Request Sample Inquiry
Low Voltage Motor Control Center Market

Low Voltage Motor Control Center Market

Low Voltage Motor Control Center Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

Base Year:

2022

Date

Aug - 2023

Format:

PDF XLS PPT

Report Code:

VMR-VMR-2022-1107

Segments Covered
  • By Type By Type Conventional Motor Control Centers, Intelligent Motor Control Centers
  • By Component By Component Busbars, Circuit Breakers & Fuses, Overload Relays, Variable Speed Drivers, Soft Starters, Others
  • By End Users By End Users Industrial, Commercial
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 3.9 Billion
Revenue 2030Revenue 2030: USD 6.4 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 7.50%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Low Voltage Motor Control Center Market Share

The global Low Voltage Motor Control Center Market is valued at USD 3.9 Billion in 2022 and is projected to reach a value of USD 6.4 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.50% between 2023 and 2030.

Premium Insights

The Low Voltage Motor Control Center market is expanding due to the growing need for specialized MCC solutions to satisfy industry-specific needs. Industry need for predictive maintenance and data-driven insights is likely to increase with the adoption of cutting-edge technologies like AI and predictive analytics. Additionally, by adapting to changing industrial requirements while maintaining scalability and flexibility, the use of modular MCC designs is anticipated to significantly drive growth.

Low Voltage Motor Control Center Market Size, 2022 To 2030 (USD Billion)

AI (GPT) is here !!! Ask questions about Low Voltage Motor Control Center Market
Loading....

  • In oil and gas refineries, low voltage motor control centers are used to centrally manage the electric motors powering a variety of industrial activities, including pumping, production and processing, air compressors, drilling, etc. As a result, oil companies would increase their output to keep up with the soaring demand and support the development of low-voltage control centers in the industry.
  • North America generated more than 40.90% of revenue share in 2022
  • Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
  • Intelligent MCC segment accounted for the largest market growth. It contributed over 52.2% of the total revenue share in 2022 due to its incorporation of advanced technologies like IoT and data analytics, resulting in improved energy efficiency, reduced downtime, and enhanced operational control.
  • Busbar segment revealed the most significant market growth, contributing more than 22.3% of the total revenue share in 2022
  • Industrial segment accounts for largest revenue of 54.2% in 2022

Economic Insights

The Low Voltage Motor Control Center has shown substantial growth economically. The growing demand for effective motor control systems across sectors on a global scale, driven by factors including possible operating cost savings of 20–30% and increased productivity. It's anticipated that the use of smart technologies, such as IoT and data analytics, will boost the market by 10% to 15%. Further driving market expansion is the increased focus on energy efficiency and sustainability, which has the potential to reduce energy usage by as much as 15-20%. With an expected 25–30% growth in demand due to the industrial automation trend, production efficiency and cost reductions are expected to increase.

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

  • Real-Time Data Updates:
  • Competitor Benchmarking
  • Market Trends Heatmap
  • Custom Research Queries
  • Market Sentiment Analysis
  • Demographic and Geographic Insights

Get Access Now

Top Market Trends

  • Growing adoption of intelligent MCCs: Intelligent MCCs come with functions including fault detection, energy management, and remote monitoring and control. Intelligent MCCs are becoming more appealing to end users thanks to these capabilities, which are anticipated to fuel market expansion in the next years.
  • Rising demand for safety and security features: Motors, which are crucial parts of many industrial machinery, are controlled and protected by low voltage MCCs. The demand for low voltage MCCs with these functionalities is being driven by the increasing demand for safety and security features in industrial applications.
  • Increasing demand for automation in industrial applications: In many industrial applications, motors are controlled and protected by low voltage motor control centers (MCCs). The market for low voltage MCC is expanding because these applications have an increasing need for automation.
  • Need for compliance with regulations: The usage of low voltage MCCs is subject to a number of laws, including those that safeguard the environment and deal with electrical safety. The need for low voltage MCCs that adhere to the most recent standards is being driven by the requirement to follow these requirements.
  • Advances in technology: New technologies are continually being released, and the low voltage MCC market is always changing. Low voltage MCCs are becoming more dependable, secure, and efficient because to these new technologies.

Market Segmentation

Low Voltage Motor Control Center The global Low Voltage Motor Control Center market can be categorized into Type, Component, End Users, Region. The Low Voltage Motor Control Center market can be categorized into Conventional Motor Control Centers, Intelligent Motor Control Centers based on Type. The Low Voltage Motor Control Center market can be categorized into Busbars, Circuit Breakers & Fuses, Overload Relays, Variable Speed Drivers, Soft Starters, Others based on Component. The Low Voltage Motor Control Center market can be categorized into Industrial, Commercial based on End Users. The Low Voltage Motor Control Center market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Below tree is interactive. You can click the nodes to get more information.

Based on Type

Intelligent MCCs holds the largest share

The Low Voltage Motor Control Center market is expected to be dominated by the intelligent MCCs due to its number of benefits, such as remote monitoring, problem diagnosis, and energy management, all of which are in line with the expanding end-user demands for increased productivity, dependability, and security. The affordability of intelligent MCCs has increased in recent years as their price has decreased, making them more acceptable to a wider range of organizations looking for advanced motor control solutions.

Based on Components

Busbar will dominate the market during Forecast Period

The busbar category is dominated the Low Voltage Motor Control Center market because busbars are essential for guaranteeing secure and ideal MCC performance and are required across the range of these systems as the main conduits for delivering electrical power within MCCs.

Based on End-user

Industrial will account for largest market share

The industrial segment is expected to dominate a sizeable share of the Low Voltage Motor Control Center market due to the industry prioritizes dependability and safety. In industrial applications, low voltage MCCs are essential for controlling and protecting motors, resulting in optimal and secure operating outcomes. The sector's extensive influence is reflected in the need for MCCs, which is further fueled by the industry's global reach.

Based on Region

North America will lead the market

North America is expected to dominate the market for Low Voltage Motor Control Center due to rising need for MCCs inside the countries, which are at the center of the industrial world with key players like the United States and Canada. The number of well-established industrial players in the area further supports the market's maturity. The need for MCCs is growing due to the manufacturing sector's escalating propensity towards automation, which is driving the trend. Furthermore, North America's crucial role as a center for the oil and gas sector, a significant user of MCC, solidifies the region's position as a catalyst in directing the market's growth trajectory.

Competitive Landscape

The global Low Voltage Motor Control Center market is fragmented, including a leading industry players and cutting-edge technological advancements. The landscape is shaped by a focus on Industry 4.0 concepts, with an emphasis on connectivity, remote monitoring, and data analytics to ensure optimal motor control and operational efficiency. For instance, in October 2022: The completion of the anticipated acquisition of CUBIC, a business that specializes in modular solutions for creating electrical panels, was announced by Rockwell Automation, Inc. The fastest-growing industries, including infrastructure, data centers, and renewable energy, are served by CUBIC, a company founded in 1973. The motor control product line at Rockwell will probably benefit from this acquisition.

The players in the global Low Voltage Motor Control Center market include Tesco Controls Inc., Mitsubhishi Electric Corporation, Allis Electric Co Ltd, Weg SA, Eaton Corporation PLC, Rockwell Automation Inc, Siemens AG, Schneider Electric SE, ABB Ltd. among others.

Recent Market Developments

  • August 2022: ABB confirmed its agreement to purchase Siemens' low voltage NEMA motor sector. This acquisition adds a distinguished product line, a loyal North American clientele, and an accomplished operations, sales, and management team with Mexican manufacturing facilities.
  • August 2022: Gefran S.p.A. (Gefran), an Italian manufacturer of electrical components, sensors, and industrial automation machinery, announced that WEG would buy its Motion Control branch. WEG's position in areas including Italy, Germany, China, and India will probably improve as a result of this acquisition.

Segmentation of the Global Low Voltage Motor Control Center Market

Parameter Details
Segments Covered

By Type

  • Conventional Motor Control Centers
  • Intelligent Motor Control Centers

By Component

  • Busbars
  • Circuit Breakers & Fuses
  • Overload Relays
  • Variable Speed Drivers
  • Soft Starters
  • Others

By End Users

  • Industrial
  • Commercial

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Tesco Controls Inc.
  • Mitsubhishi Electric Corporation
  • Allis Electric Co Ltd
  • Weg SA
  • Eaton Corporation PLC
  • Rockwell Automation Inc
  • Siemens AG
  • Schneider Electric SE
  • ABB Ltd.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
Pricing and purchase options Avail of customized purchase options to meet your exact research needs. Explore purchase options

FAQ
Frequently Asked Question
  • The global Low Voltage Motor Control Center valued at USD 3.9 Billion in 2022 and is expected to reach USD 6.4 Billion in 2030 growing at a CAGR of 7.50%.

  • The prominent players in the market are Tesco Controls Inc., Mitsubhishi Electric Corporation, Allis Electric Co Ltd, Weg SA, Eaton Corporation PLC, Rockwell Automation Inc, Siemens AG, Schneider Electric SE, ABB Ltd..

  • The market is project to grow at a CAGR of 7.50% between 2023 and 2030.

  • The driving factors of the Low Voltage Motor Control Center include

    • Growing Demand for Industrial Automation in Developed Regions

  • North America was the leading regional segment of the Low Voltage Motor Control Center in 2022.