India Motor Control Center Market Pegged to Reach $ 582 Million by 2025
Growing urbanization and
industrialization, rising use of electric motors in key industries, increasing
demand for industrial automation and mechanization, expansion of manufacturing
sector, among other factors to drive Indian motor control center market through
2026
According to
TechSci Research report, “India
Motor Control Center Market
By Type, By Voltage, By Component, By Standard, By End User Industry, By
Region, Competition, Forecast & Opportunities, 2015-2026”,
the motor
control center market in India is forecast to reach $ 582
million by 2026
on account of growing urbanization and industrialization, increasing demand
for industrial automation and mechanization, increased industrial plant uptime,
and rising use of electric motors in key industries such as chemicals & petrochemicals,
power generation, metals and mining, etc. India motor control center market can
be segmented based on type, voltage, component, standard, end user industry and
region. In terms of type, the market can be bifurcated into conventional and
intelligent segments, with the former segment dominating the market in 2020.
Nevertheless, intelligent motor control center market is expected to grow at a
higher rate due to its remote diagnostic capabilities and advanced features such as
loss detection and predictive maintenance. Based on voltage, the market can be
segmented into low, medium and high voltage segments. Low voltage motor control
centers are highly preferred in India due to their widespread adoption in
various industries. On the basis of standards, the motor control center market in
India is segmented into IEC, NEMA and others, with IEC being the widely used
standard for motor control centers in the country.
In terms of end
user industry, motor control center market is segmented into Oil & Gas,
Chemical & Petrochemicals, Energy & Utilities, Mining & Metals,
Others. Oil and gas industry accounted for the largest share in the country’s motor
control center market, however, the Energy & Utilities and Mining & Metals
segments are expected to take the lead during the forecast period.
Browse 33 market data Figures and Tables spread
through 70
Pages and an in-depth TOC on "India Motor Control Center Market
"
https://www.techsciresearch.com/report/india-motor-control-centers-market/4471.html
Larsen& Toubro Limited, Vidhyut Power Private Limited, Rockwell
Automation India Pvt. Ltd., ABB India Ltd., Siemens India, Schneider Electric
India Pvt. Ltd., Eaton India, Fuji Electric India Pvt. Ltd, Mitsubishi Electric
India Pvt. Ltd., and Rittal India Pvt. Ltd are among the leading players
operating in India motor control center market. Key players operating in the
market are using organic strategies such as product advancements through
addition of new features, as well as mergers and collaborations to boost their market
share. With rising urbanization and industrialization in India, demand for
motor control centers would continue to grow in the coming years. Moreover, growing awareness and regulations pertaining to energy saving is further
expected to propel the market demand over the next five years.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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“India Motor Control Center
Market By Type, By Voltage, By Component, By Standard, By End User Industry, By
Region, Competition, Forecast & Opportunities, 2015-2026” has evaluated
the future growth potential of India motor control center 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 take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India motor control center market.
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