Motor Control Centers Market to Grow with a CAGR of 7.19% through 2028
Growing need for
reliable and efficient power distribution and Increasing demand for industrial
automation are likely to drive the market in the forecast period.
According to TechSci
Research report, “Motor Control Centers Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Motor Control Centers Market stood at USD 5.08 billion in 2022 and is
anticipated to grow with a CAGR of 7.19% in the forecast period. A major driver of the global Motor
Control Centers (MCC) market is the relentless expansion of industrial
automation and digitization. As industries increasingly embrace Industry 4.0
principles and digital transformation, the demand for advanced MCCs grows
substantially. These MCCs serve as the central nervous system of industrial
processes, providing the means to control, monitor, and safeguard electric
motors and associated machinery. In today's interconnected industrial
landscape, MCCs are equipped with sophisticated features such as remote
monitoring, predictive maintenance capabilities, and real-time data analytics.
They are pivotal in facilitating data-driven decision-making, reducing
unplanned downtime, and ensuring the seamless operation of industrial
facilities. Integration with Industrial Internet of Things (IIoT) platforms
further enhances their functionality, making them indispensable in modern
manufacturing and process industries. The pursuit of operational efficiency,
cost reduction, and increased productivity is driving industries to invest in
smart MCCs that can adapt to dynamic production environments. As a result, the
continued growth of industrial automation and digitization serves as a potent
driver for the global MCC market.
The global MCC market is significantly
influenced by the continual expansion of industrial infrastructure on a global
scale. Emerging economies, in particular, are witnessing substantial growth in
manufacturing, construction, and various industrial sectors. This expansion
translates into a heightened demand for MCCs, which play a critical role in
controlling motors and related equipment in industrial applications. Industries
such as oil and gas, mining, automotive, and food and beverage are experiencing
increased investments in infrastructure development. As new manufacturing
facilities and production lines are established, the need for MCCs to manage
motor-driven machinery becomes evident. Moreover, older industrial facilities
are undergoing refurbishment and modernization, often involving the replacement
of outdated MCCs with technologically advanced and more efficient solutions.
The expanding industrial infrastructure
is a driving force behind the growth of the global MCC market. It signifies
opportunities for MCC manufacturers and suppliers to provide solutions that
cater to the evolving needs of industries as they strive for enhanced
operational capabilities and productivity.
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The Global Motor
Control Centers Market is segmented into type, voltage, component, end user, and
region. Based on type, The
Conventional Motor Control Centers segment had the largest market share in 2022
& expected to maintain it in the forecast period. Many industrial
facilities have long-standing infrastructure and processes that rely on
Conventional MCCs. Replacing these systems with Intelligent MCCs can be a
significant undertaking that requires both financial and operational
considerations. Therefore, legacy systems often continue to be used even as
newer technologies become available. Conventional MCCs are generally less
expensive to purchase and install compared to Intelligent MCCs. For industries
operating on tight budgets, cost-effectiveness remains a critical factor in
their decision-making process. Conventional MCCs are straightforward to operate
and maintain. Industrial personnel who have been working with these systems for
years are familiar with their functionality. Transitioning to Intelligent MCCs
may require additional training and adjustment, which some organizations may be
hesitant to undertake. In certain applications where complex automation and
data analytics are not essential, Conventional MCCs can adequately meet the
control and monitoring needs of the facility. If the primary purpose is to
start and stop motors and protect against overloads, conventional systems may
be sufficient. Some industries, particularly those in highly regulated sectors
like pharmaceuticals and chemicals, may be risk-averse when it comes to
adopting new technologies. They might prefer the reliability and proven track
record of Conventional MCCs to minimize the potential for operational
disruptions. Industrial facilities often operate on long-term equipment upgrade
cycles. As these cycles progress, organizations may gradually adopt Intelligent
MCCs, but the full transition may take time.
Based on voltage,
The Medium voltage (MV) segment had the largest market share in 2022 and is
projected to experience rapid growth during the forecast period. MV MCCs are
typically used in heavy industries such as utilities, oil and gas, mining, and large-scale
manufacturing. These industries often require higher voltage levels to power
large motors and equipment, making MV MCCs a natural choice. MV MCCs are
preferred in infrastructure projects such as power generation plants,
substations, and large industrial complexes where the distribution of
electricity at medium voltage levels is more efficient over longer distances.
In utilities and power generation, MV MCCs are used to control and distribute
electricity to the grid. The grid itself operates at medium voltage,
necessitating the use of MV MCCs for compatibility. Industries that rely on
large motors with high power requirements, such as the mining and oil and gas
sectors, often use MV MCCs because they can handle the higher voltage and
current demands of these motors. In some hazardous environments, MV MCCs may be
preferred due to their higher safety standards and reduced risk of electrical
faults.
Major companies
operating in the Global Motor Control Centers Market are:
- Schneider Electric SE
- Siemens AG
- ABB Ltd
- Eaton Corporation plc
- General Electric Company
- Mitsubishi Electric Corporation
- Rockwell Automation Inc
- WEG Industries
- Fuji Electric Co., Ltd
- Gemco Controls
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“The Global Motor
Control Centers market is expected to rise in the upcoming years and register a
significant CAGR during the forecast period. The global Motor Control Centers
(MCC) market is propelled by the relentless march of industrial automation. As
industries worldwide embrace automation technologies to optimize production
processes and reduce operational costs, the demand for advanced MCCs soars.
These control centers serve as the operational nerve center, streamlining the
management and protection of electric motors and associated equipment. The
trend toward smarter, more efficient MCCs equipped with remote monitoring,
predictive maintenance, and real-time analytics capabilities is driving growth.
In this era of Industry 4.0, MCCs are integral to enhancing efficiency,
minimizing downtime, and ensuring industrial competitiveness. Therefore, the
market of Motor Control Centers is expected to boost in the upcoming years.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Motor
Control Centers Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Type (Conventional Motor Control Centers and
Intelligent Motor Control Centers), By Voltage (Low voltage and Medium
voltage), By Component (Busbars, Circuit Breakers & Fuses, Overload Relays,
Variable Speed Drives, Soft Starters and Others), By End User (Industrial,
Commercial and Utilities), By Region, By Competition”,
has evaluated the future growth potential of Global Motor Control Centers
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Motor Control Centers
Market.
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