October 22, 2021 00:17 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, October 22, 2021 (GLOBE NEWSWIRE) - The increasing measures taken by regulators and governments in many countries to promote energy-saving standards in a wide range of areas may promote the development of the global motor control center market . Industry, and manufacturing plants. This information was provided by Fortune Business Insights™ in a recent report titled "Motor Control Center Market Size, Share, and Industry Analysis, by type (conventional motor and smart motor), by voltage (low and medium voltage), by component (Busbars, circuit breakers and fuses, relays, variable speed drives, etc.), by end users (oil and gas, steel, minerals and mining, food and beverages, automobiles, etc.) and regional forecasts, 2020-2027.” The report further mentioned, The size of the motor control center market in 2019 was 5.62 billion U.S. dollars and is expected to reach 8.16 billion U.S. dollars by 2027, with a compound annual growth rate of 5.2% during the forecast period.
The emergence of COVID-19 brought the world to a standstill. We understand that this health crisis has brought unprecedented impact to companies in all walks of life. However, this will pass. Increasing support from the government and several companies can help combat this highly contagious disease. Some industries are struggling, and some industries are booming. Overall, almost every industry is expected to be affected by the pandemic.
We are constantly working to help your business maintain and grow during the COVID-19 pandemic. Based on our experience and expertise, we will provide you with an analysis of the impact of the cross-industry coronavirus outbreak to help you prepare for the future.
To learn more about the short-term and long-term impact of COVID-19 on the market,
Please visit: https://www.fortunebusinessinsights.com/industry-reports/motor-control-centers-market-101193
The list of major companies introduced in the report are:
This report answers the following questions:
Industries are increasingly adopting automation to promote growth
Several industries around the world are adopting automation because it offers many advantages. These include extending the product life cycle, high-quality production, reducing waste, reducing human error, efficient manufacturing, and low operating costs. It also helps improve operational efficiency. In addition, in the next period of time, increased investment in the adoption of automation, the increasing revenue of this sensor technology, and the growing industrial base of developing economies will contribute to the growth of the motor control center market.
The impact of the Covid-19 pandemic on the market:
Request a sample copy of the report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/motor-control-centers-market-101193
Increase the application of motor control center to promote the growth of BusbarSegment
According to the components, the market is divided into relays, variable speed drives, circuit breakers and fuses, bus bars, etc. Among them, the busbar part accounted for 30.8% of the motor control center market share in 2019. Due to the application of the motor control center in a wide range of electrical components, such as incoming bus, grounding bus and main bus, it currently occupies a leading position in the market. Busbar.
Increase investment in industrialization to promote growth in the Asia-Pacific region
From a regional perspective, the market is divided into the Middle East and Africa, Europe, Latin America, Asia Pacific and North America. Among them, the revenue of the Asia-Pacific region in 2019 was US$1.78 billion. This growth is attributable to the expansion of manufacturing and processing industries, as well as the increase in investment in industrialization. For example, the Indian government implemented the “Made in India” program in 2017 to encourage organizations to manufacture products in the country. It will sharply increase the demand for motor control centers in the near future.
Supported by the surge in investment in power utilities and the expansion of industrial infrastructure, Europe is expected to lead the market. The Middle East and Africa will show steady growth because these countries mainly rely on the oil and gas industry. Companies operating in this field need reliable power supplies. Therefore, there is a great demand for motor control centers in this area.
Key companies invest in new manufacturing units to intensify competition
The market has domestic and regional well-known companies such as Vidhyut Control, IDS-Technology GmbH, alfanar and TES. These companies are adopting new product launch strategies, opening new motor control center manufacturing facilities, and obtaining new orders. The following are some of the latest key industry developments:
Quick Buy-Enterprise Content Management Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101193
Take a look at the relevant research insights:
Wire and cable market size, share and COVID-19 impact analysis, by voltage (low voltage, medium voltage, high voltage and ultra high voltage), by end user (aerospace and defense, construction {commercial and residential}, IT and telecommunications, power transmission and distribution , Oil and gas, consumer electronics, manufacturing, automobiles, etc.) and regional forecasts, 2020-2027
Organic solar cell market size, share, and COVID-19 impact analysis, forecast by application (building integrated photovoltaic {BIPV}, portable electronics, defense applications, conventional solar energy, etc.) and region, 2020-2027
Biogas plant market size, share and COVID-19 impact analysis of raw materials (biological municipal waste, agricultural residues, energy crops, etc.), by digester type (wet anaerobic digester and dry anaerobic digester), by application (power generation , Heating) power generation, transportation and others) and regional forecasts, 2020-2027
Floating wind power market size, share and Covid-19 impact analysis, according to water depth (shallow water (< 30m depth), transition water (30m-60m depth) and deep water (> 60m depth)), according to capacity (up to 3 MW, 3 MW to 5 MW and above), regional forecast, 2020-2027
Telecom generator market size, share and COVID-19 impact analysis, by fuel type (diesel, natural gas, and others), rated power (less than 75 kVA, 75-375 kVA, 375-750 kVA, and higher than 750 kVA), application (Continuous, peak load and standby) and regional forecasts, 2020-2027
Fortune Business Insights™ provides professional enterprise analysis and accurate data to help organizations of all sizes make timely decisions. We tailor innovative solutions for our customers to help them cope with the unique challenges facing their business. Our goal is to provide our customers with comprehensive market intelligence and a detailed overview of the markets in which they operate.
Our report contains a unique combination of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market research, interspersed with relevant data.
At Fortune Business Insights™, our goal is to highlight the most profitable growth opportunities for our customers. Therefore, we provide suggestions to enable them to more easily respond to changes in technology and the market. Our consulting services are designed to help organizations identify hidden opportunities and understand current competitive challenges.
Contact us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Leadership, Survey No. 36, Baner, Pune-Bangalore Highway, Pune-411045, Maharashtra, India. Phone: United States: +1-424-253-0390 United Kingdom: +44-2071-939123 Asia Pacific: +91-744-740-1245
Read the press release: https://www.fortunebusinessinsights.com/press-release/motor-control-centers-market-9925