Motor Control Centers Market Size & Share, by Type (Conventional Motor Control Center, Intelligent Motor Control Center); End-user (Automotive, Oil & Gas) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035
ABB Group: ABB has recently partnered with Intel to launch a new artificial intelligence-based distribution management system (DMS) for utilities. The DMS is designed to enhance grid reliability and efficiency and can manage data from millions of smart grid devices in real time.
Siemens AG: Siemens has recently announced that it has been selected to provide the main power supply and distribution technology for the new terminal at the Clark International Airport in the Philippines. The project involves the design and installation of a comprehensive energy distribution system, including transformers, switchgear, and motor control centers.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4867
Published Date: Apr 30, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for automation in industrial and commercial settings is the major factor driving market growth.
The market size of motor control centers is anticipated to attain a CAGR of 9.40% over the forecast period, i.e., 2023-2035.
The requirement of high initial investment, and the high initial cost is estimated to be the growth-hindering factors for the market expansion.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Rockwell Automation Inc., Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, Larsen & Toubro Limited, WEG SA, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end user, and by region.
The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.