Pune, India, May 31, 2023 (GLOBE NEWSWIRE) — The global engine control center market The size was valued at USD 5.53 billion in 2022. The market is expected to grow from USD 5.84 billion in 2023 to USD 9.39 billion in 2030, showing a CAGR of 7.0% during the forecast period. Fortune Business Insights presents this information in its report titled “Global Motor Control Center Market, 2023–2030”.
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One or more closed sections are brought together by a motor control center with a common power bus housing the motor control unit. In this you can find frequency variators and machinery programmers, which also serves as the input of electrical energy to the installation. This is an important enclosure used to house the typical motor control. They are used in numerous commercial and industrial environments. To protect the engine control center from corrosion and dust, the Engine Control Center (MCC) is located in a separate climate control room. MCC can also be located near the machines it regulates on the factory floor.
Motor Control Center Market scope:
| Coverage of the report | Details |
| Forecast period | 2023-2030 |
| Forecast period 2023 to 2030 CAGR | 7.0% |
| Value projection 2030 | 9.39 billion dollars |
| base year | 2022 |
| Market size in 2022 | 5.53 billion dollars |
| Historical data for | 2019-2021 |
| Number of pages | 240 |
| Segments covered | By voltage, type, component, end user and region |
| Growth factors | Increasing demand for automation and industrial mechanization is stimulating the demand for MCC |
| Increasing demand for intelligent motor control centers is revitalizing the market growth |
Impact of COVID-19:
COVID-19 has significantly affected the global market
As investments fell across numerous sectors globally in 2020, the year-on-year growth of the market was hampered by COVID-19. The outbreak of COVID-19 led to changes in consumer demand and behavior, purchasing habits, supply chain reorientation, the dynamics of existing market forces, and significant government actions. The oil and gas sector is one of the main contributors to the market. Refineries are being hit hard by the drop in oil prices as a result of overproduction and falling demand, which further slows their investments in cutting-edge machinery. Even the automotive sector has been severely affected, with symptoms including a ban on Chinese parts exports, widespread production shutdowns in Europe and the closure of North American assembly plants.
For more information on the short-term and long-term impact of COVID-19 on this market, visit: https://www.fortunebusinessinsights.com/industry-reports/motor-control-centers-market-101193
The report provides:
• Main growth drivers, limiting factors, opportunities and potential challenges
• Comprehensive knowledge of regional developments.
• List of the main players in the sector.
• Key strategies adopted by market players.
• Latest industry developments include product launches, partnerships, mergers and acquisitions.
Market Drivers:
Automation and industrial mechanization are increasing the demand for products
The need for automation and mechanization of many industrial processes has developed as a result of industrial progress. Numerous engines are needed to automate different industrial operations; therefore, MCC is required to regulate all motors. Pluggable and unpluggable control components can be connected to the MCC. This means that the device does not require wiring. The MCC consists of rods and other control devices that can be used to regulate the movement of the motor and arrange the components on the integrated panel. These factors are expected to increase the overall market share during the forecast period.
As capital expenditure has reduced as a result of the recent fall in crude oil prices, there is now less demand for industrial equipment and may stifle the growth of the motor control center market.
Regional statistics:
Asia Pacific dominates the market due to the presence of strong economies
Asia Pacific has the highest market share of motor control centers. It is expected to continue to grow at a steady rate. Strong economic growth and government initiatives to accelerate the industrialization of the region can be attributed to the expansion of the market in Asia Pacific.
North America’s expanding oil and gas industry uses electrical appliances and components to power process industries and utilities. The steel, mineral and mining industries use these centers to improve operational efficiency and add significant value.
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Competitive landscape:
Key participants want to develop new products and expand their product capabilities
A number of large, small and medium-sized companies compete in the market. Major companies have made new product development their primary tactic. ABB and Siemens, among other important international market participants, collaborate extensively. Mitsubishi Electric, Rockwell Automation, Schneider Electric, Fuji Electric Co. Ltd., Powell, WEG, Eaton and Ingeteam SA are other important participants.
Industry development:
February 2021 – ABB Ltd. introduced its new offering, the ReliaGear low-voltage motor control. This new MCC will replace the E9000 series of MCCs.
List of Key Players Profiled in Smart Electric Meters Market Report
- ABB (Switzerland)
- Mitsubishi Electric (Japan)
- Siemens (Germany)
- Schneider Electric (France)
- ROAD (USA)
- Fuji Electric Co., Ltd. (Japan)
- Powell (USA)
- Rockwell Automation (USA)
- Eaton (Ireland)
- Marine Electricity (India)
- Ingeteam SA (Spain)
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Table of Contents:
1. Introduction
1.1. Research scope
1.2. Market segmentation
1.3. Research methodology
1.4. Definitions and assumptions
2. Executive Summary
3. Market dynamics
3.1. Market drivers
3.2. Market limitations
3.3. Market opportunities
4. Key Insights
4.1. Key emerging trends: for major countries
4.2. Latest Technological Advance
4.3. Overview of the regulatory landscape
4.4. Analysis of Porters’ five forces
4.5. Impact of COVID-19 on the engine control center market
5. Global Engine Control Center Market Analysis, Insights and Forecasts ($ Million), 2019-2030
5.1. Main findings
5.2. Market analysis, insights and forecasting: by tension
5.2.1. low voltage
5.2.2. Medium Voltage
5.3. Market Analysis, Insights and Forecasting: By Type
5.3.1. Conventional engine
5.3.2. Smart engine
5.4. Market Analysis, Insights and Forecasting: By Components
5.4.1. bus bar
5.4.2. Switch and fuses
5.4.3. relief
5.4.4. Variable speed units
5.4.5. others
5.5. Market Analysis, Insights and Forecast: By End User
5.5.1. Oil and gas
5.5.2. Iron and steel
5.5.3. Minerals and mining
5.5.4. Food and drinks
5.5.5. automotive
5.5.6. commercial
5.5.7. others
5.6. Market Analysis, Insights and Forecast: By Region
5.6.1. North America
5.6.2. europe
5.6.3. Asia Pacific
5.6.4. Latin America
5.6.5. Middle East and Africa
6. Competitive analysis
6.1. Company Market Share Analysis, 2022
6.2. Company profile
6.2.1.1. Overview of the company
6.2.1.2.Offers of products and services
6.2.1.3. Recent developments
6.2.1.4. Finances (depending on availability)
Continued…
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