Why Motor Control Centers Market is so Stable and Reach to Revenue Worth 6.22 Billion USD by 2022

The global motor control centers market is projected to grow at a CAGR of 5.47%, from 2017 to 2022, to reach a market size of USD 6.22 Billion by 2022. This growth is attributed to increasing industrial automation in developed regions and increasing power generation capacity additions globally. The increased use of electric motors in key industries and increased industrial plant uptime is expected to boost the demand for motor control centers.
The leading players in the motor control centers market include ABB, Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), Rockwell Automation, Inc. (U.S.), and General Electric Company (U.S.). New product developments was the most commonly adopted strategy by top players in the market from 2013 to 2017. It was followed by contracts & agreements, expansions, and mergers & acquisitions.
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Scope of the Report:
• By Type
o Conventional Motor Control Centers
o Intelligent Motor Control Centers
• By Voltage
o Low Voltage
o Medium Voltage
• By Component
o Busbars
o Circuit Breakers and Fuses
o Overload Relays
o Variable Speed Drives
o Soft Starters
o Others
• By Standard
o IEC
o NEMA
o Others
• By End-User
o Industrial
 Oil & Gas
 Mining and Metals
 Utilities
 Chemicals and Petrochemicals
 Cement and Manufacturing
 Food and Beverage
 Others

o Commercial
• By Region
o Asia-Pacific
o North America
o Europe
o South America
o Middle East & Africa
The busbars segment of the motor control centers market, by component, accounted for the largest market size in 2016. Busbars are the major current carrying components of motor control centers. The increase in the flexibility, efficiency, and reliability of busbars and the elimination of the need for additional wires have led to the rising demand for busbars in the motor control centers market. The busbars market in Asia-Pacific is expected to grow at the highest CAGR.
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The report segments the 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 motor control centers are extensively used 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 demand for electricity across the world.
In this report, the motor control centers market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. The market in Asia-Pacific is expected to lead the global motor control centers market by 2022 and is projected to grow at the highest CAGR, from 2017 to 2022. This growth is attributed to rising industrialization and urbanization and increasing power generation capacity in the region. The markets in countries such as China, India, Japan, and Australia are driving the motor control centers market in Asia-Pacific. The infrastructural developments and investments in the water and wastewater industry in the Middle East & Africa are expected to drive the motor control centers market in the Middle East & Africa.
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The oil & gas industry is one of the leading end-user industries for motor control centers. The recent downturn in crude oil prices has resulted in a steep fall in capital budgets, which has reduced the demand for industrial equipment. The stagnancy in the oil & gas industry is expected to act as a restraint for the motor control centers market. Motors and motor control centers are required for mining applications such as drills, hoists, mills, crushers, and conveyors, among others. Thus, the downturn in the mining industry is also expected to impact the growth of motor control centers market.
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