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| Low Voltage Motor Control Center Market |
The low voltage motor control center is an assembly of one or more enclosed sections having a common power bus and principally containing motor control units. Low voltage motor control centers are an integral part in industries for controlling different types of motors and associated equipment.
The global
Low Voltage Motor Control Center Market is estimated to be valued at US$ 4080.5 Mn in 2023 and is expected
to exhibit a CAGR of 6.2% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The increasing industrialization in developing regions has accelerated the
growth of the low voltage motor control center market. Rapid urbanization and
growth of manufacturing sector in countries like China, India has increased the
demand for low voltage motors. Low voltage motor control centers centralized
control and monitor the operation of different types of motors used across
various industry verticals such as oil & gas, metals & mining,
utilities, and automotive among others. This centralized control allows reduced
downtime and improved productivity. Thus, the growing industrialization is
expected to drive the demand for low voltage motor control centers during the
forecast period.
Segment Analysis
The global low voltage motor control center market is dominated by the
commercial segment. The commercial segment accounts for over 35% share of the
total market, as low voltage motor control centers find extensive usage in
various commercial setups like malls, office spaces, hospitals etc. They help
in centralized control and management of motors used for various HVAC, lighting
and other applications in commercial establishments. Ease of operation and
maintenance along with energy saving benefits have made low voltage motor
control centers immensely popular for commercial applications.
Key Takeaways
The global Low
Voltage Motor Control Center Market Share is expected to witness high growth over the
forecast period of 2023-2030. Rapid industrialization and increasing
construction activities across developing nations are driving the demand for
low voltage motor control centers from various end-use industries.
Regional analysis
Asia Pacific region currently dominates the global low voltage motor control
center market and is expected to remain the fastest growing regional market
during the forecast period. Countries like China, India, Indonesia, Vietnam
etc. are witnessing strong economic growth and significant rise in
infrastructure development. This is generating substantial demand for low
voltage motor control centers from industries as well as commercial sector in
Asia Pacific.
Key players
Key players operating in the low voltage motor control center market are Exxon
Mobil Corporation, Saudi Basic Industries Corporation, Royal Dutch Shell Plc.,
China Petroleum & Chemical Corporation, Chevron Phillips Chemical Company
LLC, Total S.A., LyondellBasell Industries N.V., National Petrochemical
Company, INEOS Group, and Dow Inc. among others. Low voltage motor control
centers help industrial and commercial users efficiently control and manage
multiple low power motors from a centralized location, offering benefits like
energy savings and ease of maintenance.
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