The report "Low Voltage Motor Control Centers Market by Type (Intelligent and Conventional), End-User (Industrial and Commercial), Component (Busbars, Circuit Breakers and Fuses, Overload Relays, VSDS, and Soft Starters), and Region - Global Forecast to 2022", The low voltage motor control centers market is expected to grow from an estimated value of USD 3.07 Billion in 2017 to USD 4.03 Billion by 2022, at a CAGR of 5.62% from 2017 to 2022. The global market is set to witness a significant growth due to the rising industrial automation and increased use of low voltage electric motors across key industries.
Browse 95 Market Data Tables and 65 Figures spread through 172 Pages and in-depth TOC on "Low Voltage Motor Control Centers Market”
The conventional motor control centers segment is expected to hold the largest share of the low voltage motor control centers market, by type, during the forecast period
The conventional motor control centers segment is expected to hold the major share in the low voltage motor control centers market during the forecast period. The major advantages of conventional motor control centers include a high level of safety, easy expansion and modification, quick and smooth maintenance, and enhanced reliability and operability. Moreover, in a conventional MCC, each unit is compartmentalized, which allows for more mounting space for components and restrains potential faults in the individual unit. These advantages have resulted in a higher market share for conventional motor control centers in the low voltage motor control centers market.
The industrial segment is expected to be the fastest growing end-user segment in the low voltage motor control centers market during the forecast period
The industrial segment is expected to be the fastest growing low voltage motor control centers market from 2017 to 2022 due to the inclination toward motorized automation worldwide. The industrial end-users have been segmented into oil & gas, mining and metals, utilities, chemicals and petrochemicals, cement and manufacturing, food and beverage, and others (water & wastewater, paper & pulp, and pharmaceutical). The increasing demand for low voltage electric motors in the above mentioned industries is also expected to drive the low voltage motor control centers market in industrial segment.
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