The low voltage motor control center market is estimated to be worth USD 4.6 billion in 2024 and is projected to be valued at USD 10 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 8.1%.
Growing urbanization and industrialization in emerging economies are expected to create opportunities for low-voltage motor control center market expansion due to increased demand for electric distribution solutions and increased infrastructural development.
Increasing innovation in low-voltage motor control center designs, including the integration of IoT Smart sensors and predictive maintenance capabilities, enhances functionality and reliability, driving market growth.
The growing deployment of automation in various industries demands effective motor control, which drives the low-voltage motor control center. Increasing infrastructural development, such as commercial buildings, data centers, and transportation systems, creates demand for low-voltage motor control centers.
The adoption of LV MCCs, meant to provide asset and worker protection, is fueled by adherence to safety regulations in sectors such as mining, petrochemicals, and oil and gas.
Edge computing technologies are gaining traction in low-voltage motor control center application, enabling faster data processing and reduced latency and improved decision making at the edge of the network.
Key Takeaways from the Market Study:
- From 2019 to 2023, the low-voltage motor control center market expanded at a CAGR of 2%.
- The conventional motor control centers segment is expected to rise at a CAGR of 9% from 2024 to 2034, according to type.
- The demand for low-voltage motor control centers in the United Kingdom is predicted to grow at a CAGR of 3% through 2034.
- In the United States, the low-voltage motor control center industry is estimated to register a CAGR of 4% from 2024 to 2034.
- China is projected to expand by a CAGR of 9% between 2024 and 2034.
- The low voltage motor control center market in Japan is anticipated to record a CAGR of 5% during 2034.
“The increasing integration of smart technologies and increased focus on energy efficiency are driving the low-voltage motor control center market,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
The market players in the low-voltage motor control center market are collaborating with other industry stakeholders, including suppliers, technology partners, and customers, enabling leading players to leverage synergies, access new markets, and accelerate innovation.
Some players are also opting for eco-friendly manufacturing processes and using energy-efficient technologies to minimize their environmental footprints.
- Mitsubishi Electric’s LV MCCs are renowned for their excellent efficiency, dependability, and performance. They offer a wide variety of LV MCCs. The company focuses on developing innovative technology to enhance motor control and power distribution capabilities.
Key Companies Profiled:
- Tesco Controls Inc.
- Mitsubhishi Electric Corporation
- Allis Electric Co Ltd
- Weg SA
- Eaton Corporation PLC
- Rockwell Automation Inc.
- Siemens AG
Low Voltage Motor Control Center Market Segmentation Analysis:
By Type:
- Conventional Motor Control Centers
- Intelligent Motor Control Centers
By Component:
- Busbars
- Circuit Breakers & Fuses
- Overload Relays
- Variable Speed Drivers
- Soft Starters
- Others
By End User:
- Industrial
- Commercial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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