LOW VOLTAGE MOTOR CONTROL CENTER MARKET ANALYSIS

Low Voltage Motor Control Center MarketSize and Trends

The global low voltage motor control center market size was valued at USD 3,807.5 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.17% from 2023 to 2030. The global low voltage motor control center market is likely to show strong growth in the future.  This is mainly due to increasing demand from commercial end user industries such as hotel and restaurants, office complexes, and retail businesses. The market is also anticipated to be driven by increased investments in industrialization

Market Trends:

Increasing adoption in organic food processing sector is a growing trend

The demand for organic food is growing in European region, especially in Germany. This is further driving the adoption of IMCC among organic food processing firms. This in turn is expected to drive the market growth in this region. Moreover, the number of wastewater treatment plants replacing the existing MCCs and IMCCs in Europe is growing, due to the groundwater directives and water framework directives in the region.

Rise in government investment in increasing power generation capacity is a recent trend

Governments of several countries, especially in Asia Pacific region are increasingly making investments to increase their power generation capacities. For instance, government of China allocated budget to increase its power generation capacity of 455 GW during 2010 to 2020. From this budget for 850 power plants, more than 75% is nuclear and coal-based. Thus, such investments by government of countries is a growing trend in the global low voltage motor control center market, which in turn is likely to drive growth of the market.