Low Voltage Motor Control Center

Growing Demand for Energy Efficiency Drives the Growth of the Low Voltage Motor Control Center Market

by

The global low voltage motor control center market is estimated to be valued at US$3,807.5 million in 2022 and is expected to exhibit a CAGR of 7.17% over the forecast period 2023-2030, according to a new report published by Coherent Market Insights.

Market Overview:

A low voltage motor control center is an assembly of one or more enclosed sections, which control and distribute electric power to motors within a facility. They are specifically designed to provide protection, control, and monitoring of motor circuits, enabling efficient motor operation. These motor control centers offer several advantages, including increased energy efficiency, enhanced motor performance, and improved system reliability. The need for low voltage motor control centers has been rising due to the increasing demand for energy-efficient solutions in various industries such as manufacturing, oil and gas, and water and wastewater treatment.

Market Key Trends:

The key trend driving the low voltage motor control center market is the growing demand for energy efficiency. With the rising cost of energy and growing environmental concerns, industries are increasingly looking for ways to reduce energy consumption and improve operational efficiency. Low voltage motor control centers offer advanced features such as variable frequency drives, which enable optimal power usage by adjusting motor speed according to the load requirements. This helps in reducing energy wastage and achieving significant cost savings.

Additionally, the integration of digital technologies, such as IoT and cloud computing, is another key trend observed in the low voltage motor control center market. These advancements enable remote monitoring and control of motor operations, leading to improved system efficiency and reduced downtime. Moreover, the implementation of smart motor control centers offers enhanced diagnostics and predictive maintenance capabilities, further optimizing motor performance and reducing maintenance costs.

Segment Analysis:

The low voltage motor control center market can be segmented based on type, end-user, and region.

Based on type, the market can be divided into conventional motor control center and intelligent motor control center. The conventional motor control center segment is currently dominating the market. This can be attributed to its low cost and simplicity in design and operation, making it suitable for various applications in industries such as oil and gas, power generation, and water and wastewater treatment. However, the intelligent motor control center segment is expected to witness significant growth during the forecast period. This is due to its advanced features such as remote monitoring and diagnostic capabilities, leading to enhanced efficiency and reliability of motor control systems.

Key Takeaways:

The Global Low Voltage Motor Control Center Market Growth is expected to witness high growth, exhibiting a CAGR of 7.17% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, the increasing industrialization and urbanization activities in emerging economies such as China and India are driving the demand for motor control centers in various industries. Secondly, the growing emphasis on energy efficiency and the implementation of stringent regulations regarding energy consumption are fueling the adoption of intelligent motor control centers.

In terms of regional analysis, Asia-Pacific is expected to be the fastest-growing and dominating region in the low voltage motor control center market. This can be attributed to the rapid industrialization and infrastructure development in countries such as China and India. The increasing investments in industries such as manufacturing, power generation, and oil and gas in this region are driving the demand for motor control centers.

Key players operating in the low voltage motor control center market 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. These key players are focusing on strategies such as partnerships, mergers and acquisitions, and product innovations to strengthen their market presence and expand their product portfolios.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it