Low Voltage Motor Control Cent
English Public
Market Snapshot.
The low voltage motor control centre market size and share is projected to reach around USD 3,807 million in 2023, growing at a CAGR of around 7% during the forecast period. Furthermore, the global low voltage motor control centre market research analysis predicts it to reach around USD 9 billion by 2035.
Browse the market research report here: https://www.sdki.jp/reports/low-voltage-motor-control-centers-market/108858
Market overview.
Low-voltage motor control centres are closed groups of one or more departments with one power bus and motor control units. Low-voltage motor control centres have been used in the automotive manufacturing sector since 1950. Low-voltage motor control centres provide a safe and systematic way of tuning motors for energy efficiency and maximum performance.
Latest trends in the low-voltage motor control centre market
1. the rise of industrial automation is accelerating the pace of the low voltage motor control centre market - increasing adoption of the Industry 4.0 concept across industries and changes in the operational structure of industrial processes have led to several advances in productivity and efficiency. Tambo: In March 2020, the European Commission also proposed a provisional framework to facilitate the adoption of advanced Industry 4.0 solutions by SMEs By 2029, the global market is expected to be worth approximately USD 377 billion. Increasing network connectivity to the manufacturing process is likely to change traditional business operations and create lucrative opportunities for the low-voltage motor control centres market.
2. awareness of sustainable growth to increase low-voltage motor control centre market size - increasing focus on clean and sustainable energy sources is driving the need for low-voltage motors in the renewable energy sector The renewable energy market is projected to reach USD 1,977 billion by 2030 at a CAGR of 8%, significantly boosting the market size of low-voltage motor control centres. See the following table for more information.
Key trends in the low-voltage motor control centre market
1. in February 2021, ABB announced the launch of ReliaGear Low Voltage. Developed to provide durability, simplicity and safety in products.
2. in June 2021, Siemens Energy won a contract from UPM-Kymmene to supply EAD (electrification, automation and digitalisation) packages for next-generation biorefineries under development in Germany.
3. in February 2020, Eaton Corporation, together with Abunayan Holding, established a joint venture for the production and maintenance of low and medium voltage switchgear in the Middle East. As Eaton Arabia, the business will likely operate in Dubai, Daman, Saudi Arabia and the United Arab Emirates.
4. in January 2020, Rockwell launched a new motor protection circuit breaker that offers cost, time, wiring time, panel space and cost.
Low-voltage motor control centre market challenges
Falling oil prices have reduced investment in the oil and gas industry. Limited future growth On the other hand, the initial investment in setting up a low-voltage motor control centre is high compared to others. In addition, the complexity of integrating low-voltage motor control centres into existing systems and the complications associated with their maintenance are potential factors hindering the growth of the low-voltage motor control centre market.
Competitive environment
Some of the key player manufacturers in the low voltage motor control centre market include Rockwell, Automation Inc, Schneider Electric, Siemens Aktiengesellschaft, ABB Ltd, Eaton, Tesco Controls, Inc. Inc, Mitsubishi Electric Corporation, Allis Electric Co, Ltd, WEG SA, Marine Electricals (India) Limited, Powell Industries, Inc, INGETEAM, SA, Fuji Electric Corporation, HD Hyundai Electric Co. Nidec, Larsen & Toubro Limited, LS Electric Co. The study includes in-depth competitive analysis, company profiles, recent trends and key market strategies of these key players in the global low-voltage motor control centre market.
The low voltage motor control centre market size and share is projected to reach around USD 3,807 million in 2023, growing at a CAGR of around 7% during the forecast period. Furthermore, the global low voltage motor control centre market research analysis predicts it to reach around USD 9 billion by 2035.
Browse the market research report here: https://www.sdki.jp/reports/low-voltage-motor-control-centers-market/108858
Market overview.
Low-voltage motor control centres are closed groups of one or more departments with one power bus and motor control units. Low-voltage motor control centres have been used in the automotive manufacturing sector since 1950. Low-voltage motor control centres provide a safe and systematic way of tuning motors for energy efficiency and maximum performance.
Latest trends in the low-voltage motor control centre market
1. the rise of industrial automation is accelerating the pace of the low voltage motor control centre market - increasing adoption of the Industry 4.0 concept across industries and changes in the operational structure of industrial processes have led to several advances in productivity and efficiency. Tambo: In March 2020, the European Commission also proposed a provisional framework to facilitate the adoption of advanced Industry 4.0 solutions by SMEs By 2029, the global market is expected to be worth approximately USD 377 billion. Increasing network connectivity to the manufacturing process is likely to change traditional business operations and create lucrative opportunities for the low-voltage motor control centres market.
2. awareness of sustainable growth to increase low-voltage motor control centre market size - increasing focus on clean and sustainable energy sources is driving the need for low-voltage motors in the renewable energy sector The renewable energy market is projected to reach USD 1,977 billion by 2030 at a CAGR of 8%, significantly boosting the market size of low-voltage motor control centres. See the following table for more information.
Key trends in the low-voltage motor control centre market
1. in February 2021, ABB announced the launch of ReliaGear Low Voltage. Developed to provide durability, simplicity and safety in products.
2. in June 2021, Siemens Energy won a contract from UPM-Kymmene to supply EAD (electrification, automation and digitalisation) packages for next-generation biorefineries under development in Germany.
3. in February 2020, Eaton Corporation, together with Abunayan Holding, established a joint venture for the production and maintenance of low and medium voltage switchgear in the Middle East. As Eaton Arabia, the business will likely operate in Dubai, Daman, Saudi Arabia and the United Arab Emirates.
4. in January 2020, Rockwell launched a new motor protection circuit breaker that offers cost, time, wiring time, panel space and cost.
Low-voltage motor control centre market challenges
Falling oil prices have reduced investment in the oil and gas industry. Limited future growth On the other hand, the initial investment in setting up a low-voltage motor control centre is high compared to others. In addition, the complexity of integrating low-voltage motor control centres into existing systems and the complications associated with their maintenance are potential factors hindering the growth of the low-voltage motor control centre market.
Competitive environment
Some of the key player manufacturers in the low voltage motor control centre market include Rockwell, Automation Inc, Schneider Electric, Siemens Aktiengesellschaft, ABB Ltd, Eaton, Tesco Controls, Inc. Inc, Mitsubishi Electric Corporation, Allis Electric Co, Ltd, WEG SA, Marine Electricals (India) Limited, Powell Industries, Inc, INGETEAM, SA, Fuji Electric Corporation, HD Hyundai Electric Co. Nidec, Larsen & Toubro Limited, LS Electric Co. The study includes in-depth competitive analysis, company profiles, recent trends and key market strategies of these key players in the global low-voltage motor control centre market.
by akiariku
Vocabulary List
- 0
