Low Voltage Motor Control Center Market Dominated By Increasing Use Of HVAC System

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Low voltage motor control centers (LV MCCs) are primarily used for controlling and protecting low voltage motors and variable frequency drives. LV MCCs allow users to remotely monitor, operate, and protect multiple motors from a centralized location with minimal wiring. This results in reduced installation and maintenance costs. The increasing usage of heating, ventilation, and air conditioning (HVAC) systems globally is a key driver boosting the demand for low voltage motor control centers.

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.

Low voltage motor control centers (LV MCCs) are cabinets accessible from the front that contains motor branch circuit protection and control devices. They allow users to control, protect and operate systems from a centralized location. By integrating motors, contactors, circuit breakers and overload relays into a single enclosure, LV MCCs minimize installation time and costs. They provide safe and easy access to all components for maintenance and repairs. LV MCCs find wide usage in industries such as oil & gas, mining, water and wastewater treatment, and building automation for controlling and protecting compressors, pumps, conveyors and HVAC systems. The global low voltage motor control center market is estimated to be valued at US$ 4080.5 Mn in 2023.

Market Dynamics:
The increasing usage of HVAC systems globally is driving the LV motor control center market. HVAC systems rely on motors, which operate compressors, blowers, fans and pumps. LV MCCs help efficiently control and protect multiple HVAC motors from a centralized location minimizing wiring costs. According to the International Energy Agency, the share of electricity used for space cooling in buildings has grown by over 70% over the last two decades. The growing construction of commercial buildings and infrastructure development projects across emerging economies is also augmenting the demand for HVAC equipment and consequently LV MCCs. Additionally, LV MCCs deliver safe, reliable and efficient motor control. They reduce installation time and costs for operators through their compact modular designs. This is increasing their preference across various industries and boosting the LV motor control center market growth over the forecast period.

SWOT Analysis

Strength: The low voltage motor control center market benefits from rising industrialization and automation. Government initiatives to expand manufacturing sector will propel demand. An MCC offers enhanced safety, reduced downtime, and better power distribution efficiency which helps cut maintenance costs.

Weakness: High initial investment costs associated with MCC systems especially for small and medium enterprises limits their adoption. Customization needs increase capital expenditure for clients. Lack of technical expertise for installation and maintenance is another challenge faced.

Opportunity: Growing construction activities especially of commercial buildings and expansion of process industries offer lucrative opportunities. Adoption of smart grid technologies integrated with MCC will gain traction. Remote monitoring improves operational efficiency.

Threats: Global economic uncertainties like trade wars can hamper industrial projects and impact demand. Growing popularity of solar power and energy storage systems reduce dependency on conventional power infrastructure to some extent posing threats.

Key Takeaways

The global Low Voltage Motor Control Center Market Share  is expected to witness high growth. 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.

Rapid industrialization especially in Asia Pacific will accelerate MCC adoption. China dominates owing to its status as a manufacturing hub while India is witnessing fastest gains riding on government Make in India initiative bolstering infrastructure.

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. The market is competitive with presence of global giants as well as regional vendors. Participants focus on customization, digitalization, and aftersales support to gain market share.

For more insights, read- https://www.pressreleasebulletin.com/low-voltage-motor-control-center-market-trends-size-and-share-analysis-2/

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