Motor Control Centers market is projected to grow at a CAGR of 3% during the forecasting period 2021-2027
The increase can be attributed to increased demand for industrial automation in developed regions, increased use of electric motors in key industries, a booming power market, and increased global power generation capacity. The traditional motor control centers section is expected to contribute the most. The high level of protection, easy expansion and modification, fast and smooth maintenance, and enhanced reliability and operability provided by conventional motor control centres are the key factors driving demand for conventional motor control centers during the forecast period. During the forecast era, the low voltage segment is expected to rise at the fastest rate. Low voltage motor control centres are highly favoured due to their widespread adoption in a variety of industries around the world, which is expected to drive demand for them during the forecast era. The circuit breakers and fuses market is expected to expand at the fastest pace. The market is expected to benefit from the increasing power delivery and transmission industry, as well as growth in related and complementary markets such as switchgears and transformers. For motor control centres, the IEC is a commonly used standard. The demand for motor control centres is expected to expand as the IEC standard becomes more widely accepted around the world. During the forecast period, the industrial segment is expected to lead the motor control centres industry. Motor control centre market growth is expected to be boosted by the global trend of motorised automation across industrial segments. During the forecast period, Asia Pacific is projected to be the largest market for motor control centres. Because of the region's increasing urbanisation and industrialization, there is expected to be a high demand for motor control centres. In addition, the region's market is expected to benefit from increased power generation capacity additions and increased electricity demand..
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The Motor Control Centers Market report has been categorized as below
By Type
Intelligent
Conventional
By Voltage
Low Voltage
Medium Voltage
By End-User
Industrial
Oil and gas
Chemical and petrochemical
Metals and mining
Cement and manufacturing
Utilities
Food and beverage
Water and wastewater
Public construction
Commercial
By Standard
IEC
Nema
Others
By Component
Busbars
Circuit Breakers & Fuses
Overload Relays
Variable Speed Drives
By Region
North America
Europe
Asia Pacific
Rest of World
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