Motor Control Centers Market Research Report Explores the Trade Trends for the Forecast 2030

United State: Motor Control Centers Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Motor Control Centers Market by region.

Motor Control Centers Market is valued approximately USD 5.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.89% over the forecast period 2020-2027.

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The Motor control centers MCC controls several motors that are connected to the power bus. The basic purpose of MCC is to control the distribution of power to electrical motors. MCC panels contain variable frequency drives, program controllers, and metering devices. The global outbreak of COVID-19 adversely affected the market of motor control centers due to the subsequent slow down in supply of essential raw materials and devices used in motor control centers.

The essential role of motor control centers in controlling and distribution of power along with rising power generation across the globe is the factors driving the growth of market over the forecast years. For instance: as per the Indian Brand Equity foundation, India accounts for the sixth position in investment on clean energy at USD 90 billion, and investment in renewable plants in India is projected to USD 250 billion till 2023-2030. Similarly, as per International Energy Association, electric power sector accounted for about 96% of total U.S. utility-scale electricity generation, and energy production in 2019 was 102.11 quadrillion British thermal units and expected to increase to 114.35 quadrillion British thermal units till 2030. Moreover, rising demand for smart and integrated motor control and protective devices is creating a lucrative opportunity for the market growth. However, decreasing crude oil prices leading to the reduction in investment of oil & gas industry is the factor hampering the market growth.

The regional analysis of global Motor Control Centers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of stringent government regulation in the region.

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Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing power generation and investment in power generation would create lucrative growth prospects for the Motor Control Centers market across Asia-Pacific region.

Major market player included in this report are:
ABB
Rittal
Technical Control Systems
Tesco Controls
Rockwell Automation
Mitsubishi Electric
Siemens
Schneider Electric
Larsen & Toubro
Fuji Electric

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Type:
Intelligent
Conventional

By Voltage:
Low voltage
Medium Voltage

By Standard:
International Electrotechnical Commission (IEC)
Nema
Others

By End-user:
Industrial
Commercial

By Component:
Busbars
Circuit Breakers & Fuses
Overload Relays
Variable Speed Drives
Soft Starters
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027

Target Audience of the Global Motor Control Centers Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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Table of content:

Market Snapshot
Key Trends
Estimation Methodology
Research Assumption
Objective of the Study
Market Definition & Scope
Market Drivers
Market Opportunities
Porter's 5 Force Model
PEST Analysis
Risk Assessment: COVID-19 Impact
Competitive Intelligence
Research Process
What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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This release was published on openPR.