Motor Control Centers Market to Post an Annual Growth Rate of 5.95% during 2017 to 2023
Motor Control Centers Market by Type (Conventional Motor Control Centers, Intelligent Motor Control Centers), Voltage (Low voltage and Medium voltage), Component (Busbars, Circuit Breakers & Fuses, Overload Relays), End User (Industrial, Commercial and Utilities) and by Region – Forecast To 2023
Pune, India – August 30, 2017 /MarketersMedia/ —
Market Highlights:
Market Research Future published a half cooked research report on Global Motor Control Centers Market. The Motor Control Centers Market is expected to grow over the CAGR of around 5.95% during the period 2017 to 2023.
The need for continuous uninterrupted electric supply is growing because of the worldwide rise in population and rapid industrialization. The increasing need of reliable electric supply and subsequent investment in transmission & distribution network, grid expansion, and developing safe electrical infrastructure is expected to drive the growth of the global motor control centers market.
The motor control centers market in the Asia-Pacific region is expected to grow the fastest during the forecast period. The rapid industrialization, urbanization, and fast economic growth with growing electrical infrastructure in the countries such as India and China, will drive the market for motor control centers.
Key Players:
The key players of Global Motor Control Centers Market are General Electric (U.S.), Siemens AG (Germany), ABB, Ltd. (Switzerland), Schneider Electric SE (France), Rockwell Automation (U.S.), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Larsen & Toubro Limited (India), Technical Control Systems Ltd. (U.K), and WEG S.A. (Brazil).
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Market Research Analysis:
Industrial Segment of Motor Control Center is Expected to Grow at the Highest Rate in the Motor Control Centers Market from 2017-2023.
The industrial usage of motor control centers currently holds a large share of total volume of motor control centers and is expected to dominate the market during forecast period. The increase in industrial development across the globe leading to the wide application of small and medium voltage motor control centers in industries for safe operations, will further enhance the industrial motor control centers market during the forecast period.
Busbars Segment of Motor Control Center is Expected to Grow at the Highest Rate in the Motor Control Centers Market from 2017-2023.
The busbars segment of the motor control centers market, by component, accounted for the largest market size in 2016 and is expected to dominate the market during forecast period. Busbars are the prime current carrying constituents of motor control centers. The growth in the flexibility, proficiency, and consistency of busbars have led to the rising demand for busbars in the motor control centers market.
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Scope of the Report:
This study provides an overview of the global motor control centers market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global motor control centers market by its product type, voltage, by component, end-user and by regions.
By Type:
• Conventional Motor Control Centers
• Intelligent Motor Control Centers
By Voltage:
• Low voltage
• Medium voltage
By Component:
• Busbars
• Circuit Breakers & Fuses
• Overload Relays
• Variable Speed Drives
• Soft Starters
• Others
By End User:
• Industrial
• Commercial
• Utilities
By Regions:
• North America
• Asia Pacific
• Europe
• Rest of the World
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Source: MarketersMedia
Release ID: 234533
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