Motor control

Motor control center market worth $8.16 billion at 5.2%

Pune, India, Aug. 11, 2021 (GLOBE NEWSWIRE) — The world engine control center market is likely to benefit from the growing initiatives taken by regulatory bodies and the government of several countries to promote energy saving standards in a wide range of industries, as well as in manufacturing plants. This information is provided by Fortune Business Insights™ in a recent report titled, “Motor Control Center Market Size, Industry Share, and Analysis by Type (Conventional Motor and Smart Motor) by Voltage (Low Voltage and Medium Voltage ), by component (Busbar, circuit breaker and fuses, relays, variable speed drives and others), by end user (oil and gas, iron and steel, minerals and mining, food and beverages, automobile and others) and regional forecasts, 2020-2027.” The report further mentions that the motor control center market size was $5.62 billion in 2019 and is expected to reach $8.16 billion by 2027, growing at a CAGR of 5.2% over the forecast period.

The emergence of COVID-19 has paralyzed the world. We understand that this health crisis has had an unprecedented impact on businesses in all sectors. However, this too will pass. Growing support from governments and several businesses can help fight this highly contagious disease. Some industries are struggling and others are thriving. Overall, almost every industry is expected to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during the COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of the coronavirus epidemic in all sectors to help you prepare for the future.

To learn more about the short and long term impact of COVID-19 on this market, please visit:https://www.fortunebusinessinsights.com/industry-reports/motor-control-centers-market-101193

Fortune Business Insights™ lists all companies operating in the global market. They are the following:

  • ABB
  • Electric Mitsubishi
  • Siemens
  • Schneider-Electric
  • WEG
  • Powell
  • Rockwell Automation
  • eaton
  • marine electricity
  • Ingeteam SA
  • Allis Electric Co. Ltd.
  • Myers Food Products, Inc.
  • Westcosa
  • Electricity A modern factory company

Report Scope and Segmentation –

Report cover Details
Forecast period 2020-2027
Forecast Period 2020 to 2027 CAGR 5.2%
2027 value projection $8.16 billion
base year 2019
Market size in 2029 $5.62 billion
Historical data for 2016-2018
Number of pages 160
Segments Covered Type; Voltage; Making up; Final user; Regional.
Growth engines To increase adoption of automation by developing economies to fuel market growth.
Industries focus on increased reliability and reduced plant downtime to fuel demand.

Pitfalls and Challenges

Stagnant investment from oil and gas industry to restrain market growth

This report answers the following questions:

  • How will the market be affected by changing consumer demand for motor control centers due to the Covid-19 pandemic?
  • What are the recent market trends, opportunities and challenges?
  • What are the crucial growth drivers and barriers swirling around the market?
  • What strategies are leading companies adopting to increase motor control center sales?

Drivers and Constraints-

Growing adoption of automation in various industries to drive growth

Several industries around the world are embracing automation because it offers many benefits. These include extended product life cycle, quality production, reduced waste, reduced human error, efficient manufacturing and low operating costs. It also helps to sharpen operational efficiency. Apart from this, increasing investment in the adoption of automation, increasing benefits of this sensor technology and booming industrial base in developing economies would aid in the growth of the center market engine control over the coming period.

Impact of the Covid-19 pandemic on the market:

  • The outbreak of the Covid-19 pandemic is expected to negatively affect the investment scenario of the oil and gas sector.
  • The industrial sector constantly struggles to cope with sudden changes in supply, demand and consumer needs.
  • There is also a continuity risk associated with the wide range of businesses as they are crippled by the outbreak.
  • There are security risks that may affect the demand for motor control centers.
  • Issues, such as lack of real-time decision-making, reduction in labor productivity, and rapid changes in volume would affect market growth.

Request a sample copy of the report:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/motor-control-centers-market-101193

Segment-

Increasing Application of Motor Control Center to Drive Busbar Segment Growth

On the basis of components, the market is divided into relays, variable speed drives, circuit breakers and fuses, busbars and others. Among these, the busbar segment held 30.8% market share of motor control centers in 2019. It currently dominates the market owing to the application of motor control centers in a wide range of electrical components, such as incoming busbars, earthing busbars and main busbars. .

Regional Analysis-

Increase investment in industrialization to foster growth in Asia-Pacific

In terms of region, the market is split into Middle East & Africa, Europe, Latin America, Asia-Pacific, and North America. Of these, Asia-Pacific generated $1.78 billion in revenue in 2019. This growth was attributed to the expansion of the manufacturing and processing industry, as well as an increase in investment in industrialization. The Indian government, for example, introduced the “Make in India” program in 2017 to encourage organizations to manufacture their products in the country. This would increase the demand for motor control centers in the near future.

Europe is expected to lead the market, supported by rising investment in power utilities and expanding industrial infrastructure. The Middle East and Africa would show steady growth as these countries mainly depend on the oil and gas sector. Companies operating in this sector need a reliable source of energy. Hence, motor control centers are in high demand in this region.

Competitive Landscape-

Key companies are investing in opening new manufacturing units to intensify competition

The market is home to well-known national and regional companies, such as Vidhyut Control, IDS-Technology GmbH, alfanar, and TES. These companies are adopting new product launch strategies, opening new motor control center manufacturing facilities, and securing new orders. Below are some of the latest key industry developments:

  • October 2018: ABB has opened its latest gas-insulated switchgear (GIS) manufacturing plant in Jakarta. This is the company’s fourth manufacturing unit and is the subject of a $30 million investment plan. The other units manufacture medium and low voltage switchgear, as well as air-insulated high voltage switchgear.
  • July 2014: The GPS Group has received an order from Imtech Water to deliver the equipment for the control system. It is destined for the Hoddesdon AD plant which is still under construction for Tamar Energy, a provider of sustainable organic waste management solutions. The new plant will be able to process more than 66,000 tonnes of food waste per year. It will also produce 3 MWe of electricity.

Quick Buy – Enterprise Content Management Market Research Report:https://www.fortunebusinessinsights.com/checkout-page/101193

Take a look at related research information:

Wire and Cable Market Size, COVID-19 Impact Sharing and Analysis, by Voltage (Low Voltage, Medium Voltage, High Voltage and Extra High Voltage), by End User (Aerospace & Defense, Construction {Commercial & Residential}, IT & Telecommunications, Power Transmission energy and distribution, oil and gas, consumer electronics, manufacturing, automotive and others) and regional forecast, 2020-2027

Organic Solar Cell Market Size, COVID-19 Impact Sharing and Analysis, by Application (Building Integrated Photovoltaic {BIPV}, Portable Electronics, Defense Application, Conventional Solar and Others) and Regional Forecast, 2020-2027

Biogas plant market sizeImpact, Sharing and COVID-19 Analysis by Feedstock (Bio-Municipal Waste, Agricultural Residues, Energy Crops and Others), by Digester Type (Wet Anaerobic Digester and Dry Anaerobic Digester), by Application (Production of electricity, heat production, transport, and others) and regional forecasts, 2020-2027

Floating Wind Power Market Size, Share & Covid-19 Impact Analysis, by water depth (shallow water ( 60 m depth)), by capacity (up to 3 MW, 3 MW up to 5 MW and above 5 MW), regional forecast, 2020-2027

Telecom Generator Market Size, COVID-19 Share and Impact Analysis, by Fuel Type (Diesel, Gas, and Others), Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, and Above 750 kVA), Application (Continuous , peak load , and standby) and regional forecast, 2020-2027

About Us:

Fortune Business Insight™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We adapt innovative solutions to our customers, helping them to meet the challenges specific to their activities. Our goal is to give our clients holistic market intelligence, providing granular insight into the market they operate in.

Our reports contain a unique blend of tangible insights and qualitative analysis to help businesses achieve sustainable growth. Our team of experienced analysts and consultants use cutting-edge research tools and techniques to compile comprehensive market research, interspersed with relevant data.

At Fortune Business Insights™, we aim to highlight the most lucrative growth opportunities for our clients. We therefore offer recommendations to help them navigate technological and market-related developments more easily. Our consulting services are designed to help organizations identify hidden opportunities and understand current competitive challenges.

Contact us:
Fortune Business Insights™ Pvt. ltd.
308, General Headquarters,
Inquiry No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Call:
USA: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
E-mail: [email protected]
Read the press release: https://www.fortunebusinessinsights.com/press-release/motor-control-centers-market-9925