Global Motor Control Centers Market – Overview
Motor control center is a group of one or more sections enclosed and has a common power bus. This center play an important role in increasing productivity and reducing the operating costs. It broadly accepted in manufacturing units, they provide supreme protection coupled with intelligent monitoring as well as diagnostic capabilities from motor management relay.
According to a recent study report published by the Market Research Future, the global market of direct drive wind turbine is booming and expected to gain prominence over the forecast period. The Global Motor control centers market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping CAGR of 5.95% during the estimated period (2017 – 2023).
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Increasing need for cost effective solution, to decrease the downtime as well as equipment damage is the main driver of the market. Also, high growth in industrial automation and continuous upgradation in the power infrastructure are expected to contribute to the growth of the market. Moreover, technological advancements as well as discoveries in communication network would keep the future of the market robust. The oil & gas industry is one of the principal end users for motor control centers. Hence, the recent slump in crude oil prices is expected to act as a restraint for the motor control centers market.
Global Motor Control Centers Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Motor Control Centers appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Motor Control Centers market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
In September 2016, Power management company Eaton has launched the new Power Xpert CXH high–performance International Electrotechnical Commission (IEC) standard low voltage motor control and distribution center for loads up to 6300 amperes (A) at 380 to 690 volts.
In May 2016, Power management company Eaton has announced a new, arc-resistant version of its industry leading FlashGard motor control center technology that is designed to both prevent an arc flash event and protect personnel if an arc flash occurs. Eaton is the first manufacturer to combine arc-preventative and arc-resistant technology within a single motor control center.
In July 2015, Power management company Eaton has launched the new Power Xpert CXH high–performance International Electrotechnical Commission (IEC) standard low voltage motor control and distribution center for loads up to 6300 amperes (A) at 380 to 690 volts.
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Global Motor Control Centers Market – Segmentation
Global Motor control centers Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
Based on type, the market has been segmented into Conventional Motor Control Center, and Intelligent Motor Control Centers.
On the basis of Voltage, the market has been segmented into Medium, and Low. Low voltage segment dominates the voltage segment of global Motor control centers market. Low voltage motor control centers are largely used in the chemicals and petrochemicals, cement, food and beverage, automobile, paper and pulp, oil and gas, cement, and textile industries.
On the basis of Component, the market has been segmented into Busbars, Circuit Breakers & Fuses, Overload Relays, Variable Speed Drives, Soft Starters, and others. Busbar dominates the component segment of global Motor control centers market. The increase in the flexibility, efficiency, and reliability of busbars and the elimination of the need for added wires have led to the rising demand for busbars in the motor control centers market.
Based on End Users, the market has been segmented into Industrial, Commercial and Utilities. The utilities segment is expected to grow at the highest CAGR during the forecast period, mainly due to the increasing demand for electricity throughout the world.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Global Motor Control Centers Market – Regional Analysis
Asia Pacific region dominates the Motor control centers market and is expected to grow at the fastest pace during the forecast period. Increasing industrialization and high electricity demand in the region are major factor driving the growth of the market. The countries such as China, India, and Japan are the major market for motor control centers in Asia Pacific region. Increasing power generation capacity additions and industrialization projects in these countries are the main reasons prompting the growth of the motor control centers market.
The infrastructural development activities and high investments in the water and wastewater industry in the Middle East & Africa are anticipated to drive the motor control centers market in the Middle East & Africa.
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