LOW VOLTAGE MOTOR CONTROL CENTER MARKET ANALYSIS

Market Challenges And Opportunities

Global Low Voltage Motor Control Center Market Drivers:

Rise in industrial automation across the globe to fuel the market pace

The growing adoption of Industry 4.0 concept across industries is bringing several advancements in productivity and efficiency along with changes in the way industrial processes operate. The conventional business operations are likely to change due to growing connectivity of the network to the manufacturing process as well as advancements in production efficiency. This is further expected to create lucrative opportunities for the market. The demand for automated systems in the processes is increasing due to high cost of labor and competitive rivalry. Due to this, demand for intelligent MCC is likely to increase, which in turn is expected to fuel growth of the global low voltage motor control center market during the forecast period.

Rise infrastructural developments to boost the market pace

The end user industries of this market rely on heavy capital investments for adoption of novel low voltage motor control centers or for shifting to IMCC. There is a rise in investment in power management solutions across heavy industries such as metal and mining, oil and gas, and petrochemical among others. Moreover, the food and beverage along with water and wastewater industries are also likely to witness infrastructural developments in the near future. Thus, this factor is expected to propel growth of the global low voltage motor control center market during the forecast period.

Global Low Voltage Motor Control Center Market Opportunities:

Increase in consumer propensity towards adopting connected solutions is likely to bring lucrative opportunities in the global low voltage motor control center market during the forecast period. Consumers of the market are looking for upgrading their systems and are increasing adopting connected solutions. Thus, vendors in the market are focusing to offer integrated solutions that includes various standalone MCCs components. Market vendors are thus likely to increase their product offerings towards integration and connectivity software and hardware solutions in the coming years. This in turn will bring growth opportunities in the global low voltage motor control center market.

Rise in demand from end user industries in developing nations is anticipated to create multiple opportunities in the global low voltage motor control center market during the forecast period. The demand for MCCs is likely to decrease due to rise in adoption of IMCCs in developed regions such as North America and Europe, as consumers demand upgrade of their existing systems. However, demand for low voltage MCC is increasing in end user industries such as water and wastewater, food and beverage, and oil and gas industries in developing countries, due to lack of such infrastructure. This is further expected to create growth opportunities in the market over the forecast future.