Global Low Voltage Motor Control Centre Market Report and Forecast 2024-2032

Global Low Voltage Motor Control Centre Market Outlook

The global market for low-voltage motor control centres reached a value of about USD 4.08 billion in 2023. The industry is further expected to grow at a CAGR of about 3.4% in the forecast period of 2024-2032 to reach a value of around USD 5.52 billion by 2032.

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Asia Pacific to be a Significant Regional Market for Low Voltage Motor Control Centre

The market in the Asia Pacific region is expected to lead the global low voltage motor control centre market and is projected to grow at the highest CAGR during the forecast period of 2024-2032. Increased industrialisation, urbanisation, and rising electricity demand are the factors driving the market expansion in this region. China, India, Japan, and Australia are the most important markets for low voltage motor control centres in the Asia Pacific region. The low voltage motor control centres market in the Asia Pacific is predicted to be driven by rising investments in the water and wastewater industry and expanding infrastructural developments in the region. Also, the increasing power generation capacity addition, strong governmental initiatives, and ongoing projects will propel the market in the Asia Pacific region. Asian countries are experiencing a factory automation shift to make manufacturing processes more efficient and reduce defect rates. The Korean government, for instance, is focusing on smart manufacturing, with the goal of having 30,000 fully automated manufacturing enterprises by 2025. The government intends to accomplish this by using cutting-edge automation, data exchange, and Internet of Things (IoT) technology.

Market Segmentations

A motor control centre is a piece of equipment that allows you to operate several motors from a single place. A motor control centre is a collection of one or more enclosed sections connected by a common power bus and containing primarily motor control modules. This sort of motor control centre is perfect for combining electrical motor control, power distribution, and automation into a small and cost-effective container.

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Based on type, the low voltage motor control centre market is divided into:

• Traditional MCC
• Intelligent MCC

The several end-user industries of the market are:

• Oil and Gas
• Metal and Mining
• Power Generation
• Automotive and Transportation
• Chemicals and Petrochemicals
• Water and Wastewater
• Food and Beverages
• Others

The regional markets for the low voltage motor control centre market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Ongoing Trends in Industrial Automation Propelling the Market Growth

The factors contributing to the growth of the global low voltage motor control centres market include the penetration of industrial automation in emerging economies, improved industrial plant uptime, and growing power generation capacities. During the times of continuous technological developments, rising industrialisation, urbanisation, and enhancement in existing industrial infrastructure are expected to offer significant opportunities to the manufacturers of low voltage motor control centres for their greater application and will further aid the low voltage motor control centres market growth.

In oil and gas refineries, low voltage motor control centres are used to centrally regulate the electric motors that drive various industrial processes such as pumping, production and processing, air compressors, and drilling, among others. As a result, several global companies are adding new features to their low voltage motor solutions to cater to a wide range of applications. For example, ABB introduced new low voltage IEC (LV) flameproof motors in frame sizes 80-132 in June 2019, which offer the same safety and efficiency advantages as the company's larger products. These motors were created by the business for use in hazardous and explosive oil and gas situations, such as offshore oil rigs.

Key Players in the Global Market for Low Voltage Motor Control Centre

The report gives a detailed analysis of the following key players in the global low voltage motor control centre market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Tesco Controls Inc.
• Mitsubishi Electric Corporation
• Allis Electric Co Ltd
• Eaton Corporation PLC
• Rockwell Automation Inc.
• Siemens AG
• ABB’s Electrification
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report