Low Voltage Motor Control Centers Market Definition

Low Voltage Motor control centers are used in electric vehicles for low voltage three-phase alternating current motors from 208 V to 600 V. They have enclosed sections having a common power bus, along with a motor control unit, that can overlook all the functions of the electric engine.

Low Voltage Motor Control Centers Market Scope Report

Global Low Voltage Motor Control Centers Market Highlights Over 2023 - 2033

The global low voltage motor control centers market is estimated to garner a revenue of ~ USD 9 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 4 billion in the year 2022. The steady growth in industrialization is the primary factor driving the progress of the global low-voltage motor control centers market. For instance, more than 752 million people worldwide are estimated to be working in industries as of 2021.

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When industrialization happens, the focus of a nation or region’s economy shifts from a reliance on agriculture to manufacturing, thereby increasing the power demand.  Using a motor control center (MCC), the functioning of a collection of electrical loads can be monitored and controlled and considerably reduce the chances for arc flashes that can cause grave risks to many industrial functions.

Global Low Voltage Motor Control Centers Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Use of Industrial Robots with Industrial Automation – As of 2020, the global shipment volume of industrial robots is more than 383999 units, and this is expected to reach more than 517999 units by 2024. Robots in industries help in welding, assembly, painting, disassembly, packaging, palletizing, labeling, testing, product inspection, material handling, and more. All these applications are accomplished at high speed, endurance, and precision. The use of industrial robots further enhances the demand for low-voltage motor control centers (LV MCCs).

• Immense Rise in Power Generation – A significant growth has been observed in global electricity generation in the past three decades, from up to 12,000 terawatt-hours in 1990 to about 28,501 terawatt-hours in 2021.

• Considerable Growth of Urbanization – As of 2022, more than 56% of the global population is residing in urban areas.

• Immense Progress in the Automobile Industry – Since the severe disruption in the automotive industry following COVID-19, global motor vehicle production has witnessed an increase of about 4% between 2020 and 2021.

Challenges

• Maintenance and Monitoring of Industrial LV MCCs

• High Costs Involved in Replacements

• A decline in the Manufacturing Industry Following COVID-19

The global low voltage motor control centers market is segmented and analyzed for demand and supply by end-user into industrial and commercial. Between these, the industrial segment is anticipated to hold the largest market size by the end of 2033. The general growth of energy demand and particularly in the oil and gas sector are thought to be the major driving factor of the segmental market growth. It is estimated that between 2019 and 2021, there was an increase of about 2% in the primary need for energy. LV MCCs are inevitable in oil and gas refineries for centrally controlling the electric motors used in different industrial processes, including production and processing, pumping, drilling, and more.

Global Low Voltage Motor Control Centers Market Regional Synopsis

Regionally, the global low voltage motor control centers market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033. The immense growth of the manufacturing industry in the region, along with the systematic shift toward factory automation, are the factors leading the regional market growth. For instance, according to the World Bank, the value added by the manufacturing sector of east Asia & Pacific in 2021 is estimated to be 25% of the gross domestic product (GDP).

Market Segmentation

Our in-depth analysis of the global low-voltage motor control centers market includes the following segments:

Key Companies Dominating the Global Low Voltage Motor Control Centers Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global low voltage motor control centers market that are included in our report are Rockwell Automation Inc., ABB ltd, Schneider Electric, Siemens AG, Tesco Controls, Inc., Mitsubishi Electric Corporation, WEG Equipamentos Elétricos S.A., Technical Control Systems Ltd, Fuji Electric Co., Ltd., Eaton Corporation plc, and others.

Global Low Voltage Motor Control Centers Market: Latest Developments

• July 2022: Rockwell Automation Inc. announced integrating two more PowerFlex variable frequency drives (VFDs) with a global motor control center to help industrial operators improve safety, production, and energy performance.

• August 2022: ABB Ltd. announced expanding its NEMA motor portfolio with the acquisition of the low voltage NEMA motor business by Siemens AG.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the client's requirement helping them to see possible and unexpected challenges and unforeseen opportunities to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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