Low Voltage Motor Control Centers Market - Forecast to Reach $4 Billion by 2022
DUBLIN, October 13, 2017 /PRNewswire/ --
The "Low Voltage Motor Control Centers Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global low voltage motor control centers market is projected to grow at a CAGR of 5.62% from 2017 to 2022, to reach a market size of USD 4.03 Billion by 2022. The market growth can be attributed to increasing industrial automation and booming power sector globally. The increased use of low voltage electric motors in key industries and increased industrial plant uptime are expected to boost the demand for low voltage motor control centers.
The report segments the low voltage motor control centers market, by type, into conventional motor control centers and intelligent motor control centers. The conventional motor control centers segment is expected to lead the market for low voltage motor control centers in 2017. The intelligent motor control centers segment is projected to grow at the fastest rate during the forecast period due to increasing levels of industrial automation in end-user industries globally.
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.
Companies Mentioned
- ABB Ltd.
- Eaton Corporation Plc
- Fuji Electric Co., Ltd.
- General Electric Company
- Larsen & Toubro Limited
- Lsis Co., Ltd.
- Mitsubishi Electric Corporation
- Rockwell Automation, Inc.
- Schneider Electric Se
- Siemens Ag
- Technical Control Systems, Ltd.
- Tesco Controls, Inc.
- Weg Sa
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Low Voltage Motor Control Centers Market, By Type
8 Low Voltage Motor Control Centers Market, By Component
9 Low Voltage Motor Control Centers Market, By End-User
10 Low Voltage Motor Control Centers Market, By Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/research/nxvrpt/low_voltage_motor
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