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Global Low Voltage Motor Control Centre Market to Grow at a CAGR of 3.40% During 2022-2027, Aided by the Increasing Demand for Intelligent MCC

According to a new report by EMR titled, ‘Global Low Voltage Motor Control Centre Market Report and Forecast 2022-2027’, the market attained a value of about USD 3.82 billion in 2021. The market is further expected to grow at a CAGR of 3.40% in the forecast period of 2022-2027 to reach a value of nearly USD 4.67 billion by 2027.

The growing demand for intelligent MCC to enhance the accessibility to data, optimise the performance of facilities and power systems, and boost decision-making processes is fuelling the market growth. Low installation costs, reduced engineering time, ease of modification, and detailed diagnostics offered by intelligent MCC are anticipated to significantly surge its demand.

 

Original equipment manufacturers (OEMs), contractors, and engineers are increasingly adopting intelligent motor control centres to boost project timelines, reduce cost, gain valuable insights, and enhance personnel safety, which is expected to bolster the market growth. Technological advancements and innovations in intelligent MCC to enable the visualisation of diagnostic issues are likely to further propel the growth of the low voltage motor control centre market in the forecast period.

 

ABB’s Electrification (NYSE: ABB), one of the leading companies in the market, announced the launch of ReliaGear™ LV MCC, its latest low voltage motor control centre, in February 2021. The product is designed for safety and is created to meet consumer requirements across a wide range of applications, focusing on smart MCC solutions. It is engineered for use in demanding applications in various industries such as mining and metals, pulp and paper, utility, oil and gas, chemical, water and wastewater, and mass-production manufacturing. It provides a smarter, safer, and more sustainable solution to control and protect motors.

 

As the product features a retractable stab mechanism, it ensures the safety of operators from potential arc flash hazards and allows for close-door racking. Moreover, its ACS580 variable frequency drives are compatible with various fieldbus protocols for easy integration with other systems.

 

Market Analysis by Type, End-User Industry, and Region:

  • The market, on the basis of type, can be divided into traditional MCC and intelligent MCC.
  • Based on end-user industry, the market can be divided into oil and gas, metal and mining, power generation, automotive and transportation, chemicals and petrochemicals, water and wastewater, food and beverages, among others.
  • The regional markets for low voltage motor control centre include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Key Findings of the Report:

  • The rising demand for electricity and rapid urbanisation and industrialisation are surging the utilisation of low voltage motor control centres, hence aiding the market growth.
  • The market for low voltage motor control centre is being bolstered by the expansion of infrastructural development and the surging investments in the water and wastewater treatment sector.
  • The surging power generation capacity, the growing penetration of industrial automation in emerging countries, and improving industrial plant uptime are augmenting the market growth of low voltage motor control centre.
  • The growing demand for low voltage motor control centres to regulate electric motors in oil and gas refinery applications is invigorating the market growth.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for low voltage motor control centre for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, end-user industries, and major regions of low voltage motor control centre.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global market are Tesco Controls Inc., Mitsubishi Electric Corporation, Allis Electric Co Ltd, Eaton Corporation PLC, Rockwell Automation Inc., Siemens AG, and ABB’s Electrification, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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