Dublin, June 30, 2023 (GLOBE NEWSWIRE) -- The "Low Voltage Motor Control Center Market, By Type, By End User Vertical, and By Geography - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides in-depth analysis of the global low voltage motor control center market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2021 as the base year.
A Low Voltage Motor Control Center (LVMCC) is a system that provides electrical motor control, automation, and power distribution. These units are used in many industrial processes such as oil and gas refineries, manufacturing plants, and more. One of the most common uses for a motor control center is to control the starting and stopping of industrial machines.
This can protect the machine, materials, and operator. Another way to prevent malfunctions and damage is to complete routine maintenance on the system. This can extend the equipment's life span and eliminate safety hazards.
Several organizations develop standards for the design, construction, and application of motor control centers. These standards are designed to reduce the likelihood of arcing faults and other electrical hazards from occurring during the operation of these units. These types of centers can be installed in a wide range of industries, from oil and gas to cement, water and wastewater, and power generation.
Market Dynamics:
The global Low Voltage Motor Control Center market is mainly driven by increased automation across different industries. This has resulted in increased productivity. In turn, this has led to the increasing use of Low Voltage Motor Control Centers.
However, reduction in mining activities in Asia Pacific, and slow growth of oil and gas industry are the major factors expected to hamper growth of the global low voltage motor control center market during the forecast period.
Company Profiles:
- ABB Ltd
- Schneider Electric SE
- Siemens AG
- Rockwell Automation Inc.
- Eaton Corporation PLC
- Weg SA
- Allis Electric Co. Ltd
- Mitsubishi Electric Corporation
- Tesco Controls Inc.
Key features of the study:
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global low voltage motor control center market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Tesco Controls Inc., ABB Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Allis Electric Co. Ltd., Siemens AG, Weg SA, Rockwell Automation Inc., and Eaton Corporation PLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global low voltage motor control center market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global low voltage motor control center market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.81 Billion |
| Forecasted Market Value (USD) by 2030 | $6.62 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Detailed Segmentation:
by Type
- Traditional MCC
- Intelligent MCC
by End User Vertical
- Oil and Gas
- Metal and Mining
- Power Generation
- Automotive and Transportation
- Chemicals and Petrochemicals
- Water and Wastewater
- Food and Beverage
- Life Sciences
- Other End user Industries
by Geography
- North America
- Europe and Middle East & Africa
- Asia Pacific
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/iuqdqo
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