Witness the Excellent Long-Term Growth Outlook of Motor Control Centers Market: $6.22 Billion by 2022

1. Witness the Excellent Long-Term Growth Outlook of Motor Control Centers Market: $6.22 Billion by2022 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 controlcenters. 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. Get Sample Copy of Report Here: https://www.marketsandmarkets.com/requestsample.asp?id=227058918 The low voltage segment is expected to hold the largest share of the motor control centers market, by voltage, during the forecastperiod The low voltage segment includes motor control centers of up to 1 kV. The segment is expected to hold the major share due to the widespread adoption of low voltage motors in various industries globally. Low voltage motor control centers are mainly used in the chemicals and petrochemicals, paper and pulp, cement, food and beverage, automobile, oil and gas, cement, and textile industries. The market in Asia-Pacific is the largest for low voltage motor control centers because of rapid industrialization and urbanization in countries such as China and India. All these factors are expected to boost the low voltage motor control centersmarket. The busbars segment is the largestmotor control centers market, by component The busbars segment held the largest share of the motor control centers market in 2016. A busbar is the most important component of a motor control center as it acts as a common voltage point for all electrical equipment connected to the MCC. 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. Busbars are mainly used in utilities to deliver power to buildings and in industrial applications to deliver power to electrical loads.

2. 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 elimina tion of the need for additional wires have led to the rising demand for busbars in the motor control centersmarket.ThebusbarsmarketinAsia-PacificisexpectedtogrowatthehighestCAGR. Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownload.asp?id=227058918 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. Browse Full Report@ https://www.marketsandmarkets.com/Market-Reports/motor- control-centers-market-227058918.html 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 centersmarket. To speak to our analyst for a discussion on the above findings, click Speak toAnalyst

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