Motor Control Centers Market Highlights, Fundamentals 2018, Forecast till 2022

The global motor control Centers market is projected to grow at a CAGR of 5.47%, from 2017 to 2022, to reach a market size of USD 6.22 Billion by 2022. This growth is attributed to increasing industrial automation in developed regions and increasing power generation capacity additions globally. The increased use of electric motors in key industries and increased industrial plant uptime is expected to boost the demand for motor control centers.

The leading players in the motor control centers market include ABB, Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), Rockwell Automation, Inc. (U.S.), and General Electric Company (U.S.). New product developments were the most commonly adopted strategy by top players in the market from 2013 to 2017. It was followed by contracts & agreements, expansions, and mergers & acquisitions.

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The report segments the motor control centers market, by standard, into IEC, NEMA, and others. The others segment include Underwriters Laboratories (UL), the Institute of Electrical and Electronic Engineers (IEEE), and the National Fire Protection Association (NFPA). The IEC segment is expected to lead the motor control centers market and is projected to grow at the fastest rate during the forecast period.

The busbars segment of the motor control centers market, by component, accounted for the largest market size in 2016. Busbars are the major current carrying components of motor control centers. The increase in the flexibility, efficiency, and reliability of busbars and the elimination of the need for additional wires have led to the rising demand for busbars in the motor control centers market. The busbars market in Asia-Pacific is expected to grow at the highest CAGR.

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The points given below explain the research methodology.

• Study of annual revenue and market developments of major players that provide motor control centers
• Analyses of major end-use industries and applications of motor control centers
• Assessment of future trends and growth of the motor control centers market on the basis of investments in motors in the control and automation industry
• Assessment of the motor control centers market with respect to conventional and intelligent motor control centers based on type
• Study of the market trends in various regions and countries based on the voltage ranges of motor control centers
• Study of the contracts and developments related to the motor control centers market by key players across different regions
• Finalization of overall market sizes by triangulating the supply-side data, which includes product developments, supply chains, and annual revenues of companies manufacturing motor control centers across the globe

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In this report, the motor control centers market has been analysed 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 motor control centers market by 2022 and is projected to grow at the highest CAGR, from 2017 to 2022. This growth is attributed to rising industrialization and urbanization and increasing power generation capacity in the region. The markets in countries such as China, India, Japan, and Australia are driving the motor control centers market in Asia-Pacific.

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