report:
1. What was the global motor control centers market size in 2020? 2. What will be the motor control centers market outlook during the forecast period (2021-2026)? 3. What are the major global motor control centers market drivers? 4. What are the major trends in the global motor control centers market? 5. What is the impact of COVID-19 on the global motor control centers market? 6. What is the global motor control centers market breakup by type? 7. What is the global motor control centers market breakup by voltage? 8. What is the global motor control centers market breakup by component? 9. What is the global motor control centers market breakup by end use sector? 10. What are the major regional markets in the global motor control centers industry? 11. Who are the leading motor control center industry players?
Key Topics Covered:
2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.3.1 Primary Sources 2.3.2 Secondary Sources 2.4 Market Estimation 2.4.1 Bottom-Up Approach 2.4.2 Top-Down Approach 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Motor Control Centers Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast