Motor Control Centers Market Strategic Assessment, Trend Outlook 2023

Posted by Anvi on February 18th, 2020

Motor Control Centers Market Scenario

As per a detailed analysis by Market Research Future (MRFR), the global motor control centers market is predicted to garner 5.95% CAGR during the forecast period (2018-2023). The surging demand for reliable electric supply is encouraging the growth of the market. A motor control center (MMC) can be defined as a centralized system in which all the combination starters are assembled and are connected through a common source power bus. They are mainly used to control the distribution of power to the electrical motors. The MMC panels comprise program controllers, variable frequency drives, and meeting devices.  It is made of a steel structure and contains the combination wire-ways, motor control units bus bars, and internal wiring.

Market Potential and Pitfalls

The Motor Control Centers Market has witnessed a tectonic surge in the past few years due to the surging demand for reliable electric supply along with subsequent investment in distribution and transmission network, developing safe electrical infrastructure, and grid expansion. Motor control centers are highly accepted across the globe in several commercial and industrial sector due to its properties like controlling the motors in phase from a central position. It also offers flexibility while adhering to the complex distribution of electrical system. It comes with a compact design with low manufacturing cost which makes it permeable to be installed in industrial and utilities sector. Such factors are considered to encourage the motor control centers market growth in the foreseeable future. The growth in grid infrastructure across the world coupled with the constant need for electricity are some of the major factors triggering the demand for motor control centers across the globe. The improvement in safety for MCCs is another major factor likely to stimulate the market growth in the coming years. The requirement for cost-effective solution to reduce equipment damage and downtime is considered to fuel the market growth. The booming industrial automation coupled with the constant upgradation in the power infrastructure are likely to boost the market in the long run.

On the contrary, the fluctuations in the material cost along with the development of new product over conventional motor control centers are some of the major concerns likely to restrict the growth of the market during the review period.

Global Motor Control Centers Market: Segmental Analysis

The global motor control centers market has been segmented on the basis of type, voltage, component, and end-user.

By mode of type, the global motor control centers market has been segmented into intelligent motor control centers and conventional motor control centers.

The voltage segment comprises medium voltage and low voltage. Among these, the low voltage segment is anticipated to command the largest market share owing to the high adoption of low voltage motors across industries.

Based on component, the motor control centers market comprises circuit breakers & fuses, busbars, variable speed drives, overload relays, soft starters, and others. Among these, the busbars segment is predicted to gain prominence as it is considered one of the most important components of a motor control center and acts as a common voltage point for all electrical equipment that are connected to the MCC. The growing efficiency, flexibility, and reliability of busbars along with the requirement for additional wires have resulted in the surging demand for busbars.

The end-users segment constitutes of commercial, industrial, and utilities. Among these, the industrial usage commands a larger share of the total volume of the market. The segment is likely to dominate the market. The evolving industrial development across the world is resulting in the wide application of small and medium voltage motor control centers for safe operations which is likely to enhance the segment’s growth.

Competitive Dashboard

The prominent players operating in the global motor control centers market comprises Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (France), ABB, Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Rockwell Automation (U.S.), Larsen & Toubro Limited (India), Hyosung Corporation (South Korea), WEG S.A. (Brazil), and Technical Control Systems Ltd. (U.K).

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