The Low Voltage Motor Control Centers market size will grow from USD 3.10 Billion in 2017 to USD 4.32 Billion by 2023, at an estimated CAGR of 5.68%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
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The market growth can be attributed to increasing industrial automation and booming power sector globally. The increased use of low voltage electric motors in key industries and increased industrial plant uptime are expected to boost the demand for low voltage motor control centers.The conventional motor control centers segment is expected to lead the market for low voltage motor control centers in 2018. The intelligent motor control centers segment is projected to grow at the fastest rate during the forecast period due to increasing levels of industrial automation in end-user industries globally.The busbars segment of the low voltage motor control centers market, by component, accounted for the largest market size in 2017.
By Market Players:
ABB Ltd. , Eaton Corporation PLC , Siemens AG , General Electric Company , Schneider Electric SE , Rockwell Automation, Inc. , Mitsubishi Electric Corporation , Technical Control Systems, Ltd. , WEG SA , Lsis Co., Ltd. , Larsen & Toubro Limited , Fuji Electric Co., Ltd. , Tesco Controls, Inc.
Conventional Motor Control Centers , Intelligent Motor Control Centers,
Busbars , Circuit Breakers & Fuses , Overload Relays , Variable Speed Drives , Soft Starters
Industrial , Commercial,
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