The report “Low Voltage Motor Control Centers Market by Type (Intelligent and Conventional), End-User (Industrial and Commercial), Component (Busbars, Circuit Breakers and Fuses, Overload Relays, VSDS, and Soft Starters), and Region – Global Forecast to 2022″, The low voltage motor control centers market is expected to grow from an estimated value of USD 3.07 Billion in 2017 to USD 4.03 Billion by 2022, at a CAGR of 5.62% from 2017 to 2022. The global market is set to witness a significant growth due to the rising industrial automation and increased use of low voltage electric motors across key industries.
The leading players in the low voltage motor control centers market:
Schneider Electric (France)
Rockwell Automation (U.S.)
General Electric (U.S.)
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The busbars segment of the low voltage motor control centers market, by component, accounted for the largest market size in 2016. Busbars are the major current carrying components of low voltage motor control centers. These are used in utilities to deliver power to buildings and, in industrial applications, to deliver power to electrical loads. Also, the busbars alternative to traditional cabling provides numerous advantages to the installer and client, including savings on space, time, and cost. All these factors are expected to drive the busbars segment of low voltage motor control centers market.
The report segments the low voltage motor control centers market, by end-user, into industrial and commercial. The industrial segment includes the oil & gas, water and wastewater, power generation, mining, and others subsegments, the last of which includes the cement, chemicals and petrochemicals, and paper and pulp industries. The oil & gas segment accounted for the largest market share in 2016 as low voltage motor control centers are extensively used to control low voltage motors for drilling and various others production processes in the oil & gas sector. The utilities segment is expected to grow at the highest CAGR from 2017 to 2022, due to the increasing power generation capacity additions globally.
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Table of Contents
– Research Methodology
– Executive Summary
– Premium Insights
– Market Overview
– Market Segmentation
– Competitive Landscape
– Company Profiles
– List of Tables
– List of Figures
In this report, the low motor control centers market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. The market in Asia-Pacific is expected to lead the global low voltage motor control centers market by 2022 and is projected to grow at the highest CAGR from 2017 to 2022. The market growth in this region can be attributed to rising industrialization and urbanization and increasing electricity demand. Countries such as China, India, Japan, and Australia are the key markets for low voltage motor control centers in the Asia Pacific region. The increasing investments in the water and wastewater industry and increasing infrastructural developments in the Middle East & Africa are expected to drive the low voltage motor control centers market in the Middle East & Africa.
The oil & gas industry is one of the leading end-user industries for low voltage motor control centers. The oil & gas industry requires all types of motor control centers to provide sufficient protection from voltage, speed, and frequency surges to run business operations smoothly and without any interruption. The recent downturn in crude oil prices has resulted in a steep fall in capital budgets, which has reduced the demand for industrial equipment. The stagnancy in the oil & gas industry is expected to act as a restraint for the low voltage motor control centers market.
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